Governance & management
The Board of Directors of the Parent Company is the body responsible for setting the Group's goals and commitments for sustainability, in addition to assessing risks, opportunities and areas for improvement. It is supporting by the Corporate Governance Social and Environmental Sustainability Committee performs a consultative, recommendatory and preparatory role in favour of the Board regarding the decisions to be taken with respect to the structure of corporate governance rules and social and environmental sustainability issues. It is made up of non-executive directors, most of whom are independent.
Responsibility for sustainability at Group level is attributed to the Group CEO, who is charged with implementing the strategies and policies established by the Board of Directors.
At Group Head Office level, specific bodies and dedicated functions have also been established to ensure we systematically take into account social and environmental aspects related to business activities, as well as economic ones:
- Group Sustainability Committee: Internal body made up of managers who, reporting to the Group CEO, discuss the issues of social and environmental responsibility and the actions to be taken in their respective areas of expertise in order to meet the established goals, monitoring the results over time.
- EMS Review Committee: Internal body that reviews the Group Environmental Management System, which respects the requisites of the ISO 14001 standard.
- Responsible Investment Committee: A cross-functional body that assesses issuing companies that are not aligned with the Group’s environmental, social and governance criteria, and supports the decisions of the Group Chief Investment Officer as regards possible exclusions from the Group’s investment activities.
- Country Sustainability Committee: Bodies active at national level that make it possible to improve the organisation and coordination of activities in the social and environmental sphere.
- Group Social Responsibility: Function that reports to Group Communications and Public Affairs Director and is responsible for:
- defining and implementing the Group social responsibility model through dialogue with the GHO functions and the involvement of the sustainability teams in the countries in which the Group operates. The CSR Community was created to this end in 2016
- reporting on the results as they are achieved.