Since 2005, Terna has been the principal independent operator in the energy transmission market.
On December 21, 2006 Terna S.p.A’s Board of Directors adopted a new Code of Ethics that replaced the previous one, in effect since May 2002, drafted specifically for Terna’s new structure.
The Code identifies the company’s specific stakeholders and outlines the ethics regarding the peculiar problems arising from carrying out the electricity transmission business. Special attention was devoted to the commitment for operating in full respect of the environment and in harmony with the territory and its authorities.
With regard to internal issues, special attention was placed on the conflict of interests. The Group code also applies to Terna’s subsidiaries both in Italy and abroad. In view of the company’s further development in countries characterized by non-homogeneous national legislation, Terna has chosen to set respect to the principles of the UN Global Compact as its minimum standard and to request its subsidiaries to be always inspired by the highest national standards.
Code of Ethics (December 21, 2006)
Ethical Committee
In 2009 Terna established its Ethical Committee.
The Ethical Committee was set up for creating a specific communication channel for internal and external stakeholders regarding the issues included in the Code of Ethics.
The Ethical Committee is a body formed by three members, appointed by the CEO.
The members are in office for a limited period of time and must:
- respond to requests for clarifications on the Code of Ethics;
- receive and examine violation reports;
- decide whether or not to begin proceedings for verifying the violation report;
- provide a response to the persons submitting the reports, regarding such decision.
Terna’s stakeholders can report any violation or suspect of a violation to the Code of Ethics to the Audit Department or to Terna S.p.A.’s Ethical Committee
Audit Department
The reports can be submitted by mail to:
Terna Spa, Funzione Audit
Codice Etico
Viale Egidio Galbani, 70
00156 Roma
Ethical Committee
The reports can also be submitted by email to: comitato.etico@terna.it
It is guaranteed that the identity of the person submitting the report will remain confidential, with the exception of the provisions envisaged by the law, in order to protect those persons from any form of retaliation intended as an action that can create any type of suspicion of being a discriminatory or damaging act.
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