Transcript Use of code of ethics in Norway

Promoting Business Ethics:
Baltic Challenges / Nordic Experience
Use of ethic codes in Norwegian companies
Tallinn, April 24 2009
Arvid Halvorsen
Adviser, TI Norway
It starts with values
Company values usually cover business, ethics and social
responsibility themes.
Some companies believe in clearly expressed values that are well
implemented:
 It contributes to a strong and consistent company culture
 It builds pride and loyalty
Some use values as window-dressing
Typical ethics related values:
 Transparency
 Honesty
 Respect
 Integrity
Use of code of ethics in Norway - history
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Use of ethics codes began in the late 90’ies
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It started with the largest and most international companies
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Includes rules to cover legal requirements and norms
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The code is company internal law
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Sizes of codes range from 1 to 30 pages
Use of code of ethics in Norway - present
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Use of codes is growing, but slowly
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Very few SMEs have a code
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Some companies have added anti-corruption programmes
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Some of the early starters have upgraded their codes on:
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Facilititation payments
Conflict of interest
Use of tax havens
Requirements on suppliers
Typical content of Norwegian companies’
ethic codes
Codes used by Norwegian companies cover many subjects.
Typical subjects related to corruption:
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Whistle-blowing
Conflict of interest
Fraud
Bribes, gifts and favours
Political contributions
Financial interests in other businesses
Activities with competitor or suppliers
Confidential information
Competition rules
Insider trading
Code of ethics examples
DnB NOR Group (Norway’s largest bank and real estate company)
https://www.dnbnor.com/corporate_responsibility/deskcorporate_responsibility.html?LA=EN
Norsk Hydro (aluminium company)
http://www.hydro.com/en/About-Hydro/Corporate-governance/Prinsipper/
Statoil (oil and gas company)
http://www.statoilhydro.com/en/AboutStatoilHydro/EthicsValues/Pages/Ethics.aspx
Norway’s Ministry of Modernisation
http://www.regjeringen.no/en/dep/fad/Documents/Handbooks-and-brochures/2005/Ethical-Guidelines
for-the-Public-Service-2.html?id=88164
Ethic codes in Norway’s pharmaceutical, real
estate and construction sectors
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Some have company values
Very few have ethic codes
Corruption risks with companies in these sectors:
 Pharmaceutical Improper influencing of doctors and drug store chains
 Real Estate Is paid by seller and cannot be fully trusted by buyer
 Construction Bribes, kick-backs, gifts, hospitality, etc.
Thank you!