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15/10/2015

IBERDROLA RECEIVES COMPLIANCE LEADER VERIFICATION FROM THE ETHISPHERE INSTITUTE


Recognized for demonstrating a clear commitment to building its compliance program and maintaining a strong ethical culture

Madrid (Spain) - The Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices and the provider of independent verification of corporate ethics and compliance programs, announced today that Iberdrola has earned Compliance Leader Verification.

Compliance Leader Verification is awarded exclusively to companies with best-in-industry compliance programs that have made the decision to proactively invest resources in compliance, sending a clear signal to key stakeholders that their company takes compliance and ethics seriously.

“Iberdrola has demonstrated a clear commitment to building their compliance program and maintaining a strong ethical culture,” said NYSE Governance Services Senior Compliance Counsel, Eric Morehead. “The company has done an excellent job communicating the importance of ethical behavior, fostering ethical leadership and has effectively utilized information, data and resources to address the needs of the compliance program on an ongoing basis.”

“Ethics and compliance have always been a priority at Iberdrola both to our internal management and across all of our supply chain,” said Iberdrola Compliance Director, Sonsoles Rubio. “We are proud of this certification which recognizes our collective effort for doing the right thing day after day in every business process.”

Through the Compliance Leader Verification process, NYSE Governance Services, a licensed credentialing partner, conducted a detailed review of the organization's current compliance and ethics-related initiatives and benchmarked them against the 'hallmarks” of an effective compliance program, as defined by the U.S. Federal Sentencing Guidelines (FSG) and corporate and industry best practices, including:

  • Standards (code and policies)
  • Board of director oversight
  • Program structure and responsibility
  • Training and communications
  • Due care
  • Monitoring and auditing
  • Enforcement and discipline

“The Compliance Leader Verification process combines recognition with detailed evaluation and offers a third-party verification that a company's compliance program is at the forefront of their industry in addressing and mitigating compliance risk,” said Ethisphere's SVP and General Counsel, Michael Byrne. “We would like to congratulate Iberdrola for earning Compliance Leader Verification.”

More information about Compliance Leader Verification is available at http://ethisphere.com/certifications/compliance-leader-verification/