State-owned companies, listed public companies and private companies with the Public Interest Score (PIS) above 500 are required to have a Social and Ethics Committee.  Companies may apply for exemption from having a Social and Ethics Committee to the Companies Tribunal. Subsidiaries of companies that have a Social and Ethics Committee are not required to have a committee.

 Social and Ethics Committees are responsible to monitor a company’s activities with regard to its contribution to 

  • Social and economic development;
  • Good corporate citizenship;
  • Environment, health and public safety;
  • Consumer relationships; and
  • Labour and employment.