The term Corporate Governance refers to the system of management and control of the company, in other words the set of technical and legal rules and regulations that aim to ensure effective and efficient management for the creation of value for all the shareholders, also taking into consideration the interests of other stakeholders.
A tool to create sustainable value
This system is fundamental for Eni’s business model and alongside our business strategy supports the relationship of trust with our stakeholders, contributing to the achievement of results and creating sustainable value in the long term.
Integrity and transparency
Eni pursues principles of integrity and transparency in defining its system of corporate governance, incorporating relevant general and special norms, the By-laws, the Code of Ethics, the recommendations outlined in the 2020 Corporate Governance Code to which Eni adheres, internal regulations and established best practice.
Reliability and efficiency
Eni is listed on the Milan and New York Stock Exchanges and has adopted a traditional management and control system that entrusts the Board of Directors with management responsibility and gives supervisory functions to the Board of Statutory Auditors. The statutory auditing of the company’s accounts is entrusted to an external auditing firm. The presence of the Italian Ministry of Economy and Finance as an important shareholder requires the supervision of the Court of Auditors and the implementation of some special regulations.
“Golden Powers” and shareholding limits
Eni is subject to the general laws for listed companies and special regulations relating to its activities. Added to these are laws linked to the holding of interests of strategic important assets in the energy sector (Golden Powers pursuant to Law No. 56/2012) and shareholding limits.
Eni’s Corporate Governance initiatives
In line with the principles of its Corporate Governance Policy, adopted by the Board of Directors, Eni is committed to creating a corporate governance system inspired by excellence. Accordingly, the Company promotes and participates in a number of initiatives aimed at improving its own system and that of the Nation.
During 2020, the participation in the Enacting Purpose Initiative should be noted. The final report of this Initiative contains insights into how the boards and senior executives can govern their organisation’s purpose, which Eni has defined in its “Mission”, including a new governance framework called SCORE . The final report is available on Enacting Purpose Initiative website and on the Oxford Saïd Business School website.
2021/06/14 - 09:00 AM