The B Team is pleased to announce that EDP, a Portugal-headquartered energy utility mainly focused on the generation, transmission, distribution, and supply of electricity - and present in four regional hubs (APAC, North America, Europe, and South America) - is endorsing The B Team Responsible Tax Principles.

By joining this dynamic and expanding group of companies, EDP reaffirms its commitment to responsible tax practices as a key pillar of ethical and sustainable business operations. Embracing the Responsible Tax Principles strengthens EDP’s dedication to fairness, transparency and accountability, while contributing to the development of a more sustainable and equitable global tax system.

“EDP recognizes that the sustainability of our operations is closely tied to our responsibility for the social and economic development of the countries in which we operate,” said Rui Teixeira, EDP’s chief financial officer. “Taxes play a fundamental role in this contribution, directly supporting the well-being of local communities. For this reason, the Group has defined a tax policy grounded in the responsible payment of taxes, strong adherence to ethical tax practices, transparent communication with our stakeholders, and the fostering of cooperative relationships with governmental bodies.”

As part of this commitment, EDP has announced a significant step toward greater tax transparency. In 2025, EDP Group will publish an inaugural Global Tax Footprint Report, providing a comprehensive breakdown of all tax contributions made by the company across the countries in which it operates, for the fiscal year 2024. This new report - which will be published annually - reflects EDP's commitment to proactive, transparent, and cooperative engagement with tax authorities and other stakeholders.

EDP’s endorsement highlights the vital role of responsible tax practices in building a resilient, accountable, and sustainable business model. “Transparency and accountability are fortunately no longer considered a ‘nice-to-have’ by stakeholders. They are becoming essential. Stakeholders increasingly expect businesses to communicate how they navigate the tax environment, manage their tax responsibilities, and contribute to society through taxation”, added Rui Teixeira.

EDP representatives will participate in The B Team’s Responsible Tax Working Group, further driving discussions and best practices in responsible taxation.

The B Team encourages others to follow the leadership example set by EDP by endorsing the Responsible Tax Principles. To learn more about The B Team, the Principles and how you can join this movement, see here or email ResponsibleTax@bteam.org.

About The B Team Responsible Tax Principles

Developed by multinational businesses with input from civil society, investors and representatives from international institutions, The B Team Responsible Tax Principles were launched at the Tax & SDG Conference at the United Nations Headquarters in New York in February 2018. The B Team Responsible Tax Principles are intended as a blueprint, designed to raise the bar on how businesses approach tax. They are the first consolidated effort from a group of cross-sector, cross-regional companies to articulate best practice in seven key areas of tax, from corporate governance to relationships with authorities to transparency.