Governance

Good governance is about both integrity and diligence. Through our Code of Business Conduct and Ethics PDF and our Disclosure Policy PDF, Progress acts to make certain all necessary and appropriate rules and procedures are in place to ensure the honesty and fairness of all our business dealings.

That’s easier said than done. It means working to ensure the highest standards of behavior in:

• Environmental protection;
• Public and employees safety; and,
• All aspects of business conduct.

This includes compliance with all laws and regulations, preventing conflicts of interest and insider trading and protecting the privacy and confidentiality of employee and business-partner information.

Our Code bans abusive or harassing behavior and it encourages employees to consult managers or supervisors whenever any business situation raises ethical concerns. Progress does not allow any retaliatory action should any employee report a possible violation of our code.

“Progress will not take unfair advantage of anyone through illegal conduct, manipulation, concealment, abuse of privileged information, misrepresentation of material facts or other dishonest or unfair practices,” the Code says. 

Our Disclosure Policy acts to make certain that all material developments related to the value of the company and its securities are announced in the most timely and complete fashion and that confidential information is properly protected from disclosure. The policy states that “selective disclosure is not acceptable” and that “unfavourable information will be disclosed just as promptly and completely as favourable information.” 

These are more than good intentions. The Disclosure Committee of Progress Energy monitors all regular and required disclosure statements and all occasional company statements must be submitted to the committee for review before release. Similarly, all employees are required to seek the guidance of the Progress executive and/or Board of Directors in any case that raises questions “about compliance with both the letter and the spirit of applicable laws and policies.”