Governance and prevention of the grey economy and corruption
Compliance with good corporate governance. Preventing corruption and the grey economy.
YIT commits to complying with corporate governance and responsible business principles, for instance, by following responsible tax practices, not accepting corruption and investing in risk management. YIT’s operations are ethical and transparent. YIT’s responsibility requirements apply to the entire supply chain, and the compliance with the responsibility requirements is being monitored.
Our approach
YIT is committed to good corporate governance through compliance with laws and regulations and by implementing best practices. In addition our operations are guided by the YIT Code of Conduct, which sets guidelines for our activities in relation to customers, employees, shareholders, partners, competitors, society and the environment. The Code of Conduct is used in all our operating countries. We have a zero tolerance policy regarding the grey economy and we actively promote the fight against it. Read more about YIT Corporate Governance.
YIT Ethical Channel
YIT’s whistleblower-system, called YIT Ethics Channel, enables our employees, customers, suppliers and other third parties to report possible irregularities to laws, regulation and good business practices.
Read more about reporting a concern here.
The Contractor’s Obligations Act
We take the Finnish Contractor’s Obligations Act into consideration in all our subcontract agreements and it is part of the basic duties of everyone who works in procurement at YIT.
We require that all Finnish, Swedish and Estonian subcontractors, used by our company in Finland, join the Reliable Partner service by Vastuu Group. The service retrieves all required information from different registers, and keeps the information up to date. The service allows us to confirm that our contractual partners have fulfilled their statutory obligations, such as taxes, pension contributions and obligations stipulated by collective labour agreements. We don’t do business with Finnish, Swedish or Estonian companies that have not joined this service. The requirement to join the Reliable Partner Service is included in the company’s tender requests and subcontract agreements. So far, only Finnish, Swedish and Estonian companies can join the service. We require that subcontractors from other countries supply the corresponding information with a registration document or similar certificate in accordance with the law of the country of establishment of the company or in another generally accepted manner (1233/2006 Act on the Contractor’s Obligations and Liability when Work is Contracted Out).
