Responsible business practices

Compliance with laws, regulations and our Code of Conduct secures our ability to operate in the Finnish society. All Fennovoima employees carry the responsibility for following the law, protecting human rights and promoting justice. We operate with absolute integrity and honesty.

Fennovoima’s Compliance & Ethics Program places special emphasis on the identified key risks associated with business ethics. These are corruption, unjust influence and conflicts of interests, risks related to the supply chain, and risks related to the neglect of legal requirements.

The Compliance & Ethics Program has been approved by Fennovoima’s Board of Directors, and the CEO carries the responsibility for its implementation. In practice, the Compliance unit is in charge of the development and follow-up of the Program, processing of concerns, and providing instructions and training to the personnel. The Compliance unit also processes suspected violations and non-conformities and implements the necessary actions.

UN Global Compact

Fennovoima is committed to complying with the 10 principles of the UN Global Compact on human rights, labor, the environment and the fight against corruption. The principles are incorporated into Fennovoima's Code of Conduct and Company Policy, and we have been continuously developing our practices to ensure that good governance, environmental issues and social responsibility are taken into account as comprehensively as possible in all our operations.

Compliance & Ethics training

Successful operation in the nuclear industry requires that all the personnel are familiar with the applicable laws and regulations and is committed to compliance with them and with the nuclear safety principles, company policy and ethical principles that steer the organization’s operations.

All our employees as well as the consultants working at Fennovoima attend a compulsory Compliance & Ethics training. This aims to ensure that all employees have an adequate knowledge of legislation and appropriate practices. In 2021, 92% of our own personnel and 71% of internal consultant (total: 89%) had completed the training.

Reporting concerns

We encourage our employees to report any suspected violations of laws, our Code of Conduct and internal regulations. These should be reported primarily to the supervisor or to the Compliance team. Fennovoima also has a so-called whistleblowing tool that allows anonymous reporting of all compliance-related observations. The tool is available to all Fennovoima employees.

For external stakeholders, Fennovoima has in place two channels for reporting compliance and ethics concerns, grievances, or potential non-compliance. You can find more information about reporting concerns or violations on our Policies and guidelines page

Absolute confidentiality is applied to all communications related to expressing concerns, and we do not tolerate any countermeasures, harassment or discrimination of persons who have submitted reports. Even an attempt of a countermeasure will lead to disciplinary action and may even lead to the termination of employment.

In 2021, we received three reports on suspected violations through our internal channel and one report through our external channels. However, after our investigations, these reports did not result in any further actions.

Continuous work against corruption

Fennovoima takes corruption very seriously and does not accept it in any form. The risk of corruption has been assessed in all own operations of Fennovoima. We have identified corruption as an essential risk particularly for the international supply chain for the Hanhikivi 1 project. Also in Finland, several reviews have found the construction industry to be one of the industries with the biggest risk for corruption to occur.

Fennovoima has versatile tools to prevent corruption. These include written Code of Conduct, instructions to prevent corruption and money laundering, which are always available to personnel online, compulsory training on prevention of corruption (as part of the Compliance & Ethics training for employees and internal consultants) and procedures for the processing of suspected and observed incidences. Any offer, promise, grant or gift must comply with applicable laws and Fennovoima’s instructions.

In 2021, there were no significant non-compliances with laws and legal requirements or confirmed cases of corruption.

Human rights impact assessment

In 2021, we launched the human rights impact assessment of Fennovoima and the Hanhikivi 1 supply chain. We carry out the assessment in accordance with the UN Guiding Principles on Business and Human Rights. The assessment enables us to identify our human rights impacts and our key areas of development as well as to define the corrective action and monitoring practices required.

Latest update on March 22, 2022.