Corporate policies and compliance

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. 

It is crucial that all activities are performed honestly and responsibly. We comply with all applicable legislation, protect human and labor rights, employ fair labor practices, and never accept any form of bribery or corruption.

The Fennovoima Code of Conduct and Company Policy define the responsible way to implement all our operations that everyone working for Fennovoima is required to adhere to in all actions.

The Code of Conduct incorporates the principles that are taken into account in all of our actions and operations. Our Code of Conduct follows the principles of the United Nations’ Global Compact, which promotes sustainable development and responsible business practices. Fennovoima expects its suppliers to comply with Fennovoima’s policies and with all applicable laws.

Fennovoima Company Policy supports our mission, vision and strategy. The Company Policy defines the principles according to which Fennovoima takes care of nuclear and radiation safety in its functions, ensures the quality of its activities and products and secures the working environment. It includes aspects related to nuclear and radiation safety, quality, human resources, occupational health and safety, security, environment, and communication. Our Company Policy was last updated in 2016. A revision of the Company Policy is made on a regular basis, according to the Fennovoima Management System processes.

Development of the Compliance and Ethics Program

A new Compliance function was established to develop the Compliance and Ethics Program and is responsible for the Compliance and Ethics Program planning and development, handling compliance concerns, providing advice and training to the organization and taking necessary actions regarding suspected compliance violations.

All of the new contractual parties of Fennovoima are expected to confirm awareness of the content and to comply with the Code of Conduct as part of the contract. In 2017 the Fennovoima external audit program will include specific compliance related parts.

The Compliance and Ethics Program includes the following main components:

Strategic and organizational planning: The Fennovoima 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 register. The Compliance Program is approved by the Board of Directors while the CEO acts as its owner. The CEO is responsible for the Compliance and Ethics Program being executed and complied with in Fennovoima. Regular reports are made to the Board of Directors about the fulfilment of the Program principles.

Compliance function: A team of compliance professionals provides advice and training to the Fennovoima organization.

Policies and instruction: The Fennovoima Compliance and Ethics Program includes the Code of Conduct and the instructions on prevention of money laundering and terrorist financing and the instructions on anti-bribery and corruption.


Compliance tool: A new independent whistleblowing tool that enables anonymous reporting was developed during 2016. The tool has been made available to allow employees sharing concerns relating to compliance even anonymously. The Compliance Function is responsible for evaluating all received reports of suspected compliance violations and ensuring that appropriate action is always taken. 

At Fennovoima, the primary way of raising compliance concerns is reporting 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.

Training: A compulsory training on compliance matters is organized to all Fennovoima employees during 2017.

Compliance risks

In 2016 a risk assessment related to corruption was conducted covering Fennovoima’s entire operations. The main areas with risk exposure were identified to include potential risks of corruption, unjust influencing, conflicts of interest, non-compliance with legislation and risks relating to the supply-chain. Based on the risk assessment the Fennovoima Compliance and Ethics Program was developed to mitigate the identified risks. Implementation of the Program is planned for 2017.

During 2016 there were no legal proceedings relating to compliance violations.

UN Global Compact initiative

As part of the Compliance and Ethics development, Fennovoima signed the United Nations Global Compact initiative and agreed to align the company strategy and operations with the ten principles concerning human rights, labor, envirnment and anti-corruption.

Fennovoima's commitment was approved by the UN in January 2017.

Our approach to anti-bribery and anti-corruption

Fennovoima operates fairly and does not offer improper benefits to others; nor do we accept them. No employee may directly or indirectly offer, promise, grant or authorize the giving of money or anything else of value to anyone to influence official action or to obtain an improper advantage. Any offer, promise, grant or gift must comply with applicable laws and Fennovoima's instructions.

Business party identification procedures are a part of internal risk assessment. Fennovoima takes potential cases of corruption seriously and responds to them professionally. All necessary actions will be started without delay.

Our approach to money laundering

Fennovoima is committed to international standards of preventing money laundering and terrorist financing and complies with applicable laws. We have set up appropriate risk-based identification and due diligence procedures for suppliers and other contracting parties. These are designed to minimize risks of receiving, or being involved in arrangements where funds come from illegal sources.

Fennovoima is committed to reporting any violations to the authorities.