Sustainability and Governance

Thanks to its Governance and to its system of rules, Enel behaves according to Sustainable values and principles, pursuing human rights’ defense, environment, work and quality of safety, stakeholder’s interests, and the fight against corruption and illegal behaviors.

Enel’s Corporate Governance system reflects the highest standards of transparency and fairness in company management. This system of Corporate Governance not only conforms to the provisions of the law and the

CONSOB regulations, but is also fully aligned with both international practices and the recommendations of the Self-regulation Code of listed companies, which it adopted in 2000. The current version is available online here.

Enel’s Corporate Governance system is meant to ensure:

• The creation of value for shareholders;
• quality service for customers;
• the control of corporate risk;
• transparency in the market;
• the reconciliation of interests of all shareholders, with particular regard to the small ones;
• awareness of the social importance of the activities in which Enel is engaged and, in carrying them out, the consequent necessity of appropriately considering all the interests involved.

And it is structured like this

• Shareholder’s meeting approves the financial statements, elects the Board of Directors, the Board of Statutory Auditors, the external auditors.
  
• The Board of Directors plays an essential role in the corporate organization and is responsible for the strategic and organizational guidelines, as well as ensuring that there are the necessary controls for monitoring the performance of the Company and the Group.
  
• The External auditors  is in charge of supervising the Annual Report with transparency and according to regulation.
  
• The Internal Control Committee monitors the appropriateness of the different corporate processes in terms of
  effectiveness, efficiency, and cost-effectiveness and ensures the reliability and fairness of the account books and the safeguard of corporate assets, as well as compliance with internal and external regulations and corporate directives and guidelines aimed at ensuring sound and efficient management. Besides, it has the task of carrying out preliminary investigations to assist the Board of Directors in the latter’s assessments and decisions regarding the Internal Control System, the approval of financial statements and the half-year financial report, and the relations between the Company and the external auditors.
  
• The Compensation Committee has advisory and proactive duties and is entrusted with dealing with sensitive issues involving potential conflicts of interest. It  consists of at least three non-executive Directors, a majority of whom must be independent.

The Group’s Code of Ethics derives from awareness of social and environmental impacts of the Group’s activities, together with consideration of the importance of a cooperative approach with stakeholders for the Group’s reputation – in both internal and external relations.The Code expresses the Group’s ethical commitments and responsibilities in the conduct of its business, regulating and harmonizing corporate behavior according to standards based on the utmost transparency and fairness towards all stakeholders.