The Chairman of IBERDROLA, Ignacio Galán, called for the need to integrate ethics at every level of company management, including all relationships, activities, processes and decisions, "until it becomes an essential part of the business model and corporate culture". 

Mr. Galán spoke the closing words at the Seminar on Ethics and Leadership organised today by the company in collaboration with the Spanish Centre for National Defence Studies (CESEDEN). He was accompanied by the Director of this centre, Lieutenant-General Alfonso de la Rosa and the Chief of Staff of the Spanish Air Forces, Francisco Javier García Arnaiz.

Addressing those in attendance, Mr. Galán emphasised IBERDROLA's commitment to promoting ethical behaviour. In this regard, the company has a corporate governance system in place, which follows the main recommendations from the international markets and the most advanced trends in this area.  He reminded listeners that the company's Code of Ethics "helps promote a culture based on the principle of "zero tolerance" towards unlawful acts and detect when something is not done in an entirely correct manner or in a way that deviates from our patterns of behaviour".

In his opinion, it is not possible for changes to be made in companies without true leadership that transmits values from the top down and which is backed by ethical and responsible policies and practices.

The Chairman of IBERDROLA also stressed the need to inspire "the transformation of our society towards a more sustainable, inclusive and responsible model, in which people and ethical concerns lie at the heart of decisions".  "We have to learn from the mistakes of the past and never forget that the crisis we have been enduring was largely caused by a decline in moral principles and short-sighted approaches that put immediate success ahead of results that would be sustainable in the long term", he added.

In his opinion, it is necessary "to inculcate in the youngest members of society - even at school - values such as honesty, loyalty, hard work and respect, in order that these may guide them in all aspects of their personal lives and professional careers".  "If corruption is one of the most serious problems concerning the Spanish people, then we have to address this issue as soon as possible at all levels, and also from the base", he explained.

Importance of ethics and leadership

The Chairman of IBERDROLA praised this Seminar, in which the Army and the legal and corporate sectors "have come together to share their vision of two essential aspects in today's society: ethics and leadership".

The seminar commenced with opening speeches by Lieutenant-General and Director of CESEDEN, Alfonso de la Rosa; the General Secretary and Secretary of the Board of Directors of the IBERDROLA Group, Julián Martínez-Simancas; and the Director of the Seminar and Professor of Constitutional Law at Universidad Autónoma de Madrid, Manuel Aragón. This was followed by the first discussion panel on "Ethics and Social Exemplarity", featuring Manuel Aragón; Air Force General and President of the Royal Brotherhood of Veterans of the Armed Forces and Civil Guard, Eduardo González-Gallarza; and essayist and Director of Fundación Juan March, Javier Gomá.

"Ethics and Criminal and Disciplinary Law" was the focal theme of the second discussion panel, which featured a debate by the Spanish Attorney-General, Eduardo Torres-Dulce; Military General Counsel and General Legal Advisor to Defence, Juan Manual García Labajo; and Professor of Sociology José Juan Toharia from Universidad Autónoma de Madrid.

The third panel on "Ethics and the Exercise of Managerial and Supervisory Powers" featured the participation of the General Secretary of Spanish Stock Exchanges and Markets, Luis María Cazorla; Artillery Brigadier General Luis Feliú; and Admiral and Chief-of-Staff of the Fleet, Marcial Gamboa.

Commitment to ethics and good governance

IBERDROLA has been announced as one of the most ethical companies in the world, according to the 2014 World's Most Ethical Company ranking drawn up by the Ethisphere Institute, which acknowledges organisations that are committed to ethical leadership and behaviour at corporate level.

IBERDROLA has also been selected for the second time as the Spanish company with the best corporate governance practices, according to the World Finance publication at the Corporate Governance Awards.

The company also leads the IBEX 35 in terms of corporate governance, according to the research project The influence of corporate governance on the reputation of Spanish listed companies , which was published in the Annual Report Corporate Communication and Management of Intangible Assets in Spain and Latin America , drawn up by Villafañe & Asociados.

In 2012, the Board of Directors of IBERDROLA decided to strengthen the Group's compliance framework, as part of its will to make ongoing progress in implementing the best good governance practices according to the highest international standards in the field of business ethics.

In this regard, the company set up a Compliance Unit, a permanent internal organisation linked to the Corporate Social Responsibility Committee, the members of which are appointed by the Board of Directors. The new regulation grants this Unit a broad role in relation to the application of the Code of Ethics and the Crime and Fraud Prevention Policy.

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