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ISAGEN on the list of the President’s active companies implementing anti-corruption policies

Jul 2017
ISAGEN on the list of the president’s active companies implementing anti-corruption policies

The President’s Secretariat of Transparency reported that the Management Committee, made up of five delegates from ANDI, FENALCO, CONFECÁMARAS, the Network of Swedish Companies and the Institute of Internal Auditors, accepted ISAGEN on the list.

ISAGEN was included after a team of experts which form the Technical Secretary completed the assessment process, including contracted consultants through the financial support from the European Union.

ISAGEN exceeded the minimum score required (100 basis points) after just participating for the first time.

The President’s Secretariat of Transparency included ISAGEN in the Active Companies Implementing Anti-Corruption Policies initiative (EAA, for the Spanish original), which it manages since 2014. For the energy generating company, this type of external activity is one of the fundamental action principles of the System of Business Ethics (SEE, for the Spanish original), since it contributes elements to identify gaps and opportunities for continuous improvement in the System.

“We consider the fight against corruption as a key element toward business sustainability and, more importantly, for the country's sustainability. Therefore, we are committed from the ‘External Action’ and ‘Collective Action’ scopes of our SEE to create spaces that replicate the business practices, with our value chain in particular and with our stakeholders in general,” said ISAGEN CEO, Luis Fernando Rico Pinzón.

The initiative consists of two categories: large businesses and SMEs. Thirteen “large businesses” participated in the first rating but only one passed. In the second, eight participated, and five passed. This year is the first time that ISAGEN voluntarily participated.

Inclusion Requirements

The initiative seeks to prevent corruption risks in order to contribute to creating confident relationships between the public sector, businesses and the company through the assessment and dissemination of a list of companies that incorporate to their business activities programs to comply with anti-corruption policies.

This initiative drives the implementation of said programs aimed at mitigating corruption and avoiding negative consequences in regards to the country’s competitiveness, contributing to discouraging corrupt practices that hurt fair competition, fair markets and the well-being of the consumers.

The companies must reach at least 100 points of the 150 points that correspond to the maximum score of the assessment, which are distributed into 10 categories of indicators: the corruption risk assessment; organization and responsibilities; policies detailing the particular risk areas; internal control and the accounting records; the implementation of the anti-corruption program in business relationship; communication and training; human resources; report and consult; review and monitoring of the anti-corruption program; and collective actions. The companies that decide to freely and voluntarily participate must respond to 109 questions online (classified in 10 categories) and submit the corresponding supporting documents.

According to the active Secretariat of Transparency, Camila Cetina: “It is necessary to understand that the fight against corruption requires a commitment from the private sector and that the fight against this phenomenon must be carried out preventatively and not only through sanctioning. It is through prevention where all social sectors can be active, adopting and proposing standards that would prevent businesses from acting against the law and trick the country.”

This list is not a certification, but it does contribute to mitigating the risk of corruption that companies face in their business activities. The companies that are on the list are also committed to participating in a new assessment every two years.

Because ISAGEN’s System of Business Ethics already implements compliance practices, the results included in this assessment are an important source of progress to deliver the tools and mechanisms to the Company’s team so that Ethics will still be regarded as the fundamental value in the relationship with the stakeholders.

For more information on SEE, go to: https://www.isagen.com.co/SitioWeb/en/sustainability/practices/business-ethics


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