Preventing corruption risk in operations
Before we launch activities in a new country, we perform a thorough analysis of business ethics and sanction law issues in that country. The Business Ethics Entry Assessment includes an analysis of the Corruption Perception Index assigned by Transparency International to a given country. Based on the outcome of the assessment, corporate governance in local operations is adapted to assure compliance with OMV’s ethical standards.
In 2019, our Internal Audit department carried out 18 internal compliance audits across the full range of business ethics issues (thereof 10 at OMV and 8 at OMV Petrom). Risk-related audits covering fraud and corruption issues form an integral part of the Corporate Internal Audit. Additional preventive measures were set up for OMV Petrom, such as third-party background checks of OMV Petrom’s business partners.
Company management is committed to establishing and maintaining an ethical standard of trust and integrity in our day-to-day business. Our senior management signs a Compliance Declaration to confirm that their conduct is in line with the Code of Business Ethics. New senior management also receives onboarding to introduce OMV integrity standards. It is of strategic importance for us to make sure that every single employee is fully aware of our ethical values and principles. This mission is one of the targets of our Sustainability Strategy 2025.
Sustainability Strategy 2025 target
Promote awareness of ethical values and principles: conduct in-person or online business ethics trainings for all employees
Status 2019
- In 2019, OMV introduced a Group-wide online training program for business ethics. 11,144 employees completed the online training.
- In addition, face-to-face business ethics trainings were conducted with 514 employees.
Action plan to achieve the target
- By 2020: implementation of the business ethics e-learning program in the continuous education and development program for all employees