EDF Group’s commitment on ethics and compliance issues

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EDF Group’s commitment on ethics and compliance issues

Adopted at the end of 2013, the Group Code of Ethics defines the rules and principles that must guide the conduct of Group employees on a day-to-day basis. The Code of Ethics is available in French and English at www.edf.fr/edf/politique-ethique-conformite. It is also available in 10 other languages: Dutch, German, Hungarian, Italian, Mandarin, Polish, Portuguese, Russian, Spanish and Vietnamese.

In December 2015, EDF’s Chairman and Chief Executive Officer decided to create a Group Ethics and Compliance Department and set up a Group Ethics and Compliance Programme (GECP).

The main missions of the GECP are to consolidate a Group-wide ethics and compliance risk analysis, to create and coordinate the network of entity Ethics and Compliance Managers (ECMs), to provide support to executives and ECMs for the dissemination of relevant rules, to develop employee training and raise awareness, to ensure that failures to meet standards are addressed and to draw up regular reports for Group management bodies.

The programme meets national and international regulatory requirements and complies with business practices, placing all EDF senior managers and, more generally, all employees, at the heart of a compliance mechanism.

Managers must ensure that, on a day-to-day basis, all employees know, understand and comply with the rules of conduct relating to ethics and compliance.

Section 3.1.3 of the Group’s 2016 reference document gives further detail on ethics and compliance.

EDF Group ethics and compliance policy

In May 2016, EDF Group’s Executive Committee adopted the EDF Group Ethics and Compliance Policy (GECP), which brings together the main rules that all senior managers must know, comply with and ensure that entities comply with, in strict accordance with the risks faced by these entities. It is a single document that rounds out the Group Code of Ethics, which can be updated in line with new regulations and subjected to audit.

Poor knowledge of the rules defined in the policy may be punished at individual, entity and parent company level, including:

  • prevention of corruption risk (control of business integrity relations, business gifts and invitations);
  • financial ethics (prevention of money laundering and terrorism financing, business practices, compliance with EMIR regulations(1));
  • prevention of failure to comply with competition law;
  • prevention of conflicts of interest;
  • protection of personal data security;
  • protection against fraud;
  • protection against harassment and discrimination;
  • compliance with sector regulations (REMIT(2); dual-use goods);
  • compliance with international sanctions.

The GECP has established as a priority the prevention of corruption risk in order to prepare for the entry into force of the Sapin II Act. Aninternal bulletin on the control of the integrity of business relations was approved by the Group’s Executive Committee in September 2016 giving further details on this subject.

In 2016, the Ethics and Compliance Department created a network comprising around 40 Ethics and Compliance Managers (ECMs) in France and other countries. ECMs report directly to entity senior managers and participate in the management committees as a source of information and monitoring of the management of ethics and compliance issues. They have the resources and authority to roll out and ensure compliance with the GECP.