Compliance

Siemens Energy shows zero tolerance toward corruption, violations of the principles of fair competition and other breaches of the law – and where these do occur, we take swift action. But compliance means much more than just adhering to laws and to the regulations described in the Siemens Energy Business Conduct Guidelines. Compliance forms the basis for all our decisions and activities, and it is the key to integrity when conducting business. Our premise is this: Only clean business is Siemens Energy business. This applies worldwide and at all levels of the organization. In addition to combating corruption and competition and export-control violations, the Compliance Department also protects our company against fraud and money laundering as well as safeguards personal data and human rights. 

Siemens Energy has required its suppliers and business partners with an intermediary function to adhere to a code of conduct. This code is modeled after the 10 principles of the United Nations Global Compact. It covers legal compliance in general and our anticorruption policies in particular, including provisions against anticompetitive practices and conflicts of interest. Using audits, we systematically identify potential risks in our supply chain and collaborate with our business partners and to ensure they comply with the Siemens Energy Code of Conduct.

Integrating compliance into our business processes has played a crucial role in creating an effective compliance system, and a key aspect of this has been educating our customers about our compliance principles.

Reliable reporting channels for internal and external stakeholders and the protection of internal whistle-blowers from sanctions help ensure possible misconduct is reported, thoroughly investigated and clarified. At Siemens Energy, we provide different reporting channels to internal and external whistle-blowers to inform us about possible compliance violations. The “Speak Up” compliance reporting system provides a secure channel for reporting this information 24 hours a day: online or by telephone, anonymously if desired, and in several languages.

Respect for human rights and the environment are core values at Siemens Energy. We take these responsibilities seriously and we expect the same of our business partners and suppliers. In our operations, risk analysis is central to our strategy of identifying and evaluating human rights and environmental risks in our company and in our supply chain. If necessary, measures to prevent, minimize, and avoid risks are implemented and, where warranted, remedial action is undertaken. To this end, Siemens Energy offers internal and external stakeholders convenient and protected reporting channels to raise concerns, including human rights and environmental concerns, as well as those related to the German Supply Chain Due Diligence Act.