CORPORATE GOVERNANCE
At GECELCA, we are committed to the integration and application of the best corporate governance practices.
We uphold business ethics and management efficiency, thus generating greater trust among our stakeholders and more competitiveness. We have clear transparency policies, which is evidenced in our permanent disclosure of business information, the setup of communication channels, and easy access to useful data of interest to the public.
COLLECTIVE ACTION OF THE ELECTRICITY SECTOR
GECELCA encourages and promotes ethics and transparency in all activities and operations carried out by the company.
Therefore, and in order to strengthen ethical management, in 2017 it joined the Collective Action of the Electricity Sector.
It is an initiative undertaken by a group of independent companies and institutions that voluntarily joined forces to achieve a common and agreed objective. This joint effort allows fighting corruption from and for the Colombian electricity sector.
The Ethics and Transparency Collective Action is based on an environment of best practices that promotes the creation of transparency standards and provides a level playing field. The scope of the Collective Action is defined by the participants themselves and aims to take an additional step beyond what is strictly required by the regulations.
- Advance in the development and implementation of a comprehensive anti-corruption program, taking as a reference the “Business Principles for Countering Bribery”, issued by Transparency International.
- To continue promoting healthy competition in the electricity sector, taking as a reference good corporate governance practices for the prevention of restrictions to free competition.
- To build and disclose, within the company, a risk map of corruption, anti-competitive practices and money laundering and terrorist financing, including the pertinent management measures, as well as to contribute to the elaboration of the sectorial risk map.
- To provide useful information to promote transparency in the energy sector and the energy market in Colombia.
- Disseminate this agreement within each company, including their Boards of Directors, and also with the different stakeholders of the Electricity Sector.
Members of Collective Action
OUR PARTNERS
Technical secretary
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CORPORATE CONTROL SYSTEM
The main objective of GECELCA’s Internal Control System is to contribute to the fulfillment of the corporate goals.
It defines the standards of conduct and performance at all levels of the organization, gives feedback on the operation of the business, and provides reasonable assurance on proper risk management. The Internal Control System is designed to provide a reasonable degree of assurance regarding the achievement of objectives with respect to the following:
- Operational efficiency and effectiveness
- Reliability of financial reporting
- Asset protection
- Compliance with applicable regulations
