We are a global operator of essential infrastructure
Prevention of corruption
The prevention of corruption is a necessary practice to help achieve an ethical and responsible management in the execution and delivery of services of the companies that make up Redeia, in accordance with the values and commitments set out in its Code of Ethics.
In January 2023, the Board of Directors approved the new 'Guide for the Prevention of Corruption and fraud: Zero Tolerance' in order to take steps forward in the Integrity Model of Redeia. The guide establishes the principles and mechanisms for the implementation of impeccable commercial relations. This implies the prohibition of any practice of corruption, bribery or facilitation payment, in all its forms, in accordance with the values and commitments included in the Code of Ethics and Conduct.
All people in Redeia are obliged to know and shall undertake to respect the contents of the Guide and review the way in which they carry out their duties and responsibilities based on the principles, undertakings and controls set out in the Guide. In particular, the exemplariness, support and the explicit commitment of members of the Board and the management team are a key element of value for its implementation.
Following the best practices in anti-bribery management systems, both Redeia’s parent company and its subsidiary, Red Eléctrica, have obtained certification to the international standard ISO 37001 "Anti-bribery management systems", which establishes the requirements to prevent, detect and manage bribery risks, complying with legislation and other commitments acquired voluntarily by the organisation.
Management of potential non-compliance
At Redeia, we have a structured system for managing potential non-compliance in areas such as the prevention of corruption and fraud, among others. This ensures an appropriate, proportionate response in line with the regulations applicable to each case.
Anyone connected to the company (both internal and external stakeholders) can report doubts or suspicions of non-compliance regarding the prevention of corruption and fraud through the Ethics and Compliance Channel. Redeia guarantees the confidentiality of the information received, as well as the anonymity of the reporting parties, where applicable. Furthermore, it ensures protection against any type of retaliation for whistleblowers who, in good faith, report facts that could constitute a breach of internal rules or applicable legislation.
Once potential misconduct has been identified, Redeia acts according to a defined process that generally comprises the following phases:
1
Investigation of the facts
The available information is analysed and, where appropriate, an internal investigation is launched. This is conducted in accordance with criteria of independence, objectivity, and confidentiality in order to determine the facts and assess their potential significance. This process allows the organisation to understand what occurred and make informed decisions.
2
Evaluation and adoption of corrective measures, where appropriate
When necessary, measures are adopted to correct the deficiencies detected and mitigate the identified risks. This includes reviewing and strengthening the relevant controls, processes, or actions, as well as implementing additional measures to prevent similar situations from recurring.
3
Application of disciplinary measures and other actions
Non-compliance with internal rules or applicable legislation may lead to the application of disciplinary measures in accordance with the internal and external regulatory framework, without prejudice to any other legal liabilities or actions that may apply. Likewise, Redeia may adopt appropriate measures regarding third parties who fail to meet the required standards.
This comprehensive approach allows Redeia not only to detect and investigate potential misconduct, but also to continuously strengthen its Compliance System, fostering a culture of integrity, transparency, and zero tolerance for corruption and fraud.