IBERDROLA adopts a set of principles and values that express its commitment in the areas of corporate governance, business ethics and corporate social responsibility.
Their knowledge, dissemination and implementation are used as a guide for the Board of Directors and its committees and for the other bodies of the Company in their relationships with shareholders, investors, customers, suppliers and the general public.
The set of corporate Policies, which implement these principles, are grouped into three categories:
The operational development of these policies and others initiatives approved by the Company’s management bodies requires a number of management activities to enable their implementation and the monitoring of the results obtained. The subsections below include additional information on the management mechanisms used by the Company.
For additional information on management mechanisms used by the Company are available subsections below:
Established on 19 October 2010, the Corporate Social Responsibility Committee is an internal body for information and consultation set up by the Board of Directors, with no executive functions, which has powers to review and update the Corporate Governance system and supervise the corporate social responsibility, sustainability and reputation policy as set out in its regulations, which are available in the 'Corporate Governance' section of the website. For further information on the Corporate Social Responsibility Committee, see the section on “Corporate Governance”.
Since 2004, IBERDROLA's Corporate Social Responsibility and Reputation Committee has coordinated the work needed to implement systems and carry out the actions that enable the IBERDROLA Group to reach and maintain a leadership position in the business world.
It meets on a regular basis to manage both the reputational aspects related to how IBERDROLA is viewed by its stakeholders and social responsibility issues, identifying and implementing the most appropriate actions to meet the needs and expectations of these groups. These actions are set out in the CSR plans and reputation that IBERDROLA prepares regularly, usually every two or three years.
This committee is chaired by the Brand, CSR and Reputation Manager and comprises the following organisations:
Committees similar to those at head office have been set up in the business and in the subsidiary company of ScottishPower to promote initiatives in this area. There are plans to set up CSR and Reputation committees in the main subholding companies.
The people responsible for kick-starting the Committees in ScottishPower, the Renewable Energy Business, the Generation and Retail Business, the Networks Business and IBERDROLA Ingeniería y Construcción are members of IBERDROLA’s “CSR and Reputation Committee”.
IBERDROLA's progress as regards social responsibility is made possible by a traditional management system characterized by:
The results of the process described above are used to specify the social responsibility plans. The CSR Plan for 2015-2017 was approved in June 2015. This new plan is based on objectives linked to the business model and the management of the Company's tangible and intangible assets, focusing on each one (financial, industrial, intellectual, human, natural, social and relational capital). The activities with which each organisation in the Company will contribute to that plan are established based on the objectives in order to promote in a standardised way the progress of CSR in all the countries, businesses and corporate areas.
The plan is monitored twice a year at the Group's CSR and Reputation Committee and the CSR Committee of the Board of Directors as requested.