Governance

Fluvius and its shareholders operate in a context where a significant part of its activities are strictly regulated. On the one hand, Fluvius' remit stems from the missions of general interest transferred by the shareholders. This is via 11 'grid operators': mandated associations which together own 100% of Fluvius.

On the other hand, our missions come from the powers and obligations entrusted by the Flemish legislator via legislation. And of course, international, European and federal regulations and conventions also apply.

Fluvius' operations on the Flemish electricity and gas market are supervised by the independent Flemish energy regulator VREG, and the Flemish Environment Agency (VMM).

As an energy and utility company, sustainability in the broad sense is woven into our strategy and our core business. Discover our commitments to sustainable working here.

Fluvius System Operator strives to embody the principles of corporate governance at all times. The Belgian Corporate Governance Codes for listed and unlisted companies serve as the benchmark for the quality of corporate governance.

These two texts were the inspiration for Fluvius System Operator's own Corporate Governance Charter, which was approved by the Board of Directors on 17 June 2021. Like the two codes mentioned above, the Fluvius Charter is based on striking a balance between entrepreneurship and oversight, and between performance and compliance. 
Consult the Charter here.

The Board of Directors of Fluvius System Operator ensures that the Corporate Governance Charter is correct and complete. They also adapt the Charter when the policy on corporate governance changes or when new rules and guidelines are issued.

The new European Corporate Sustainability Reporting Directive (CSRD) requires organisations to conduct a double materiality assessment. Through this approach, sustainability is looked at from two perspectives: the 'impact' materiality, or how does a company impact the environment and society; and the 'financial' materiality (which financial impact sustainability topics have on a company). Fluvius has prepared its annual report in accordance with the new CSRD guidelines since financial year 2024. You can already find out about the results of our recent double materiality assessment, as we continue our commitment to a sustainable future.

We are committed to the principle of acting with integrity and corporate social responsibility towards our suppliers and contractors as well.
See also our Supplier Code of Conduct.

The energy landscape is changing dramatically. More and more households and businesses are switching from fossil fuels to green energy through solar panels, heat pumps and electric vehicles. We are also feeling the impact of climate change. That means we need to respond to a climate with extreme outliers: more intense rainfall and longer periods of drought. The energy transition and climate adaptation are essential to ensuring a high quality of life in in Flanders. As a grid operator, Fluvius wants to play a leading role in this regard.

We cannot achieve these transitions alone. In addition to the many partners building the grids for tomorrow with us, we need a supportive policy and regulatory framework. This memorandum explains how we can take further steps in this regard and which conditions need to be met.