Corporate Governance

Highly and Widely Recognized

According to the Governance Index published by the Governance Coordination Centre, Ignitis Group is among the best governed state-owned enterprises in Lithuania, with the highest-possible (A+) rating.

Ignitis Group’s governance structure and model take into account the latest international and national practices, the recommendations of the Organisation for Economic Co-operation and Development (OECD), the NASDAQ Vilnius exchange corporate governance code for listed companies, and the Guidance on the Governance of Government-owned Enterprises issued by the Baltic Institute of Corporate Governance.

The Group’s governance is based on the Guidelines for the Corporate Governance of State-Owned Energy Groups, approved by the Minister of Finance. Letter from the Ministry of Finance presents the expectations of the State, the shareholder of Ignitis Group, for its activities and priorities. 

Governance Guidelines Letter of expectations

Principles of Ignitis Group’s corporate governance:

  • Conditions for effective corporate governance. The setting in which the Group and its individual companies operate should promote transparent activities in the market and compliance with the law, and should ensure the separation of management, supervisory and regulatory functions.
  • Exercise of shareholders’ rights. Possibilities for exercising the property and non-property rights arising from the ownership of shares shall be safeguarded and the interests of minority shareholders shall be upheld.
  • Stakeholders’ role. The expectations and rights of stakeholders arising from agreements or legal regulation shall be recognized and active collaboration for the creation of sustainable value added shall be encouraged.
  • Openness and transparency. Timely and accurate disclosure of information about the Group should be ensured.
  • Responsibility and accountability of management and supervisory bodies. The management and supervisory bodies of the Group and its companies shall be required to properly perform their functions and be accountable to shareholders.

Group’s governance principles and model aim at the assessment and harmonization of stakeholders’ interests and their translation into measurable targets and indicators.