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Ethics

For appropriate disclosure, transparency and impartiality, the company approved, in 2009, its Code of Ethics, to be adopted by all company’s employees and whose wording has been updated in 2014.

In 2020, the Board of Directors also approved the creation of an Ethics Committee, whose main objective is to ensure the Code of Ethics compliance within the Company.

This Committee shall be composed of three members that must be the presidents of the Audit, Control and Related-Party Transactions Committee and of the Nominations and Remuneration Committee and the Compliance Officer. Their office as Ethics Committee members shall continue for as long as they are Presidents of their other Committees or Compliance officer, and its Chairman must necessarily be an independent Director. The Board may, at any time, remove the members of the Ethics Committee.

The main functions of the Ethics Committee are to receive, register, process and report to the Board of Directors information received from the employees regarding violations of the Code, in matters of legislation, ethics, conduct in the work environment, human rights and equal opportunities, integrity, relations with customers and suppliers, the environment and sustainability.

These functions include the following:

  • Proposing corporate ethics instruments, policies, goals and targets
  • Monitoring application of the Code of Ethics, laying down guidelines for its regulation and overseeing its proper application by the Company and its subsidiaries
  • Analyzing reported violations of the Code of Ethics, deciding on their relevance and admissibility
  • Deciding if there is any need for a more in-depth investigation to ascertain the implications and persons involved. The Ethics Committee may, for this purpose, use internal auditors or hire external auditors or other resources to assist in the investigation
  • Appointing the Ethics Ombudsmen
  • Any other functions assigned to it in the Articles of Association or by the Board of Directors

The EDPR Code of Ethics is the public expression of "our energy!"

It is our reference document, which conveys the way we work and the way we like to be viewed by our stakeholders - employees, shareholders, customers, suppliers and the community.

In 2020, we reviewed the Code of Ethics, the first edition of which dates back to 2009 , with a view to making the document more current, allowing for a more direct address of the ethical issues that are very relevant today for EDPR, and for its insertion in society in general, in such complex and demanding times.

The Code of Ethics must always be present in our daily lives, constituting a firm reference for our actions as people and as professionals and help us to act correctly. Our Code of Ethics applies, regardless of position, geographical location or functional hierarchy, to all EDPR employees and also to EDPR's business partners, representatives and suppliers who under any circumstances are qualified to act on behalf of EDPR.

Ethics EDPR

The Ombudsperson

The Ombudsperson receives complaints of an ethical nature sent to EDPR and investigates and documents the procedure for each of them, with guaranteed confidentiality in relation to the identity of the claimant.

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Anti-corruption Policy

To adopt the best practices followed by EDP Group, EDP Renováveis (EDPR) has developed an Anti-Corruption Policy, mandatory for all employees and “transaction partners”.

This Policy regulates essentially the relationship of employees and transaction partners with third parties, both public agencies and private entities, and establishes a number of rules concerning the provision and acceptance of gifts, meals, entertainment and traveling, as well as the execution of political contributions, donations and sponsorships.

The main objective of this policy is to avoid influencing the will of any employees or external entity to obtain any benefit or advantage for the company, by using unethical practices.

In addition, EDPR has a whistleblower channel (complianceofficer@edpr.com) for reporting corruption-related incidents as well as any other non-compliance that may involve the commission of a criminal offense.

Whistle Blowing

EDPR has always carried out its activity by consistently implementing measures to ensure the good governance of its companies, including the prevention of incorrect practices, particularly in the areas of accounting and finance.

We provide the Group employees with a channel audit@edpr.com enabling them to report directly and confidentially to the Audit and Control Committee any practice presumed illicit or any alleged accounting and/or financial irregularity in their company, in compliance with the provisions of CMVM Regulation nº4/2013.

With this channel for reporting irregular accounting and financial practices, EDPR aims to:

  • Guarantee conditions that allow employees to freely report any concerns they may have in these areas to the Audit and Control Committee

  • Facilitate the early detection of irregular situations which, if practiced, might cause serious damage to the EDPR Group, its employees, customers and shareholders

Contact with the Company’s Audit and Control Committee is only possible by email and post, and access to information received is restricted.

Any complaints that could implicate irregular accounting of financial practices must be submitted as soon as possible to the Audit Committee according to the procedures and specific regulations of the EDPR Whistleblower Channel. All these complaints are kept strictly confidential and the whistle-blower will remain anonymous, provided that this does not prevent the investigation of the complaint. The employee will be assured that the Company will not take any retaliatory or disciplinary action as a result of exercising his/her right to blow the whistle on irregularities, provide information or assist in an investigation.

The Secretary of the Audit and Control Committee receives all the communications and presents a quarterly report to the members of the Committee.

EDP ranked as one of the world most ethical for the tenth year in a row

Business management and ethics practices have earned EDP yet another award from the Ethisphere Institute for the tenth year in a row. The Group is listed with 134 other companies, including just nine utilities.

This award acknowledges the Group's commitment to the best management and ethics practices, as well as the way it has implemented them in every region and in all its business areas where it operates including EDP Renewables. This international award reflects the continued strengthening of this ethical culture and all EDP Group's trust relationship with its stakeholders.