Business Ethics
NOVATEK is fully committed to ethical conduct: the Company not only strictly complies with Russian law but also adheres to relevant international standards.
To minimize conduct risks, the Company is governed by the Code of Business Conduct and Ethics that establishes the basic principles and standards of business ethics. NOVATEK builds its relationships with stakeholders based on honesty and reliability, respect for rights, social responsibility and professionalism.
Human Rights
The Human Rights Policy enshrines NOVATEK’s fundamental principles, including a zero-tolerance approach toward any kind of discrimination or persecution, respect for our people’s freedom of association, the prohibition of child and forced labor, ensuring a safe and healthy working environment and decent working conditions, respect for the rights, culture, and customs of local communities, etc.
All employees of NOVATEK Group receive ongoing training in ethical conduct and zero tolerance approach to illegal activities. To this end, the Company has developed and implemented an interactive online course “Basics of the Company’s Anti-Corruption Policy and Anti-Corruption Practices for Employees”.
Anti-Corruption
NOVATEK strictly abides by the anti-corruption laws of Russia and other countries in which it operates. The Group is guided by uniform regulatory requirements formanaging anti-corruption efforts, imposing and cancelling a trade secret regime, and protecting insider information. The Company’s Anti-Corruption Policy sets out the key principles that underpin its efforts to counter and prevent corruption.
Prevention of Conflicts of Interest
NOVATEK places a special emphasis on preventing conflicts of interests to maximize its performance and protect shareholder interests. For effective conflict of interest risk management, certain employees in key decision-making capacities are required to disclose conflicts of interest (or their absence) by filling in respective declarations.
Should their personal and corporate interests become incompatible, NOVATEK managers and employees are obliged to report such a conflict immediately. They are also expected to refrain from any forms of competition with the Company in business and investment projects.
Supply Chain
To exclude conduct risks from its relations with third parties, the Company holds tenders to select counterparties and has a well established internal control and audit system. The Company adopted the Supplier Code of Conduct, which contains recommendations and principles related to business ethics and human rights that NOVATEK expects its suppliers to follow.
