Integrity and human rights due diligence
Redeia's Compliance Policy principles include, among others, establishing the necessary due diligence measures for an adequate selection and monitoring of third parties in terms of ethics and compliance. Similarly, the company's Sustainability Policy includes an express commitment to respecting and promoting internationally recognised human rights in the sphere of influence of Redeia's companies, acting with due diligence, properly managing the impacts of its activity or the activities of those with whom it has relations, and establishing the appropriate mechanisms for redress.
As part of its responsible corporate management, and with the aim of preventing and detecting risks arising from relations established with third parties, Redeia sets out due diligence measures for a considerate selection and monitoring of the third parties with whom it has relations in terms of integrity and human rights, including not only suppliers and clients, but also business partners and other third parties.
Redeia has an internal action guide entitled "Due diligence in integrity and human rights of third parties", which purpose is to establish the criteria and measures necessary to provide the company with an adequate mechanism for selecting and monitoring the integrity and human rights of third parties.
The guide sets guidelines to:
- Obtain information about the integrity, respect for human rights and background of third parties, as a parameter for decision-making about intended relationships with third parties and the development of such relationships.
- Establish accountability for the implementation of due diligence measures with third parties.
- Manage the integrity and human rights risks to which Redeia is exposed as a result of relationships with third parties.
- Establish appropriate control measures to mitigate integrity and human rights risks, as well as implement reaction and reparation measures when non-compliance is detected.
- Spread among Redeia's members the relevance of the integrity and human rights due diligence system with third parties.
The whole purpose of this is to mitigate the risk of Redeia having associations with third parties who engage in conduct contrary to its own ethical values, especially to illegal activities in the field of integrity such as corruption, bribery, money laundering, financing of terrorism or others of a similar nature, and in the field of human rights, such as: forced labour, human trafficking, child labour, restriction of the right of association and collective bargaining, the right to decent work, non-compliance with the principle of equality and non-discrimination.