We strive for the highest standards in corporate governance.
We continually develop and publish acceptable standards for corporate governance. Some of the most influential are set out in the 'Combined Code', which is published by the London Stock Exchange and outlines the 'Principles of Good Governance' and a 'Code of Best Practice' that are applicable to listed companies.
As a subsidiary of EDF Group, EDF Energy is not listed on the London Stock Exchange and so we are not obliged by law to comply with Stock Exchange rules, or to adopt the same standards as listed companies. However, we do always seek to operate to the highest standards, so we have voluntarily embraced the principles underlying many of these standards, including the Combined Code and the Turnbull Guidelines on risk management.
Declaration relating to the Political Parties, Elections and Referendums Act
It has always been EDF Energy's policy not to make cash donations to any political party. This policy will continue.
However, changes to the law introduced by the Political Parties, Elections and Referendums Act 2000 have extended the definitions of donations and EU political expenditure to the extent that they cover activities which form part of normal relationships between companies and the political machinery, but which would not be thought of as either political donations or expenditure in the ordinary sense of those words.
This includes activities undertaken by EDF Energy, such as sponsoring receptions at the parties' annual conferences. These activities are not designed to support or influence support for any particular party.