Integrity and transparency are important values for us, and are recognized among fundamental principles in our Code of Ethics. We focus on three major areas: fight against corruption, prevention of frauds and dissemination of the culture of legality and good management. Our Organizational model has the goal to ensure correctness and transparency in carrying out company business.
Our Group is in fact committed to carry out all business in compliance with current legislation as well as continuously improving processes. This commitment is recognized by the many certifications of our management system and summed up in our Group Integrated Policy.
We underpinned our commitment to integrity in 2016 by sisning a new agreement with the Ministry of Finance entitled “Security in the network”.
Terna has safeguards and systems in place to ensure corruption is prevented at all levels. Since November 2005 (when Terna S.p.A. became concession-holder for the transmission and dispatching of electricity in Italy) there has been no criminal convictions of Group’s employees for corruption offenses. Since 2014, Terna is a part of Transparency International, the largest worldwide organization concerned with preventing and combatting corruption.
In January 2017, Terna became the first Italian company to obtain the ISO 37001 certification for its Anti-Bribery Management System, which applies to the Parent Group, Terna Rete Italia and Terna Plus (for all activities carried out in Italy).
Terna is committed to security in order to prevent and combat corruption, undeclared work, irregularities, and the risk of criminal infiltration in its economic structure and in contracts and sub-contracts.
We have developed a methodological model based on the systematic analysis of preconditions that may generate fraudulent events in order to identify potential vulnerabilities in our audit system. This model helps us identify “critical areas”, allowing us to intercept and prevent potential organizational and operational problems.
To prevent fraud, we monitor the degree of exposure to fraud risks and risk factors, gather and analyse notifications and indications of potential crimes, examine processes and adopt suitable governance and control measures. This objective is achieved through targeted analyses, thanks to such tools as databases and specialized software, aggregating thousands of data on suppliers, contractors, projects and company departments.
We have developed a further control method taking into account the stakeholders that Terna works with, in order to contain risks associated with operations with third parties, and at monitoring “critical” customers, to minimize losses from uncollectable receivables.
Preventing other types of risk is also important to us, and we have strict procedures in place on managing risks. In line with our culture of transparency and legality, in November 2015 we launched the web space Our sites: open & transparent.
Employee training on ethical conduct
To prevent crime at all levels of the company, all new employees attend training courses aimed to increase awareness and dissemination of the rules on established conduct and procedures. These courses also train and inform employees about the areas at risk of criminal activity and about potential crime in relation to the work carried out.