The Corporate and Legal Affairs Manager responds to key questions
How does the governance represent a sustainable issue in Snam Rete Gas?
We believe that sustainability contributes to the management of business risks, to the improvement of performance, and to the strengthening of reputation and of intangible asset.
To ensure that sustainability is properly addressed, the Board of Directors has taken a central role in defining sustainability policies and in approving the Sustainability Report. On 20 March 2009 the CEO attributed specific functions to the Steering Committee which, to the extent of its responsibilities, is assigned to supervising company sustainability activities, assessing their consistency with business strategies and ensuring the definition of the sustainable development model, and in particular ensuring the assessment and approval of key indicators and the verification of the Sustainability Report.
What are the essential features of Corporate Governance?
The corporate governance system is developed to create value for shareholders and it takes account of the social relevance of the activities that the company carries out. The system considers safeguarding the environment, personal health and safety, protection of employees and equal opportunities, cooperation with local and national communities and, in general, the interests of all stakeholders, to be of fundamental and non-ignorable importance.
Our corporate governance system is based on the guidelines set out in the Code of Conduct for Listed Companies drawn up by the Committee for Corporate Governance of Listed Companies, with recommendations made by CONSOB (National Commission for Listed Companies and the Stock Exchange) as well as, more generally, international best practices. In this regard, it’s noteworthy to remind that the corporate governance system is a specific evaluation criteria considered by Dow Jones Sustainability Index in the Gas Distribution Utilities sector.
MEMBERS OF THE BOARDS OF DIRECTORS OF THE COMPANIES OF THE GROUP AT 10/03/10
| Snam Rete Gas | GNL Italia | Stogit | Italgas |
|---|
| Members of the BoD |
9 |
5 |
5 |
5 |
| Independent |
5 |
--- |
--- |
1 |
| Non-Executives |
7 |
4 |
4 |
4 |
| Minority members |
3 |
--- |
--- |
--- |
| Annual meetings |
11 |
4 |
8 |
10 |
Full details of the company’s corporate governance system are given in the Report on Corporate Governance and Ownership Structures, which is available on the Snam Rete Gas internet website (www.snamretegas.it).
policy of Sustainable Development
The principles and values from which we have drawn inspiration in our sustainability policy have been published in a document, The “Policy of Sustainable Development” is a document drawn up and shared in the company and approved by the CEO. In ongoing improvement we recognise a strategic lever for sustainability practices. In the creation of value we identify our commitment to stakeholders and we consider the natural resources protection a responsible way of conduct that we strive to constantly implement in the activities we carry out. The “Policy of Sustainable Development” is available on the internet website www.snamretegas.it in the Sustainability area.