Not as supportive of a second chance. Especially since this wording is part of the actual policy, not the soft sell leading up to it. I interpret it as: If I fuck up once, even if I recognize and own it, I will still be fired if the victim reports it.
This would seem to encourage silence and denial on the part of the accused, since owning up to it will be effectively a confession. And in such an environment, the power will reside almost entirely with the accusers, since I can't imagine the accused ever winning in a pure hearsay (i.e. no witnesses) investigation.
This appears to be both a clear zero-tolerance policy for sexual harassment, and an attempt to prevent anything near the border of harassment and illegal discrimination by addressing behavior which is not necessarily illegal but falls short of professionalism strongly (but without a “zero-tolerance” approach.)
[0] it says such treatment is unacceptable, then relates the consequences of discovery of such unacceptable behavior.
The crux is the investigation. Will it be a "we must have a clean image so any hint of impropriety will be pruned aggressively" or "we won't let unsubstantiated accusations derail a valuable employee" or somewhere in between?
Another question is, how will they handle the false accusers? A lot of questions to be clarified if you happen to be part of their ecosystem.
Doesn't sound so intolerant. There is a 2nd chance given. But not a third.