KNOXVILLE, TN – The Tennessee Valley Authority announced today that it is the first Federal agency to earn the coveted Compliance Leader Verification (CLV) from Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This verification validates TVA’s government-leading efforts to build an organization that is transparent with a best-in-class ethics and compliance program.
“Earning the Compliance Leader Verification designation is a high honor,” said David Fountain, TVA Executive Vice President and General Counsel. “More importantly, CLV demonstrates that TVA is fostering a culture of ethics and integrity that builds public trust as we serve the 10 million people of the Tennessee Valley.”
The CLV process involves a rigorous review of an ethics and compliance program and corporate culture. To earn the recognition, Ethisphere evaluated TVA’s performance on six key areas: program resources and structure; perceptions of ethical culture; written standards; training and communication; risk assessment, monitoring and auditing; and enforcement, discipline, and incentives.
Erica Salmon Byrne, President, Ethisphere
“Congratulations to the Tennessee Valley Authority, the nation’s first federal agency to earn Compliance Leader Verification,” said Erica Salmon Byrne, President, Ethisphere. “We were particularly impressed with the program’s strong executive support, and its focus on continual improvement. We applaud the agency’s commitment to integrity.”
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.
About Ethisphere
Ethisphere® is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine.
Media Release/Scott Fiedler, TVA Media Relations
