Ukrenergo follows the best international practices and brings in an independent external provider to receive whistleblowers’ reports on ethical and compliance breaches. Ukrenergo has contracted a specialized company Ethicontrol, which will receive phone calls, emails, and reports regarding Ukrenergo’s ethics and compliance violations, and will ensure whistleblowers’ anonymity.
“An effective whistleblowing hotline is an essential element of the Compliance Programme and one of the most effective tools for detecting and preventing corruption, fraud and unethical behavior. The Ukrenergo external whistleblowing hotline features are: a single entry point for all reports, their automatic registration, no possibility to delete or ignore any reports, as well as external control by the Supervisory Board, ” commented Hlib Bakalov, Ukrenergo’s Compliance Officer.
“We hope that the launch of the whistleblowing hotline and the compliance function overall will benefit the company’s reputation, improve the corporate culture, strengthen Ukrenergo’s efforts to prevent and counteract misconduct, conflicts of interest, non-compliance with laws, policies, and regulations., which is important for our successful integration into ENTSO-E, Vsevolod Kovalchuk, Ukrenergo CEO, stressed.