We fight corruption
Organisational transparency is a key aspect for a company like Eni that operates through a network of subsidiaries, joint-ventures and affiliates. "Transparency International", a non-governmental Organizational transparency organization which monitors and publicizes data and reports concerning the corruption phenomenon, considers organizational transparency as a crucial measure against corruption. This measure is even more important for companies operating in Countries where the level of openness may not reflect the highest standards or enable local stakeholders’ oversight. Eni provides information on the names, percentage holdings and Country of operations and of incorporation of its subsidiaries, joint arrangements, associates and other significant investments in the Integrated Annual Report 2017.
The corporate reporting survey
Eni has participated in various editions of the analysis on the transparency in corporate reporting carried out by Transparency International (TI), both at national (through the Italian chapter of TI) and international level. In November 2014, Eni topped the ranking of the corporate reporting survey among the world’s 124 largest listed companies, gaining 7.3 points out of the 10 available. The research was based on the data as of October 2013, and analyzes the companies’ corporate reporting on the basis of three dimensions of transparency:
- anti-corruption programs (reporting on anti-corruption programs);
- organisational transparency (including the disclosure of the names, percentage holdings and Country of operations and incorporation, for both fully consolidated and no fully consolidated company holdings);
- country-by-country reporting (including revenues, capital expenditure and tax payments).
Eni reached an excellent score, particularly with respect to transparency of anti-corruption programs and was ranked as best performer in organizational transparency thanks to the disclosure of full lists of company holdings, including Countries of operations and of incorporation and the percentages of ownership. The evaluation obtained – significantly increased compared to the 33rd place in the previous research – represents an appreciation of Eni’s efforts to improve transparency in corporate reporting, in addition to meet the requirements set by Transparency International. Eni was also best performer research on transparency in corporate reporting conducted by the Italian Chapter of Transparency International in 2013, among a sample of 15 major Italian companies.