The Group’s willingness to operate in an increasingly responsible and transparent manner and to include sustainability in its business practices has prompted the implementation at Brembo of a
Governance system which is dedicated to the auditing and management of sustainability 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 created a
CSR Meeting (formerly the “Corporate Social Responsibility Steering Committee”) which provides for the company’s top management and the heads of the Group functions that are more closely involved with sustainability issues to meet periodically. Said meetings are aimed at 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 Meeting 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, in 2017 the Group tasked the Audit and Risk Committee with supervision of environmental issues and accordingly changed its name into
Audit, Risk & Sustainability Committee and updated the list of its tasks. Said approach has been maintained also in view of the reappointment of the company bodies to occur during the Shareholders' Meeting of 23 April 2020 for the 2020-2022 term. More specifically the Audit, Risk & Sustainability Committee provides support to the Board of Directors by analysing the sustainability policies and procedures, as well as the guidelines, 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. The Audit, Risk & Sustainability Committee is also required to express specialised opinions in relation to the identification of the main corporate risks, particularly those involving sustainability, environmental and social topics. Finally, the Committee analyses and assesses the draft Disclosure of Non-Financial Information, which is submitted for approval to the Board of Directors on a yearly basis.
CSR Ambassadors and CSR Champions positions were created last year 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 Function 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. During the year, the CSR Ambassadors and CSR Champions took part in dedicated sessions, both to inform on environmental issues and share projects and initiatives. At the end of 2020, there were ten CSR Ambassadors and 20 CSR Champions at work within the Group.