statoil’s anti-corruption compliance programme stockholm 14 november 2012 erik i. nürnberg,...
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Statoil’s Anti-Corruption Compliance ProgrammeStockholm 14 November 2012Erik I. Nürnberg, Senior Legal Counsel
The Anti-Corruption Compliance Programme Jakarta, 21 October 2015
Countering Illicit Financial Flows in the Extractive Industry
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Classification: Internal 2011-09-05Classification: Internal 2011-08-22
2 - Classification: Internal 2011-08-22
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Classification: Internal (Restricted Distribution) 2010-10-27
Statoil operates in challenging countries
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The global legal framework for our business
4 -Classification: Internal 2010-
08-19
• Norwegian law (Civil Penal Code §§276a-c)
• The US FCPA (part of Securities and Exchange Act)
• The UK Bribery Act 2010
• In addition to all applicable local law
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Anti-corruption work in StatoilOur starting point
Classification: Internal 2012-08-245
• Statoil believes that a zero-tolerance policy on corruption is essential to sustainable business.
• Statoil confirms in its Code of Conduct that it opposes all forms of corruptions and will make active efforts to ensure that it does not occur in the group’s business activities.
• Statoil defines corruption to also include facilitation payments and trading in influence.
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Anti-corruption efforts headed by LegalOur work – three pillars
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Anti-Corruption Compliance ProgramPieces of the Pie
Top Level Commitment
Risk Assessment
Policies and Procedures
Accounting and financial
controls
Communication
Monitoring and Review
Due Diligence
Classification: Internal 2012-05-11
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CEO Eldar Sætre
“At Statoil, the way we deliver is as important as what we deliver.”
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Anti-Corruption Compliance ProgramPieces of the Pie
Top Level Commitment
Risk Assessment
Policies and Procedures
Accounting and financial
controls
Communication
Monitoring and Review
Due Diligence
Classification: Internal 2012-05-11
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Ethics Code of ConductOur staring point
Classification: Internal 2012-05-11
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Applies to:o The organization and to it’s individual
employeesoBoard members
oHired personnel, consultants, intermediaries, lobbyists and others who act on Statoil’s behalf
Includes:oCode of business practice
oCode of personal conduct
o Practice and follow-up
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Anti-Corruption Compliance ProgramPieces of the Pie
Top Level Commitment
Risk Assessment
Policies and Procedures
Accounting and financial
controls
Communication
Monitoring and Review
Due Diligence
Classification: Internal 2012-05-11
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Training and communicationVisible and repeated
• Mandatory e-learning for all employees
• Tailor-made workshops for employees, suppliers and business partners
• Ethics committees
• Engagement in compliance networks
• Involvement in contract negotiations, projects and business development work
12 - Classification: Internal 2011-09-05Classification: Internal 2011-08-22
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Anti-Corruption Compliance ProgramPieces of the Pie
Top Level Commitment
Risk Assessment
Policies and Procedures
Accounting and financial
controls
Communication
Monitoring and Review
Due Diligence
Classification: Internal 2012-05-11
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Classification: Internal 2011-09-05Classification: Internal 2011-08-22
14 - Classification: Internal 2011-08-22
Monitoring and follow-upExamples of what we do
− Regular follow-up of partners through company representatives
− Local compliance officers
− Annual risk assessment
− Financial and accounting controls
− Audits & verifications
− Ethics Helpline and regular reporting lines
− Revenue transparency reporting
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Statoil has reported payments to governments on a country-by-country basis for a decade
• Disclosing payments to governments is important to prevent corruption and tax evasion – it enables communities to hold governments accountable
• For a decade, Statoil has voluntarily disclosed payments to governments on a country-by-country basis in the Annual Sustainability Report
• Statoil has a strong legacy of being open about payments to governments:
− We have been rated as the «World’s most transparent company» by Transparency International due to our voluntary disclosures
− We are a supporting company of the Extractive Industries Transparency Intiative (EITI) and hold a seat on the global EITI Board
• In 2014, we reported payments to governments on a project-by-project basis, aligned with the new requirements in Norway
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The Norwegian transparency rule• In December 2013, amendments to the Norwegian Accounting Act (Regnskaploven) and the
Norwegian Securities Act (Verdipapirhandelloven) were passed, requiring disclosure of payments to governments for large extractive and logging companies
• Payments to governments must be disclosed at project and country level (similar to EU), and to each government entity:
− Tax, royalties, bonuses, fees, production entitlements, dividends, infrastructure improvements and transferal of shares/ownership rights
• In addition, ‘contextual information’ must be disclosed:
− investments, revenues, purchase of goods and services and production volumes per country
− All subsidiaries, including the country of origin, number of employees and each subsidiary’s intercompany interest expenses to other subsidiaries in other jurisdictions
Reporting period
Filing March 2015
2015 20162013
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Payments to Governments (link)
Classification: Internal 2012-08-2917
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Classification: Internal 2012-08-2918
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Classification: Internal 2012-08-2919
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Classification: Internal 2010-12-09Classification: Internal (Restricted Distribution) 2010-12-03Classification: Internal 2010-12-01Classification: Confidential 2010-10-26Classification: Internal 2010-10-24
Classification: Internal (Restricted Distribution) 2010-12-03Classification: Internal 2010-12-01Classification: Confidential 2010-10-26Classification: Internal 2010-10-24
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Thank you