Sustainable Development Council (SDC) Conflict of Interest Statement
1. Purpose and Introduction: The Sustainable Development Council (SDC) recognizes the importance of maintaining transparency, integrity, and trust in all our endeavors. This Conflict of Interest Statement is designed to guide the conduct of our employees, volunteers, representatives, and stakeholders, ensuring that decisions and actions are not compromised by personal interests that may conflict with the best interests of SDC.
2. Definition of Conflict of Interest: A conflict of interest arises when an individual’s personal, financial, or other interests could compromise their objectivity, professional judgment, or ability to act in the best interests of SDC.
3. Scope: This statement applies to all individuals associated with SDC, including employees, volunteers, representatives, contractors, consultants, and board members.
4. Disclosure Obligation: All individuals associated with SDC have an obligation to promptly disclose any situation that may present or be perceived as a conflict of interest. This includes financial interests, relationships, affiliations, or any other circumstance that might compromise the individual’s ability to act impartially on matters affecting SDC.
5. Examples of Conflicts of Interest: Conflicts of interest may include, but are not limited to:
a. Financial interests in a business or entity that may compete with or be affected by SDC activities. b. Employment or consultancy agreements that could impact the individual’s independence in decision-making. c. Acceptance of gifts, favors, or other gratuities that could influence or be perceived to influence decision-making. d. Personal relationships with individuals or entities that may result in bias or favoritism.
6. Reporting Procedure: Individuals must report potential or actual conflicts of interest to their immediate supervisor, manager, or the designated person within SDC. The report should include a detailed description of the conflict and any steps taken or proposed to mitigate the conflict.
7. Review and Resolution: SDC will review reported conflicts of interest on a case-by-case basis. The organization may take appropriate actions, including recusal from certain decisions, reassignment of responsibilities, or other measures deemed necessary to manage or eliminate the conflict.
8. Confidentiality: All disclosures and related discussions regarding conflicts of interest will be treated confidentially to the extent permitted by law. SDC will strive to protect the privacy of individuals involved in the conflict of interest resolution process.
9. Annual Declarations: To uphold transparency and ongoing awareness, all individuals associated with SDC are required to make annual declarations regarding potential conflicts of interest. This includes updating any changes in financial interests, relationships, or affiliations.
10. Consequences of Non-Compliance: Failure to disclose a conflict of interest or adhere to the provisions of this policy may result in disciplinary action, including termination of employment or other relationships with SDC.
11. Continuous Review and Updates: This Conflict of Interest Statement will be subject to periodic review and updates to ensure its continued effectiveness in maintaining the integrity of SDC’s operations.
By adhering to this Conflict of Interest Statement, we reinforce our commitment to the principles of transparency, accountability, and ethical conduct in all our pursuits at the Sustainable Development Council.