We recognize the importance of good corporate governance in achieving our sustainability goals. That is why we have implemented a robust governance framework that ensures effective oversight, accountability, and transparency in our operations. This implementation is done in several ways.
Transparent
and accountable
CSRD preparation
In order to effectively prepare for the CSRD regulations we have created a comprehensive roadmap. In the course of 2023 we have started with a double materiality assessment, but also have been increasing the knowledge level of the finance departments. For example by a CSRD training for the finance community by the Impact Institute. In 2024 we are continuing the dialogue with our stakeholders, conduct a gap analysis to identify the relevant datapoints and we have created a roadmap with our accountant, in which they will be closely involved in our preparation.
Thirdly, we defined the roles and responsibilities related to sustainability reporting and preparation in line with the CSRD, both the finance team and the divisional sustainability lead work together to report on a monthly basis on sustainability KPIs. Next to this, a steering committee is installed in which the CFO and finance director of each division take place. This steering committee oversees the implementation of the sustainability reporting process. On a yearly basis sustainability progress and reporting is also part of the Supervisory Board meeting.
Lastly we have aligned our policies and reporting with several international standards and frameworks such as the United Nations Global Compact and the Sustainable Development Goals.
With the above mentioned measures we aim to build trust and credibility with our stakeholders, and contribute to a more sustainable and responsible business environment.
First of all we developed clear policies and procedures for decision-making, risk management, and ethical business. For example by making sustainability part of the general risk management assessments and meetings. But also by the development of our group code-of-conduct as well as the code-of-conduct for our suppliers.
Secondly, we defined clear roles and responsibilities in our sustainability program. The Faber Group board is responsible for determining the group sustainability strategy and setting the sustainability targets. Each division board is responsible for implementing this strategy and delivering results on these targets. On a quarterly basis the progress and results are evaluated between the group and division board. Each division has a sustainability lead who is responsible for the coordination of the local sustainability program. This sustainability lead is part of the ‘sustainability community’, this is a group which consists of all sustainability leads and the group sustainability manager who regularly meet and work together on groupwide sustainability projects and topics.
We recognize the importance of good corporate governance in achieving our sustainability goals. That is why we have implemented a robust governance framework that ensures effective oversight, accountability, and transparency in our operations. This implementation is done in several ways.
Transparent
and accountable
CSRD preparation
In order to effectively prepare for the CSRD regulations we have created a comprehensive roadmap. In the course of 2023 we have started with a double materiality assessment, but also have been increasing the knowledge level of the finance departments. For example by a CSRD training for the finance community by the Impact Institute. In 2024 we are continuing the dialogue with our stakeholders, conduct a gap analysis to identify the relevant datapoints and we have created a roadmap with our accountant, in which they will be closely involved in our preparation.
Thirdly, we defined the roles and responsibilities related to sustainability reporting and preparation in line with the CSRD, both the finance team and the divisional sustainability lead work together to report on a monthly basis on sustainability KPIs. Next to this, a steering committee is installed in which the CFO and finance director of each division take place. This steering committee oversees the implementation of the sustainability reporting process. On a yearly basis sustainability progress and reporting is also part of the Supervisory Board meeting.
Lastly we have aligned our policies and reporting with several international standards and frameworks such as the United Nations Global Compact and the Sustainable Development Goals.
With the above mentioned measures we aim to build trust and credibility with our stakeholders, and contribute to a more sustainable and responsible business environment.
First of all we developed clear policies and procedures for decision-making, risk management, and ethical business. For example by making sustainability part of the general risk management assessments and meetings. But also by the development of our group code-of-conduct as well as the code-of-conduct for our suppliers.
Secondly, we defined clear roles and responsibilities in our sustainability program. The Faber Group board is responsible for determining the group sustainability strategy and setting the sustainability targets. Each division board is responsible for implementing this strategy and delivering results on these targets. On a quarterly basis the progress and results are evaluated between the group and division board. Each division has a sustainability lead who is responsible for the coordination of the local sustainability program. This sustainability lead is part of the ‘sustainability community’, this is a group which consists of all sustainability leads and the group sustainability manager who regularly meet and work together on groupwide sustainability projects and topics.