Red Eléctrica de España has launched this year 35 corporate responsibility projects, which are part of the 2014-2016 multi-year Plan which integrates all initiatives of this nature and that sets out the courses of action for these three years. Said plan is approved by the Appointments and Remuneration Committee of the Board.
Furthermore, the management of corporate responsibility is introduced this year, for the first time, as a management objective of the Company, hence representing an important step forward in Red Eléctrica’s commitment to and support for sustainability.
The multi-year Plan is structured into five areas of management: corporate governance and ethics, sustainable energy model, commitment to employees, commitment to society and commitment to the environment. The projects that make up the annual programme are defined around these areas and allow the Company to put in place the courses of action set out in said programme in order to advance in the fulfilment of the commitments undertaken. In 2014, the degree of fulfilment of the programme reached 83%.
The 2015 annual programme consists of 35 projects, classified in the five areas described above, which aim to create value for the stakeholders of the Company and contribute to the development and well-being of society.
As a management objective, in which the entire management team partakes, an indicator linked to the fulfilment of the annual programme has been defined.
Within the area of corporate governance and ethics, the latest recommendations in this field will be incorporated in order to apply best practices, and dissemination and communication actions on the principles and values underlying the corporate governance policy, recently approved by the Board of Directors, will be implemented.
In the area of Red Eléctrica’s of business activity, 16 projects have been defined that aim to favor the development of a sustainable energy model, among them noteworthy are those that aim at improving dialogue with stakeholders and the coordination and safety of works in the transmission grid; promoting responsible energy consumption in households; development of the Company’s integral risk management system, and the development of the requirements required from suppliers and that are associated to corporate responsibility aspects.
Regarding the commitment to employees, work is being performed on the design and implementation of a new intranet aimed at establishing a more collaborative internal communication model; in the development of a global model for knowledge management of key business activities and an action plan regarding the disability management model, as well as the implementation of a functional mobility programme.
Six projects are being implemented this year within the commitment to society scope focused especially on improving the visibility of Red Eléctrica’s contribution to society, enhancing information transparency, supporting the conservation of cultural heritage and promoting corporate volunteering actions.
Finally, in the aspect related to the environment, Red Eléctrica continues to collaborate on the conservation of biodiversity and the protection of birds. Also, in connection with the fight against climate change, the Company is developing a mobility plan for employee commuting in order to establish more sustainable transport alternatives, and a methodology for calculating the carbon footprint associated with the life cycle of electricity facilities.
The 35 initiatives launched this year by Red Eléctrica reflect the progress of the Company's commitment to corporate responsibility as part of their corporate culture and as a basic pillar of its Strategic Plan.
Sustainability leaders according to the CSR and RSE Observatories
As a result of the Company’s firm commitment to transparency and sustainability, Red Eléctrica has recently renewed its ranking as the top company of the IBEX 35, according to the study conducted annually by the Spain's Corporate Social Responsibility (CSR) Observatory in order to drive, from a critical perspective, advances in corporate social responsibility in society.
It is worth noting that this recognition is in addition to having also been granted the top position in the study ‘Culture, policies and practices of responsability for IBEX-35 companies’ published by the Spain's Social Responsibility Observatory of Companies (RSE).
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