The Code of Ethics: our reference point
Our company purpose is embodied in the Code of Ethics, which is a reference point for us and all the people we work with. The Code of Ethics contains the goals we strive for and was adopted by all our subsidiaries in 2007.
What is a Code of Ethics?
A Code of Ethics is one of the instruments of a company’s corporate responsibility. It is instrumental in implementing practices of good conduct, a reference point, and a guide for all those who work at Hera and those who have stakes in its achieving its purpose and mission.
It expresses the commitments and responsibilities Hera employees assume in executing all company activities.
It aims to direct individual behaviour and the management of activities according to the purpose, the mission, the ethical values and operating principles defined to build a positive corporate reputation through unequivocal behaviour and the satisfaction of stakeholder needs.
As per Article 8 "Validity of the Code", a Code of Ethics is valid for three years, after which it must be reviewed and revised if necessary. After the first review in 2010, the second update was carried out in 2013, the third in 2016, the fourth in 2019 and the fifth in 2022.
A fair environmental and digital transition, the personal and professional well-being of the people working at Hera, the care for our most vulnerable customers and the importance of dialogue and listening are also some of the elements that characterise the latest update of the Code, which saw the involvement of all the Hera Group's workers.
Our goal
The goal of our Code of Ethics is to foster virtuous behaviour for the benefit of Hera people, customers, suppliers, investors, communities and the environment and to strengthen our reputation.
As required by the Qualification System, since 2006 we have shared our Code of Ethics with all our suppliers: in fact, the contracts drafted by the Group' companies include termination clauses in the event of failure to comply with its principles.
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Ethics and Sustainability Committee
The Ethics and Sustainability Committee has the task of monitoring the dissemination and implementation of the Code of Ethics and of exercising the functions of supervising the sustainability aspects associated with the exercise of the company's business. In particular: receives reports of violations of the Code and evaluates whether or not a proceeding can be opened, monitors the implementation of sustainability policies, formulates, at the request of the Board of Directors, an opinion on specific sustainability issues, examines the corporate procedures on social and environmental matters, and examines in advance the sustainability report to be submitted to the Board of Directors.
Who is it composed of?
The Committee is made up of 4 members, including at least one independent director of Hera Spa, the Director of the Shared Value and Sustainability Department and at least one external member who is an expert on social responsibility and sustainability.
In the meeting of the Board of Directors of Hera S.p.A. of 10 May 2023, the members of the Ethics and Sustainability Committee were appointed:
- Alice Vatta, Director of Hera S.p.A. with the functions of President
- Francesco Perrini, Director of Hera S.p.A.
- Filippo Maria Bocchi, Head of the Shared Value and Sustainability Department of Hera S.p.A.
- Nicoletta Tranquillo, expert in corporate social responsibility (external member)
who will remain in office until the date of approval of the Financial Statements for the year 2025.
Our stakeholder
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Integrity and anti-corruption
The sustainable growth of companies is often threatened by the risk of corruption.
Thanks to the new UNI ISO 37001 standard, all companies and organizations now have an additional tool to actively contribute to the fight against corruption. The directive, which is adopted on a voluntary basis, envisages a certification that is issued only if certain conditions are met.
The Hera Group has achieved this significant certification after a careful study conducted by company working groups on certain intervention areas. By involving the company structures that work with sensitive processes, we were able to achieve compliance with the standard's requirements.
The Group has therefore defined a specific Anti-Corruption Policy, a Training Plan and a Compliance Department within the Supervisory Body.
Achieving this certification further enhances the effectiveness of the tools our multi-utility already uses to address possible corruption cases, including the 231 Organisation and Management Model that governs the liability of organisations for administrative offences caused by crimes.
Our anti-corruption system is therefore composed of:
- Our Code of Ethics;
- Our Quality and sustainability policy;
- A Model for the prevention of corruption that supplements the existing "Model 231", which already covered the types of corruption included in Italian Legislative Decree 231/2001;
- Our guidelines for fraud prevention and management;
- Periodic audits and training activities to prevent fraud and corruption;
- A whistleblowing system to handle reports of both corruption and offences that are potentially significant in relation to the 231 Model;
- CEI ISO 37001 certification
The ethical value of Hera's stock
In order to emphasise the consistency between our management actions and the principles embodied in the Group's mission, we are committed to providing investors, analysts and lenders with all the information they need, in a transparent and correct manner.
In addition, we work to ensure that the shared value that is generated and the environmental, social and corporate governance results achieved through our general approach to sustainability is transferred to the value of our stock.
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