Transparency

Transparency and business ethics belong to the core values which the Nordic Chamber traditionally endorses.

Transparent and ethical conduct has positive effects, for example:

• Improvement of corporate reputation;
• Reduced risks and costs;
• Increased level of employee loyalty and decreased employee fluctuation;
• Protection against illegal and sanctioned conduct;
• Strengthening of competitiveness;
• Assuring and maintaining revenues and profits;
• Strengthened possibilities to acquire and maintain foreign capital;
• Sustainable growth/development;
• Access to new market segments – customers with responsibility towards living and social environment, etc.;
• Increasing attractiveness and trustworthiness of potential employees;
• Paragon for business partners and suppliers.

Based on the internal survey and experience of the Chamber members the Transparency Group specified the basic areas of transparent and ethical business. These areas overlap with the principles of CSR and sustainability as they are generally understood. The survey showed that these principles are more broadly expanded in Nordic companies compared to the usual situation in our region. Rules of business ethics and transparency in Nordic companies are refined into great detail, they are rigorously applied and checked and possible breaches of rules are responsibly resolved.