In energy trading groups such as the Energi Danmark Group, the primary task is to ensure optimal management of customers’ risks within energy purchases. We help energy consumers and energy producers to exercise active and financially advantageous trading strategies rather than being passive players in the energy market. In this context, we focus on responsible trade with suppliers and partners with emphasis on forced labor, child labor, anti-corruption, responsible procurement, and pollution from the production of power.
Trade with suppliers depends upon mutual trust and respect for good business ethics. The great majority of our purchases are made through energy exchanges in the financial energy market and thus without any direct trade contracts with suppliers. The energy exchange is highly regulated, however, and there are strict requirements for registering with the exchanges. Energi Danmark Group has developed a Supplier Code of Conduct with a specific focus on human rights, labour rights and anti-corruption, as well as the climate and environment. The guidelines set down in our Code of Conduct are based on the UN Global Compact’s ten principles for business.
In 2020, we started our work to map all suppliers to ensure that our largest and most critical suppliers are the first to sign our Supplier Code of Conduct. We do not accept any kind of child labour or forced labour, including slave labour or human trafficking. At the Energi Danmark Group, we have a Human Rights Policy covering forced labour and child labour. Our Supplier Code of Conduct does also make demands on our suppliers regarding child labour or forced labour.
The Energi Danmark Group wishes to work actively to help fight all forms of corruption. Corruption contradicts the group’s core values and is therefore unacceptable. We expect all employees to use their common sense with respect to the Group’s and society’s interests and that all employees act in accordance with the law, regulations and standards. Likewise, we also wish to work with our suppliers to fight corruption.
We have developed an anti-corruption policy and committed to incorporating the anti-corruption policy into all relevant business areas. In 2020 this policy was implemented in all business areas. We have established a whistleblower scheme so that employees who experience any unacceptable or illegal conduct in the Group can anonymously report this directly to the Group’s auditor, who will impartially investigate the matter in more detail. The whistleblower scheme is accessible via the Intranet with our whistleblower policy and whistleblower investigation procedure, which explains the steps that will be taken when a report is submitted. However, there have been no incidents in 2020.
The Energi Danmark Group has a policy in place concerning the prevention of market abuse. The policy is compliant with the current EU legislation on insider trading, illegal disclosure of insider information and market manipulation, ‘MAR’, and on integrity and transparency in wholesale energy markets, ‘REMIT’. During 2020 the Energi Danmark Group strengthened its compliance setup even further by acquiring an energy trade monitoring software system. The system enables Energi Danmark at an early stage to spot and handle
trades which potentially could give rise to questions in relation to ‘REMIT’.