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 creation of value in favour of various interest groups.

The work toward anti-corruption and integrity is also fundamental in order 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 feel these areas are of critical importance toward strengthening and protecting our business.

Our main principles

Our business is based on the normal/strict norms of ethics and complying with relevant regulations. We do not accept corruption or bribes in order to further business interests or personal goals. We will have internal routines of control protecting both the business and our employees against fraud and breaches of laws and regulations, and we work to strengthen the defences of our business through goal-oriented training and control. Our external alert body and clear procedures for following up alerts is an important element of these defences.

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 understanding of risk, and that it is realised to as greater a degree as possible. Concerning 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 interested parties. We strive toward a continuous internal dialogue between colleagues, managers and interested parties to ensure that our choices and decisions are well-founded and understood.

In 2014 we updated our code of conduct based on a risk assessment and made these available to all employees via our intranet. We have also established an external whistleblowing function, where all employees can report any concern relating to compliance with for example; our own code of conduct or laws and regulations.

Iwe also made efforts 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 in, or close relations with one of our suppliers.

As shown by table 4 we had no incidents of final non-compliances in 2014.

Table 4: Incidents of final non-compliances and fines imposed (in USD) in 2014

GSF entity

Incidents of non-compliances

Fines imposed (in USD)

Rogaland 0 0
Shetland 0 0
Finnmark 0 0
BC 0 0

Our ambitions and goals

We will continuously work to ensure that our regulations and policy documents focus on our most important areas of risk. We maintain our previous ambition of ensuring that we comply with both internal and external demands through holistic training, management and analysis. An important element to this work includes increasing the stream of information pertaining to conditions worthy of criticism and other opportunities for improvement. We do not accept corruption or bribes in order to further business interests or personal goals. In 2015 we will work to raise awareness of our code of conduct, and of our external body for alerts and procedures for proper follow-up of alerts..