Standards of Business

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. To learn more, please read our Standards of Business Conduct (coned.com)

Training

The 2023 Standards of Business Conduct training featured an interactive game format where employees visited virtual office locations to identify ethics-related issues. 

In 2023, Business Ethics & Compliance raised awareness of ethics-related resources with an online quiz developed to test employees’ knowledge of ethics and compliance, fraud prevention, privacy compliance, and cyber security.

In 2023, Business Ethics & Compliance also completed a technology upgrade in support of conflicts of interest disclosures providing more in-depth analysis.

Additionally in 2023, 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
• 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 accepting gifts to our library of Ethics Zone microlearning videos to help mitigate identified risks to the company

Compliance Management

In 2023, Compliance Management improved the Company’s compliance posture by focusing on compliance risk and governance:

• Compliance Management worked with business units to identify compliance risks, assess present condition, and develop mitigation strategies. 
• Compliance Management hosted a compliance summit demonstrating effective compliance practices across the organization. 
• Policy Management expanded its use of technology providing efficient change management and improved accessibility of policies and procedures across the company.
• In 2023, the Quality Center of Excellence (QCoE) developed a quality management training program for the quality community geared toward the development of quality management expertise within the company.

Privacy Compliance

 We are committed to securing the personal and private information entrusted to us by employees, customers, and others. In 2023, the Privacy Compliance team continued to implement elements of the Privacy Compliance program and framework. As part of that effort, the Privacy Compliance team enhanced the company’s data classification policy to four sensitivity categories providing training and guidance for appropriate labeling of data. Privacy Compliance partnered with a number of Con Edison organizations to develop appropriate policies, processes, and controls for the use of artificial intelligence, the procurement of third parties who process personal information on Con Edison’s behalf, and the use of tools to collect and honor customer privacy preferences.

Fraud Risk Management

Con Edison has an enterprise-wide fraud risk management program to deter, prevent and detect fraud by raising employee awareness through training and communication, conducting fraud risk assessments and performing fraud data analytics.

For concerns or questions about an ethics and compliance issue, employees can contact the Ethics Helpline anytime.

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. These efforts have earned Con Edison perfect 100% scores on the CPA-Zicklin Index of Corporate Political Disclosure and Accountability every year since 2021.

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 2023, Con Edison paid membership dues in excess of $25,000 to industry groups and trade associations that 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. Included on Con Edison’s Political Engagement website is the information hawse have been able to obtain to date. Additional information will be added should it become available.

For more information on trade associations, industry groups and Con Edison’s lobbying activities please visit our website.

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