Ignalina Nuclear Power Plant receives highest rating - A+

The Ignalina Nuclear Power Plant (the INPP) has been awarded the highest score in the Good Governance Index - A+. The INPP received the highest rating for the first time in 2022/23, following an analysis of the Annual Report 2022, the Sustainability Report, an assessment of the work of the collegiate management body - the Board of Directors, strategic planning and implementation, and other parameters. Last year, the INPP‘s governance was given a solid A grade.

The INPP has set itself the objective of consistently improving governance in its operational strategy. The aim was to achieve a minimum rating of A in 2021 and beyond, to achieve and maintain the highest rating of A+ from 2024 onwards. Improvement measures were already put in place last year, which enabled a concerted effort to achieve the target a year earlier.

"To begin with, I would like to congratulate all the employees of the enterprise who, through their consistent work, have contributed to the improvement of corporate governance. I must also thank the professional Board of Directors and the owner, the Ministry of Energy, for taking appropriate and prompt decisions. And now we must await the detailed report on good governance and see where we can improve further to maintain the A+ rating. The coming year will be full of challenges, such as the transformation from a state-owned company to a public limited company, the election of new board members and the implementation of sustainability and non-financial disclosure requirements. We are on the right track, and we have to prove by our actions that we deserve to be in the club of best-managed state-owned companies," said Linas Baužys, CEO of the INPP, after the event.

" First of all, it is very pleasing that we received an A+ in two categories - strategic planning and collegial bodies. I think this reflects the maturity of the enterprise as a whole. On the other hand, the GCC places great emphasis on the development of sustainable practices in state-owned enterprises, which encourages all organisations to move upwards. The compilers of the index noted that there is still a lack of progress in sustainability, so we will be focusing a lot on this area in the coming years," said Donatas Juodpusis, Head of Sustainable Development, who attended the event.

The Governance Coordination Centre (hereinafter referred to as "GCC"), in order to ensure the effective management of state-owned companies and to promote the implementation of good governance practices, reviews and submits an annual report on the implementation of the recommendations of the Organisation for Economic Co-operation and Development (OECD), the Regulations on State-Owned Enterprises adopted by the Government of the Republic of Lithuania, as well as on implementation of other good governance practices in state-owned companies.