Ethics is at the core of the IBERDROLA Group's strategy, its business model and its decision-making chain. The Code of Ethics [PDF] is a key element for the integrity of our businesses and represents who we are and how we operate as a company. All IBERDROLA Group professionals, irrespective of their position in the organization and the place where they work, are expected to be acquainted with the vision and values embodied in the Code, share them and use them as guidelines in their day-to-day work.
In an increasingly global, complex and changing environment, the IBERDROLA Group believes that it is essential to hold firmly to the principles and values set out in the Code of Ethics, developing and maintaining a corporate culture based on integrity and transparency.
Accordingly, at the end of 2012 the Board of Directors of IBERDROLA, S.A. set up the IBERDROLA Group's Compliance Unit with the aim of ensuring the application of the Code of Ethics [PDF] and compliance with applicable regulations, promoting a preventive culture based on the principle of “zero tolerance” with regard to illicit acts and fraud.
The Group ethics and compliance system is designed according to international best practices, and represents the global methodological framework under which different compliance programs and control mechanisms are developed and promoted across the organization (the Compliance System).
The Compliance System represents the IBERDROLA Group's commitment to its professionals, customers, suppliers, competitors, shareholders and other stakeholders to conduct its activities in accordance with current regulations and the highest ethical standards and values.
This ethical and good governance commitment is conveyed to third parties the Group works through various initiatives, including the Supplier's Code of Ethics [PDF] which lays down the IBERDROLA Group's firm commitment not to accept any corrupt, fraudulent or illegal practices or actions contrary to the Company's policies and principles in the area of corporate social responsibility.
IBERDROLA is the only Spanish company that received this recognition in 2015 and one of the 132 companies awarded a prize this year worldwide.