Responsible business practices

Compliance with applicable laws, regulations and ethical guidelines is crucial for Fennovoima's success.

Our practices

Fennovoima aims to be a world-class nuclear power company with a good safety culture and the highest level of integrity in everything we do.

Fennovoima’s Compliance and Ethics Program is based on inserting compliance into the overall strategy process and into the existing Fennovoima Management System and the related risk management processes. The Compliance Program is approved by the Board of Directors, while the CEO is responsible for the Compliance and Ethics Program being executed and complied with in Fennovoima.

Fennovoima has defined the three most significant goals related to responsible business practices of our operations. These goals are compliance with legal requirements, consistent protection and support of human rights, and continuous work against corruption in all its forms.

The fulfilment of the targets defined for these goals is monitored by Fennovoima’s Compliance function, which is responsible for the planning and development of the Compliance and Ethics Program, handling compliance concerns, providing advice and training to the organization, and taking necessary action regarding suspected violations of compliance.

Our key policies and guidelines for responsible business practices are the following:

  • The Fennovoima Code of Conduct (which incorporates the principles that are considered in all our actions and operations.)
  • The Company Policy (which defines the principles according to which Fennovoima takes care of nuclear and radiation safety in its functions and ensures the quality of its activities and products. It includes aspects related to nuclear and radiation safety, quality, human resources, occupational health and safety, security, environment, and communication.) 
  • Instructions on preventing money laundering and terrorist financing (Fennovoima is committed to international standards preventing money laundering and terrorist financing, and complies with applicable laws.)
  • Instructions on anti-bribery and anti-corruption (Fennovoima has zero-tolerance to bribery and corruption)
  • The principles of the UN Global Compact (which is a voluntary initiative to implement universal sustainability principles in our operations and actions)

More information on the Compliance and Ethics Program can be found at our website: Policies and guidelines.


Compliance with legal requirements

We comply with all applicable legislation, protect human and labor rights, employ fair labor practices, and never accept any form of bribery or corruption.

Fennovoima conducted a third-party compliance risk assessment in 2016. The main areas with risk exposure were identified as potential risks of corruption, unjust influence, conflicts of interest, non-compliance with legislation, and risks relating to the supply chain.

According to a follow-up assessment conducted in 2017, Fennovoima’s Compliance and Ethics Program covers the above-mentioned risk areas. Also, Fennovoima’s supply chain management practices have been developed to cover the monitoring and management of these matters (more information in the Supply Chain Management chapter of this report).

Compliance and ethics training

Fennovoima’s personnel and in-house consultants have been trained to ensure the employees have sufficient knowledge of the legislation

and the correct procedures for how to act in case there are any suspected breaches. At the end of the year 2017, over 88 percent of Fennovoima's employees and in-house consultants had attended the training. The training will continue during 2018 also as part of the induction training for new employees, and targeted interactive group training sessions will be developed.

Reporting compliance concerns

At Fennovoima, the primary way of raising compliance concerns is to report them to the person’s direct supervisor or to the Compliance function. The Compliance function is available and encourages employees to raise their concerns, ask in case of any questions, and speak up if they suspect any misconduct or violations.

Fennovoima also has an independent whistleblowing tool that enables anonymous internal reporting of any compliance concerns. The Compliance function is responsible for evaluating all reports received of suspected compliance violations and ensuring that appropriate action is always taken. During 2017, none of the reports received required action.

Significant non-compliances with laws and legal requirements 2017 2016
Fines or non-monetary sanctions for non-compliance in the social and economic area 0 0

 


Protection and support of human rights

According to the Constitution, Finland adheres to international treaties of human rights. Fennovoima’s Code of Conduct emphasizes the compliance with laws and regulations, and the importance of human rights protection in the supply chain.

During 2017, Fennovoima’s contract templates were reviewed, and all new contracting partners of Fennovoima must confirm their compliance with the Fennovoima Code of Conduct as part of the contract.

Our aim is to conduct a follow-up of all contracts during 2018. Compliance and ethics assessments will be implemented in Fennovoima’s procurement and supply chain management procedures from 2018 onwards.

Also, a specific steering committee will be established to analyze compliance concerns raised in supplier pre-qualification and supplier reviews, and to make decisions concerning the required corrective actions or consequences.


Continuous work against corruption in all its form

Fennovoima has zero tolerance for bribery and corruption. All Fennovoima’s operations were assessed for risks related to corruption as part of the third-party compliance risk assessment conducted in 2016. Fennovoima’s Compliance and Ethics Program provides instructions, training, monitoring and processes to handle incidents of suspected corruption and violations. In 2017, there were no incidents where Fennovoima employees were found to have been involved in corruption.

To prevent money laundering and terrorist financing, we follow risk-based identification and due diligence procedures for suppliers and other contracting parties.

Anti-corruption training is part of the compliance and ethics training that is mandatory for all Fennovoima employees and in-house consultants. Our anti-bribery and anti-corruption instructions are available on the intranet for all employees. Fennovoima’s Compliance function is available to provide further advice for the personnel and, if necessary, to take action regarding any suspected compliance violations. All compliance concerns are taken seriously and handled confidentially.

There were no incidents where Fennovoima employees were found to have been involved in corruption.

Corruption 2017 2016
Incidents of corruption 0 0