Compliance function

Neste is committed to high ethical standards and conducts its business and operates in compliance with applicable laws, regulations and generally accepted good corporate governance practice. Neste’s Code of Conduct sets the framework for Neste’s global business operations and establishes the ethical practices to guide Neste employees in their day-to-day business activities and decisions. Neste also requires suppliers and other business partners to comply with applicable laws and expects them to follow equivalent ethical business standards as stated in the Code of Conduct and further described in our Supplier Code of Conduct. More information about Neste’s Code of Conduct is in Neste’s Sustainability Report and on Neste’s external web pages.

The purpose of Neste’s Compliance function is to develop, establish, facilitate and oversee compliance procedures and programs aimed at ensuring that Neste’s global organizations have effective systems and processes in place for identifying, preventing, detecting and correcting non-compliance with applicable laws, regulations and Neste’s internal rules. The function supports Neste’s management in their responsibility for overall compliance risk management, as well as Neste’s organizational unit management in their responsibilities to identify and manage compliance risks related to their operations. The compliance function works in close collaboration with Neste’s business units, functions and other internal assurance organizations, in particular the Risk Management, Internal Control and Internal Audit functions. The compliance function is headed by the Chief Compliance Officer (CCO), who reports to Neste’s General Counsel. The CCO reports regularly on compliance activities to the Neste Leadership Team and the Board of Directors’ Audit Committee. Neste also has an Ethics and Compliance Committee, which oversees and steers the management of the ethics and compliance program in Neste. 

Reports on suspected misconduct received via the Company’s externally operated reporting system and other reporting channels are investigated in accordance with applicable laws and Neste’s internal Misconduct Investigation Standard. More information about the Misconduct Investigation Standard and reported suspected incidents of misconduct can be found in the NFI and Sustainability Report.

In addition to other reporting channels, Neste has an externally operated misconduct reporting system, Ethics Online, available to all Neste’s internal and external stakeholders, including various actors in its supply chains. Ethics Online serves as a grievance mechanism and enables Neste’s stakeholders to raise concerns related to alleged misconduct in Neste’s practices. Neste’s Investigation Group is responsible for evaluating and investigating such reported cases. Neste has a non-retaliation policy for concerns reported in good faith. Neste’s main principles and policy followed in internal misconduct investigations is described in the Company’s internal Misconduct Investigation Standard. Any irregularities or misconduct are reported regularly to the Board of Directors’ Audit Committee.