CEZ Group Policies
Policies are a set of principles and rules that influence decision-making in CEZ Group companies. Policies are based on legislative and ESG requirements, taking into account the requirements and expectations of key stakeholders.
Policies help to set up the company’s management system so that it is aimed at meeting legislative requirements and achieving the company’s long-term goals. Policies are further applied through specific actions in the management system or by announcing action plans, projects, and programs. In practice, this means that, in connection with the business concept, the CEZ Group strategy, the business plan, and the annual budget, the Board of Directors of ČEZ, a. s., sets CEZ Group’s priorities and annual goals (tasks) for individual ČEZ, a. s., divisions, which are followed by annual tasks and group performance indicators for subsidiaries. The evaluation of the fulfillment of indicators and annual tasks is performed quarterly.
When creating policies, material risks, their impacts, and opportunities within the scope of business activities in CEZ Group are evaluated. Policies are intended both for managers, determining the direction of their decision-making, and for rank-and-file employees, for whom policies serve as a framework for their daily behavior in the performance of their activities. Policies intended for CEZ Group companies are approved by the company’s Board of Directors.
An integral part of these activities is close work with labor unions. Policies are disclosed to the stakeholders, especially employees, suppliers, and the public. Policies are published primarily through CEZ Group’s managing documentation system, corporate websites, within the intranets of CEZ Group companies, during meetings with employees and suppliers at all levels, and in expert committees and groups. Key information about the established policies of CEZ Group is placed in the main communication, social, and representative spaces.
The company’s Board of Directors is responsible for ensuring that the content of policies is regularly reviewed and verified to reflect the mission, vision, and goals of CEZ Group, support its strategies and strategic priorities, and emphasize the importance of complying with established obligations. External requirements, which CEZ Group reflects when setting policies, include primarily European and national legislation, including requirements of international organizations and agencies. These include, in particular, directives and regulations of the European Parliament, legislation in the Czech Republic, goals of the United Nations (UN), fundamental conventions of the International Labor Organization (ILO), as well as the requirements of international agencies, such as the International Energy Agency (IEA), the International Atomic Energy Agency (IAEA), and the International Organization for Standardization (ISO).
