Ethics Program Overview
At Duke Energy, we’re committed to conducting business with honesty and integrity. Our company’s corporate ethics program promotes and enforces making the right decisions, from how we manage our financial statements and business practices to individual workplace behaviors. Ethics and personal integrity are cornerstones of how we do business.
Electric utilities are one of the nation’s most heavily regulated industries, governed by complex laws and regulations. Regulators, elected officials, community leaders, customers, competitors, investors, the news media and advocacy groups all pay close attention to what we do and how we do it – and we strive to maintain trust and confidence from all these groups. A key part of maintaining that confidence is building and sustaining a culture that promotes accountability, transparency, high performance and a sense of pride among employees.
The foundation of the Duke Energy Ethics Office is the Code of Business Ethics (CoBE), which identifies principles and standards of conduct that all employees are expected to follow. Ethical expectations for suppliers of products and services are set in the Duke Energy Supplier Code of Business Ethics; our board members adhere to the Code of Conduct for Members of the Duke Energy Board of Directors.
The Audit Committee of the board of directors exercises oversight with respect to the implementation and effectiveness of the program. Senior management promotes a culture that encourages ethical conduct and compliance with all applicable laws, rules and regulations. The chief ethics and compliance officer is responsible for the program’s effectiveness for preventing and detecting illegal or unethical conduct, supporting Duke Energy’s business values, and reinforcing ethical behavior through the CoBE, related training and communications.
Employees and contractors are encouraged to report suspected wrongdoing and may do so anonymously without fear of reprisal through an independent third party, which provides a 24-hour telephone line and an online reporting option. The Audit Committee is apprised of any allegations targeting senior management or complaints of fraud, accounting and internal controls, or auditing matters that relate to the fair and accurate presentation of information in our financial statements.
All allegations are investigated to ensure consistent enforcement. When violations are detected, appropriate measures to respond and prevent further similar offenses are taken including disciplinary action and enhanced controls.
Behaviors, as well as results, matter in our company. We hold ourselves and our business partners to high standards of ethical conduct and remain committed to doing the right things – big and small – every day.