Statement on Slavery and Human Trafficking
The California Transparency in Supply Chains Act of 2010 (SB 657) is intended to increase the amount of information made available by manufacturers and retailers regarding their efforts to address the issue of slavery and human trafficking. The stated goal is to help consumers make better, more informed choices regarding the products they buy and the companies they choose to support.
Hexion, Inc. ("Hexion"), as a global company, takes seriously its responsibilities with regard to international labor and human rights standards. Hexion's Code of Conduct expressly requires all employees and facilities to comply with all laws regarding prohibition of forced, compulsory, or child labor, and supports global efforts to eliminate these activities. In order to insure Hexion facilities meet such requirements, Hexion has developed and implemented internal reporting and accountability standards and procedures.
Hexion typically requires, as a condition of contract, that all direct suppliers of services and materials comply with applicable laws and regulations, which would include labor laws. We have also developed, and are in the process of implementing, a Supplier Code of Conduct that specifically prohibits slavery and human trafficking. Hexion does not currently require suppliers to certify that the materials obtained from their vendors comply with employment standards and regulations of countries in which their vendors are doing business. At this time, Hexion does not conduct audits of suppliers to evaluate compliance, nor does Hexion use third parties for verification of supplier compliance.
Hexion is in the planning stage to develop and implement additional procurement training, practices and procedures to help improve its global working environment by enhancing the standards we expect of our global suppliers.