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Promoting Business Ethics: Baltic Challenges / Nordic Experience Use of ethic codes in Norwegian companies Tallinn, Apri

Promoting Business Ethics: Baltic Challenges / Nordic Experience Use of ethic codes in Norwegian companies Tallinn, April 2 4 2009 Arvid Halvorsen Adviser, TI Norway. It starts with values. Company values usually cover business, ethics and social responsibility themes.

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Promoting Business Ethics: Baltic Challenges / Nordic Experience Use of ethic codes in Norwegian companies Tallinn, Apri

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  1. Promoting Business Ethics: Baltic Challenges / Nordic Experience Use of ethic codes in Norwegian companies Tallinn, April 24 2009 Arvid Halvorsen Adviser, TI Norway

  2. 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

  3. Use of code of ethics in Norway - history Use of ethics codes began in the late 90’ies It started with the largest and most international companies Includes rules to cover legal requirements and norms The code is company internal law Sizes of codes range from 1 to 30 pages

  4. Use of code of ethics in Norway - present Use of codes is growing, but slowly Very few SMEs have a code Some companies have added anti-corruption programmes Some of the early starters have upgraded their codes on: Facilititation payments Conflict of interest Use of tax havens Requirements on suppliers

  5. Typical content of Norwegian companies’ ethic codes Codes used by Norwegian companies cover many subjects. Typical subjects related to corruption: 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

  6. 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

  7. Ethic codes in Norway’s pharmaceutical, real estate and construction sectors 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.

  8. Thank you!

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