Business responsibility report
Responsible business
The vision of Infosys (‘the Company’) to be a globally-respected corporation continues to be the cornerstone of our governance. This principle also guides our continuous efforts to earn the respect of all our stakeholders. It is, therefore, our responsibility to respect and adhere to ethical practices in all aspects of our business. The Infosys Code of Conduct and Ethics Policy helps maintain the standards of business conduct across the Group and applies to employees, suppliers, vendors, agents, contractors, representatives, consultants or any other third-party agent working on behalf of the Company.
Our values articulate the behavior expected from all employees, contractors and suppliers and are the foundation for all processes and practices.
- Client value: To surpass client expectations consistently
- Leadership by example: To set high standards in our business and transactions, and be an exemplar for the industry
- Integrity and transparency: To be ethical, sincere and open in all our transactions
- Fairness: To be objective and transaction-oriented, and thereby earn trust and respect
- Excellence: To strive relentlessly and constantly improve ourselves, our teams, services and products, and become the best
Ethical conduct: Structures and practices
In line with our core value of ‘integrity and transparency’, we ensure we satisfy the spirit and the letter of the law. The key dimensions of our corporate governance framework are as follows:
Board governance
The Infosys Board of Directors (‘the Board’) has developed a robust corporate governance framework to ensure we conduct our business responsibly. The nomination and remuneration committee of the Board is responsible for appointments to the Board. For this, the committee follows a set of criteria based on the belief that an active, diverse, well-informed and independent Board will ensure the highest standards of corporate governance. In line with our principles of corporate governance, the Board oversees how the Management serves and protects the long-term interests of our stakeholders. As on March 31, 2016, the majority of our Board members — seven out of nine — are independent members. We follow the practice of nominating an independent director as the chairperson of our committees, namely, the audit, corporate social responsibility, nomination and remuneration, risk and strategy, stakeholders relationship and finance and investment committees.
For more details, refer to the Corporate governance section of the Annual Report.
Corporate policies
Our corporate governance practices apply across the Infosys Group and extend to our suppliers and partners too. Our code of conduct and ethics complies with the legal requirements of applicable laws and regulations, including anti-bribery and anti-corruption, the ethical handling of conflicts of interest, and the fair, accurate and timely disclosure of reports and documents that are filed with the required regulatory bodies. Every employee attends a session on Company values during his or her induction, and agrees to follow our code of conduct and ethics. Additional policies, such as the Whistleblower Policy and Gift Policy, and the presence of a strong grievance redressal body help us maintain an uncompromising stand on value transgressions.
Enterprise risk management (ERM)
Our ERM framework encompasses practices relating to the identification, assessment, monitoring and mitigation of strategic, operational, and external environment risks to achieve our key business objectives. This is done through periodic review meetings of the risk management committee and the risk council.
For more details, refer to the Risk management section of the Annual Report.
Focus on sustainability
Our sustainability strategy includes economic, environmental and social imperatives, while paying attention to the needs and expectations of our internal and external stakeholders. Our leaders have been championing sustainability initiatives through global forums and bodies. Regular discussions and reviews with the Board and its committees, senior management and other stakeholders help us work consistently towards fulfilling the expectations of our direct and indirect stakeholders.
A sustainability council, headed by our Chief Operating Officer (COO), U. B. Pravin Rao, reviews progress on sustainability actions at regular intervals.
Corporate social responsibility (CSR)
Two trusts, the Infosys Foundation and the Infosys Foundation USA, have been created to take our CSR efforts forward. Our CSR committee comprises R. Seshasayee, (Chairperson), Kiran Mazumdar-Shaw and Dr. Vishal Sikka. A comprehensive CSR Policy articulates our focus on economic development that positively impacts our society with minimal resource footprint.
For more information on our CSR Policy, visit www.infosys.com.
Stakeholder engagement and grievance redressal
Based on discussions and deliberations with the Board, the Management and various committees, we have arrived at the following list of stakeholders who are important to us:
- Clients
- Employees
- Investors
- Vendors / Alliance partners
- Governments / Regulatory bodies
- Local communities
We have various mechanisms to receive and address complaints from stakeholders related to compliance, corruption or bribery. As of March 31, 2016, no stakeholder has filed any case against the Company, nor are any cases pending regarding unfair trade practices, irresponsible advertising and / or anti-competitive behavior.
