Sustainability governance
The Group’s willingness to operate in an increasingly responsible manner and include in all respects sustainability in its business practices has prompted the implementation at Brembo of a Governance system which is dedicated to supervising and managing these topics at global level.
The key figure at the heart of Brembo’s sustainability governance is the
Chief CSR Officer, a role entrusted to the Director in charge of the Internal Control and Risk Management System. Besides interacting with the Audit, Risk & Sustainability Committee, the Chief CSR Officer is responsible for proposing, coordinating and deploying social responsibility projects and initiatives, monitoring action plans in the various organisational units (also in light of external best practices), analysing information documents and stakeholders’ requests regarding sustainability-related topics, as well as coordinating activities involved in the drafting of the annual Disclosure of Non-Financial Information.
To support the Chief CSR Officer, Brembo has appointed a dedicated
Task Force, comprised of a group of experts belonging to the various Global Central Functions (GCF) most involved in sustainability matters, with the task of thoroughly analysing — each within its remittance — specific aspects in the field of corporate projects and data collection for the Disclosure of Non-Financial Information. Two resources have been identified within the Communication GCF area who deal in particular with the promotion and communication of sustainability projects and collaborate on an ongoing-basis with the CSR team. In the same way, a resource from Human Resources & Organisation GCF collaborates on an ongoing basis with the team’s project planning.
Brembo has also set up a
CSR Committee consisting of the company’s top managers and the heads of the GCF that are more closely involved with sustainability. The Committee is tasked with defining the Sustainability Guidelines, adopting the related policies, proposing a plan containing the environmental and social strategic objectives, approving the projects submitted by the Chief CSR Officer and validating the preparatory activities needed to launch the sustainability reporting process. The CSR Committee is also required to effectively oversee the stakeholder engagement process and the sustainability-related risks, as well as to assess the draft Disclosure of Non-financial Information.
In addition, in accordance with the provisions of Borsa Italiana’s Corporate Governance Code, the Group has set up an
Audit, Risk & Sustainability Committee within the Board of Directors, consisting of 3 Independent Directors, each with a 3-year term expiring upon the General Shareholders’ Meeting called to approve the Financial Statements at 31 December 2022.
The Audit, Risk & Sustainability Committee supports the Board of Directors, on the basis of an adequate preliminary analysis process, in its evaluations and decisions concerning the internal control system and risk management, sustainability matters and interaction with stakeholders.
CSR Ambassadors and CSR Champions positions were created as soon as in 2019 to raise awareness of sustainability at the various Brembo plants worldwide and to establish a direct, active communications channel. Their mission is to spread a CSR culture, promote activities and support local initiatives relating to sustainability, in addition to interacting regularly with the CSR GCF to share information, events and projects in favour of sustainable development. The differences between the two positions are the level of responsibility and scope of action: CSR Ambassadors operate at the level of the region/legal entity and rely on assistance from the CSR Champions who operate at the site level and report the information to the appropriate CSR Ambassador.
Brembo’s sustainability plan
The great challenges of our time require joint commitment and encourage us to act together with, and in relation to, our main stakeholders (customers, suppliers, associations, etc.). Working as a “system” to create solutions that provide continuity and a positive impact on the environment, economy and individuals pushes us to strive for long-term goals and targets. To ensure that the Group grows together with its host countries, Brembo has continued the activities aimed at finalising its first Sustainability Plan: “Turning Sustainability into Action”. At Brembo, sustainability is thus a way of thinking that is given concrete form through the formulation of a clear and concrete strategy.
In order to guarantee to all stakeholders a full consistency between the contents of the Plan and this Disclosure of Non-Financial Information, as well as a greater assumption of responsibility by the management for a correct understanding of the activities, objectives and results presented,
the targets have been identified starting from the topics that are material to Brembo.
