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Fighting Corruption & Business Ethics
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Why is it material?
Corruption is one of the main obstacles to sustainable economic and social development, since it sustains businesses that do not operate competitively, to the detriment of healthy, law-abiding economic activity. In addition, it undermines the viability of the firm involved, since it advances an attitude of illegality and unethical conduct at the risk of grave negative consequences for the operation and reputation of the firm.
The Code of Conduct applied at the HELLENIC PETROLEUM Group includes special provisions prohibiting actions and conduct that constitute acts of corruption and providing for severe penalties when such actions are identified.
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Our approach
In its Code of Conduct, the Company specifically provides for a strict prohibition against actions or conduct that could encourage phenomena of corruption, the observance of which is mandatory for both the Group’s Management and personnel and its external associates and suppliers.
The Code of Conduct provides for the operation of the Regulatory Compliance Unit, which ensures that rules on this issue are implemented, and offers advice in connection thereto, but also investigates complaints or reports about incidents concerning the violation of such rules.
Furthermore, the internal structure and corporate governance of the Group’s companies provide for adequate safety valves, including joint action by two or more persons and internal approvals and controls, so as to prevent corruption.
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Our ambition
The aim of the HELLENIC PETROLEUM Group is that its activities be fully lawful, ethical, and in line with the principles of healthy competition. Therefore, it applies a zero tolerance policy towards incidents of corruption. The Regulatory Compliance Unit offers advice about avoiding actions that could be construed as acts of corruption and investigates any related report.
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Sustainable Development Goals (SDGs)
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The Code of Conduct summarises the principles governing the internal operation of the Group in Greece and abroad, determining its manner of operation for attaining the business goals set each time in order to ensure the Group's viability and progress. It is a guide for all personnel, but also third parties working with HELLENIC PETROLEUM.
The procedure of acceptance and reconfirmation of the said commitment is repeated at regular intervals by the Group's Human Resources and Administrative Services General Division. The Code has been translated into all the languages of the countries where the Group is active and into English.
During the four years of implementing the Code of Conduct, executives and employees of the Group’s companies have received systematic training regarding the content of the Code and how it operates, as well as on the operation of the Regulatory Compliance Service (http://sustainabilityreport2017.helpe.gr/en/corporate-governance-and-regulatory-compliance/compliance-service/).