We materialised our commitment to strengthening the EPIF’s sustainability performance by identifying and establishing key policies aligning the existing local principles with a common and comprehensive set of unified principles and detailed guidelines for our daily business activities. While many of our internal policies were implemented in previous years, we also created several new sustainability-related policies which were approved by the Board of Directors in March 2020 and reflect our consciousness of immense responsibility for enhancing energy security and sustainability in terms of the environmental, social and governance issues. These policies are applicable to all our subsidiaries and are currently being implemented on the local level.
ESG Master Policy
This document sets out a comprehensive policy framework and basic guidelines for the EPIF Group as well as defining the core principles for sustainability related policies within the EPIF Group and its subsidiaries. Its structure embraces the most material topics related to the environmental impact, social welfare and sustainable governance practices. Specific policies decribed below act as add-ins to this Master policy.
Code of Conduct
This document defines our standards of behaviour, managed as a practical value for our day-to-day business and making all employees personally responsible for the performance and reputation of the Group, ensuring a good relationship with all our stakeholders. We maintain consistently high standards in ethics throughout our operations and supply chain and do not tolerate corruption or any sort of inappropriate behaviour at any level. These commitments are already upheld by our subsidiaries on their own, in respective documents in their local languages. The EPIF’s ESG Master Policy and Code of Conduct were designed to bring them all together and present the general ideas in English and in one place.
This Policy defines our commitments in regard to behaviour that has a direct or indirect impact on the environment. The Policy describes basic principles we follow in terms of the Climate change and carbon footprint reduction, Protection of biodiversity, EMS, Environmental impacts of the product portfolio, Customer efficiency, Regulatory compliance, Renewable and clean energy promotion, Resource and energy efficiency, Waste management and End cycle management.
This Policy defines our commitments in regard to the behaviour that has a direct or indirect impact on the safety and efficiency. The Policy concerns the basic principles we follow in matters of the Access to basic services, Health and safety management, Environmentally safe operation of facilities, Social impacts of our products, Innovation and modernisation, Emergency management, Stakeholder engagement and Responsible marketing.
This Policy is focused especially on the monitoring of our supply chain and strongly encouraging that our suppliers are compliant with local regulations and with our internal policies related to human rights, employees, and environmental matters.
Tax Governance Policy
This Policy ensures compliance with all applicable tax laws and regulations within the framework of fulfilling the corporate interest and supporting a long-term business strategy that avoids tax risks and inefficiencies in the implementation of business decisions. To address the risk of tax non-compliance, as well as other identified tax risks, material transactions are assessed by approved tax experts. The purpose of the policy is to ensure compliance with tax rules in various countries and territories in which the EPIF Group operates, prevention and reduction of significant tax risks and strengthening of the relationships with tax authorities.
EPIF and its subsidiaries always act in accordance with the current local legislation and the company’s appropriate corporate policies and cooperate with local regulators. Going beyond mere compliance, we have our own corporate and local policies in place aiming to ensure the excellence of our responsible operations.
Anti-corruption and anti-bribery policy
Anti-money laundering policy
Anti-trust law policy
Know your customer („KYC“) procedures
These policies contain the following principles and guidelines:
- Receipt or payment of bribes including facilitation payments is strictly prohibited
- Acceptance of gifts and donations including charitable donations is regulated
- KYC procedures are required to be undertaken for business partners
- The so called four-eyes principle is applicable for business transactions, and cash payments above a predefined cash limit
- EPIF or its employees do not establish or maintain business relations with persons, entities or countries that are subject to economic or financial sanctions, trade embargoes or other restrictive measures imposed by the European Union, the United Nations, the United States of America, or the United Kingdom
- All employees and directors are obliged to observe anti-trust laws and are aware of serious consequences that any infringement of anti-trust laws may have.