Statkraft: more efficient and cost-effective companies thanks to compliance programs

29.09.2016 | news

Maja De Vibe, Head of Corporate Compliance in Statkraft, explained in different forums the value and the opportunities of having good anti-corruption controls in businesses.

In times when around one third of global companies have been involved in corruption cases in the last 12 months, establishing a strong business ethics program is an important task for global companies. For this reason, Maja De Vibe, Head of Corporate Compliance in Statkraft, expert in high-risk areas, visited Lima, and gave presentations on the importance of business ethics as a cornerstone for value creation and protection in companies.

The expert refers that corruption results in high costs both for societies and companies. “OECD estimates show that the cost of corruption equals more than 5% of global GDP (US$ 2.6 trillion, World Economic Forum) with over US$ 1 trillion paid in bribes each year (World Bank),” she remarked.

Statkraft’s specialist points out that working on prevention is of paramount relevance in a company, as evidence shows that companies that invest the necessary management attention and support experiencie clear benefits as a result. “Research has supported the idea that having a good reputation pays off in lower costs, higher sales, and the ability to charge higher prices than firms with poor reputation can,” explained Maja De Vibe.

In order to create a strong compliance program, the expert recommends the “Good Practice Guidance for Companies” published by the Organization for Economic Co-operation and Development’s Working Group on Bribery in International Business Transactions (the “OECD Guidance”) as a good reference point.

It should be noted that De Vibe was part of the speakers panel of the II International Infrastructure Congress and gave presentations on this issue to directors and managers of different companies, in arenas provided by the National Mining, Oil and Energy Society, the American Chamber of Commerce and the Peruvian Nordic Chamber of Commerce.