Code of Conduct and the «Telenor Way»
The Telenor Group’s commitment to integrity and transparency is clearly stated in Telenor’s Code of Conduct. The Code of Conduct is owned and approved by the Board, and is signed annually by all employees. Telenor’s Code of Conduct is overseen by the Ethics & Sustainability Committee, a subcommittee of the Board.
The current version of Telenor’s Code of Conduct was published in February 2017. Our Code of Conduct defines legal and ethical standards for how we conduct our business around the world. It is a personal responsibility of each board member, each employee and each leader in Telenor to understand the Code and the implications on their daily work. Leaders are particularly responsible for leading by example and for creating an ethical atmosphere where employees can share their dilemmas and where they can speak up and report on any breaches they observe.
To successfully navigate the changes around us and to capitalize on the opportunities, we have defined a strong platform for future growth. This is summarised in the “Telenor Way” consisting of the components Code of Conduct, Vision, Mission, Values and Leadership Attitudes. The “Telenor Way” defines our aspirations and sets the standard for how we do business. The “Telenor Way” is actively promoted through training and awareness programmes.
The Group Ethics & Compliance Officer
The Group Ethics & Compliance Officer heads the group wide Ethics & Compliance function and shall support the President and CEO and the Board of Directors in ensuring that the Code of Conduct sets the appropriate standards and that these standards are implemented and enforced. The Code of Conduct sets a high ethical standard, promotes responsible business practices and reflects relevant laws, regulations and widely recognised treaties.
The accompanying Ethics & Compliance framework defines a set of design requirements that are vital to the effectiveness of the Ethics & Compliance function. The framework contributes to high quality and consistency in the handling of Compliance Incidents. It also contains a common model for disciplinary actions aiming at a uniform practice across the Group.
The Group Ethics & Compliance Officer reports functionally to the Ethics & Sustainability Committee of the Board of Directors and administratively to the Group Corporate Affairs Officer.
In June 2015, the Board endorsed a new and enhanced group wide Ethics & Compliance organisation. The role of the Ethics & Compliance Officer in large Business Units has been turned into a full-time position while each small Business Unit has an Ethics & Compliance Advisor with a clearly defined, but limited scope. To enhance support and supervision, there is now a solid functional reporting line from the local Ethics & Compliance Officer in large Business Units to the Group Ethics & Compliance Officer.