Stakeholder involvement

The construction of a trust-based relationship with stakeholders starts with a consideration of their interests, and an analysis of their compatibility with the company's mission and objectives, so that a coherent, transparent line of conduct can be followed.

When defining its Code of Ethics, Terna also identified - with the active participation of top management - eight categories of key stakeholders, in terms of impact and continuity of relations.

The table below illustrates, for each category of stakeholder, the main commitments expressed in the Code of Ethics and the specific tools of engagement such as monitoring and the validation of expectations and opinions. The various tools are used at different times.

Stakeholder Commitments Monitoring and validation tools
SHAREHOLDERS AND ANALYSTS FINANCIALS AND FINANCIERS
(Shareholders, financial analysts, financiers, banks, creditors, rating agencies)
  • Balanced management of financial, safety and service-quality objectives. 
  • Creation of value for shareholders over the short and long term.
  • Corporate governance aligned with best practices.  
  • Adoption of risk anticipation and control systems.  
  • Timely, well-balanced response and information to shareholders.  
  • Commitment to avoiding insider trading.
Road shows, dedicated meetings, website and dedicated emails. Sustainability performance
EMPLOYEES
(Employees, directors, collaborators, employee representatives, trade unions)
  • Protection of employee's physical safety and dignity.  
  • Non-discrimination and equal opportunities.  
  • Investment in professional development.  
  • Recognition of individual capabilities and merits.
Investigation into organisational wellbeing Focus groups on specific issues. Consultations, comparisons and negotiations with trade unions.
SUPPLIERS
  • Opportunity to compete on the basis of quality and price.  
  • Transparency and respect for contractual conditions and undertakings.  
  • Transparent purchasing processes.  
  • Qualification of suppliers, also with quality, environmental and social certifications.  
  • Anti-Mafia prevention and anti-money-laundering, with respect to suppliers.
Purchasing portal, direct meetings.
GRID USERS, CUSTOMERS AND BUSINESS PARTNERS 
(Private customers, grid users - manufacturers, distributors, traders, interruptibles - users of the electricity grid, owners, other network operators, business partners)
  • Efficient, quality service intended to achieve constant improvement.  
  • No arbitrary discrimination among operators.  
  • Confidentiality of information regarding grid users.
Network Code consulting committee, dedicated meetings. “Operator consulting" section on the Terna website.
AUTHORITIES AND INSTITUTIONS REGULATORS AND AEEG
(AEEG-Authority for Electricity and Gas, other regulatory bodies, government bodies with powers of supervision, Antitrust, CONSOB, stock market regulators, strike guarantee committee)
  • Transparency, completeness and reliability of information.  
  • Respect for deadlines.  
  • Loyal, collaborative approach to facilitate regulatory tasks.
Periodic meetings.
INSTITUTIONS AND ASSOCIATIONS
(European Community, international bodies, national bodies, government agencies, civil protection, national security and police authorities, regional and provincial governments, interest group associations, ETSO, UCTE)
  • Representation of interests and positions in a transparent, rigorous and coherent manner, avoiding collusive attitudes.  
  • Guarantee of total clarity of relations.
Direct participation in technical committees and supervisory bodies.
MEDIA, OPINION GROUPS AND SCIENTIFIC COMMUNITIES
(Media, universities, scientific associations, environmental associations, consumer associations, opinion makers, opinion groups, national and international standardisation bodies, political parties)
• Uniform, public disclosure of information. • No instrumentalization or manipulation of information for the company's benefit. • Search for areas of cooperation, in the mutual interests of stakeholder associations. Presentation and diffusion of the Sustainability Report and Development Plan. Organisation of seminars, workshops and targeted inquiries. Collaboration and partnership initiatives.
COMMUNITY AND TERRITORY
(National community, local communities, the environment, end users of electricity services, local authorities directly affected by Terna's activities).
• Guarantee of safety, continuity, quality and cost-effectiveness of the service over time. • Evaluation of long-term effects of decisions. • Reduction of environmental impact of operations. • Ex ante dialogue with local institutions to ensure that investments take into account environmental and landscape issues, and local interests. • Support for social, humanitarian and cultural initiatives. • Provision of feedback on the implementation of the environmental and social policy. Concertation process in grid planning. Random surveys of the population.