Supporting Ethical
Business Practices
Our strong business ethics are founded on our corporate values and help us achieve our three principles—safety, operational excellence, and customer experience. We are committed to conducting business with the highest ethical standards. How we do business, how we treat our customers and business partners, and how we treat one another all contribute to how we are perceived by others and, ultimately, to our long-term viability. Our Values in Action Advisor network of 120 employees and our Business Ethics Council with 15 members assist the organization in maintaining a culture of integrity.
Our corporate values are at the heart of our Standards of Business Conduct. Our Standards of Business Conduct explain the behaviors expected of the employees of Con Edison and reinforces our corporate values. Our individual commitment to support and uphold them in every aspect of our work is the foundation of our culture of integrity.
Based on the laws, regulations, and company policies we need to know and follow, our Standards of Business Conduct serve as a framework for ethical decision-making and direct us to the appropriate resources when we need help or more information. For more information, please read our Standards of Business Conduct (coned.com)
Training
The 2022 Standards of Business Conduct training featured small-group sessions discussing real-life work situations that could pose ethical dilemmas. The conversational format allowed participants to learn from one another, practice speaking up, and listen to different points of view.
In 2022, Business Ethics & Compliance raised awareness of ethics-related resources with an online quiz developed to test employees’ knowledge of ethics and compliance, fraud prevention, and cyber security.
Additionally in 2022, Business Ethics & Compliance continued to engage with colleagues to find new ways to keep ethical behavior top of mind:
- Hosted a fireside chat between our Chief Ethics and Compliance Officer (CECO) and the CECO of a major corporation
- Posted company-wide podcasts featuring Business Ethics & Compliance directors on the importance of speaking up and how to protect our data in personal and professional settings
- Provided data privacy tips to protect against identity theft, minimize data loss, and prevent data breaches by encrypting data when appropriate
- Added a video on Accurate Recordkeeping to our library of Ethics Zone microlearning videos to help mitigate identified risks to the company
Privacy Compliance
We are committed to securing the personal and private information entrusted to us by employees, customers, and others. In 2022, the newly-formed Privacy Compliance team designed and began to implement an enhanced Privacy Compliance program. As part of that effort, the Privacy Compliance team strengthened the focus on privacy-related matters in relevant public and internal policies and in guidance for data collection and sharing activities. And, to support our employees’ compliance with data privacy requirements, they provided targeted training and awareness to departments processing personal information.
Quality Management
In 2022, the Quality Center of Excellence worked with Quality Management (QM) teams across the company to develop a QM Framework designed to help improve business processes and increase quality management expertise.
Supporting Ethical Business Practices - Political Contributions
Our engagement in the political process is grounded in and guided by our commitment to our Standards of Business Conduct. Our efforts in this regard meet high ethical standards, are done in accordance with strict company procedures and guidelines, and in a manner that demonstrates accountability and transparency.
Political Contributions
No corporate funds are used directly for political contributions to candidates, political parties, or political committees other than contributions to the Consolidated Edison, Inc. Employees’ Political Action Committee (CEIPAC). No corporate payments have been made, nor do we intend to make payments, to influence the outcome of ballot measures. Additionally, neither Con Edison nor CEIPAC makes independent expenditures in support of or in opposition to, candidates, political parties, or ballot measures. Also, Con Edison does not contribute to “independent expenditure” committees organized under section 527 of the Internal Revenue Code.
Industry Groups and Trade Associations
Con Edison is a member of several trade associations that may engage in political activities or make political contributions to federal and state candidates and political committees. Con Edison’s main purpose of membership in trade associations is the business, technical, and industry benefits these organizations provide. Trade organizations take a wide variety of positions on many political matters, not all of which Con Edison supports.
In 2022, Con Edison paid membership dues in excess of $25,000 to industry groups and trade associations which spent a percentage of those dues on lobbying. See a list of these industry groups and trade associations.
In addition to lobbying, some industry groups and trade associations use a portion of Con Edison’s membership dues for election-related purposes. Con Edison is working to obtain this information and will post it to our Political Engagement site if it becomes available.
For more information on Trade Associations, Industry Groups and Con Edison’s lobbying activities please visit our website.