Code of conduct
CEZ Group management promotes ethical values in all business activities and conduct. Management clearly states its objective in two primary 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. The Compliance Management System Policy sets out the responsibilities, conditions, and tools for ensuring compliance with ethics in CEZ Group. 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.
Published first in 2015, the Code of Conduct exists in two publicly available versions. The basic version, the Decalogue, summarizes the most important principles regarding stakeholder relations. The unabridged version, the Alphabet, supplements the Decalogue with rules for observing the Code of Conduct. Both documents undergo regular reviews to reflect legislative demands and best practices.
The Code of Conduct is binding for all employees. New employees must review the Code upon hiring. Since 2022, subsequent training takes place annually (previously once every two years), with a target of at least 95% of staff participating. In 2022, 97.4% of employees of CEZ Group companies, whose training is provided by the Human Resources Development Department of ČEZ, a. s., received training on the Code of Conduct.