Red Eléctrica has been recognized by the sustainability rating agency Vigeo Eiris as Top Performer in the responsible integration of social factors in its supply chain, being the only Spanish company among the 20 leading companies worldwide.
The Vigeo Eiris report is a benchmark framework for investors committed to sustainability. For the first time ever, it has evaluated the degree of transparency in the integration of social and environmental factors in the supply chain analysis of 1,288 companies, from 8 different sectors, based in Europe, EE. UU., Canada and Asia Pacific.
Red Eléctrica has a sustainable supply chain management model aimed at promoting collaboration between the company and suppliers, hence improving management efficiency, generating mutual benefit and developing a more demanding model in corporate responsibility matters.
One of the objectives of this model, managed in accordance with the guidelines of the Company’s procurement policy and within the framework of relations established in the Supplier Code of Conduct, is to minimise, throughout the supply chain, the business, technical, environmental and occupational health and safety risks, in addition to those related to working conditions and ethical conduct, seeking to continuously transform and improve processes and policies associated to the supply chain.
Through the implementation of the Supplier Code of Conduct, the Company is driving a series of measures to optimize its processes and disseminate the principles of accountability, objectivity, transparency and fairness.
According to this spirit of improvement, Red Eléctrica has incorporated into its procedures the social audits focused, initially, on verifying the working conditions and ethical commitment of suppliers who provide services to the Company.
Social audits contribute to passing on to suppliers the value of best practices in corporate responsibility, with particular emphasis on respect for the principles of the Universal Declaration of Human Rights and the recommendations of the International Labour Organization, the development of honest business activities and the management of responsible relationships with society, in particular, the respect for social and environmental principles.
The distinction awarded by the rating agency Vigeo Eiris reflects the firm commitment of Red Eléctrica to promote and integrate responsible practices in its supplier management model and ensure a sustainable value chain.
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