Business ethics

StatkStatkraft is committed to ensuring a high level of integrity in the company and has a zero tolerance for corruption. With rising exposure in markets exposed to corruption, Statkraft works actively to safeguard a sound internal business culture and develop robust anti-corruption measures.

Our commitment

Statkraft's commitment to a high level of integrity is clearly stated in the Code of Conduct, approved by the Board of Directors. Statkraft has also adopted detailed guidelines for business ethics and anti-corruption. Statkraft endorses the ten principles of the United Nations Global Compact, which include a clear standard for business ethics.  

Challenging arena – clear position

Statkraft is present in a wide range of markets. Some of these rank high on Transparency International’s Corruption Perception Index, and particular care is taken to handle corruption risk in these markets.   Statkraft works actively to ensure a sound internal business culture and develop robust anti-corruption measures. Examples of such work include training of employees, background checks of potential partners and incorporation of relevant clauses in contracts. In order to facilitate consistent and systematic handling of ethical issues, each business unit in Statkraft now also has an Integrity Manager, while an Integrity Officer function has been established at the corporate level.

A risk assessment and mapping of need in each of Statkraft’s business areas were carried out in 2014. With this background, customised solutions for expertise enhancement and other corruption-preventive measures will be developed.

Furthermore, a new training programme relating to business ethics and anti-corruption has been adopted, where all employees will receive training adapted to their challenges by the end of 2015. Good management is particularly important in this topic, and dilemma training for all top executives was implemented in 2014.

Statkraft has prepared practical guidelines that will strengthen the awareness concerning ethical dilemmas and help employees to handle ethical challenges. The guidelines are a supplement to governing documents, the existing anti-corruption work manual and anti-corruption e-learning programme.


One of Statkrat's guidance tools: a Quick Guide on business ethics in Statkraft.

Whistleblower channel

Statkraft wants transparency surrounding dilemmas and ethical issues, and systems are in place to provide all employees with guidance and advice with regard to interpretation of Statkraft’s code of conduct and desired behaviour. Statkraft's code of conduct emphasises that employees have both the right and duty to report breaches of legal or ethical obligations through the line organisation or the Group's whistleblower channel, which is handled by Group Auditing. The whistleblower channel was improved in 2014 and is now also open for external stakeholders. Group Auditing received five internal whistleblower cases in 2014.