Experts speak: Anti-Corruption, Compliance, and Ethics for Energy Sector

The energy industry is growing and more and more international corporations are operating in newer markets, increasing exposure to compliance and corruption risks. We asked our expert panel at 2nd Anti-corruption, Compliance and Ethics in Energy sector 2022 conference about the biggest compliance challenges, establishing a compliance culture and how to mitigate risks.

Rafael Fauquine Bernal – Head of Legal Corporate & Compliance, Endesa S.A., Spain

Rafael Fauquié Bernal, EndesaWhat do you see as the biggest challenges to compliance in the energy industry ?

Year 2022 will bring numerous challenges in Compliance in Energy Sector. If I have to focus, I can summarize such challenges in three big areas.

First, 2022 will be a geopolitical instable year with tension worldwide: Russia-Ukrania-EU, China-Taiwan-US, Latin America and the growing “left side populistic” governments… Such tension and possible crisis will translate into an increase of number and variety of international sanctions which will need a close attention by Compliance experts, particularly in gas & oil sectors.

Second, in 2022 we will see the implementation of the new 37301 (Compliance) and 37002 (Whisleblower) ISO norms, which will have huge impact in Compliance units in Energy Companies.

Finally, we will see an expansion on the notion of “Compliance”, which will include and not only traditional ABC, sanctions, or ethics, but other areas such as labor, data protection or anti-trust.  Such “expansion” will increase responsibility and work for Compliance units in Energy Companies.”

Erik Hauptvogel – Ethics and Compliance Officer, Centrica Trading, Denmark

Erik Hauptvogel, CentricaWhat do you see as the biggest challenges to compliance in the energy industry?

“The global pandemic definitely put a test on your compliance integrity programs. We needed to find new ways in this hybrid work to keep the level of engagement high and equally be adaptive to unseen volatility and credit risk. I am looking forward to 2022, because this is the new normal for now.”

Olekisy Povolotskiy – Chief of Governance and Compliance Officer, DTEK, Ukraine

Oleksiy Povolotskiy, dtekWhat do you see as the biggest challenges to compliance in the energy industry ?

DTEK Group is a national investor,a private Ukrainian business trusted by international partners.DTEK Group is guided by anti-corruption management,business ethics and compliance, and following the best corporategovernance and compliance practices in its activities. Such a responsible approach to work ensures business transparency and demonstrates that DTEK Group acts in the interests of Ukraine. Due to the COVID-19 pandemic, businesses were forced to change their operating models. Energy ensures the sustainable operation of critical medical and social services, so the changes at DTEK could not jeopardised work sustainability. In 2020-2021, when some employees were shifted to remote work, risk and compliance plans were stress-tested. DTEK always acts in the interests of Ukraine. So, the DTEK Compliance division took quick and effective steps to enhance its oversight to maintain an effective compliance control system.

Harri Spolander – VP, Group Compliance Offcicer, Fortum, Finland 

Harri Spolander, fortumWhat do you see as the biggest challenges to compliance in the energy industry ?

“Challenges in compliance work in an energy company like in any international organizations these days are the increased stakeholder expectations. The compliance organization have scarce resources and we need to support businesses in a constructive way to give them the support they need. The role of the compliance is to say how, not to say no”

Why is a Speakup culture important for compliance?

“Speakup culture is very important in any corporation, especially in an international setup. It is important that people can communicate and can raise their concerns in any market in any country without being afraid of being retaliated. Speakup process is also an elementary part of open leadership in today’s world, and in that way, it’s the basis for the compliance activities and the robust framework in any organization.”

Join 2nd Anti-corruption, Compliance and Ethics in Energy sector 2022 to network with decision-makers of legal, compliance, ethics, audit departments from leading Energy Utilities, Oil & Gas Operators, Energy Contractors, Nuclear, Sub-contractors & EPC service providers to benchmark best-practices.

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