Stakeholder engagement

The construction of a relationship based on mutual trust with our stakeholders begins with the consideration of their interests and an analysis of their compatibility with those specific to the Company, in order to adopt a consistent and transparent policy.

In preparing its Code of Ethics, Terna identified – through the active participation of its Top Management – the eight most significant categories of stakeholdersin terms of the continuity of the relationship and the importance of the Company’s impact on them and vice versa.

For every stakeholder category, the following table shows the most important commitments expressed in the Code of Ethics and the specific engagement tools, such as monitoring and checking expectations and opinions. The various monitoring tools are used with different frequencies.

Stakeholder Commitments Instruments for monitoring and checking
Shareholders, financial analysts, lenders, banks, creditors, rating agencies
  • Balanced management of financial objectives and objectives regarding service security and quality.
  • Creation of value for shareholders in the short and long term.
  • Corporate governance aligned with the best practices.
  • Adoption of systems to forestall and control risks.
  • Attention to shareholders and informing them in a timely and equal fashion.
  • Commitment to avoiding insider trading.
Road shows, dedicated meetings, website and dedicated e-mail.
Sustainability rating.
Employees, directors, collaborators, employee representatives, trade union organizations
  • Safeguarding the physical integrity of employees and their personal dignity.
  • Non-discrimination and equal opportunity.
  • Investment in professional growth.
  • Recognition of individual capabilities and merit.
Survey on Organisational Wellness.
Focus groups on specific subjects.
Consultations, discussions and negotiation with the Trade Unions.
  • Opportunity to compete on the basis of quality and price.
  • Transparency and fulfilment of agreements and contractual commitments.
  • Transparent procurement processes.
  • Supplier qualification, including through quality, environmental, and social certification.
  • Anti-Mafia and anti-recycling prevention with suppliers
Procurement portal, direct meetings.
Private customers, grid users – producers, distributors, traders, interruptibles – users of the electricity system, grid owners, other grid operators, business partners
  • Efficient, quality service aiming at constant improvement.
  • No arbitrary discrimination among companies.
  • Confidentiality of information regarding grid users.
Consultation committee on Network Code, dedicated meetings. “Operator Consultation” box on Terna's website.
AEEG - the Electricity and Gas Authority, other regulatory authorities in the industry, government bodies or bodies with policy-making powers, Antitrust bodies, CONSOB, stock exchange entities, strike guarantee commission
  • Transparent, complete, reliable information.
  • Meeting deadlines.
  • Fair and collaborative approach to facilitate the regulatory task.
Regular meetings.
Ongoing relations with the AEEG offices and Council.
European Community and international bodies, national Institutions and government agencies, Civil Protection, national security authority and police forces, regions, provinces and autonomous provinces, associations representing economic interests, ETSO, UCTE
  • Representation of the Company’s interests and positions in a transparent, scrupulous and consistent way, avoiding collusive attitudes.
  • Ensuring utmost clarity in relations.
Direct participation on technical committees and governing bodies.
Media, universities and scientific associations, environmentalist associations, consumers' associations, opinion makers, opinion groups, national and international technical standards bodies, political parties
  • Public and uniform dissemination of information.
  • Exclusion of exploitation and manipulation of information to the advantage of the Company.
  • Pursuit of areas of cooperation of reciprocal interest with associations representing stakeholders.
Presentation and distribution of the Sustainability Report and the Development Plan. Organization of seminars, workshops, targeted surveys.
Collaboration and partnership initiatives.
National community and country, territory and environment, end users of the electricity service, local authorities directly affected by Terna's work.
  • Ensuring security, quality, and cost-effectiveness of the service over time.
  • Assessment of long-term effects of the Company’s choices.
  • Reduction of environmental impact of corporate activities.
  • Advance dialogue with local institutions to carry out investment that is respectful of the environment, landscape, and local interests.
  • Support for initiatives with social, humanitarian, and cultural value.
  • Provision of evidence of the implementation of environmental and social policy.
Consultation process in planning the electricity grid. Regular sample surveys of the population.