As a community participation company, W.E.B is particularly conscious of its obligation to ensure responsible and transparent corporate governance.
Since mid-2006, WEB Windenergie AG has been committed to compliance with the Austrian Code of Corporate Governance (ÖCGK). This code has been adopted with certain provisos and clarifications, which are published each year in the company’s annual report.
The ÖCGK was essentially created as a rulebook for listed companies in Austria, designed to complement and expand the statutory provisions of Austrian legislation concerning stock corporations (Aktiengesetz) and capital markets (Kapitalmarktgesetz) to provide additional rules for self-regulation. Unlisted stock companies are free to apply the Code if they wish to do so.
The aim of the ÖCGK is to ensure responsible corporate governance and control oriented towards long-term added value. This is achieved by means of comprehensive regulations on transparency and internal organization.
For WEB Windenergie AG, the Code is an essential building block to reinforce the confidence of shareholders, business partners, employees and the general public in our company.
The current edition of the ÖCGK can be found at www.corporate-governance.at.
The rules of the ÖCGK are classified according to different degrees of obligation:
Rules are based on mandatory statutory provisions
Rules must be adhered to, and any deviation must be explained and justified
Recommendations, are not binding, and non-adherence need not be revealed or justified.