This committee is an internal body created by the Board of Directors. While it has no executive functions, it has the power to provide information, advising, and make proposals within its scope of action.
It consists of four directors.
The Committee consists of at least three Directors, the majority of which must be Outside Directors. Its members are appointed by the Board of Directors by taking into account the expertise, skills, and experience of the Directors and the duties of the Committee. Members will be appointed for a term of four years. Without prejudice to one or more re-elections, they will be relieved of their duties at the end of the term, when their tenure as a Director ceases, or when agreed by the Board of Directors, subject to a prior report by the Nomination Committee.
The responsibilities of this Committee include, among others, being familiar with and shaping the Group’s policies, objectives, and guidelines on environmental, safety, and social responsibility matters, analyzing and reporting to the Board of Directors on the expectations of the Company’s various stakeholders, and supervising the relations with them.
Moreover, it proposes to the Board of Directors the approval of a Sustainability Policy and reviews and evaluates the management and control systems for non-financial risks.