Skip to Content

Governance

Vision 2030

CEZ Group's values are the basis of the corporate culture on which we have grown over the years. The values represent shared beliefs and desired conduct expected of all our employees. Embedded in key governing policies, these values are naturally integrated into the company. As a result, the values positively influence the internal atmosphere, external perception, customer satisfaction, and business results of CEZ Group.

Our governance targets
  • Diversity and equal opportunities

    We will reach 30 % female representation in management.

     

  • Business ethics

    We will increase the frequency of employee training in the Business Ethics, training at least 95 % of employees annually from 2022 onwards.

The following principles represent our corporate values:
SafetySafety
PerformancePerformance
InnovationInnovation
ExpertiseExpertise
CooperationCooperation

We encourage employees to put the principles at the forefront of their daily working lives. In doing so, employees create synergies innate to CEZ Group and help to implement our strategy and vision. Accordingly, we attempt to set the right values and principles to create the right work environment and build a strong team.

Highlights
0/0Supervisory Board

Six out of twelve members are independent.

0/0No Corruption

Zero confirmed incidents registered across CEZ Group.

0/0Data Protection

Zero complaints received by DPO from supervisory authority or data subjects concerned.

0/0No Financial Sanctions

Zero financial sanctions incurred by CEZ Group in connection with possible personal data protection breaches.

0/0Sustainability-linked Bonds

CEZ Group linked the bonds to an emission reduction commitment and issued the first ever SLB by an investment-grade energy company in Central and Eastern Europe.

0/0IAEA Inspection

Dukovany and Temelín nuclear power plants successfully passed the inspection, and 15 examples of best practice were highlighted.

0/0Internal Audit

ČEZ, a.s., Internal Audit was evaluated by KPMG with the overall score of 97,2% in maturity.

0/0Cyber Security Audit

Dukovany and Temelín nuclear power plants fulfilled the requirements according to EN ISO/IEC 27001:2017 and gained international certification valid until October 2024.

0/0Anti-corruption

Procurement and Compliance Departments met the requirements for certification of the anti-corruption management systems according to ISO 37001:2016.

0/0Compliance Management System

CMS was evaluated by Deloitte and confirmed to correspond to the standard of ISO 37301:2021 – Compliance management systems – Requirements with guidance for use.

0/0UN Global Compact

CEZ Group became a participant in the UN Global Compact.

Code of conduct
Code of conduct

CEZ Group management promotes ethical values in all business activities and conduct. Management clearly states its objective in two main documents: the Code of Conduct Policy (Code of Conduct) and the Compliance Management System Policy.

The Code of Conduct sets forth ethical rules for employees and members of CEZ Group's statutory bodies. Details of practical measures (e.g., training, prevention of conflicts of interest, whistleblowing, investigations) are part of the subsequent internal guidelines.

The Board of Directors of ČEZ, a. s. accepts full responsibility for compliance with the adopted ethical standards. This responsibility includes, among other things, the creation of appropriate conditions, adequate resources, effective governance structures, and control mechanisms.

The Code of Conduct exists in two publicly available versions: the basic version - the Decalogue and the unabridged version - the Alphabet. Both documents undergo regular reviews to reflect legislative demands and best practice.

The Code of Conduct is binding on all employees. New employees must review the Code upon hiring. From 2022, the frequency of training was adjusted to an annual basis with at least 95% of staff participating.

Download

Commitment to Governance

We respect the sustainability agenda adopted by the Czech government in the strategic Framework Czech Republic 2030 and we apply two key principles of the United Nations 2030 Agenda: quality of life and sustainability. The Czech strategic framework is based on seventeen global sustainable development goals (SDGs) adapted by the United nations member States in 2015. We link the selected global topics to CEZ Group’s sustainable development strategy. In 2015, countries adopted the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals.

We are aware of our role in society and the responsibility this role inevitably entails. Our management emphasizes ethical principles in all employee and supply chain conduct. Through sound business ethics and relations, we strive to pave the way for trust with both shareholders and stakeholders.

In accordance with the CEZ Group's interest, management systems are being introduced to support corporate management. These management systems are certified by accredited certification bodies or verified by independent bodies designated for this purpose, in accordance with the expectations of stakeholders. Certification of individual companies within the CEZ Group promotes transparency and communication to the general public and other stakeholders.

The Sustainability Report is prepared in line with globally recognized reporting frameworks to meet the highest transparency standards. We apply the Core option of Global Reporting Initiative (GRI) Standards 2020, the Sustainability Accounting Standards Board (SASB) standard for electric utilities and power generators, and the World Economic Forum (WEF) metrics and disclosures. We report Greenhouse Gas (GHG) emissions in line with independently verified emissions under the EU Emissions Trading System (EU ETS) for a substantial part of Scope 1. We use GHG Protocol for the remaining part of Scope 1, Scope 2, and Scope 3.

SDGs
icon

We respect the sustainability agenda adopted by the Czech government in the strategic Framework Czech Republic 2030 and we apply two key principles of the United Nations 2030 Agenda: quality of life and sustainability. The Czech strategic framework is based on seventeen global sustainable development goals (SDGs) adapted by the United nations member States in 2015. We link the selected global topics to CEZ Group’s sustainable development strategy.

In 2015, countries adopted the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals.

Main SDGs
GENDER EQUALITY
GENDER EQUALITY
GENDER EQUALITY

Gender inequality and discrimination must be eradicated. The goal is to achieve gender equality and empower all women and girls. All forms of discrimination and violence against women must be eliminated. Political, economic and social equality of women will benefit the whole society. We must ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision making in the political, economic and public life.

PEACE, JUSTICE AND strong institutions
PEACE, JUSTICE AND strong institutions
PEACE, JUSTICE AND strong institutions

We must promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels. Promoting the rule of law at the national and international levels and ensuring equal access to justice for all are key to the process. We cannot hope for sustainable development without peace, stability, human rights and effective governance based on the rule of law. We must promote and enforce non-discriminatory laws and policies for sustainable development.

Other SDGs
  • Partnerships for the goals

NewsMore
12/21/2022
Social
Governance
CEZ sends equipment to Ukraine

CEZ donates over thirty pieces of important equipment to its energy counterpart, DTEK Group in Ukraine, to help in the restoration of the war-damaged Ukrainian energy infrastructure.

12/12/2022
Governance
Environmental
EIB to support CEZ with a record EUR 790 million loan

CEZ Group signed a loan facility agreement with the European Investment Bank amounting to EUR 790 million to support financing of investments into reinforcement and further development of the distribution grid in Czechia. It is the largest EIB loan ever negotiated in Czechia.

12/09/2022
Governance
Award for CEZ Group Annual Report

CEZ Group Annual Report 2021 won second place in the Best Annual Reports of the Czech Republic competition. The competition is organized by the CZECH TOP 100 association and has a long tradition: this year marked the 29th year of the competition.

12/08/2022
Social
Governance
Environmental
CEZ participates in energy independence project

Academics and private companies will cooperate in a six-year research project to find solutions for energy independence of Czechia. The project involves 34 partners, including experts from universities, researchers from the Czech Academy of Sciences, and representatives of business.