Anti-Corruption Procedures

In the past years Saipem has actively taken part in the fight against corruption by expressly prohibiting in its Code of Ethics "practices of corruption, unlawful favours, collusive behaviours, direct or indirect solicitations for personal benefits and career gains for oneself or for others." All Saipem personnel are required to comply with the Code of Ethics, which must be expressly accepted by all suppliers during their qualification process.
Saipem has committed to respect the principles of the United Nations Convention Against Corruption (UNCAC), the principles of the OECD Convention on Combating Bribery of Foreign Officials in International Business Transactions and the Business Principles for Countering Bribery issued by Transparency International.
In 2010 Saipem’s commitment was also further strengthened by two initiatives:

  • the issuance, after due approval by Saipem’s Board of Directors, of the Anti-Corruption Compliance Guidelines and first two Anti-Corruption Ancillary Procedures, relating respectively to joint venture agreements and intermediary agreements followed by other Ancillary Procedures in specific risk areas;
  • the creation, within the Saipem Legal Affairs Department, of a dedicated organizational structure denominated Anti-Corruption Legal Support Unit, in charge of providing the business units of Saipem and of its subsidiaries, both in Italy and abroad, with ad hoc legal advice and support on specific anti-corruption issues, promoting and co-ordinating the anti-corruption training and periodically reviewing and updating the Anti-Corruption Compliance Guidelines. The Anti-Corruption Legal Support Unit also submits an annual report on its monitoring activity to the Compliance Committee of Saipem S.p.A.

Both the Anti-Corruption Compliance Guidelines and the Anti-Corruption Ancillary Procedures have been adopted by all controlled companies of Saipem Group, both in Italy and abroad.

With the aim of improving the framework of the anti-corruption rules and procedures implemented in order to maximise Saipem’s compliance with the Code of Ethics and the national and international laws applicable in Italy and abroad, on 23rd April 2012 the Board of Directors of Saipem S.p.A. has approved the new Management System Guideline “Anticorruption”. Such procedure has immediately effect for Saipem S.p.A. and its subsidiaries, which are also proceeding to approve it by board resolution.

Most relevant changes are the following:

  • reference to the so called “corruption among private parties” following the explicit reference to the UK Bribery Act (when and if applicable), between the most important international reference laws;
  • explicit prohibition of the ”Facilitation Payments”;
  • introduction of a “Register” on which take note of each gift, economic advantage or other utility offered or received by Saipem Personnel;
  • Possibility to perform political contribution, only if obliged by local laws, against an authorization process which includes a Due Diligence over the beneficiary;
  • Express reference to “Suppliers” between the subjects obliged to comply with Saipem ethical standards and pre-qualification requirements that will be defined into the “MSG Procurement”;
  • Widening of the definition of “Covered Business Partners” meaning each person who is probable to have a relevant contact with a Public Official, including consultants (that will be subject to a Due Diligence and to specific anti-bribery clauses, representations and warranties);
  • Duty to report any request from a Public Official or a Private Party of unlawful payments, gift, personal benefits, meals, entertainment expenses, employment and other utilities different from those reasonable and in good faith (previously there was only the duty to report violations, even if only suspected, of anti-corruption laws).

On 30th June, 2015 Saipem S.p.A. has issued the revision of the Management System Guideline “Anti-Corruption”, which represents an improvement in the framework of Saipem Compliance Program and Corporate Governance on anti-corruption.

Saipem requires compliance with the anti-corruption laws by all its intermediaries, its business partners as well as by its “covered business partners",who, in carrying out their activity in the interest of Saipem, could have relevant contacts with public officials.

Saipem personnel have the duty to comply with the anti-corruption rules: to such end, all relevant documents are easily accessible through the Company’s intranet portal.
In such context, a role of primary importance is vested in the managers, who have the duty to promote their teams’ compliance with the MSG Anti-Corruption and Ancillary Procedures. In addition, Internal Audit examines and independently evaluates internal controls to ensure that the provisions of the Anti-Corruption Compliance Guidelines are complied with on the basis of their annual audit programme, as approved by the Board of Directors.
Any suspected or known breach of the anti-corruption laws or MSG Anti-Corruption must immediately be reported in accordance with the provisions set out in the Reports (Including Anonymous One) Received by Saipem and Its Subsidiaries, including the following link

Disciplinary measures may be taken against Saipem personnel found guilty of breaching the anti-corruption laws, who do not take part in the prescribed training programme, who omit to report violations they are aware of or who retaliate against others who report violations.

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