Business ethics and anti-corruption

Statkraft is committed to ensuring a high level of integrity and has 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.

Ambitions and goals

In 2015, Statkraft performed a materiality analysis to identify the sustainability issues that are most important to the company and its stakeholders. One of the issues identified was Business ethics and anti-corruption. Ambition, goals and status for 2015 is presented below. 

2015 status on goals related to Business ethics and anti-corruption

All Statkraft employees complete training program in business ethics with focus on anti-corruption
A new two-year cycle of training on business ethics and anti-corruption was initiated in Q1 2015 for all staff employed in fully-owned entities. The training programme aims to ensure knowledge of relevant anti-corruption legislation, clarify Statkraft’s expectations, enhance preparedness to handle risks, and promote an ethical culture and increased reporting of concerns. The programme is composed of various elements, with classroom training or e-learning as mandatory for all. The combination of methods implemented in each business unit depends on their risk profile, defined according the geography where staff are located and the function they hold. The content of the training was tailored to the various business units, to ensure relevance for their type of operations and risk exposure. The training has been provided in 5 different languages, with 100 separate training sessions in over 30 locations. Training had been offered to all staff in fully-owned entities, either classroom or e-learning.

Continue to strengthen the culture of reporting of concerns and breaches
In the interest of promoting improved reporting of concerns, new procedures were adopted towards the end of 2014 which explain both how employees and others can present such reports, and how they will be handled. Training on these new procedures was incorporated in the business ethics and anti-corruption training programme rolled out in 2015. The development of new procedures and the roll-out of training efforts have contributed to improvements in reporting levels and in the understanding of how to handle such reports. Statkraft will continue its efforts in this area in order to further strengthen the culture of reporting.

Continue to ensure adequate corporate-wide handling of anti-corruption and business ethics risks, with particular focus on high risk processes
A corruption risk assessment and gap analysis for all fully-owned entities was concluded in 2015, with the aim to increase the understanding of risks and to identify potential gaps in prevention. A ‘bottom up’ approach was taken, with interviews of 350 staff in 25 different locations, followed by workshops involving 185 middle- and senior-level managers. Feedback suggests that this process contributed to important improvements in the understanding of risks and increased commitment to implement preventative measures in the company. In 2015 Statkraft also undertook a risk assessment, gap analysis and benchmarking focused on sanctions.

Based on the analysis of risks, a set of recommendations for how to address the gaps were developed with corresponding implementation.

Improve the adequacy of how business ethics is reflected in requirements and controls for key business processes
A number of new initiatives were implemented and/or initiated in 2015 to ensure that business ethics related risks are adequately addressed by requirements and controls in key business processes. This included dedicated preventions plans being developed for high risk entities; development of new corporate requirements for integrity due diligence reviews of business partners; and a new project focused specifically on the handling of fraud and corruption risks in financial related processes. 

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 anti-corruption. 

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.

In addition to the mandatory training roll-out in the organization in 2015 and other preventative measures undertaken, Statkraft has prepared practical guidelines that advise employees on how to handle ethical challenges.  The guidelines are a supplement to governing documents, the existing anti-corruption work manual and anti-corruption e-learning programme. In order to ensure accessibility and promote understanding - documents have been translated to different languages used by Statkraft employees.  

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 managed by the Head of Corporate Audit. The whistleblower channel was improved in 2014 and is now also open for external stakeholders. 12 whistleblower cases were registered by Statkraft Corporate Audit in 2015.