Core Principles
Guided by the principles of professional ethics, transparency, compliance, accountability, and inspired by internationally recognized governance frameworks and the best practices of leading global private-sector organizations, this Code of Conduct has been established as the governing behavioral framework for Farzanegan Group and all of its subsidiaries and affiliated companies.
Ethical
Workplace & Professional
Motivational & Cultural
Future-Focused
Personal
Ethical Principles
The following ethical principles and core values serve as the foundation for all decisions and actions across the Group.
- Professional Ethics, Integrity, Transparency & Fair Competition: Conduct all activities with honesty while avoiding deception, concealment, or misleading information.
- Commitment to Corporate Governance: Uphold the principles of corporate governance, integrity, transparency, and fair competition in all internal and external interactions across the Group.
- Long-Term Commitment & Loyalty: Remain committed to the Group’s principles, long-term interests, and organizational values above individual or short-term considerations.
- Zero Tolerance for Conflicts of Interest: Refrain from participating in any transaction or decision that may create an actual or perceived conflict between personal and organizational interests.
- Reputation & Public Trust: Protect and strengthen the Group’s reputation across domestic, regional, and international markets.
- Fairness & Organizational Justice: Ensure objective, impartial, and equitable decision-making without discrimination or favoritism.
- Managerial Accountability: Take responsibility for the consequences of decisions and actions.
- Legal & Regulatory Compliance: Comply with all applicable national laws, regulations, and internationally recognized standards.
- Anti-Corruption: Maintain zero tolerance for bribery, corruption, abuse of authority, rent-seeking, or misuse of organizational resources.
- Innovation, Learning & Continuous Improvement: Continuously improve business operations, processes, and products by leveraging knowledge, emerging technologies, and organizational learning.
- Commitment to International Standards: Adhere to internationally recognized quality, safety, and technical standards while promoting operational excellence and sustainable productivity across domestic and international markets.
- Stakeholder Responsibility: Build trusted and professional relationships with employees, business partners, customers, and society while contributing to the country’s sustainable economic and industrial development.
Professional & Business Conduct
In line with the Group's industrial nature and international scope of operations, the following principles are mandatory across all companies.
- Financial Transparency & Discipline: Establish and maintain robust financial management systems supported by integrated digital platforms.
- Financial Self-Reliance: Promote the financial independence of subsidiaries and avoid reliance on the Holding Company for operational funding.
- Prudent Decision-Making: Exercise sound judgment and diligence to ensure stability and consistency in decision-making.
- Consistency, Alignment & Continuity: Execute approved plans with discipline, coordination, and continuous follow-up across all Group companies.
- Strategic Business Development: Prioritize sustainable growth, economic development, enterprise building, and national and regional capacity creation rather than expansion alone.
- Teamwork & Collaboration: Foster a culture of teamwork and collective responsibility.
- Intra-Group Synergy: Maximize the effective utilization of shared capabilities, expertise, and resources across the Group.
- Risk Management & Data-Driven Decision-Making: Make informed decisions based on reliable data and structured risk assessment.
- Clear Separation of Ownership and Executive Management: Maintain a clear distinction between the Holding Company’s ownership role and the executive management responsibilities of its subsidiaries.
- Professionalism & Accountability: Fulfill contractual commitments with accuracy, transparency, and timely execution.
- Responsible Supply Chain Management: Build effective, ethical, and long-term partnerships with suppliers and contractors.
- Protection of Industrial Heritage: Preserve technical know-how, accumulated expertise, and the value of industrial and commercial brands.
- Information Confidentiality & Security: Safeguard confidential information, particularly in industrial operations, energy, and international trade.
- Conflict of Interest Management: Identify, disclose, and proactively prevent any actual or potential conflicts of interest.
- Health, Safety, Quality & Sustainability (HSEQ): Prioritize employee well-being, industrial safety, environmental responsibility, and the delivery of high-quality products and services.
Motivational & Cultural Principles
To cultivate a dynamic, collaborative, and inspiring workplace, the Group promotes the following principles:
- Sustainable Development in Energy and Infrastructure: Drive long-term growth by investing in sustainable industrial development across the energy and infrastructure sectors.
- Industrial Innovation, Productivity & Technology Transfer: Support sustainable industrial innovation, enhance operational efficiency, and accelerate the adoption and transfer of advanced technologies.
- Global Market Expansion: Expand export markets while ensuring full compliance with international trade regulations, standards, and best practices.
- Environmental Stewardship: Demonstrate a strong commitment to environmental protection through responsible resource management, emissions reduction, and sustainable operations.
- Global Competitiveness: Empower the Group’s companies and people to compete successfully in regional and international markets.
- Responsible Growth: Align economic growth with corporate social responsibility to create long-term value for all stakeholders.
- Human Capital Development: Invest in developing and empowering human capital to strengthen innovation, resilience, and global competitiveness.
Development & Future-Oriented Principles
The Group defines development through the framework of industrial responsibility and social responsibility, guided by the following principles:
- Professional Ethics, Integrity, Transparency & Fair Competition: Conduct all activities with honesty while avoiding deception, concealment, or misleading information.
- Commitment to Corporate Governance: Uphold the principles of corporate governance, integrity, transparency, and fair competition in all internal and external interactions across the Group.
- Long-Term Commitment & Loyalty: Remain committed to the Group’s principles, long-term interests, and organizational values above individual or short-term considerations.
- Zero Tolerance for Conflicts of Interest: Refrain from participating in any transaction or decision that may create an actual or perceived conflict between personal and organizational interests.
- Reputation & Public Trust: Protect and strengthen the Group’s reputation across domestic, regional, and international markets.
- Fairness & Organizational Justice: Ensure objective, impartial, and equitable decision-making without discrimination or favoritism.
- Managerial Accountability: Take responsibility for the consequences of decisions and actions.
- Legal & Regulatory Compliance: Comply with all applicable national laws, regulations, and internationally recognized standards.
- Anti-Corruption: Maintain zero tolerance for bribery, corruption, abuse of authority, rent-seeking, or misuse of organizational resources.
- Innovation, Learning & Continuous Improvement: Continuously improve business operations, processes, and products by leveraging knowledge, emerging technologies, and organizational learning.
- Commitment to International Standards: Adhere to internationally recognized quality, safety, and technical standards while promoting operational excellence and sustainable productivity across domestic and international markets.
- Stakeholder Responsibility: Build trusted and professional relationships with employees, business partners, customers, and society while contributing to the country’s sustainable economic and industrial development.
Individual Principles
Members of the Farzanegan ecosystem are committed to the following principles:
- Human Dignity & Empathy: Treat others with respect, dignity, and empathy.
- Compliance with Laws and Regulations: Act in accordance with all applicable laws, regulations, and organizational policies.
- Respect for Diversity: Recognize and respect individual, cultural, and intellectual differences.
- Personal & Professional Growth: Take ownership of continuous personal and professional development.
- Constructive Feedback: Receive feedback with an open mind and provide it in a constructive, respectful, and solution-oriented manner.
- Well-being & Work-Life Balance: Take mental well-being, work-life balance, and self-care seriously as essential elements of sustainable performance.