As a member of the anti-Corruption Charter of the Russian business, in 2019 the Company once again passed the assessment of the Russian Union of Industrialists and entrepreneurs of the completeness, adequacy and effectiveness of anti-corruption measures implemented in the Company and confirmed the compliance of the measures taken to combat corruption with the requirements of the Charter, as a result of which participation in the Charter was extended for two years.
Anti-corruption policy (basic principles, approaches, and areas)
The RusHydro Group conducts systematic work on preventing and detecting corruption offenses and eliminating (minimizing) the causes and conditions that give rise to corruption.
The fundamental documents of the RusHydro Group in the area of anti-corruption efforts are the Anti-Corruption Policy and the Code of Corporate Ethics, which contain a set of versatile, interrelated and consistent principles (including in the area of professional ethics), approaches and measures for preventing and eliminating (minimizing) the causes and conditions that give rise to corruption and for forming an anti-corruption consciousness characterized by the intolerance of employees, contractors, and the management bodies of the RusHydro Group toward manifestations of corruption.
In the Company, the Anti-Corruption Policy of RusHydro (the new version of the Anti-Corruption Policy was approved by minutes of the Board of Directors No. 263, dated December 28, 2017), which defines the main goals, objectives, principles and guidelines for preventing and combating corruption, and ensuring compliance with the anti-corruption legislation of the Russian Federation, is in effect.
According to the provisions of the Anti-Corruption Policy of RusHydro, all employees and members of the Board of Directors must comply with the norms of Russian legislation and international law in the area of anti-corruption efforts.
In addition, the employees of the Company holding posts that are subject to corruption risks must:
The Code of Corporate Ethics of RusHydro (the first version of the Code was approved by minutes of the Board of Directors No. 152 dated May 21, 2012; the new version of the Corporate Ethics Code was approved by the minutes of Board of Directors No. 235 dated April 8, 2016) is in effect in the Company. It takes into account the current recommendations of the Corporate Governance Code approved by the Bank of Russia, as well as other requirements and recommendations issued by regulatory bodies to date.
The Code of Corporate Ethics sets out the obligation of the employees and the members of the Board of Directors to act in the interests of the companies within the RusHydro Group and to avoid conflicts of interest.
In accordance with the Code of Corporate Ethics, employees are required:
In terms of conflict of interest prevention:
The Code of Corporate Ethics also states that employees are prohibited from:
In addition, the companies of the RusHydro Group adhere to the following policies for managing conflicts of interest:
Thus, the Anti-Corruption Policy and the Code of Corporate Ethics reflect the Company's commitment to high ethical standards of doing open and honest business in order to improve corporate culture, follow the best practices of corporate governance, and maintain its business reputation at a proper level.