At Celsia, ethics and transparency are not negotiable. Our commitment to integrity is permanent. This principle is reflected in all actions with our Stakeholders. We are convinced that ethics and integrity are essential to be sustainable, which is why we live these principles and integrate them into the Organization’s operation, processes and strategy, thus responsibly generating value for our business, the Shareholders and for society.
Our guidelines and directives in Corporate Governance, Ethics, Transparency, Competition and Anti-Corruption are mainly in our Bylaws, Good Governance and Business Conduct Codes and in some of our policies (Policy for the Management of the Risk of Fraud, Bribery and Corruption, and the Competition Policy).
This is an indispensable tool that provides guidelines that facilitate the reporting of irregularities and allows preserving the confidentiality of information and promoting appropriate environmental, health and safety practices. This code is essential to prevent:
Corruption and bribery.
Money laundering and/or use of privileged information.
To ensure the effective implementation of our Code of Conduct, we have systems and procedures that allow us to:
- Define responsibilities, accountability and reporting lines in all the Organization’s divisions and companies.
- Complement compliance with the remuneration of our employees.
- Integrate compliance into our employees’ performance evaluation systems.
At Celsia, we have an Anti-Corruption and Bribery Policy that provides clear guidelines to prevent and to sanction.
(102-17) In our Transparency Line, the incorrect acts or violations of the policies established in the Code of Business Conduct can be reported personally or anonymously. This line is managed by an independent third party and has the required confidentiality.
We have transparency lines in each country where we operate:
- Colombia: (57) 01 – 8000 – 123 – 420.
- Panama:: (507) 00800 – 226 – 2591 and (507) 832 – 7907.
- Costa Rica: (506) 4000 – 1941.
- The email is the same for all countries: Celsia@lineatransparencia.com
We participate in the Collective Action on Ethics in the electricity sector, of which we have been a member for more than four years
We managed to update the Risk Map and the Manual of Good Competition Practices in the Electricity Sector.
Through the Anticorruption Committee, we train the member companies of the Collective Action on the minimum elements of a Compliance Program.
We developed a Guide on Consumer Rights, which is an annex to our Competition Policy. This guide was delivered to employees and we trained those whose functions are impacted by this guide.
Our Board of Directors approved the Research Policy for Senior Management, when incorrect acts or acts that go against the Code of Business Conduct and other policies are denounced.
Our employees completed the Annual Declaration of Potential Sources of Conflicts of Interest and the Declaration of Assets and Income. The latter is directed to Senior Management and to roles with some type of attribution to have company resources.
Within the framework of the Business Ethics Program, we continued the Committed campaign, aimed at our employees; its objective is to strengthen ethics, transparency and respect, in order to encourage them to reflect before making a decision and to do the right thing.
We carried out the Referents that are Part of Those Who Are Committed course, which focused on issues of risk prevention of corruption, bribery and fraud, and business conduct.
(205-2) Members of the Board of Directors were informed on and trained in the Organization’s policies and procedures to fight corruption.
(205-1) All of our processes have been evaluated against corruption risks, since the review of compliance risks – including corruption – is carried out transversely to the organization. Other risks reviewed were:
- Conflicts of interest.
- Embezzlement of assets.
- Unauthorized modifications to the information.
(205-3) In 2019, there were no reports of confirmed cases of corruption among employees or suppliers, or lawsuits for corruption, fraud, violation of the Code of Business Conduct, money laundering, financing of terrorism, unfair competition or restrictive practices.
In 2019, there were no reports of cases of fines or agreements related to anti-competitive practices, thanks to the commitment to manage the risks of corruption, bribery, money laundering and the financing of terrorism, the misuse of personal data, fraud and anti-competitive behavior.
Define the action plans and controls that are required against the most relevant compliance risks.
Give continuity to the Committed campaign and training on business conduct issues.
Continue advancing in the commitments of the Collective Action of the electricity sector.
Review the Compliance Risk Matrix, considering the Organization’s realities.
Continue to strengthen the Business Ethics Program by implementing controls, policies, procedures or manuals, as well as taking into account the Grupo Argos guidelines.
The consistency of Company behavior and crisis management that is reviewed in accordance with established principles and policies.
Internal rules governing the operation and governance of the Company; they are approved by the General Assembly of Shareholders.
Fraud, Bribery and Corruption Risk-Management Policy
Parameters in the development of the Code of Business Conduct to implement a system for risk management, in order to establish control measures aimed at preventing their occurrence.