Ignitis Group seeks to operate responsibly and sustainably, therefore, we do not tolerate any form of corruption. We stand for conscientious business and transparent communication with all interested parties. Anti-corruption Policy is the Group’s document for corruption prevention, which states how we apply anti-corruption measures in all activities.
Compliance is defined in the Group as the compliance of companies’ activities according to the Group’s values, national legislations and recommendations, in order to ensure the transparency and legitimacy. The Policy determines the compliance management process, its control and responsibility during the process.
Corporate Governance Policy sets the general governance principles within the Group, which ensures the integration of the Group’s companies into one organisation according to their activities and function. It also ensures fast and effective decision making and implementation, as well as competence concentration.
The Policy emphasizes the importance of goal-oriented principles and coordination between the parent company and every division and employee of each company of the Group, and, their activities and functions. The Group is a matrix organisation, which ensures cooperation and agreement between the companies and their functions regarding activity direction, targets, responsibilities and accountability, Group’s priorities of interest and the controlled size of information exchange.
The Policy describes applied corporate governance structure model, bodies which monitor the companies and committees organized by Supervisory Board, which, according to their competence, curate Group-wide issues.
Dividend Policy defines the main principles, which are strictly followed when the parent company’s and all Group’s companies’ governing bodies make decisions about the Group’s dividends allocation. The Policy helps the value growth of the Group’s companies by making sure to provide adequate information to the Group’s shareholders and other parties about the long-term returns on investments of the Group’s capital. The Policy also determines the dividends’ size, allocation and pay-out procedures.
Ignitis Group’s Code of Ethics is based on organisation’s values and defines which ethical action principles the Group’s companies and employees must follow. The Code denotes for all parties of interest how the Group’s companies act in ethical and responsible principles in all their activities and what the Group expects from its partners. Our strongest perception is that we are all different, therefore – we are strong. The Code of Ethics provides the main guidelines of ethical practice and conduct.
The purpose of the Commercial and Regulated Procurement Policy of the Group is to establish the main principles for planning, execution and control of procurements of the Group companies according to which the Group companies conduct commercial and regulated procurements.
The Group is implementing its long-term strategy by mainly focusing on decarbonization of the energy sector, sustainable energy development, promotion of innovative solutions and sustainable development. By seeking sustainable development, the Group takes on responsibility for its impact on the environment. The Policy consists of main principles and commitments, which will guide the Group’s development of activities related to the environment.
Potential environment related incidents or environmental incidents that already occurred can be reported at Group’s Trust Line at pasitikė[email protected], or by leaving Trust Line a voice message at +370 640 88889.
Ensuring equal opportunity and diversity is key part of the Group’s and its employees’ relationship and Code of Ethics. The Group’s strength is having more than 3,500 employees; therefore, it’s important to use and to help flourish every individual’s unique abilities and point of view by creating an environment suited for equal opportunity and diversity.
The Group’s financial risk management and control priority is minimisation of financial risk which can have a significant impact on the Group’s strategic targets. The Financial Risk Management and Control Policy lists possible risks pivotal to the Group’s strategic targets, their key management, monitoring principles, their control principles and measures.
Financial Risk Management and Control Policy
The aim of the Policy is to determine the common Group’s financial support provision principles.
Financial support policy
The role of information is vital for the activities of the Group. If not enough attention and resources are spent on information security, the risk of loosing competitiveness in the free market, financial and reputation loss, and failing Group’s target goals increases. The Group ensures the security of information by acting according to the international information security standards (ISO 27001, IEC62443) and global good practices of information security. The Group manages risks by evaluating the risks of information security and key operational processes of IT and energy generation and distribution technologies. To ensure information security, it is also important to promote safe information culture, information assets’ security, compliance with internal and external information security legislations, systemic management of incidents and vulnerabilities, clear ownership and assurance that deals with third-party partners will incorporate statutes, demanding that the recipients of information ensure no less than equal information security level to the level that is applied in the Group.
Information Security Policy
Effective and fast development of innovations is perceived as one of the strategic activities of the Group, which assist the companies with their strategic targets’ implementation and increasing their competitiveness. While the energy sector is growing fast, we seek to grow the reach of the Group’s companies in current and new markets by focusing a significant amount of our attention to new technology integration into the activities of the Group. The Policy defines the main principles which will help us reach eventual achievement of innovation development goals.
The Group supports responsible and ethical business and stands strictly against any type of abuse of financial markets, including such actions as manipulation of or an attempt to manipulate the market, trade or an attempt to trade based on information that is not publicly available or illegal disclosure of information that was not made public. The Policy defines the main measures with which the Group seeks to ensure compliance with Market Abuse Regulation (MAR) requirements and prevent abuse of financial markets.
Market abuse prevention policy
The achievement of strategic targets set by the Group is inseparable with the Group’s success to attract and maintain qualified employees by involving them in various activities, boosting their motivation, providing them with career opportunities, motivating them and, simultaneously, creating an environment for their development.
The Group works to form the image of an attractive employer, plans adaptation of new workers, implements measures to achieve better activity results from organization, divisions and unique employees by planning the activities and goals while improving the competence required. The Group improves and develops competences of its employees, creates an environment to identify employees with a high level of competence and their potential of growth, and help them realize themselves. The employees’ support of changes is important to the Group, that’s why the Group actively involves its employees in the decision processes when making changes.
The Group stands strongly against any form of discrimination of its employees because in any way that is not related to the professional abilities.
The Group also cooperates with trade unions based on social dialogue and partnership, in order to achieve the Group’s goals. The Group seeks to ensure safe work environment and healthy work conditions, rights for employees, social welfare, high level of work culture, suitable work conditions, to motivate employee loyalty to the Group and improve overall work satisfaction.
People and culture policy
Personal Data Protection Policy states that personal data is managed in clearly defined legal manner and according to the General Data Protection Regulation (GDPR) and the Law on Legal Protection of Personal Data of the Republic of Lithuania. The companies integrate technical and organizational measures to protect personal data from accidental or illegal destruction, alteration, disclosure, as well as from any other type of illegal data handling. Personal data is provided to entities which are established and running in countries outside of the European Union only if said entities can assure an adequate personal data protection level. The Group implements principle personal data protection measures, as stated in the Policy, including activity monitoring, impact assessment, risk management and education of employees.
Personal Data Protection Policy
The purpose of the Public Procurement Policy of the Group is to assure implementation of the laws of the Republic of Lithuania and the directives of the European Union on the requirements for conclusion of public contracts, and to establish the main principles for planning, execution and control of public procurements of the Companies, according to which the public procurements are implemented in the Companies of the Group.
The aim of the policy is to regulate the use of collateral in transactions and the assessment and monitoring of the financial condition of suppliers in the Group.
Policy on the use of group collateral and assessment of the financial condition of suppliers
The purpose of the Policy is to lay down rules and procedures for the conclusion of transactions for the full or partial sale of shares in direct subsidiaries or further tiers subsidiaries of AB “Ignitis grupė” which are not listed in a stock exchange, when such transactions are not concluded between AB “Ignitis grupė” and/or its subsidiaries and/or its further tiers subsidiaries as well as between the aforementioned companies and other companies whose shareholder is a state-owned enterprise, its subsidiaries and/or further tiers subsidiaries.
Policy for the full or partial sale of the shares in Group's subsidiaries
Attracting and sustaining competent employees who are fast learners, technologically savvy, thinking globally and who innovate is part of the Group’s strategy. The principles of how the remuneration system is formed can be found in the Remuneration Policy.
For the Group management to attract and maintain high-level professionals, the Group determines the remuneration of employees by referring to the salary median of the country in which the company is based in and also by taking into account the financial leeway of the Group.
Remuneration of collegial bodies
The purpose of this policy is to establish a unified Group risk management model and principles, the application of which would help the Group and each of its Companies to ensure the uninterrupted performance of the Group's core activities in the short and long term, protect reputation and ensure credibility, protect the interests of customers, stakeholders and the public and other risk related issues.
The Policy of the Group Transactions with Related Parties is intended to protect the interests of AB Ignitis grupė and its shareholders in order to assess possible conflicts of interest and avoid possible negative consequences of concluding transactions with related parties.
Transactions with related parties policy
The Group is one of the largest buyers of various goods, services and works – companies owned by the Group carry out about 3,200 public and commercial procurements every year.
In order to contribute towards creating a more sustainable future for all of us, we are inviting all suppliers of the Group to comply with the provisions of the Supplier Code of Ethics.
Supplier Code of Ethics
Sustainability Policy is the core policy of Ignitis Group’s sustainable development, which defines the implementation and execution monitoring principles of sustainable development, as well as the main implementation measures of the principles, which work as guidelines for the strategic targets and create responsible and sustainably developing business culture and practice. Ignitis Group commits to coordinate its strategic goals and activities with the goals of sustainable development, follow UN Global Compact principles, participate in the Paris Agreement and fight climate change while using the good governance practices.
While implementing the occupational health and safety policy the Group is aiming to establish the main principles of a strong culture of occupational health and safety which encompasses all employees of Group companies, ensures the application of good practices and unified, transparent data processing and analysis at the Group companies. The safety culture shall be formed based on personal responsibility and cooperation.
The purpose of the Policy is to establish the general principles of the Group's vehicle fleet management, to define the main provisions to be followed by the Group's companies in their activities while managing their vehicle fleets and implementing strategic goals.
Note: on September 2019, Lietuvos energija became Ignitis Group. This is the reason why some of the policies contain term ‘Lietuvos energija’ or its acronym ‘LE’. It should be interpreted as ‘Ignitis Group’; the term ‘LE2030’ – as the updated strategy of Ignitis Group.