Recognition for the group compliance system for implementing best business practices
Iberdrola has renewed its Compliance Leader Verification, awarded by the Ethisphere Institute
- The institution has congratulated Iberdrola chairman Ignacio Galán’s commitment to excellence through corporate ethics, values and culture
Once again, Iberdrola has been awarded Compliance Leader Verification by the Ethisphere Institute an accolade granted exclusively to companies that go beyond complying with their legal obligations to demonstrate their internal culture and leadership, fostering ethical values in their business processes.
The Ethisphere Institute, an American organisation and the global leader in defining and advancing the standards of ethical business practices, has recognised the Iberdrola group compliance system with which the company implements best-in-industry practices.
The institution has also congratulated Iberdrola’s chairman, Ignacio Galán, for his commitment to excellence through its corporate ethics, values and culture.
According to the Ethisphere Institute, by earning Compliance Leader Verification, companies like Iberdrola can not only identify niches of action based on the entity’s data, but also address the need to improve their organisations on an ongoing basis.
To do so, Iberdrola has a specific compliance unit, a permanent, internal collective body attached to the Corporate Social Responsibility Committee of the Board of Directors. This unit has powers in the Iberdrola regulatory compliance and corporate government system, particularly in the crime prevention area.
Executive vice-president of the Ethisphere Institute, Erica Salmon, says that “corporate ethical standards are a basic, objective measurement tool for guiding business decisions and relationships with stakeholders”.
Iberdrola, the only Spanish company among the most ethical in the world
The Ethisphere Institute was recently selected as one of the world’s most ethical companies. According to the 2018 World´s Most Ethical Companies ranking, it is the only Spanish company classified in the Energy and Utilities, category, together with only five other multinationals.
To draw up this ranking, the Ethisphere Institute assessed five categories: ethics and compliance programme (35%), corporate social responsibility (20%), culture of ethics (20%), corporate governance (15%) and leadership, (10%).
Iberdrola is a global private sector company that has, since its creation over 150 years ago, worked to serve energy advancement, security of supply, quality and innovation. Thanks to a strong growth and internationalisation process that began in 2001, the company has become a world leader in clean energy and it is now one of the world's top five electricity utilities by market capitalisation, with over 34,000 employees providing services to 100 million people.
The group recently presented its 2018-2022 forecasts, which will involve an investment of €32 billion during the period and lay the foundations for future sustainable growth. Of this amount, 50% has been allocated to networks, 37% to renewables and 4% to generation and retail.”
Iberdrola's net profit in 2017 reached €2,804 million, an increase of 3.7% over the previous period, while EBITDA reached €7,319 million.