Compliance

Elkem is committed to full compliance with applicable rules and regulations wherever we operate around the world. Compliance is the responsibility of each business unit, but is also followed closely through the corporate system for internal boards and monthly business reviews as defined in the Elkem board of directors´ instructions.

Elkem’s board of directors endorses "The Norwegian Code of Practice for Corporate Governance" (the "Code") most recently revised 17 October 2018 and issued by the Norwegian Corporate Governance Policy Board (NCGB). The Code of Practice is available on http://www.nues.no/

All employees are given documented training on Elkem’s code of conduct and must sign the document to confirm their understanding and commitment to follow it. This includes training on Elkem policies related to business ethics, social responsibility and understanding how local culture and customs can influence the perception of what is acceptable in different situations. Training on Elkem’s anti-corruption and competition law compliance policies is also required for targeted groups. Sales, marketing and procurement resources also receive anti-corruption training. Elkem employees responsible for supplier audits receive additional training using recognised international audit standards and tools.

Elkem’s CEO is the formal owner of Elkem’s policy and programme for corporate social responsibility while governing documents are subject to board approval. The board of directors approves the sustainability report together with the annual report. The CSR steering committee is responsible for the sustainability report.

Each location and function are responsible for establishing a shared understanding of how Elkem’s CSR policy affects their specific working environment. They are also responsible for developing necessary procedures and routines to ensure full compliance.

Incidents in 2019
There were no identified material incidents of non-compliance with laws and regulations in 2019.