NOVO BANCO Group, as a relevant buyer of products and services in the market in which it operates, has established a relationship model with its suppliers, which is based on a commitment to follow good international practices and principles. This model was developed based on the recognition of the importance of the economic, environmental and social impacts produced by this group of stakeholders. This relationship is oriented by two main elements:
- NOVO BANCO Group Code of Conduct, which determines, among other factors, that the supplier assessment and selection process must be conducted with rigour and according to the highest standards of transparency and ethics, available here.
- A set of Principles of Relationship with the Suppliers of NOVO BANCO Group that describe the minimum requirements to be met by suppliers and by the NB Group concerning business practices, health and safety in the workplace, ethics and environmental management. These Principles are fully aligned with the OECD Guidelines for Multinational Enterprises and the United Nations Global Pact. Available at NOVO BANCO's website.
Principles of Relationship with NOVO BANCO's Suppliers
Thanks to this sharing between the Bank and its Suppliers, it is possible to generate a virtuous cycle where all contribute for a mutually beneficial and successful relationship, respecting principles of good conduct (impartiality, transparency, quality and efficiency) that are part of our "Principles of Relationship with NOVO BANCO Group's Suppliers".
And what are those principles?
|Impartiality||- Equal treatment, without privileges nor favoritism
- Avoiding conflicts of interests
|Transparency and Ethics||- Proper provision of information
- Supplier selection criteria
|Quality and Efficiency||- Selection of the best suppliers
- Reduction of the bureaucratic burden
- Timely payment to suppliers
In addition, the Bank has subscribed Global Compact's Ten Principles, issued by the United Nations as a result of a corporate citizenship initiative launched by Secretary-General Kofi Annan and announced on January 31, 1999 at the World Economic Forum.
See The Ten Global UN Global Compact's Principles.
The NOVO BANCO Group has invited its suppliers to subscribing the referred principles and adopting coherent conduct measures, namely in what concerns the environment, labour and ethics.
|Environment|| - To adopt in their companies measures that aim to protect the environment, to respect all legislation and regulations in force with regard to the environment
- To implement internal controls that will help to gauge and confirm its respect for the said legislation and regulations
- Appoint a person to be internally responsible for defense of the environment
|Labour||- Not to have any form of forced or child labour or any other kind of human exploitation
- All labour should be the voluntary and result from the free choice of the workers
- There will be no kind of treatment or threat of inhuman treatment, including sexual harassment or abuse, corporal punishment, physical or moral coercion or verbal abuse of workers
- There will be no discrimination based on race, colour, religion, political convictions, ancestry, sexual orientation, gender, pregnancy, civil status or nationality
- Appropriate working conditions for all workers will be guaranteed
|Ethics||- Ensure respect for business integrity, avoiding all kinds of bribery, corruption, extortion and suchlike. All business should be transparent and precisely and fully reflected in the respective records and accounts
- Guarantee confidentiality, respecting the principles and rules of confidentiality legally in force, as well as those that derive from business customs and uses;
- Respect for intellectual property rights will be guaranteed
- Ensure for market rules and the rules of competition will be guaranteed
NOVO BANCO Group Suppliers Portal
NOVO BANCO Group's responsible and consistent attitude in the selection of suppliers starts in the open and totally available way in which it receives all presentations and proposals from the most varied entities that wish to provide services or goods to the NB Group. In this context, the NBG Supplier Platform is the place for current and potential suppliers to register in and is the NB Group’s sourcing basis for market consultation processes. As a database of all suppliers’ characteristics and skills, the platform allows the NB Group to ensure meeting its requirements for levels of servisse.
In 2019, about 94% of the Bank's suppliers were registered on the Group's Supplier Portal, with registration completed or in the process of registration (pre-registered).
Access to Supliers Portal.
For a more rigorous selection of suppliers, and based on information provided by each element in this value chain, NOVO BANCO Group calculates the "sustainability score" which takes into consideration labour and ethical aspects, hygiene and safety at the workplace and environmental aspects. About 23% of NOVO BANCO Group's suppliers registered in the Platform have a score of excellent/good and 83% have a positive score cumulatively.