The Scatec Solar way
Our Ethics Policy is derived from our core values were we continuously are working together to maintain the highest of ethical standards whilst ensuring a sustainable and socially responsible growth.
We are changemakers bestowing our values, corporate governance, zero tolerance on sanctionable practices, relentless focus on Health, Safety, Security and Environment, and our respect for human rights, in all markets we operate.
We will predictably be a trusted partner, with the highest of ethical standards, always adhering to applicable law.
Lastly, we will strive to always be driving results without ever compromising our values and expect our partners and stakeholders to adhere to the same.
Being a trusted business partner
We depend on a sustainable business environment and always seek to comply with high standards of business ethics. The selection of, and cooperation with, business partners including suppliers, consultants, local partners, banks, govern¬ments and local authorities is vital to ensure a non-corruptive business environment.
As a global company with strong growth in emerging markets, Scatec Solar operates in countries with high levels of corruption as per the Transparency International Corruption Perceptions Index.
We undertake thorough assessments of the potential host country, region and partners before we decide to conduct our business. We always perform due diligence of potential partners and suppliers through a screening process to identify heightened risk or blacklisted individuals and organisations. This includes using renowned third-party international risk-specialists to conduct background checks of business partners and individuals. Some of our main financial collaborators such as Norfund, the International Finance Corporation (IFC), member of the World Bank Group, and other leading Development Banks are widely acknowledged for having high ethical standards and rigorous due diligence requirements.
Scatec Solar is committed to develop all projects in accordance with the IFC Performance Standards and the Equator Principles. This includes for example the screening of all potential partners against the World Bank Listing of Ineligible Firms & Individuals. All subcontractor and suppliers must adhere to our Supplier Conduct Principles.
Compliance & anti-corruption
Scatec Solar has, and will continue to take, the forefront in combating corruption and other sanctionable practices worldwide.
Our Anti-Corruption Program is embedded in our Operating System requiring that all compliance risks must be identified, fully understood and cleared in order for a project to move through all applicable decision gates. This entails thorough risk assessments, mapping of all regulatory processes and awards, and full integrity due diligence of all stakeholders
and contracting parties.
Our zero tolerance principle is the foundation of our Ethic’s Policy, Anti-Corruption program and Partner Conduct Principles, all of which, together with applicable rules and legislation, form an integral part of our onboarding process as well as quarterly training to all employees. As with HSSE, Compliance must be in our DNA and take part in any business decision we make.
We are working together to combat corruption and other sanctionable practices worldwide. This means that we will comply with Human Rights, the Equator Principles, the IFC Performance Standards, all applicable sanctions, and any anti-money laundering regulation. Lastly, we will combat any discrimination and harassment, and ensure equal opportunities.
If you have experienced any deviation to any of the above, please do notify us by using our Whistleblowing channel.
- Maintain a zero-tolerance principle to bribery and corruption
- Continuously strive to maintain high ethical standards
- Build a culture that values honesty, integrity and transparency, and require each partner and/or supplier to adhere to the same
- Conduct risk assessments of potential partners, operating countries and locations to assess governance-related risk such as criminal records, creditworthiness, breaching sanctions and engaging in bribery and corruption
- Ensure that our own high standards of anti-corruption behaviour are clearly reflected in contracts with our partners
- Provide anti-corruption training for all employees
- Pass all solar projects through four separate decision gates where screening, compliance and risk of corruption must be cleared
“We work systematically to prevent corruption and unethical practices in all projects and operations”
– Snorre Valdimarsson, EVP Legal Counsel