Corporate governance is key to maintaining our credibility with our employees, customers, and stakeholders. We have implemented strict governance rules that apply to all our businesses and all employees. This includes the Company Values and Business Principles; a whistleblower policy; a human rights policy including supplier principles; an environmental policy; an acceptable use policy; an insider training code; IT security; and a global travel policy promoting alternatives to travel by using virtual meeting technology. On a local level, our operating companies have policies that enforce compliance with relevant laws and regulations.
We realize that it is important that these business principles offer more than simple guidelines on paper and are integrated into internal and external policies and monitored for compliance. They are workplace standards subject to common performance management systems used throughout Europe and North America. Our training programs ensure employees are aware of the principles.
We are rolling out training programs for Business Principles and Company Values, Competition Law, Anti-Corruption, and IT security to selected groups of employees. We use web-based training from (a part of Wolters Kluwer’s ). We made substantial progress in 2011 in delivery of anti-corruption and IT security training modules and translating training modules into several languages. We first introduced these training tools in the Netherlands and have started training the first groups of employees in other countries.
We added a target based on corporate sustainability to our Short-Term Incentive Plan for the Executive Board for 2011, which is in line with Best Practice Provision II.2.3 of the . The Supervisory Board resolved to use revenues from electronic products as a percentage of total revenues as the new sustainability related target. Electronic products reduce paper consumption and increase productivity, while at the same time reducing our environmental footprint as well as that of our customers.