At Dominion Energy, everything starts with clear values. Doing the right thing is a constant thread woven throughout the fabric of our culture — one that we keep front of mind through intentional effort. Maintaining the trust of investors, customers, regulators, and other stakeholders is crucial. We know actions speak louder than words, so we deliver on our commitments.
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What you should know
Our company is driven by five core values: Safety, Ethics, Excellence, Embrace Change, and One Dominion Energy.
Our values are not just slogans on a wall; we live them every day.
We have rigorous systems in place to ensure compliance with laws and regulations.
When we fall short of our high standards, we are usually the first to say so — and we remedy our shortcomings.
Five core values guide the people of Dominion Energy: Safety, Ethics, Excellence, Embrace Change, and One Dominion Energy — our term for teamwork. These values define who we are. They form the basis of our company culture, set the course for our actions, align our culture and strategy, and create the environment for long-term success.
We reinforce these values through management tone and oversight that start at the top. New employees learn them on day one. They are continually modeled and reinforced throughout the company and throughout everyone’s career. For example, we begin meetings with a safety message; our employees coach one another on safe work habits; and incentive compensation is contingent upon company-wide safety performance.
Our Values in Brief
Safety is our highest priority — in the workplace and in the community. The work we do can be dangerous. So our first and fundamental goal is to send every employee home safe and sound, every day. That is the only acceptable standard of performance.
Integrity, individual responsibility, and accountability go hand-in-hand with bottom-line results. We cannot and will not take shortcuts to achieve our goals and fulfill our obligations to stakeholders. Ethical behavior matters, and our reputation depends on it.
We set high performance standards and are committed to continuous improvement in all areas of our business. The odds of long-term success improve when we go beyond “good” and strive for “great.” Our aim is not to be the biggest energy company, just the best.
Transformation and growth are the keys to long-term prosperity. A culture of receptivity to change and passion for innovation propels our company forward, ensuring that our stakeholders will continue to flourish and that our best days still lie ahead.
One Dominion Energy
It’s about teamwork. It is a unifying outlook that transcends organizational boundaries and focuses on our shared mission and purpose. We know that strong, sustainable performance depends on how well we support one another in executing our business plan.
Each of these values plays an integral role in sustainability — by safeguarding the health and welfare of our employees, communities, and environment; fostering trust between Dominion Energy and others; and ensuring that the company uses innovative strategies to safeguard the well-being of all our stakeholders, today and long into the future.
Values in Action
Naming your values does little good if you don’t also live them. At Dominion Energy, we take our values down off the wall and put them into action. Here are just a few of many examples from 2019.
In 2019, Dominion Energy reported an OSHA-recordable injury rate of 0.62 — a record-setting performance. That still equates to 128 workplace injuries, which is 128 too many: We will not rest until we reach and maintain zero. Some of our business units have done that: Dominion Energy West Virginia went 34 months without an OSHA-recordable incident, and our Ben’s Run gas distribution office in Tyler County, W.Va., has gone 17 years without an OSHA-recordable incident. Dominion Energy South Carolina achieved a historically low OSHA rate of 0.54, despite the distractions created by integrating the former SCANA into our business. For our electric school bus program, we insisted upon safety belts in new buses even though they are not required by law.
“Doing the right thing” covers a lot of ground. For example, each of our power generating stations performed a sustainability project in 2019, and every major generation construction project was reviewed for environmental-justice concerns. And for the second consecutive year, the nonpartisan Center for Political Accountability and the Zicklin Center for Business Ethics Research at the University of Pennsylvania recognized Dominion Energy as a Trendsetter — the top level for leadership in political disclosure and accountability.
Elsewhere in this report, you will find a section listing various awards the company has won — for everything from our diversity efforts to our storm response. We don’t do anything just for applause, but we are grateful when external validation confirms that our hard work is producing palpable results.
Among the awards the company received in 2019 was Engineering Project of the Year from S&P Global Platts for our Greensville Power Station in Virginia.
Internally, we also recognize employee innovation with the Chairman’s Excellence Awards, which honor teams and individuals that use ingenuity and creativity to enhance the work we do every day.
Two thousand and nineteen proved to be a transformative year for Dominion Energy. We made vast changes to our generation fleet; implemented a series of exciting new clean-energy innovations; and launched a smart-home and security service. We are using sprint teams to explore emerging technologies and business models. After our Ohio and West Virginia operations piloted an Innovation Accelerator program that helped move ideas from conception to execution in 2018, the program was expanded in 2019, and Innovation Accelerators gathered for a summit during our 2019 Innovation Expo. These forward-thinking steps have positioned us well to embrace the additional changes we will be making as a result of the Virginia Clean Economy Act, legislation passed by the 2020 General Assembly aimed at reducing greenhouse-gas emissions over the next three decades, as well as those that will follow from the pending sale of substantially all of our gas transmission and storage business that was announced in July of 2020.
One Dominion Energy
On January 1, 2019, Dominion Energy and SCANA Corporation completed their proposed merger. In the time since, we have continued the work of integration, adopting the best of both companies to make the combined whole that much stronger. More than 200 change agents fanned across the company to support systems migration, and more than 140 workshops took place to consolidate information technology. We employ cross-functional sprint teams to explore the business opportunities of emerging technologies; the teams break down organizational silos and come from all areas of the enterprise.
Ethics & Compliance
Dominion Energy will always follow the laws and regulations that govern our industry. After all, compliance is important and necessary — but we never consider it sufficient. A commitment to strong values is imperative. To reinforce that commitment, employees complete annual training in ethics and compliance. Employees also certify annually that any potential compliance items have been reported or are being addressed.
Dominion Energy maintains a comprehensive Ethics and Compliance Program to uphold the expectation that our leaders, employees, and suppliers act with integrity, respect, and good judgment — and in compliance with the law. Our Ethics and Compliance Program defines responsibilities through the Code of Ethics and Business Conduct, provides resources and, when necessary, administers disciplinary action. The program has the following key elements.
The Board of Directors oversees the Ethics and Compliance Program through its Audit Committee. To oversee and support an enterprise-wide approach to managing critical compliance matters, the company’s chief compliance officer has established a Compliance Council. Its members are senior officers representing our business units and key areas of responsibility. Additionally, the Ethics and Compliance team members work along with the Law Department, Regulatory Compliance, Corporate Security, and Human Resources to ensure that Dominion Energy follows all applicable laws, regulations, and company policies, and maintains high ethical standards in its business activities.
All employees, officers, and Board members receive annual training on the company’s Code of Ethics and Business Conduct. New hires also receive this training. In addition, other interactive ethics and compliance training and education events are made available to leaders and employees throughout the year. The code requires employees to know and comply with all regulatory requirements that apply to their business areas. Those affected by various regulatory requirements receive training on federal and state codes and standards of conduct, and other applicable regulations. Compliance-related training is targeted to the appropriate audiences and provides processes for employees to ask questions and seek additional guidance when needed.
Advice and Guidance
The Ethics and Compliance Program receives numerous questions from employees seeking advice on ethical matters. Since a variety of scenarios can raise questions of ethical conduct, we encourage employees to ask whenever they are unsure about a situation, to avoid even the perception of a conflict of interest. Employees may, and do, use a dedicated email account to ask questions or seek guidance about ethical concerns and compliance issues.
Reporting and Addressing Concerns
Employees have a duty to report any concerns whenever they suspect noncompliance, misconduct, or illegality. In all cases, retaliation for good-faith reporting is strictly prohibited. We provide a variety of reporting options, including a dedicated, confidential compliance telephone line and website that allow employees who wish to remain anonymous the ability to do so. Employees also may report concerns by contacting the ethics and compliance staff and other appropriate personnel. Each year, we survey employees to help identify and address potential compliance concerns.
Dominion Energy stakeholders can report concerns by contacting the compliance line or by communicating directly with independent members of the Board of Directors. We categorize reported concerns by type of allegation to facilitate investigation by appropriate company representatives and review every question and concern to determine if it is covered under the Ethics and Compliance Program. This also promotes our ability to identify, monitor, and address any trends by category of allegation. A compliance attorney oversees all ethics and compliance investigations. Questions and concerns that raise ethical or compliance issues are investigated and resolved under the guidance of the program.
Supplier Code of Ethics and Business Conduct
Dominion Energy expects all suppliers to share our commitment to ethics and compliance. Our Supplier Code of Ethics and Business Conduct outlines these minimum expectations, including in the areas of human labor practices, responsible sourcing, and the health and safety of suppliers’ employees. The code’s main purpose is to promote lawful and ethical behavior in all of our business dealings.
In addition, we expect our suppliers to follow our company’s guidelines in other important areas, including:
- Ethics and compliance;
- Health and safety;
- Human rights;
- Supplier diversity;
- Conflicts of interest;
- Business courtesies;
- Accounting and financial reporting;
- Regulatory requirements;
- Insider Trading;
- Environmental compliance and stewardship;
- International business conduct;
- Protection and proper use of Dominion Energy assets; and
Dominion Energy bears a responsibility to a wide range of stakeholders. Those include our shareholders — the company’s owners — as well as our employees, customers, contractors, and retirees.
These and other stakeholders depend on the company’s long-term stability for their financial security. The decisions of local, state, and federal policymakers can affect our company’s operations immensely, so we owe it to our stakeholders to stay abreast of political and policy developments that could affect the company’s fiscal health, and to exercise the constitutional right to petition government on our own and their behalf.
Some of the company’s employees want to do even more. So Dominion Energy also operates a political action committee, or PAC. Participation is strictly voluntary and nonpartisan. Membership is open to eligible employees, the Board of Directors, and shareholders. The PAC aims to articulate the company’s views at all levels of the political process.
In the interest of transparency, every year we voluntarily report the corporate political contributions we make to tax-exempt 527 and 501(c)(4) organizations, as well as the lobbying portion of trade association payments and dues. In addition, we disclose our political contributions on the website of the Federal Election Commission and the electoral board website of the states in which we contribute to state and local elections. Because of such efforts, the Center for Political Accountability recognized Dominion Energy as a trendsetter for transparency and transparency and disclosure with regard to political contributions.