The Chairman and the directors of the Corporate Responsibility Committee of Red Eléctrica de España today unveiled the new Corporate Responsibility (CR) Plan for 2014-2016, which drives a business model focused on sustainability and the creation of value for its stakeholders. This year, the Company will carry out 32 CR projects under the guidelines of the new Plan; a plan which involved the work of more than 50 people from 27 organisational units.
The new Plan establishes an action framework for the next three years which brings together external requirements on corporate responsibility and internal strategies, and on which the organisational units of the Company will work on in the medium term. The Plan, which is of a transversal nature and has the full backing of the organisation, revises and updates its predecessor for the 2009-2013 period. Moreover, senior management was involved, as it has received the approval of both the Chairman of the Company and the Board’s Corporate Responsibility and Governance Committee.
The CR Plan 2014-2016 is structured on five areas of action or vectors that enable the Company to work in a coordinated manner in order to achieve shared goals. The main changes are the addition of the our business vector, which encompasses the activities associated with operation and transmission, and the specific corporate governance and ethical management vector. The rest of the sections are related to the Company’s commitments regarding matters associated to employees, society and the environment.
The incorporation of the specific business activities of Red Eléctrica, electricity transmission and operation of the electricity system, aims to promote a more efficient and sustainable electricity system, in addition to the commitment towards technological innovation, economic sustainability in the medium and long term, and the promotion of relationships with the value chain based on social responsibility criteria.
The definition of a bespoke corporate governance and ethics vector is aimed at implementing best practices regarding corporate governance matters in order to strengthen confidence in the business management of the Company.
The ‘employees’ vector is focused on promoting stable and quality employment, equality and the development of talent, and encouraging commitment. Furthermore, the ‘society’ section focuses on furthering dialogue with stakeholders to create shared value that contributes to social well-being, and the ‘environment’ section is geared towards preserving biodiversity and increasing the benefits for the sustainability of the Spanish electricity system resulting from Red Electrica’s management of the activities.
The new CR Plan, which is deployed by means of an annual programme of projects and activities, will increase the knowledge and awareness of the people employed in the Company in terms of corporate responsibility and will promote cross-organisational management so that the organisational units assume Red Eléctrica’s goal of achieving a sustainable energy future as their own.
In line with its commitment to transparency, Red Eléctrica will publish tomorrow the content of the CR Plan 2014-2016 in the sustainability section of the corporate website, along with all the projects that will be carried out in 2014.
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