Corporate governance

Ethics and transparency

Red Eléctrica's Code of Ethics is one of the key elements regarding the company's corporate responsibility management.

The Code of Ethics is the cornerstone with regard to the development of the corporate values that the company is endeavouring to instil amongst its personnel and, on the other, it explicitly lays down the fundamental principles that shall be followed not only by the members of the Board of Directors but also by those in management positions and the company's general workforce and, additionally, this may be invoked by our stakeholders.

Red Eléctrica has appointed an "Ethics Manager" in order to deal with any doubts that may arise and to receive, analyse and solve any complaints that might be submitted. The person appointed is Rafael García de Diego Barber, General Counsel and Secretary of the Board of Directors at Red Eléctrica. This figure, which involves a direct relationship with the Chairman or the Board of Directors, shall maintain the confidentiality of the processes as well as being responsible for the development, consolidation and ongoing improvement of ethics management at Red Eléctrica.

The company provides its stakeholders with a form for possible enquiries or suggestions they may wish to bring to our attention. It also provides another form for submitting any alleged breach of the code by any of its employees, departments or by the company as a whole.

It is most important that notifications of breaches not be reported unless there is clear evidence of non-compliance with any or several of the principles contained within the code. Therefore, in the event of any uncertainty, the first channel to be explored prior to reporting an alleged breach is that deriving from the relationship between the stakeholder and the person in charge at the company.