This sets out the main values that guide Eni’s actions. Everyone in Eni, along with those who work with us towards the same objectives, is bound to comply with the principles in the Code of Ethics.
Integrity and transparency are the principles that guide Eni’s action in formulating a management and control structure that is suited to its size, complexity and operating structure, in adopting an effective internal control and risk management system, and in communicating with shareholders and other stakeholders, also by reviewing and updating the information on its website.
Eni was one of the first European companies to create a Business Conduct Code. The first version dates back to 1994.
These values are set forth in the Eni Code of Ethics, approved by the Board of Directors on March 14, 2008, which replaces the previous 1998 Code of Conduct. The Code of Ethics was updated on April 10, 2014 and lastly on October 27, 2016.
Directors, Statutory Auditors, management and all Eni’s employees, as well as those who operate in Italy or abroad to achieve Eni’s objectives, are required to uphold, in the context of their own functions and duties, the principles set out in the Code of Ethics.
The Code contains concrete rules of behaviour, so that the principles contained therein form a practical guide for corporate operations.
For that purpose, the Code of Ethics has been translated into 21 languages. It has been distributed widely and is explained through a range of initiatives, including special training courses. The Code represents an essential general principle of Model 231 of which it is an integral part, as well as a key element of the anti-corruption framework: the synergies between the Code of Ethics and the Model 231 are underlined by the assignment to the Eni Watch Structure – established by Model 231 – of the function of Guarantor of the Code of Ethics, with the duty of promoting and verifying its implementation.
The Guarantor of the Code of Ethics presents a report every six months on the implementation of the Code and any updating need to the Control and Risk Committee, to the Board of Statutory Auditors and to the Chairman and Chief Executive Officer (“CEO”) of Eni, who in turn report to the Board.
The Code of Ethics applies to all direct or indirect subsidiaries, both in Italy and abroad. Each subsidiary assigns the function of Guarantor of the Code of Ethics to its own Watch Structure.
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