At vesta, integrity refers to behaving in an honest and responsible wat, with respect and descipñline; it means being congurent between what we say and what we do.
Since our inception we have been known for doing business under a culture of trust, respect, honesty, integrity, equality, justice, and legality. In accordance with our culture of integrity, we participate in several international initiatives, including the following:
We are members of the B20’s Responsible Business Conduct and Anti-Corruption Committee—that is an integral part of the G20—to which we contribute with specific policy proposals. We also promote its implementation and the dialogue among different sectors.
We are signatories of the United Nations Global Compact and its 17 Sustainable Development Goals, through which we strive to promote the implementation of best practices in terms of corporate human rights, labor regulations, the environment, and the fight against corruption in our activities.
Since 2017 we adhere to the global Alliance for Integrity initiative whose goal is to promote transparency and integrity in the economic system, taking into consideration every sector.
However, the Vesta Code of Ethics is the strongest expression of our ethical commitment and our guide in overseeing the behavior of anyone who works for or has a relationship with the company. We review the Code every two years in close collaboration with our stakeholders, with the most recent update being done in 2019.
We also created the position of Chief Integrity Officer, whose purpose is to implement best practices in terms of the integrity culture and to ensure that at Vesta operations are always handled in an ethical and honest way, focusing on building a better Mexico.
A key aspect in ensuring sustainability at any company is to adequately identify and address any risks to which it could potentially be exposed to. Such risks can take different forms and they can be related to financial, market, regulatory, legal, technological, environmental, or social matters.
Vesta recognizes the reality of climate change, and to identify the status of our climate-related financial information we conducted a maturity analysis in order to report on our risks and opportunities in this area, in keeping with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
Identifying, mitigating and addressing the risks to which we are exposed in order to deal with them in a resilient manner is an area of central concern for the company’s senior management.
Some of the risks and opportunities that might affect our business are financial, market, regulatory, legal, technological or social issues, as well as natural disasters and phenomena involving climate change.
2020 proved to us that local and global conditions can change at any time, so Vesta endeavors to remain resilient, strengthening our processes and structure so that we are prepared to face any adversity.
In 2019 we began a process of identifying climate change risks that relate directly to our operations, so that we could define a strategy and action plans to manage these risks and take advantage of any of them that could represent opportunities.
At the end of 2020, following the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and GRESB, we designed a matrix of transition, physical and social risks that affect each area of the company, in order to lay the groundwork for our strategy of resilience and climate change.
At Vesta we know that the fight against corruption is among the toughest problems we face every day, both in our personal life and in the workplace, and we are convinced that preventing and fighting against it is the responsibility of everyone at the company, and not only that of our top management. Accordingly, we work relentlessly to promote a culture among our employees and suppliers that is an example of ethical behavior.
Conduct regular training with our employees on issues of integrity and anti-corruption. We also include content on our Code of Ethics and in our induction program for new hires.
Every year we hold dialogue sessions during which we discuss new issues and ethical dilemmas currently being faced by the national and international real estate industry.
As part of the process new suppliers need to undergo in order to become part of our value chain, we ask them to commit to adhering to our Supplier Code of Ethics, ESG Policy, Sustainable Procurement Policy, Anti-corruption Policy, and to the ESG Supplier Requirements.
We have zero tolerance for acts of corruption, and we share this position with our stakeholders. We materialize this by asking both our clients and suppliers to read and comply with our Code of Ethics, and to adhere, as we do, to the Law for Preventing and Identifying Operations of Illicit Origin, with the Federal Work Law, and with the Manual for Sustainable Construction for Contractors.
Having a program for integrity and the fight against corruption in all its forms is a priority for our top management. Accordingly, we have created a series of policies and procedures which complement our Code of Ethics and whose goal is to address issues related to:
We always work with our company’s benefit in mind, making sure that our decision making is not affected by any factor that favors interests other than our productivity, efficacy, efficiency, and the achievement of our goals.
Accordingly, we cannot and should not have financial interests, or work for, serve as a consultant in, or have any other type of relationship with a Vesta competitor, supplier, client or contractor. In addition, we cannot benefit from our procurement or supply decisions, nor can we benefit our friends or relatives.
In order to avoid any conflicts of interest and provide the necessary solutions, we are all obliged to make an annual written declaration of any activities, relationships, financial interests, or interests of any other kind that could represent a conflict of interest with respect to Vesta.
Since we are a public company, we are committed to transparency and are accountable to the authorities, securities and financial institutions, and our shareholders.
We make sure that all personal information under our care remains safe, ensuring that it can only be accessed by authorized parties. Under no circumstances do we share it with or reveal it to people outside the company.
We protect Vesta’s confidential information, including strategies, projects that have not been made public, and other business information. We safeguard the confidentiality and safety of Vesta’s computer systems.
Aware of the importance of promoting a culture of values, we have integrated a reporting policy to communicate any violations to our Code of Ethics, and make the following reporting options available to all our stakeholders:
Today, one of the biggest ESG challenges being faced globally and nationally by the majority of corporations, is the ability to ensure and enforce human rights as part of their daily management and operation, as well as in their stakeholder engagement.
At Vesta we respect human rights for everyone with whom we interact across our operations. We have also adopted a strong position against child labor and forced labor, discrimination, negative social impacts, and human rights violations.
In response to this, we have been signatories of the United Nations Global Compact since 2011 and since then we have actively shared and fostered its principles with our stakeholders.
Furthermore, at Vesta we believe that diversity complements our team and makes it better prepared to face the evolution the real estate industry is undergoing. This is why we work with experienced personnel and make no distinctions for age, gender, origin, nationality, social status, ideas, opinions, religious beliefs, social or economic standing, political or sexual preferences. These factors are not taken into consideration either for hiring people.
At Vesta we have a Diversity, Equality, and Inclusion Policy in place, which addresses these issues with all our stakeholders.
None of our employees are unionized, although we do respect their freedom of association.
At Vesta, our employees understand and work under a common goal and shared values by applying innovation in daily occupations.
Promoting diversity and inclusion within the company, starting with the way in which we attract talent and up to the professional growth of all our employees. This is the way in which we offer equal opportunities for all.
Maintaining an open doors culture, encouraging constructive communications and avoiding unfounded rumors.
Promoting dialogue as a conflict-resolution tool, always presenting a respectful, transparent, harmonious, and purposeful image with the stakeholders with whom we interact.
We offer benefits beyond what is stipulated by Mexican law in order to retain the best professionals in the real estate industry.
We recognize that in order to be at the forefront on issues that concern the real estate industry, we must offer our employees a diversity of professional and personal training and learning opportunities.
We make sure that all our facilities are safe for our employees, contractors, suppliers, and for all visitors.
We always treat our employees with dignity and respect. We provide the resources and tools they need to perform their jobs, while at the same time maintaining harmony and a healthy work environment.
Likewise, we design and implement policies, systems, and programs that promote development and growth, and we offer recognition for good performance. Therefore, the labor relations in Vesta are free of partiality, prejudice, and harassment in any of its forms.
We do not tolerate intimidating, hostile, or offensive behaviors or written or verbal communications. We respect the time of others, by showing empathy, being punctual and striving for a healthy work-life balance through responsible planning.
With all these efforts we strive to make sure that our employees view Vesta as a great place to work and to grow professionally.
As part of our Commitment Program with our stakeholders, at Vesta we have an Ambassadors Program in place whose goals are to:
This program includes:
Sponsor: A project leader who is a member of our senior management.
Change Managers: Employees who belong to the Human Resources or Communications divisions and are in charge of managing the program.
Agents of Change: People in charge of implementing the program and being in direct contact with employees. These agents were selected democratically by employees and named as ambassadors for the company.
Employees:Main stakeholders of the program.