Stakeholder engagement

Building a relationship based on mutual trust with our stakeholders begins with considering their interests and analyzing their compatibility with those of the Company in order to adopt a consistent and transparent conduct.

In preparing its Code of Ethics, Terna identified – through the active participation of its top executives and top management – eight most significant categories of stakeholders in terms of the continuity of the relationship and of the importance of the Company’s impact on them and vice versa.

For each stakeholder category, the following table shows the most important commitments expressed in the Code of Ethics and the specific engagement instruments, such as monitoring and checking expectations and opinions. The various instruments are used with different time frequencies.

Stakeholders Commitments Instruments for monitoring and checking

Shareholders, financial analysts, and providers of capital
(Shareholders, financial analysts ,providers of capital, banks, creditors, rating agencies)

• Balanced management of financial objectives and of those regarding service security and quality.

• Creation of value for shareholders in the short and long term.

• Corporate governance aligned with the best practices.

• Adoption of systems to prevent and control risks.

• Attention to shareholders and informing them in a timely and equal fashion.

• Commitment to avoiding insider trading.

Road shows, dedicated meetings, website, dedicated e-mails.

Sustainability Rating.

(Employees, Directors, Collaborators, Employee Representatives, Labor Unions)

• Safeguard of the physical integrity of employees and their personal dignity.

• Nondiscrimination and equal opportunities.

• Investment in professional growth.

• Recognition of individual capabilities and merit.

Survey on people satisfaction.

Focus group on specific topics. Consulting, exchanges and negotiations with the Labor Unions.


• Opportunity to compete on the basis of quality and price.

• Transparency and fulfillment of agreements and contractual commitments.

• Transparent procurement processes.

• Supplier qualification, also through quality, environmental and social certification.

• Anti-mafia and anti-money laundering prevention with suppliers.

Procurement portal, direct meetings.

Grid users, customers and business partners
(Private customers, grid users – producers, distributors, traders, interruptible users – users of the electricity system, grid owners, other grid operators, business partners)

• Efficient, quality service aiming at constant improvement.

• No arbitrary discrimination among operators.

• Confidentiality of information regarding grid users.

Consultation Committee on Grid Code, dedicated meetings.

Section “Operator Consulting” in Terna’s website.

Regulatory authorities and institutions - AEEG
(AEEG-Electricity and Gas Authority, other sector regulatory authorities, government bodies with decision-making powers, Antitrust Authority, CONSOB, stock exchange bodies, strike committee)

• Transparent, complete, reliable information.

• Meeting deadlines.

• Fair and collaborative approach to facilitate the regulatory task.

Periodical meetings

Authorities and Associations
(EU and International bodies, National authorities and government representatives, Civil Protection, National Safety Authority and Police forces, regions, provinces and autonomous provinces, associations representing economic interests, ETSO, UCTE)

• Representation of the Company’s interests and positions in a transparent, scrupulous, consistent way, avoiding collusive attitudes.

• Ensuring utmost clarity in relations.

Direct participation in technical committees and in steering bodies.

Media, opinion groups, scientific community
(Media, universities and scientific associations, environmental organizations, consumer associations, opinion makers, opinion groups, national and international technical standardization bodies, political parties)

• Public and widespread dissemination of information.

• Exclusion of exploitation and manipulation of information to the advantage of the Company.

• Pursuit of cooperation areas of mutual interest with associations representing stakeholders.

Presentation and dissemination of the

Sustainability Report and of the Development Plan. Organization of seminars, workshops, targeted surveys.

Collaboration and partnership initiatives.

Society and local communities
(National society; the country, local communities and the environment, end users of the electricity service, local bodies directly affected by Terna’s activities).

• Ensuring security, continuity, quality, and cost-effectiveness of the service over time.

• Assessing the long-term effects of the Company’s choices.

• Reducing the environmental impact of corporate activities.

• Advance dialogue with local authorities to carry out investment that is respectful of the environment, landscape, and local interests.

• Supporting initiatives having a social, humanitarian, and cultural value.

• Providing evidence for the implementation of the environmental and social policy.

Coordination process in planning the electricity grid. Sample surveys of the population.