In 2024, a series of training activities, both online and in person, have been carried out involving employees. Moreover, in 2024, Ferrari continued to implement a training and verification project in different departments aimed at raising awareness on the specific topic of information confidentiality safeguards. Furthermore, specific Business Ethics and Compliance (“BEC”) surveys are conducted by the Internal Audit and Compliance functions as part of audit activities carried out according to the yearly audit plan, to assess the Ferrari Group's worldwide workforce awareness of the Code of Conduct and other ethics-related procedures. In 2024, BEC surveys were conducted on topics such as: Code of Conduct, Whistleblowing procedure, Gifts and Entertainment Expenses’ Management procedure, Group Regulatory Framework and Information Confidentiality. Based on the related outcomes dedicated and targeted training sessions and awareness activities were delivered.

Our policy

Our relations with suppliers are governed by purchase contracts (including general conditions of purchase), which outline mutual responsibilities and expectations. When we sign a contract with a business partner, we extend an invitation to them to also sign the Statement of Commitment, by which suppliers undertake not only to comply with the provisions of the Code of Conduct, but also with the Anticorruption Compliance Practice and the Third Parties Compliance Practice. Furthermore, they bind themselves to comply with the Organizational, Management and Control Model laid down in the Italian Legislative Decree No. 231/2001, which aims to prevent and combat unlawful behavior. This document is fundamental to establish a clear commitment to comply with ethical principles and rules of conduct that protect both the reputation of the third part and Ferrari. It is important to underline that any non-compliance with the Code of Conduct may give rise to significant consequences and could be considered a serious breach. In such circumstances, Ferrari reserves the right to terminate the contract with the entity involved, following the procedures provided for by law. Collaborating with Ferrari means sharing common values and a vision aimed at maintaining high ethical standards, thus enhancing integrity and transparency in professional relations. In this way, all partners can contribute to creating a positive and socially responsible working environment.

To further monitor and promote a responsible supply chain, we have appointed a Financial Supplier Risk Manager, who convenes a dedicated committee, the Supplier Risk Committee (“SRC”), every three months. The SRC committee is composed of, among others: Group CFO; Head of Purchasing; representatives of the Internal Audit, Risk and Compliance Department; Group Chief Accounting Officer; Financial Supplier Risk team; Group Treasurer; Purchasing Controller. Other entities otherwise involved, or needed for information or advice, are involved and invited to participate to the committee’s meetings when necessary. The SRC’s aim is to establish management guidelines for financially critical suppliers, approving current action plans and mitigation measures, requesting further plans to address risks arising from existing or potential supply relationships.

Moreover, in 2024 a new function dedicated to Sustainable Procurement was created, with the aim of managing the process of assessing Ferrari’s supply chain maturity level from an ESG perspective. The function will also guarantee operational activities in support of both direct and indirect purchasing, including strategic & trade compliance analyses and checks.