Labor Standards Policy

This Labor Standards Policy is effective dated: June 01, 2024

Control Document: GEF-CP-001, Ver. 1.0

Purpose

The purpose of this Labor Standards Policy is to ensure that galaxefi upholds the highest standards of labor practices in line with international guidelines, including those set forth by the United Nations and the International Labour Organization (ILO). This policy aims to promote fair, ethical, and safe working conditions for all employees and contractors associated with galaxefi.

Scope

This policy applies to all employees, contractors, suppliers, and any other third parties acting on behalf of galaxefi.

Policy Statement

galaxefi is committed to maintaining labor practices that respect and uphold human rights and are consistent with international labor standards.

We strive to create a safe, inclusive, and fair working environment for all individuals involved in our operations.

galaxefi’s Labor Standards Policy

International Standards

galaxefi aligns its labor practices with the following international guidelines:

  • United Nations Guiding Principles on Business and Human Rights: We adhere to these principles to ensure that we respect human rights in our business operations.
  • International Labour Organization (ILO) Conventions: We comply with key ILO conventions, including those related to forced labor, child labor, discrimination, and freedom of association.

Core Labor Standards

  • No Forced Labor: We prohibit all forms of forced, bonded, or involuntary labor. All work must be conducted on a voluntary basis, and employees have the freedom to leave their employment after reasonable notice.
  • No Child Labor: We do not employ any person below the legal minimum age for employment. We support the elimination of child labor and adhere to applicable laws and regulations.
  • Non-Discrimination: We provide equal employment opportunities and prohibit discrimination based on race, color, gender, age, religion, ethnicity, disability, or any other characteristic protected by law.
  • Freedom of Association: We respect the right of employees to form and join trade unions and to bargain collectively. We do not interfere with or retaliate against employees exercising these rights.
  • Fair Wages and Benefits: We ensure that employees are compensated fairly and in compliance with applicable wage laws, including minimum wage, overtime, and legally mandated benefits.
  • Safe and Healthy Working Conditions: We are committed to providing a safe and healthy workplace. We comply with health and safety regulations and implement measures to prevent accidents and injuries.
  • Reasonable Working Hours: We comply with applicable laws on working hours, rest periods, and overtime. Employees should not be required to work excessive hours and should receive appropriate rest breaks.

Supplier and Contractor Compliance

We expect our suppliers and contractors to adhere to these labor standards. We conduct regular audits and assessments to ensure compliance and take corrective actions if necessary.

Reporting and Compliance

Employees and third parties are encouraged to report any violations of this policy to their supervisor or through the company’s confidential reporting mechanism. galaxefi will investigate all reports and take appropriate action, which may include disciplinary measures or termination of contracts.

Training and Awareness

We provide regular training and resources to ensure that all employees and relevant third parties understand and comply with this Labor Standards Policy.

Monitoring and Review

The Human Resources Department is responsible for monitoring the implementation of this policy and conducting regular reviews to ensure its effectiveness. This policy will be reviewed and updated periodically to reflect any changes in applicable laws and international standards.

Quick Contact

Being our active vendor, it is expected that you agree to comply with this policy. For questions or concerns about this Policy, please use the following form: