Ethics and relations with the institutions
The availability of sufficient energy across the whole territory and under competitive conditions is a primary need for any country. In this setting, Italgas, the first Italian infrastructure operator in the gas sector, plays a particularly delicate role, as it has to guarantee the operation of a resilient and secure transport, storage and supply system capable of anticipating all the possible market scenarios expected in the medium to long term.
The ability to predict and analyse the evolution of the market, operational excellence, managerial and financial rigour are among the first requirements to ensure this objective is reached, but monitoring of the national and European regulatory framework and managing an adequate system of relations with the institutions and the public authorities are equally important.
This is why Italgas monitors the evolution of the legislation in the countries where it operates, mainly in Italy and the European Union, on the following topics:
- environment and climate change;
- national and European energy security;
- energy market functions;
- taxes in the sector;
- labour legislation;
- technical and safety rules in the operation of systems and infrastructure.
To this aim, directly or through the trade associations – ENTSO-G and GIE in Europe; Confindustria, ANIGAS and Assomineraria in Italy – it interacts with the legislator and policy makers to contribute to the adoption of laws that reconcile the achievement of the business management and development objectives with the policy and governance objectives.
Italgas’s business is based on the principles set out in the Code of Ethics signed by the Group’s employees and suppliers; principles that describe the value system – ethics, transparency, correctness, professionalism, good faith, honesty, respect of the legitimate interests of all the stakeholders – at the basis of the elaboration of the company’s strategies and the conduction of its activities.
In its relations with the institutions and public authorities, Italgas’s action is therefore characterized by transparency, loyalty and correctness. The company’s interests are represented and the elaboration of the Group’s strategies and projects are supported by providing a complete and rigorous description of the facts, the company’s aims and the consequences for its shareholders and all its stakeholders, as well as the expected benefits for the national energy system.
Meetings with authorities and public administrators are traced and a record is kept of the actions carried out in support of the company positions on specific regulatory provisions.
Italgas is present on the “Voluntary transparency register” of the European Parliament and the Commission and thus adopts its Code of conduct set out in Annexe 3 of the Interinstitutional agreement of 2014 on the Transparency Register, which establishes the rules to be followed by all those registered and establishes the basic principles for the rules of conduct in all relations with the EU institutions.
Italgas is also in favour of adopting a balanced law for regulating the Interest representation activities, in line with the model of many other Western countries, in the Italian regulatory system.