INDICATOR: 2-13
Delegation of responsibility for managing impacts
The responsibilities of the Chairman are stipulated by the Articles of Association of the parent company, the relevant law, the delegation of responsibilities in accordance with relevant decision of the Board, and the Code that has been adopted by the parent company, as reflected in the Internal Regulation of the parent company.
The Chief Executive Officer is the higher executive and legal representative of the company and is responsible for all business segments and all of its operations.
The Group Executive Committee
- Formulates the strategy and development plan for the Group’s activities, in the form of mid-term and annual business plans,
- Monitors the course of business of all activities of the Group, through the financial results and KPIs,
- Monitors, informs and coordinates matters affecting the Group’s activities and requires a well-coordinated approach by the entire Management team.
Senior executive meetings define sustainable development issues and agree on the hierarchy of objectives, subsequent activities and reporting of results.
Sustainability constitutes part of executives and employees’ daily activities. For example, it is used as a parameter in regular working discussions and Organizational Units and/or Executives’ performance assessments, thereby making its implementation a shared responsibility across all levels of the Group’s hierarchy.
The submission of sustainable development issues to the Board of Directors takes place when the relevant memorandum drafted by the relevant General Division Manager is submitted to the CEO. If the matter falls within the competence of one of the Board of Directors Committees, it is examined by it, which then proceeds with the relevant recommendation to the Board of Directors.
The positions of the Group’s Director of Corporate Relations and the Director of Health, Safety, Environment and Sustainable Development have responsibilities for planning, input and implementation and report to the Chief Executive Officer.
At the same time, the Sustainability Committee assists the Board of Directors in strengthening the Company’s long-term commitment to value creation in all three pillars of Sustainable Development (economy, environment and society) and in overseeing the implementation of responsible and ethical business conduct in environmental, social and governance-related matters (ESG). The Commission met twice in 2023, on 14 March and 28 July. At the first meeting of the year, the main item for discussion was the Study on the Group’s strategy and operation with regard to Sustainable Development and ESG topics. At the second meeting, the results of the aforementioned study were presented and the proposed changes were approved, which included both the creation of a new organizational structure and the introduction of a new governance model for sustainable development/ESG issues, with specific responsibilities and roles in all involved organizational units of the Group.