- CODENSA and EMGESA exceeded the essential requirements to join the list of the EAA initiative, which makes them examples in the country in regards to anti-corruption practices and activities related to compliance and business ethics in Colombia.
CODENSA and EMGESA, companies of the Enel Group, were recognized today by the Secretariat of Transparency of the Presidency as one of the six large companies in the country that have joined the record of Active Anti-Corruption Companies (EAA, for the Spanish original), with the highest international standards in complying with programs to prevent corruption.
In the assessment, CODENSA and EMGESA exceed the 100 basis points on 150 needed, required points in order to be put as examples in Colombia in regards to anti-corruption practices, as well as activities related to compliance and business ethics in the country.
Active Anti-Corruption Companies (EAA, for the Spanish original) is an initiative of the Secretariat of Transparency of the Presidency of the Republic, in which businesses from the private sector participate voluntarily in order to assess the existence and implementation of corruption risk prevention and mitigation mechanisms in their companies.
“To be recognized as one of the companies that complies with the highest international standards in regards to programs that prevent corruption is a source of pride, but above all it is a fact that encourages us to continue seeking the best practices and mechanisms that allow us to keep working with transparency, ethics and confidence,” said Lucio Rubio Díaz, General Director of Enel in Colombia.
The assessment process took more than six months and was done by an assessment committee made up by delegates from five companies, such as the National Business Association in Colombia (ANDI, for the Spanish original), Colombian National Federation of Traders (FENALCO, for the Spanish original), Network of Chambers of Commerce (CONFECAMARAS, for the Spanish original), Institute of Internal Auditors of Colombia (IIA Colombia) and the Network of Swiss Companies in Colombia, who assessed ten categories including: corruption risk management, internal control and accounting records, application of the anti-corruption program in its business relationships, the review and monitoring of the anti-corruption program, the policies and procedures of prevention in risk areas, among others.
“It is necessary to understand that the fight against corruption requires a commitment from the private sector and must be done preventatively and not only through sanctioning. It is through prevention where all social sectors can be active, adopting and proposing standards that eliminate any chance for those who decides to go against the law and trick the country. Therefore, today we applaud the companies that hold the high standards of our Active Anti-Corruption Companies initiative, as they show consciousness in facing a problem that concerns us all; their will is exemplary to commit the entire corporate structure in the fight against corruption and promotion of good transparency practices,” said Camilo Cetina, Secretary of Transparency.
CODENSA and EMGESA will continue to implement all the mechanisms and policies necessary to conserve and improve their current level, in pursuit of minimizing the risks of corruption and always do things correctly, following a policy of transparency that strengthens ethical leadership.
This assessment will take place every two years with the goal of following up on the compliance and/or improving of all the requirements of the initiative.
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ABOUT THE ENEL GROUP – CODENSA AND EMGESA
CODENSA and EMGESA are part of the Enel Group, a multinational energy company and one of the main global integrated operators in the sector of electricity and gas. The Group operates in more than 30 countries from four continents, generating energy through an installed net capacity of around 83 GW and distributing electricity and gas to a network of around 2 million kilometers. With more than 65 million users in the world, the Enel Group has the largest customer base compared to its European competitors. The Enel Group is the biggest integrated utility in Europe in terms of market capitalization, and it is among the main electricity companies in Europe in terms of installed capacity and reported EBITDA.
CODENSA S.A. ESP is a distribution and electric energy sales company, as well as a leader in the market, with more than 3,200,000 clients distributed in Bogotá, in 116 municipalities of Cundinamarca, six in Boyacá, four in Tolima and three in Meta. Established in 1997, Codensa has an installed capacity of 10.633 MVA (megavolt amperes) along 69,821 kilometers of high, medium and low voltage networks. The Company generates around 8,000 jobs both directly and indirectly in Colombia.
EMGESA S.A., a subsidiary of the Italian Enel Group, is a company involved in the business of generating and selling electricity in Colombia, with more than 900 clients on the non-regulated market and a total installed generation capacity of 3,458.8 MW. It has 12 hydroelectric power plants and two thermal power plants operating in the departments of Cundinamarca, Bolívar and Huila. Since 2013, it has played a role as a natural gas vendor in negotiation processes with producers, resellers and customers from the Non-regulated Market.