Effective governance and management drives embedding sustainability into day to day operations and support business growth and long term success.
Sustainability and Risk Management Committee
The Board has appointed Members of the Sustainability and Risk Management Committee (SRMC), each of whom possess in-depth knowledge and vast expertise in sustainability and risk management. The SRMC is the second highest authority in the Company. Currently, the SRMC comprises nine members of the Board, including four Independent Directors.
Sustainability Steering Committee
The SRM Committee is supported by the Sustainability Steering Committee, formed in 2014, which consists of 14 senior executives of the Company, each of whom have diverse experiences across different functions and businesses and who bring together considerable subject matter expertise. The Sustainability Steering Committee advances the objectives of sustainability and implements the sustainability practices across all IVL entities.
ESG performance (various GHG-related measures) are part of KPIs of our senior executives and Global Manufacturing Heads. Measurements are linked to their annual variable compensation and incentives. It is aligned with our 2030 Vision and 2025 & 2030 targets.
Sustainability Area Champions
The Sustainability and Risk Management Committee nominated champions for each area of sustainability as mentioned in the governing structure for sustainability and risk management. The champions, with their leadership abilities, vast expertise and industry knowledge will drive efficiencies throughout the organization by implementing new initiatives or modifying existing practices in-line with industry best practices. Through this structure, the Committee is ensuring the development of a sustainability culture into the Company’s corporate DNA and day-to-day operations.