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Ethical business

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Our commitment to upholding the highest principles of business ethics and integrity defines us as a company and distinguishes us from many of our competitors. Throughout our more than 150-year history, we have nurtured a culture of high integrity where every employee is held accountable and responsible for upholding our ethical values. 

We have a Code of Conduct that is applicable to all our employees, directors and management, as well as a Code of Ethics applicable to the President and CEO, Chief Financial Officer and Corporate Controller. We apply our Code of Conduct, not just to our own employees, but also in our daily activities and business dealings with all our external stakeholders. Leadership involvement and oversight on ethics and compliance are provided by the Board of Directors via the Audit Committee. Compliance management is further supported by both global and regional compliance committees. 

We have five simple principles which run through everything we do and define how our employees are expected to behave:

  • Obey laws and follow policies
  • Be fair and honest
  • Treat each other with respect
  • Declare conflicts of interest and avoid appearance of impropriety
  • Report any concerns promptly

In 2017, we executed ambitious goals in a year of significant change by building on the theme of Compliance Reimagined. Key initiatives supporting these goals were implemented throughout the year, including: Strengthening leadership accountability by finalizing the compliance governance model, and establishing business-owned Compliance Operating
Reviews as the cornerstone of the global compliance program, continuing deployment of the Nokia Compliance Controls Framework (CCF) and addressing identified gaps to mitigate compliance risks, establishing a specialized Center of Excellence (CoE) to address anti-corruption risks, and building a mindset of compliance as a strategic business partner. We also enhanced key program elements, including: right-sizing the risk assessment program for the new company, re-energizing the compliance program owner network of subject matter experts, and creating a robust and comprehensive communications calendar.

We were honored by the Ethisphere Institute as one of 2018’s World’s Most Ethical Companies owing to our past achievements, present strong program, and bold vision for the future. The award is given annually by Ethisphere, the leading organization for corporate ethics and compliance, to a small and select group of companies, following a rigorous evaluation process into the company’s policies, processes, social responsibility, governance, and compliance culture.

For more details on our ethics and compliance programs, look at pages 77–89 of the People & Planet Report 2017.