Ignitis Group recognised as sustainability and governance leader

Date
25 November 2021
Category
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  • Governance Coordination Centre awarded Ignitis Group the highest governance rating in the category of large-sized state-owned enterprises and recognised the Group as sustainability leader.
  • The Group has been holding the leading position in the Good Corporate Governance Index for several years now.
  • Ignitis Group received the highest possible rating of ‘A+’ in transparency, collegial bodies and strategic planning and target achievement.

Ignitis Group was recognised as sustainability leader and the best governed company in the category of large-sized state-owned enterprises in the Good Corporate Governance Index conducted by Governance Coordination Centre (GCC) every year. The governance of the international energy company has been receiving highest index ratings for several years in a row – in 2020 it was ranked highest among state-owned enterprises (SOEs).

In 2020–2021 Good Corporate Governance Index Ignitis Group received the highest rating of ‘A+’ in the category of large-sized SOEs and received a separate award for leading in sustainability. The highest governance rating was received after evaluating three corporate governance dimensions – transparency, collegial bodies and strategic planning and target achievement. After their evaluation, Ignitis Group received the highest possible rating of ‘A+’ – the same as last year.

“Good corporate governance solutions and sustainability principles are an integral part of Ignitis Group’s activities, they are also engrained in the long-term strategy of the company. Every day, we, more than 3,800 colleagues at the Group, are constantly improving our operations in pursuit of long-term strategic goals. We are delighted that the results of our efforts are also recognised in the Good Corporate Governance Index – it also obligates us to maintain governance leadership”, said Darius Maikštėnas, CEO at Ignitis Group.

Ignitis Group is highly rated in the GCC report for independence, competences, functions of its collegial bodies and active committees. Ignitis Group also received the highest rating for, among other areas, anti-corruption, strategic planning, strategy implementation and monitoring, SOE target achievement.

Energijos Skirstymo Operatorius (ESO), a subsidiary of Ignitis Group, was also recognised for its good governance principles. It was recognised for the second year in a row as a subsidiary company of a SOE that complies with the applicable good governance principles the best. This year all governance areas, from transparency to collegial bodies and strategic planning practices, of ESO received a positive rating in the governance index.

The Good Corporate Governance Index has been conducted since 2012 and is the most widely used tool for measuring the governance quality of state-owned enterprises. GCC states that its objective is to evaluate and measure how the companies implement key good corporate governance principles.