We believe one of the key factors in being successful as a company originates in conducting business with integrity and high ethical standards. As an industry leader, we obey the law, act responsibly and uphold an ethical business conduct wherever we operate.
Our values, Code of Conduct and our Supplier Code of Conduct define how we treat others, engage in business, safeguard our corporate assets, and how we expect our suppliers and business partners to operate.
In line with the Code of Conduct, we have zero tolerance for corruption and fraud and do not award donations to political parties or political activities, religious organisations, authorities, municipalities or local administrations.
Curiosity
We question the status quo and have the courage to explore.
In the transforming energy sector, we explore new opportunities, and continue to learn and co-create solutions for a cleaner world.
Responsibility
We have a strong sense of responsibility.
We take responsibility for both our own work and our collective impact on the society. We create sustainable solutions that are based on stakeholder insight. We never compromise on workplace safety.
Integrity
We believe in transparency.
We run our business in an ethical manner that exposes every challenge, every success and every milestone. We have no hidden agendas and follow our Code of Conduct in our everyday business and work practices.
Respect
We greatly value each other and all our stakeholders, such as our customers and partners.
Our success derives from maintaining a diverse and inclusive company culture where everyone feels empowered to thrive and reach their full potential.
The compliance risks related to our business operations include the potential risk of bribery or corruption, fraud and embezzlement, non-compliance with legislation or company rules, conflicts of interest, improper use of company assets, and working under the influence of alcohol or drugs.
Compliance risk management is an integral part of our business operations, and key compliance risks, including action plans, are identified, assessed and reported annually. This also applies to the management of risks related to sustainability.
We have a SpeakUp channel for reporting any suspected misconduct relating to the environment, labour practices or human rights violations, and it is available to all stakeholders.
We fully subscribe to the values embodied in the UK Modern Slavery Act 2015 and condemn any occurrences of practices contravening the Act. We expect our business partners to act responsibly and to comply with the Fortum Code of Conduct and our Supplier Code of Conduct. We have in place internal reporting as well as supplier assessment processes to ensure our policies and codes of conduct are complied with.
We have local operations and tax contributions in more than 15 countries. We pay taxes always in the country where our business operations are located and where the added value is generated, in accordance with the normal local regulations.
The country-specific reporting of taxes has become an important topic in international and national public and political discussions. The aim of public, country-specific tax reporting is to impact primarily so-called aggressive tax planning. Fortum annually publishes its tax footprint. In this report, in addition to taxes borne and collected per country, we tell about the principles we follow in our risk management and other factors that are crucial to understand our tax footprint. We have published also tax principles decided by Fortum Oyj Board of Directors.
We are exposed to changes in taxation and how local tax authorities interpret tax laws. We aim to identify simple and cost-efficient solutions supporting our business as a whole to manage taxes in a sustainable manner. Artificial or other aggressive solutions are not being used, and legality and honesty are highly valued.