Integrity & Anti-corruption

WHY IS IT IMPORTANT TO US?

Integrity in all parts of our business and activities helps safeguard us against disruptions, sanctions, loss of reputation, and contributes toward protecting our value creation for various stakeholders. The efforts spared on anti-corruption and integrity, also prove fundamental to live in accordance with our values of openness and respect.

When it comes to regulatory compliance, we pay special attention to the regulations pertaining to our industry in addition to anti-corruption regulations, ensuring competition and workers’ rights. We believe these areas are of critical importance to strengthen and protect our business.

OUR MAIN PRINCIPLES

Our business is to base itself on normal/strict norms of ethics, and to comply with relevant regulations. We do not accept corruption or bribes in order to promote business interests or personal goals. We will have internal control procedures to protect both the business and our employees against fraud and breaches of laws and regulations, and we strengthen the defense of our business through targeted training and control. Our external warning central and defined procedures to follow up warnings are both important elements of these defenses.

OUR EFFORTS AND RESULTS

In order to promote integrity we work continuously to make sure that our main principles will remain perennial when it comes to our conception of risk, and that it is realised as far as possible. With integrity we do not just mean compliance with laws and regulations, but also a continuous awareness of the effect of our strategies, activities and results on our surroundings and stakeholders. We strive to keep a continuous internal dialogue between colleagues, managers and stakeholders to ensure that our choices and decisions are well-founded and understood.

Our code of conduct is based on a risk assessment and was updated last time in 2014. The code of conduct is available to all employees via our intranet. We also have an external whistleblowing function, where all employees can report any concern relating to compliance with f.i. our own code of conduct or relevant codes. In 2016, we reviewed our ethical framework and scheduled a new audit for 2017. As seen in chart 10, no events implied deviance from code or governmental fines in 2016.

Chart 10: Incidents of final non-compliances and fines

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Chart 10 shows that we were fined NOK 900 000 by the Norwegian Food Safety Authorities in 2015 after an incident in Finnmark in 2014. The fine was imposed due to failed use of the contingency plan.

We also carry out measures to reduce the risk of conflicts of interest. One such measure has been to ensure that all members of the group and local management report any relations that might impact their ability to be impartial. This could include ownership of, or close relations with one of our suppliers.

OUR AMBITIONS AND GOALS

We will work continuously to ensure that our regulations and policy documents focus on our most important areas of risk. We maintain our previous ambition of securing compliance, both with internal and external demands through overall training, management and analysis. An important element of this task is to increase the stream of information on criticisable conditions, as well as other areas of improvement. We do not accept corruption or bribes in order to further business interests or personal goals. Grieg Seafood has established a whistleblower policy through E&Y. Information about this is available to all our employees on our intranet.