Austrian Corporate Governance Code
VERBUND commits to the aims of the Austrian corporate governance code, a responsible form of management targeted at sustainable and long-term value creation, which guarantees monitoring of companies. Additionally, a high degree of transparency for all interested groups should be created.
The Austrian corporate governance code of ethics has now been in operation for over ten years. This corporate governance code of ethics forms a regulation framework for the management and surveillance of companies listed on the stock exchange. From the start, VERBUND has clearly and unmistakably declared that it sees it as its duty to comply with this.
For VERBUND, compliance with the rules of the corporate governance code of ethics is of very high importance. For this reason, we not only feel bound to the L-rules (legal requirement) and C-rules (comply or explain), we also go beyond our obligations and strive to comply with the R-rules (recommendation) included in the corporate governance code of ethics.
The corporate governance code of ethics provides an external evaluation regarding compliance with the C and R rules of the code of ethics in a company and this takes place at least every three years.
You will find more details regarding the implementation and evaluation at VERBUND in the annual corporate governance report.