On February 21, 2019, Vsevolod Kovalchuk, CEO of the State Enterprise “NEC” Ukrenergo “, signed a Memorandum of Partnership with the All-Ukrainian Network of Integrity and Compliance (UNIC or Network), which aims to promote the idea of doing business ethically and responsibly.
Ukrenergo is the first state-owned company in Ukraine to become a UNIC partner. Signing took place during the unveiling of the Compliance Policy and Roadmap for 2019 by Ukrenergo’s Compliance, approved by the company’s Supervisory Board in early February. The company’s main priorities include compliance risk assessment, a new corporate ethics code, a relaunch of the hotline for disclosers, to name a few. The company’s compliance policy was developed with the participation of KPMG, a Big Four audit firm, and consultants from the Belgian company Elia Grid International, based on the best practices of European transmission system operators.
“Workshops and other educational activities on compliance issues conducted by UNIC play a vital role in changing the approaches to doing business in Ukraine. Moreover, participants and network partners also receive methodological and expert assistance in the development of compliance function, which is especially relevant for state companies,” said Hlib Bakalov, Compliance Officer, Commissioner for Implementation of the Anticorruption Programme of SE NPC Ukrenergo.
“We are pleased to welcome Ukrenergo among the first state-owned companies that have expressed their intention to become a UNIC partner, and hoping that this will serve as a positive example for other important market players. The main criterion for approving a partnership is the adherence and commitment to implementing the principles of UNIC in its activities. At the same time, the company must draft an action plan by the end of this year, whose results will provide the basis to consider further membership in the Network “, – comments Anna Gerasimchuk, Head of the UNIC Secretariat.
“One of the goals of Ukrenergo is transparency and efficiency on the way to integrating the Ukrainian network with the energy system of the continental Europe (ENTSO-E). The company consistently implements the best international practices in its activities and focuses on the expertise of top global TSOs. In early November 2018 the newly created Supervisory Board of the State Enterprise NPC Ukrenergo began to operate. And in early 2019, it approved Ukrenergo’s Compliance Policy and the Roadmap for the Compliance Office for 2019. The partnership with UNIC will allow Ukrenergo to strengthen its anti-corruption measures, attract investment into the sector, and strengthen international relations and cooperation,” said Vsevolod Kovalchuk, CEO of SE Ukrenergo.