Combating corruption

Zero tolerance to corruption is essential part of SCF Group’s corporate standards, to make sure Sovcomflot’s business is conducted honestly and in good faith, free from corruption, bribery and fraud.

SCF supports and adheres to the highest international Anti-Bribery and Corruption standards. In 2017 the company has joined the Anti-Corruption Charter of the Russian Business.

As the part of Sovcomflot’s efforts to prevent corruption, the following steps have been adopted:

  • The confidential and anonymous Open Reporting tool has been established on the corporate website. Sovcomflot commits that all reports made through the confidential Open Reporting tool will be treated in confidence and fully investigated.
  • Anti-Bribery and Corruption Policy has been adopted at SCF Group which strictly prohibits SCF employees and other persons acting on behalf of the company or in its interests, whether directly or indirectly, personally or through any intermediary, from engaging in any corrupt practices regardless of business practices in any country. All SCF employees, regardless of their position, duration of their employment, status, or other conditions, should unconditionally and strictly observe anti-corruption requirements of the applicable legislation and internal policies. Among other things, Anti-Bribery and Corruption Policy establishes certain requirements for interacting with counterparties, accepting and giving gifts, hospitality expenses, charity and sponsorship activities.
  • Code of Corporate Conduct has been adopted at SCF Group in 2019. The Code of Conduct comprises a set of principles and core values which support ethical behaviour and decision making across SCF Group. All Sovcomflot employees worldwide must adhere to this Code and engage with any third parties who work on behalf of Sovcomflot to ensure that they also act in accordance with this Code in order to maintain SCF’s reputation. The goal of the Code of Corporate Conduct is to enable employees to act responsibly and accountably in their daily work and to exercise diligence in their judgment and decision making.
  • Anti-Corruption Action Plan for 2021-2024 has been adopted at SCF Group. In accordance with this plan, the company is implementing a set of measures aimed at preventing corruption-related violations, preventing and resolving conflicts of interest, including in procurement of goods, works, or services.
  • The Gift Policy has been adopted at Sovcomflot which sets up the procedures that each employees should follow. It contains principles of receiving gifts in connection with protocol events, business trips, and other official events, that are related to their corporate positions and performance of official duties.

Corruption risks and risks of unfair practices and fraud are assessed and managed in accordance with the regulatory requirements and corporate policies, as well as principles and rules determined by SCF Board of Directors.