Governance
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.
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.
Safety
Performance
Innovation
Expertise
CooperationWe 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.
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.
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.
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.
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.
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.
Partnerships for the goals
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.
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.
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.
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.