At BWSC we believe that the values of trustworthiness, credibility and integrity are key to our culture and the way we do business. We believe these values should always be at the heart of how we behave, interact and conduct business. Below we describe our compliance efforts related to business integrity while Corporate Governance, including our governance structure, is dealt with in our annual report under “Our leadership”.
BWSC operates in many parts of the world, including places where views on business ethics and business practices may differ from our Code of Conduct. To mitigate the risks and ensure absolute compliance with our Code of Conduct, including zero tolerance toward bribery and corruption, we are committed to maintain a best-practice compliance programme for a business of our size, nature and risk profile. Standard procedures include due diligence procedures, training, monitoring, and reporting via our Whistleblower Line.
The Compliance Programme
Business Ethics and Compliance is a key function within BWSC. The Compliance Programme aims to integrate the principles of Anti-Bribery, Fraud & Corruption, Sanctions and Export Control, Ethical Behaviour and Social Responsibility, Fair Market Conduct, Protection of Data and Financial Accountability throughout our organisation as outlined in our Business Code of Conduct.
The Compliance Department regularly monitors each of the above principles with our various stakeholders, to ensure BWSC remains committed to adherence with our Business Code of Conduct. This is achieved through continuous monitoring of regulations, yearly risk assessments, yearly ethics surveys, through our due diligence programme and through the monitoring of our Whistleblower Line.
BWSC seeks to maintain business ethics through our various policies and procedures, which apply globally throughout our business and to our business associates. BWSC has established a thorough due diligence procedure to assess both our business associates and our potential projects prior to engagement. Business Associates are subsequently monitored to ensure commitment to the principles outlines in our Code of Conduct for Business Associates. Please visit our Code of Conduct for Business Associates for further details.
BWSC reports on compliance KPIs through our annual reports. This outlines our governance objectives including maintenance for best practice for our compliance programme, promotion of BWSC values, following up on misconduct and ensuring business associates comply with our Code of Conduct. Following this, our performance indicators and their status year to year are commented on. Please visit our Annual Reports for further details.
Code of Conduct
This Business Code of Conduct is about supporting and promoting BWSC’s core values which include being a responsible corporate citizen and acting with integrity in all aspects of our work. This Business Code of Conduct sets out the principles and policies with which we expect everyone working with and for BWSC to comply. In this way, it is both our guide and a tool to assist us in the implementation of BWSC’s values.
Read more about our Business Code of Conduct here.
Code of Conduct for Business Associates
BWSC is committed to conduct its business in compliance with the laws in Denmark and in each of the markets where it operates, and to act with integrity as a responsible corporate citizen in all aspects of our work. We seek to work with others who share our commitments to business integrity and compliance. Therefore, we expect our Business Associates to establish processes to ensure compliance with the principles set out in this Code of Conduct for Business Associates.
Read more about our Code of Conduct for Business Associates here.
Transparency and Integrity
For BWSC, business integrity includes compliance with laws and regulations regarding anti-corruption, bribery and extortion.
Our business integrity management adheres to the UN Global Compact’s ten principles, and we are committed to following OECD’s Guidelines for Multinational Enterprises as a standard for our business practices.
While BWSC has its headquarters in Denmark, which is one of the world’s least corrupt countries, according to the Corruption Perceptions Index, we also operate in certain high-risk jurisdictions that have different legal and cultural frameworks.
BWSC does not tolerate unlawful behaviour and has a number of procedures in place to help combat the risk of corruption and bribery among stakeholders and when choosing our suppliers, subcontractors and external experts. We strive to work with clients and suppliers to understand the risks and mitigate them within parameters of local law and international standards.
BWSC also has a Whistleblower system in place via an external provider which enables all BWSC employees to anonymously report misconduct, fraud or other criminal activities.
BWSC publishes our annual Modern Slavery Acts Statements in line with the UK Modern Slavery Act (2015) and the Australia Modern Slavery Act (2018).
The purpose of the statement is to set out what BWSC as an organisation has done to prevent modern slavery in its own business and supply chain. A definition of “modern slavery” can be found in Annex A (page 17) of the UK Government’s Guidance for Transparency in the Supply Chain issued on.
Read the full practical guide here.
BWSC fully supports the aims of the Act and is committed to tackling modern slavery and human trafficking to the extent it can.
Read more about our commitment to the UK Modern Slavery Act here.