To maintain uniformly high standards, Hydro sets common requirements in the form of constituting documents and global directives. Constituting documents are approved by Hydro’s Board of Directors or the general meeting of shareholders, while global directives are approved by the President & CEO. Global directives and underlying documents including procedures are valid to Hydro’s operation worldwide and are made available to all employees.

Hydro’s governing documents and global directives help ensure that all employees carry out their activities in an ethical manner, and in accordance with current legislation and Hydro standards.

The Code of Conduct addresses compliance with laws and matters, such as handling of conflicts of interest and a commitment to equal opportunities for all employees. The defined programs contribute to compliance with anti-corruption and basic human rights, and other relevant governance areas. Hydro’s Code of Conduct is a constituting document and applies to all Hydro employees throughout the world, as well as to board members of Hydro and its subsidiaries. For legal entities where Hydro holds less than 100 percent of the voting rights, Hydro’s representatives in the Boards of Directors or in other governing bodies, shall act in compliance with Hydro’s Code of Conduct and endeavor to implement the principles as laid down therein.

As a member of the Executive Leadership Team, the Chief Financial Officer (CFO) is responsible for the Enterprise Risk Management (ERM) function which, through the Head of ERM, develops Hydro’s central risk management framework.

All new board members take part in an onboarding process which includes risk management. A risk management e-learning module has been developed and made available to all employees with access to Hydro’s platform. In addition, more specialized risk management training is provided to specific employee groups  

For more information on corporate governance and risk management, please see Hydro’s annual reports.