Management structures for sustainability

ESG Strategic Integration Committee

The integration and monitoring of ESG (Environment, Social, Governance) factors, from strategic planning to the management and monitoring of the Group’s activities, is entrusted to the ESG Strategic Integration Committee, set up to ensure:

  • sharing of scenario analyses for proposing guidelines and policies to integrate sustainability into business strategy and processes, to ensure the creation of value over time for the Group, its shareholders and other stakeholders;
  • analysis of risks/opportunities related to ESG matters;
  • assessment of the implications of national and European guidelines and standards regarding ESG profiles;
  • sharing of environmental and social impact assessments arising from the Group’s activities;
  • analysis of the ESG positioning of Iren Group and proposal of initiatives for improvement;
  • analysis and monitoring of sustainable finance instruments to support the Group’s development strategy;
  • periodic presentation of updates on ESG integration policies at Group level;
  • spreading of the culture of sustainability.

The Committee, which meets at least quarterly, is composed of: Chief Financial Officer, Chief Procurement, Logistics and Services Officer, Manager of CEO Office, Chief Communications Officer, Chief Corporate Social Responsibility and Local Committees Officer, Chief Human Resources Officer, Chief Risk Management Officer, Head of Finance and Credit Policy, Head of Investor Relations and Head of Planning and Control. The Committee is expected to involve the managers of the BUs and other Departments in a targeted manner and ensure the mainstreaming of ESG factors at all Group levels.

 

Sustainable finance committee

The Sustainable Finance Committee operates in conjunction with the ESG Strategic Integration Committee and is responsible for defining the sustainable finance framework, and for carrying out the following tasks:

  • identification and selection of investments, activities and projects considered eligible for access to sustainable finance instruments, based on market standards and national and international frameworks, and which produce a positive and measurable impact in line with the Group’s sustainability strategies;
  • monitoring of the progress of projects/activities financed with sustainable finance instruments;
  • ensuring proper management of the process throughout the duration of the activated loan.

The Sustainable Finance Committee, which has the right of veto in the selection of activities/projects eligible for sustainable finance instruments, is composed of the Chief Financial Officer, Chief Corporate Social Responsibility and Local Committees Officer, Head of Planning and Control, Head of Finance and Credit Policy, Head of Financial Management and Sustainable Finance and Head of Investor Relations.

 

CSR department and local committees

The following tasks are attributed to the Corporate Social Responsibility and Local Committees Department:

  • definition of the sustainability impacts, targets and objectives for the Group’s strategic plans, budgets and finance, in coordination with Strategic Planning, Finance and BUs;
  • definition of sustainability goals for the Group’s MbO and LTI system, in collaboration with Personnel and Strategic Planning;
  • participation in the ESG Strategic Integration Committee and the Sustainable Financing Committee set up to identify, within the Group’s investments, those with a positive environmental and social impact;
  • definition of guidelines, oversight and management of activities for the Group’s non-financial statement pursuant to Legislative Decree 254/2016 and presentation to stakeholders;
  • definition of the improvement plan relevant to the Group Corporate Responsibility;
  • definition of the engagement plan, management and analysis of the results from the dialogue with stakeholders;
  • issue and update of the Code of Ethics, in collaboration with the Internal Audit and Compliance Department;
  • issue and update of the operational Regulations for the Local Committees;
  • establishment and management of the Local Committees and the online platform Irencollabora.it;
  • coordination of projects promoted by the Local Committees;
  • creation of Group customer satisfaction surveys;
  • participation in working tables and initiatives on strategic integration of sustainability;
  • processing and provision of data and information for sustainability ratings.