At Duro Felguera, the consideration of ESG criteria implies taking into account environmental, social and governance factors in its decision-making.
E– The application of environmental criteria in Duro Felguera has to do with the interaction and consequences for the environment that the development of its activities may have. Therefore, key factors in its strategic development are the transformation towards a business model based on renewable energies that lead the transformation towards a sustainable energy system that allows us to tackle climate change.
The definition of more efficient energy policies to reduce the company’s Carbon Footprint, or the performance of Energy Audits, are some of the initiatives being carried out by Duro Felguera to make decarbonisation compatible with economic development and the well-being of society.
S– The application of social criteria in Duro Felguera is a determining factor in assessing how it carries out its business activities with respect to the objectives of its stakeholders. That is to say, how it acts in reference to the expectations of its suppliers, its workers, its shareholders, the administrations, etc. They include aspects related to health, training, human rights and workers’ rights.
In the same vein, the Recommendations of the Good Governance Code of Listed Companies indicate the need for listed companies to define and promote an adequate corporate social responsibility policy, as a non-delegable power of the Board of Directors, offering sufficient information in a transparent manner on its development, application and results; and which should include the principles and commitments that the company voluntarily assumes in its relationship with the different stakeholders.
In accordance with the above, Duro Felguera has a Sustainability Policy that sets out the main aspects and commitments of the company and its group. In this regard, the Duro Felguera Group reaffirms its constant commitment to compliance with sustainability regulations and the application of the highest standards recognised in its activity. As a materialisation of this commitment, it has as an unavoidable obligation the sustainable development that it demonstrates through the commitments of this Policy.
G-Finally, the corporate governance criteria in Duro Felguera are related to the transparency of the company’s information, both accounting and non- accounting, to the degree of decision making given to the company’s shareholders, to how conflicts of interest of directors are managed or avoided, etc.
Throughout its history, the Group has maintained a strong commitment to human rights and respect for ethical principles in accordance with its corporate culture. This commitment is manifested in the positive impact of its activity in all the locations where the Group is present and it considers it a fundamental part of its responsibility to create value. The fundamental principle for the materialisation of this positive impact is the creation of a sustainable business model based, among other points, on the promotion of respect for Human Rights as a differentiating element by going beyond the mere application of legal regulations.
Likewise, through this Policy, the Group seeks to lay the foundations for identifying, mitigating and preventing adverse impacts related to respect for Human Rights in application of the provisions of the relevant national and international regulations, undertaking to consciously avoid contributing to any adverse impact on them.
Duro Felguera has a Code of Conduct that establishes the principles of corporate conduct that must guide the behaviour and decision-making of DF professionals in the performance of their professional responsibilities with employees, customers, suppliers and any interested party that may interact with the organisation.
Its widespread application will ensure that the legal regulations are respected and that the Group’s values are transmitted internally and externally. Therefore, the Code is a mandatory rule for all professionals who, directly or indirectly, act in the name and on behalf of the Duro Felguera Group.
Duro Felguera, as a reinforcement of its commitment to business ethics and transparency in all areas of its activities and encouraging all members of its stakeholders to participate in a corporate culture based on integrity, has a channel, called the Ethics Line, to collect in a totally confidential and independent manner any incident or information related to non-compliance with its Code of Conduct and the Company’s Crime Prevention Model or with any of its Policies.
Duro Felguera has obtained the UNE 19601 certification for criminal compliance and ISO 37001 for anti-bribery, awarded by AENOR. These certifications are recognition of the Duro Felguera Group’s efforts to develop the best ethical, compliance and corporate governance practices in its daily management.
On 31 March last, the Board of Directors approved Duro Felguera’s Human Rights Policy, the result of its commitment to Human Rights and respect for ethical principles in accordance with the Group’s corporate culture.