Governance

Ethical behaviour is essential to building trust with our stakeholders. Our commitment to principled behaviour is reinforced through our corporate policies, regular training, and our transparent approach to external relations.

Business conduct

We have a suite of procedures, policies and standards that set clear expectations for our team members on business conduct and outline the reporting avenues for our team members if they have concerns about ethical behaviour in our workplace.

We are committed to upholding the highest standards in ethical business conduct across our operations. Our Code of Business Conduct outlines the rules, principles, values, expectations and behaviours that all Methanex employees must follow. The Code applies to all employees of Methanex and our majority-owned subsidiaries.

The Code is supported by other internal procedures, policies and standards, including our:

Ethics Hotline procedure
Corrupt Payments Prevention Policy
Corporate Gifts and Entertainment Policy
Competition Law Policy
Confidential Information and Trading in Securities Policy
Anti-Harassment Standard

Further, we reduce the risk of unethical business conduct at our company through proactive actions. This includes encouraging team members to report potential conduct violations to our Ethics Hotline, conducting annual fraud risk assessments and setting the expectation for our ship management companies (who operate the vessels that Waterfront Shipping charters) that facilitation payments are strictly prohibited.

Responsible procurement

Maintaining an ethical and responsible approach to our procurement processes helps us uphold our company standards for social and labour practices, and builds resilience to events that are environmental, political or disruptive in nature. The majority of our procurement budget is used to purchase natural gas and other feedstocks, followed by the procurement of services such as transportation for our product and labour, including contractors. We seek to work with suppliers and contractors that align with Methanex’s values and responsible practices.

To further support our commitment to ethical procurement, we focus on:

Providing prompt payments
Procuring natural gas
Evaluating contractors and distributors
Supporting the fight against modern slavery

Cybersecurity

Methanex focuses on resilience against cyberattacks to protect our data, systems, assets, and identities.

We have a comprehensive program in place to detect potential threats, malicious activities and to guide our response in the event of a cybersecurity incident. We regularly update and evolve our program and training programs to reflect emerging cybersecurity threats. We take a proactive approach to cybersecurity by ensuring we are prepared to respond to worst-case cybersecurity incidents.

We tailor our cybersecurity activities and practices around three key pillars:

Governance and oversight
Plant systems
Technical improvements and risk assessments

To maintain a proactive, mature and continually improving cybersecurity program, we focus on the following practices:

Updating Processes
Training
Awareness
Network Segmentation
Identity and Access Management
Incident Response
Security Information and Event Management
Disaster Recovery

To learn more, please visit pages 74 to 81 of the 2024 Sustainability Report.