Hydro does not tolerate corruption in the private or the public sector. We are committed to complying with all applicable laws and regulations enacted to fight corruption and bribery. We prohibit payments of bribes and kickbacks of any kind, whether in dealings with public officials or individuals in the private sector.
Its purpose is to prevent corruption throughout Hydro’s business activities and it applies to all persons working for or on behalf of Hydro.
We believe that clear guidelines and targeted training will enable our employees to make sound ethical decisions. We provide a variety of risk-based trainings to employees across our global organization. Our risk-based approach also includes internal controls and how we work with our business partners.
Collective actions and other collaborations
Although our own actions are critical, we believe that collective action is required in the fight against corruption. These are some of collaborative initiatives we are committed to:
Transparency International (TI)
TI, which is a global movement for a world free of corruption, works with governments, businesses and citizens to stop the abuse of power, bribery and secret deals. Hydro has had a partnership with TI for many years. Hydro has been on part of the working group for the establishment of both the “Business Principles for Countering Bribery” and “10 Anti-Corruption Principles for State Owned Enterprises”.
Maritime Anti-Corruption Network (MACN)
The Maritime Anti-Corruption Network (MACN) is a global business network working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large, and has become one of the pre-eminent examples of collective action to tackle corruption. Hydro became a member of MACN in 2017. The network provides Hydro with valuable insight into specific challenges within the maritime industry and how Hydro as an important part of the supply chain can contribute to the solutions with a more targeted approach.
Ethos Institute Brazil
Alunorte, Hydro Energia, Hydro Extrusion Brasil, Albras, Mineração Paragominas and Norsk Hydro Brazil are signatories of the Business Pact for Integrity and Against Corruption. The pact is developed by the Ethos Institute in partnership with global organizations such as the United Nations and the World Economic Forum, seeking to unite companies with the objective of promoting a more ethical market and to eradicate bribery and corruption in Brazil. As signatory companies are committed to disseminate Brazilian anti-corruption legislation among their employees and contractors and ensure that it is fully complied with, as well as to advocate values such as transparency and collaboration with the authorities.
Partnering Against Corruption Initiative (PACI) – World Economic Forum
Hydro is a signatory to PACI’s anti-corruption principles. the PACI Principles serve as a call to action for businesses around the world to commit to zero tolerance of corruption in all its forms.
Updated: February 16, 2022