Redinter, a subsidiary of Redeia, wishes to promote a culture of ethical conduct and compliance entailing observance of the applicable law and the commitments voluntarily assumed by the Company, along with adaptation to best practices in the field of compliance.
Redeia therefore has a Code of Ethics and Conduct which contains the ethical values and principles to be followed. It formalizes our commitment to ethics and serves as the fundamental standard that connects us to our stakeholders.
In accordance with the stipulations in the Code of Ethics and Conduct, Redeia offers our stakeholders an Ethics and Compliance Channel through which they can raise any query or report any breach of the Code, law, internal regulations or the commitments accepted by the organization.
The Ethics and Compliance Channel is a reporting system that Redeia makes available to report any breach of the regulations for preventing crime, established by Law 20,393 of 2009.
The reinforcement of the compliance function is one of the priorities of Redeia, due, among other circumstances, to the demands to which the company is exposed by its stakeholders with regard to maintaining a high level of service excellence and the highest ethical standards when doing business. It is also due to Redeia’s growing territorial diversification and the gradual expansion of its perimeter of activities.
Furthermore, Redeia is developing a Criminal Compliance System in Chile that is aligned with the best practices in this area, the goal of which is to serve to prevent the commission of criminal acts on the part of the people subject to it; and to exercise proper control over business activities, thereby complying with the demands considered in the law of Chile (Law 20.393 of 2009 and other supplementary regulations).
The compliance function aims to promote a global and anticipatory vision of compliance risks, including those of criminal law, and ensure an efficient control of such risks, guaranteeing the coordination and standardisation of their management at a corporate level.
The main elements of the Criminal Compliance System are as follows:
- A Manual of the Criminal Compliance System.
- A Compliance Policy.
- Code of Ethics and Conduct.
- An Ethical and Compliance Channel.
- Appointment of a Prevention Supervisor.
- Policies, procedures, and controls to mitigate the criminal risks identified.
- Sufficient human, and material resources for the appropriate and effective functioning of the Criminal Compliance System.
- A system for the control, supervision, and verification of the Criminal Compliance System.
- Information and awareness actions.
The Criminal Compliance System applies to the following companies: Red Eléctrica Chile SpA, REDENOR and REDENOR 2, REDESUR, REA, TESUR, TESUR 2, TESUR 3, TESUR 4, REDELNOR, and CCNCM.