Corruption is one of the main obstacles to sustainable economic and social development, since it sustains businesses that do not operate competitively, at the expense of healthy, law-abiding economic activity. In addition, it undermines the viability of the entity involved, since it promotes an attitude of delinquent and unethical conduct, at the risk of significant negative consequences for the operation and reputation of the business.
The Group’s Code of Conduct includes special provisions prohibiting actions and conduct that constitute acts of corruption providing for severe sanctions if such actions are identified.
In its Code of Conduct, the Company specifically provides for a strict prohibition against actions or any conduct that could encourage corruption, the observance of which is mandatory for both the Group’s Management and personnel as well as 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 safeguards, including joint action by two or more persons and internal approvals and controls, so as to prevent corruption.
The aim of HELLENIC PETROLEUM Group is to operate in a fully lawful and ethical manner 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 on avoiding actions that could be construed as acts of corruption and investigates any relevant report.
Code of Conduct -
Ethics & Transparency
The Code of Conduct sets out the principles governing the Group’s operations in Greece and abroad and determines how it operates in order to achieve its business goals with the ultimate goal of securing its sustainability and growth. The Code of Conduct is binding on all Group employees, in Greece and abroad, as well as every third party that deals with HELLENIC PETROLEUM Group.
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 six years of the Code of Conduct’s implementation, there has been systematic training of the executives and employees of the Group companies regarding the content of the Code and
its basic commitments. At the same time, there is a Regulatory Compliance Office which provides for the implementation of its provisions, as well as investigating petitions or complaints about breaches of the above rules.
The Company is in the final stage of drafting a Conflict Prevention Policy, which will be part of the Code of Conduct. At the same time, the Code of Conduct is in the process of evaluation and review, so that it can be further improved.
The HELLENIC PETROLEUM Group has drafted a Competition Policy and a manual of compliance. The relevant text was approved by the 1316/6/22.3.2018 decision of the BoD. This Policy reflects the Group’s on-going commitment to comply with the provisions of Greek and European legislation on competition, and with the competition laws of the countries in which it is active. Furthermore, it aims at helping the Group’s Management, executives and employees to understand the fundamental rules of Fair Competition and their impact on the Group’s day-to-day operation and the formation of its business practices.
The implementation of the Group’s business objectives, in compliance with the rules of Fair Competition, contributes to Sustainable Development, strengthens the Group’s competitiveness and averts any violations regarding the legislation on competition, which expose the Group and each staff member personally, at the risk of very severe penalties.
HELLENIC PETROLEUM Group ensures that the practices followed concerning personal data protection are in line with the European Data Protection Regulation, internationally recognized best practices and modern technological developments. In order to ensure the sound governance of personal data issues, in all organizational units and subsidiaries in Greece and abroad, the Group appointed a Group Data Protection Officer as well as Privacy Protection Officers for its organizational units and subsidiaries. This way, an organizational structure was created throughout the Group in order to optimize the implementation of the Data Protection Policy and the individual procedures and actions with which the Policy is implemented in the context of the day-to-day activities of the Group.
The Group aims to ensure that its activity is fully in line with current legislation and is governed by transparency and respect for the rights of its Personnel, Customers, Suppliers and Partners.