Conflict of interest policy
Conflict of Interest Management Policy for Open Energy Transition (OET)
Policy Statement: Open Energy Transition (OET) is committed to maintaining the highest standards of integrity and transparency. To uphold these standards, all employees, contractors, and partners must avoid conflicts of interest that could compromise the organization's mission, integrity, and reputation.
Scope: This policy applies to all employees, contractors, and partners of OET.
Version: 1.0
Last updated: July 2024
Conflict of Interest Management Processes
- Identification:
- Disclosure Requirement: All team members must disclose any personal, financial, or other interests that might conflict with their duties at OET.
- Regular Updates: Disclosures must be updated annually and whenever a new potential conflict arises (e.g., with new clients, new projects, or when OET employees become involved financially with existing or new clients of OET)
- Assessment:
- Review Committee: A designated Review Committee will assess disclosed conflicts of interest.
- The Review Committee will be composed of two members of the core administrative team of OET.
- Alternatively, Project Managers can also be brought in to review and resolve the case.
- This would only apply in cases where two members of the core administrative team are not available to review the case and/or have limitations in terms of confidentiality or conflict of interest.
- The Review Committee will be composed of two members of the core administrative team of OET.
- Evaluation Criteria: The committee will evaluate the potential impact of the conflict on OET's integrity and operations. The Committee will consider the following evaluation criteria:
- Potential Impact on Decision-Making:
- Influence on Professional Judgment
- Extent of Influence:
- Reputation and Trust:
- Perception of Bias
- Stakeholder Confidence
- Organizational Resources and Interests:
- Resource Allocation
- Alignment with OET’s Goals
- Other evaluation criteria deemed appropriate by the Review Committee
- Potential Impact on Decision-Making:
- Review Committee: A designated Review Committee will assess disclosed conflicts of interest.
- Mitigation:
- Conflict Resolution Plan: Develop a plan to mitigate identified conflicts, which may include reassigning duties, divesting conflicting interests, or other appropriate actions.
- Approval and Documentation: The conflict resolution plan must be approved by the review committee and documented.
- Monitoring:
- Ongoing Oversight: The review committee will monitor compliance with the conflict resolution plan.
- Enforcement:
- Consequences for Non-Compliance: Non-compliance with this policy may result in disciplinary actions, including termination of employment or contracts.
- Appeal Process: Individuals who disagree with the conflict resolution plan or disciplinary actions can appeal these decisions.
- This appeal will be reviewed by a separate Review Committee composed of individuals qualified to be in the Review Committee but that did not participate in the initial Assessment.
- Training:
- Resources: Provide resources and support for team members to understand and comply with the policy.
By following this policy and these processes, OET aims to maintain an ethical work environment, ensuring that all decisions and actions are made in the best interest of the organization and its mission.
Approved by: Victor Martinez Title: Head of Operations and Strategy Version: v1.0 Date: 15 August 2024