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Ethical policy

Cebr Ethical Code

We have been very successful in keeping our clients over the years and believe that part of the reason for this is our ethical policy. This determines how we treat our customers, staff and society as a whole. Cebr’s ethical code is set out below. Our Equal Opportunities and Diversity Policy can be found here. We are also committed to achieving Net Zero 2050, and have set out our strategy in our Carbon Reduction Plan.


The purpose of the code is to ensure that all Cebr employees and employees of suppliers to Cebr are aware of the ethical principles on which Cebr operates and are clear that their behaviour should be consistent with these principles. In addition it is important that our customers - past, present and future are aware of these principles, have the opportunity to check how they fit with their values and are reassured that Cebr operate in an ethical way.


The Cebr Human Resources Committee monitors the operation of this code and deals at first hand with any potential or actual breaches.

The Cebr Human Resources Committee monitors the operation of this code and deals at first hand with any potential or actual breaches. It reports any breaches to the Cebr Board along with action taken or required and submits an annual report to the Board. If any party has reason to believe that a member of Cebr staff is not following the Cebr ethical code, they are encouraged contact the Chief Executive Nina Skero nskero@cebr.com copied to the Chairman Martin Piers mpiers@cebr.com providing details. We will investigate any comments thoroughly and inform the person providing the feedback of our conclusions.


Our objective is to be (and to be seen to be) the best economics consultancy in the world. This means that –


How do we measure this?

How we treat our customers

Our objective is to support our customers in their work

We will not say anything on behalf of our paying customers that we would not in principle say if we were unpaid

We do not overcharge our customers

If we do not think we can add value which justifies our work we will try to discourage the client from commissioning it

If we think someone else can do the job better than us we will recommend them

We do not offer pre-packaged solutions – we try to solve the customer’s problem

We see economics not as an aim in itself but as a means to help our customers do their jobs better

Our techniques

We use state of the art techniques

- We are careful to go beyond the normal sources of economics information, backing up official statistics with data (some of it proprietary) from surveys and from other real life indicators, and trying to get information from contrasting sources
- We understand that economic theory can only take you so far but try to use it as best possible

We are innovative

We were amongst the first to look at the wider economic impact of infrastructure projects

We developed the use of option pricing for the evaluation of executive remuneration

We were the first to use option pricing for safety issues

We have developed option pricing for defence planning

We operationalised input output modelling for a wide range of purposes

We avoid being

politically partisan

We are not aligned with any political party and will normally work with legitimate politicians of all kinds

We engage in civilised debate

We make our case forcefully and stand up for what we think

Because we enjoy what we do it is possible we occasionally get over passionate about it. If we do, we apologise and move on

We try to treat opposing points of view with respect

If in the presentation of our work we make a case in support of an organisation which has paid or part-paid for that work, we will declare that interest

We are a good corporate citizen

- We pay our taxes and obey government regulations (but reserve the right to criticise when we believe they are wrong and damaging)
- We try to support the local community
- We try to support charities appropriate to our values
- But we realise that our greatest contribution to society is to do our day jobs well

Our greatest strength

is our people

Best individuals

We recruit the best we can find and work constantly to improve our selection process


We look at psychological components and teamworking as well as skills


We respect and utilise diversity as a strength and emphatically do not view it as window dressing

Employee is valued

Importantly we try to ensure that every Cebr employee is valued and enjoys his/her work

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