We incorporate sustainability at all levels

For Redeia, sustainability is strategically important and a need for our stakeholders. That's why it is promoted by the Board of Directors itself and permeates all areas and levels, incorporating it into their daily decision-making.

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‘The creation of the Sustainability Committee in 2018 contributed significantly to the ranking of Redeia in the field of sustainability. Now, our commitment to ESG issues has led us to increase the value of sustainability criteria to 15% for the calculation of our CEO’s variable remuneration and to seek more sustainable tools for the financing of our projects.’

Eva Pagán - Corporate Director of Sustainability and Research
Eva Pagán - Corporate Director of Sustainability and Research
Organisational structure of sustainability

We have a Sustainability Committee within the Board of Directors that drives our 2030 Sustainability Commitment.

Furthermore, the Sustainability Steering Committee and the Corporate Sustainability and Research Area play a key role by reinforcing the implication of decision-makers at the highest level. Besides, it involves all areas of the organisation in its implementation, supervision, and monitoring.

Approval

Board of Directors

  • Approve the Sustainability Policy
  • Approve plans and targets for the deployment of the Sustainability Commitment

Sustainability Committee

  • Promote ethical leadership that encourages conformity with the Code of Ethics and Conduct, as well as the adoption of corporate values, both inside and outside the organisation.
  • Supervise compliance with our sustainability policies aimed at achieving the Sustainable Development Goals.
  • Monitor Redeia’s strategy and practices in relation to the 2030 Sustainability Commitment, the sustainability policies, and their connection to the Strategic Plan.
  • Supervise stakeholder engagement processes.
  • Supervise and coordinate the process of reporting information on sustainability matters in accordance with international standards of reference.
Consejo de Administración
Monitoring and Assessment

Sustainability Steering Committee

  • Propose the group’s sustainability principles and guidelines.
  • Guarantee the fulfilment of the targets and priorities of the 2030 Sustainability Commitment.
  • Ensure the establishment of a management system and promote its efficient implementation.
  • Guarantee the analysis and assessment of all stakeholders’ requirements within the company’s strategies.
  • Promote internal awareness.
People working
Supervision

Corporate Director of Sustainability and Research

  • Advise the group on matters related to sustainability.
  • Define and design the activities and structural elements of the management model.
  • Design and monitor the plans and programmes.
  • Ensure the development and ongoing improvement of management systems, structures, plans, and sustainability projects.
Two women smilling
Implementation

Organisational Areas

  • Carry out their activities and projects in accordance with the principles and guidelines set out in the 2030 Sustainability Commitment, ensuring the involvement of all collaborators concerned.
  • Participate in the implementation of the management model.
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Voluntary Sustainability Committee since 2018

In 2018, we voluntarily created a Sustainability Committee. Its objective is to supervise and promote actions related to the environment and the fight against climate change. We aim at achieving this with ethical behaviour and values associated with the development of a corporate culture that supports the success and business model of our company, in addition to the social impact on the communities involved in our activity.

Noteworthy duties and responsibilities:
Ethical leadership
Ethical leadership
Monitor our sustainability strategy and practices and their connection to the Strategic Plan
Monitor our sustainability strategy and practices and their connection to the Strategic Plan
Supervise compliance with our sustainability policies
Supervise compliance with our sustainability policies
Supervise the processes of engagement with our stakeholders 
Supervise the processes of engagement with our stakeholders
Supervise and coordinate the sustainability information reporting
Supervise and coordinate the sustainability information reporting

The Committee consists of three directors with four-year terms, although they can be re-elected.

Sustainability Committee  
Composition 3 members
Chairperson Independent director
Independent Board Members 66,78%
Nominee directors 33,3%
Women on the Board 100%

More information about our Sustainability Committee

A remuneration system that drives sustainability

We have designed a compensation system for the CEO and senior-level directors that drives the achievement of our sustainability goals. Thus, our CEO’s total annual variable remuneration is linked to 15% progress in achieving our current Sustainability Plan and our presence on the leading sustainability indexes.

The multi-year variable remuneration also includes a long-term incentive plan to drive the energy transition, reduce the digital divide, and to diversify. The right to receive the incentive is contingent on achieving 10% sustainability.

Since 2015, ESG criteria (environmental, social, and good corporate governance) have been applied to calculate the variable remuneration of the CEO and senior-level directors.

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