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 the auditing and management of these topics at Group 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 yearly Disclosure of Non-Financial Information.
To support the Chief CSR Officer, Brembo has appointed the
Task Force, a group of experts belonging to the various Global Central Functions (GCF) involved in sustainability issues, with the task of thoroughly analysing — each within its remittance — specific issues in the field of corporate projects and data collection for the Disclosure of Non-Financial Information.
In particular, one internal resource within the Communication GCF area deals with the promotion and communication of sustainability projects, collaborating 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 created a
CSR Committee consisting of the company’s top management and the heads of the GCF that are more closely involved with sustainability issues. The Committee is tasked with determining the Sustainability Guidelines, adopting the relative 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.
Lastly, 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 three Independent Directors, each with a three-year term. The current Committee was appointed on 20 April 2023 and will remain in office until the General Shareholders’ Meeting called to approve the Financial Statements at 31 December 2025.
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. In particular, this Committee analyses and expresses opinions on the sustainability policies and procedures, as well as the guidelines and the company goals with related processes linked to social and environmental topics. Moreover, the Committee monitors sustainability-related international initiatives and actively involves the Group with such initiatives to raise the company’s profile in the international arena. It also expresses its opinions in relation to the identification of the main corporate risks, particularly those involving sustainability, environmental and social topics. Finally, it analyses and assesses the draft Disclosure of Non-Financial Information, which is submitted for approval to the Board of Directors on a yearly basis.
In this context, it should be noted that the Audit, Risk & Sustainability Committee reports to the Board of Directors, at least on a half-yearly basis, upon the approval of the annual and six-monthly report, on the activity performed, as well as the adequacy of the internal control and risk management system and, in any case, upon the first meeting of the Board of Directors should significant issues emerge during its meetings.
With regard to the activities carried out in 2023 by the Audit, Risk & Sustainability Committee, please refer to the 2023 Brembo Corporate Governance and Ownership Structure Report (Paragraph 9.2).
CSR Ambassadors and
CSR Champions positions were created 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. In 2023, the CSR Ambassadors and CSR Champions took part in dedicated sessions, both to train on environmental issues (e.g. the Sustainability Self-Assessment, the Sustainability Report, the Brembo Sustainability Awards competition, third-party sustainability audits and a session dedicated to the activities relating to the Pillars and the Gen Z Forum) and share projects and initiatives. At the end of 2023, there were 13 CSR Ambassadors and 28 CSR Champions at work within the Group.
Starting in 2023, a
Sustainability Self Assessment (SSA) was implemented, marking a significant step towards more integrated governance. This is a self-assessment questionnaire based on the main requests from the Group’ stakeholders, industry best practices and third-party audit requests. The project’s goal is to periodically collect and monitor the status of each plant and legal entity within the Group with regard to ESG matters, identifying any improvement actions.
The sustainability plan of Brembo
Brembo faces today’s challenges collaborating with various stakeholders to create solutions that have a positive impact on the environment, economy and people, on a long-term horizon. To bring the Group’s growth into line with that of the Countries in which its production sites are located, Brembo continues to pursue its
Sustainability Plan: “Turning Sustainability into Action”. This
clear, concrete strategy conducted by the CSR function also involved the Top Management in setting targets, considering industry best practices and the main global ESG trends. These targets, which are primarily quantitative, are organised into
five strategic areas that refer to the material topics in order to ensure the
consistency of the Plan and the Disclosure of Non-Financial Information, as well as greater accountability of management. The related
targets were updated in 2023.
It should be noted that the goals published in the Sustainability Plan, and in this document, are a selection of the goals and targets that Brembo pursues and that refer to its various functions.
Through the “We support SDGs” project as well, the Brembo Group pursues a
sustainable strategy and adopts an
integrated business model that allow to contribute to reaching all the 17 UN sustainable development goals.
Reaching the
Net Zero emission objective by 2040 is among the Brembo’s Sustainability Plan objectives aimed at reducing the environmental impact.
The Group is aware that this necessarily entails a deep change in the industry, not only in terms of energy savings. It is precisely for this reason that “Turning sustainability into action” also provides for objectives connected with waste disposal procedures.
Moreover, Brembo is committed to strengthening the
development of innovative products designed from the beginning with an
eco-sustainable and circular approach. The Group is thus committed to expand the product families included in the Life Cycle Assessment (LCA).
Since it operates in an international, multicultural context, through the Plan Brembo also aims to underscore the importance of
diversity as capital to be enhanced by investing in awareness-raising projects and processes that strengthen the culture of
diversity, equity and inclusion and create opportunities for dialogue and sharing among both
colleagues and members of the
local community that foster the exchange of ideas and opinions. Other goals relate to
activities involving active engagement of individuals to support the creation of an inclusive, positive and safe work environment. The ambition is to make individuals the focus of every process, in an environment in which employees are proud of what they do and get along with their coworkers.
Brembo regards the
relationship with its value chain as an important occasion for collaboration and a mutual opportunity for growth and enrichment. In this sense, the Plan provides for an ever greater
involvement of customers and suppliers in a community perspective but also of
synergistic fusion of skills and best practice. Brembo is therefore committed to favouring a
local supply chain and selecting its suppliers according to
sustainability-based criteria.
These measures converge towards a product range that is in line with the company principles and values described above. An activity that thus translates into
clear communication of Brembo's actions in pursuit of sustainable development, through an
extensive, consistent communications campaign based on press releases, interviews and various content, such as speeches, letters and videos.
