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Code of Ethics


Our Code of Ethics underlines the necessity of respecting the universal ethics principles and their application to the company. The Code of Ethics consciously and explicitly reflects the ten principles of Global Compact, the most prestigious expression of this vision, which Terna has supported since 2009

The Code identifies the company’s stakeholders and outlines the ethical guidelines regarding the specific problems that may arise in conducting the company's business of electricity transmission. Particular attention is paid to operational practices which respect the environment and are in harmony with local communities and their institutions.

With regard to internal issues, special attention was placed on the issue of conflict of interest. The Group code also applies to Terna’s subsidiaries both in Italy and abroad. With a view to future developments of the company in countries characterised by non-uniform national legislations, Terna has chosen to adopt as a minimum standard observance of the principles of the United Nations Global Compact and to require all subsidiaries to base their operation on the highest national standards.

In 2006 Terna’s Board of Directors adopted a new version of the Code of Ethics (Italian version available here), which replaces the previous version in effect since 2002, written specifically for Terna's new corporate structure.

Code of Ethics (December 21, 2006)

Ethics Committee and reports of breaches to the Code of Ethics

In 2009 Terna established its Ethics Committee, created to provide internal and external stakeholders with a new communications channel specifically for matters relating to the Code of Ethics.

The Ethics Committee, renewed in November 2017, is composed of five members, each appointed by the Chief Executive Officer. The members are in office for a limited period of time and are charged with the following duties:

  • responding to requests for clarifications regarding the Code of Ethics;
  • receiving and assessing reports of breaches;
  • deciding whether to open an investigation regarding the report;
  • responding to the whistleblowers regarding this decision.

Terna's stakeholders may report any breach or suspected breach of the Code of Ethics using the Reporting Procedure - Whistleblowing portal. The identity of the whistleblower shall be kept strictly anonymous, unless when prescribed otherwise by law, to safeguard the whistleblower against any form of retaliation, that is to say any action that could give rise even to the mere suspicion of discrimination or penalisation

The training activities include...

Multiannual Training Plan (2016-2018) on the 231 Organizational Model and the Anti-Corruption Guidelines, started at the end of 2016 and ended in February 2018, benefiting from 2,102 employees;

Training for new employees that involved 502 colleagues in 2017 and 1,702 in 2016 (due to the generational turnover started in 2015).

Requests for further information should be sent to