With its members as stewards of the company, the Board of Directors has ultimate responsibility for the overall strategic direction and oversight of ESG-related matters. It has assigned certain of these duties and responsibilities to its Governance and Nomination Committee (GNC).

The Group Executive Committee approves and reviews the Group’s ESG/sustainability approach, policies and targets, ensures embedding in the Group strategy, and is accountable for the implementation across the Group’s business units and functions.

The Group ESG/Sustainability function develops the strategic sustainability direction for the Group together with key stakeholders; it is responsible for driving and coordinating efforts, ensuring alignment across the Group, engaging with stakeholders, and reporting on progress. The Group Head of ESG/Sustainability regularly reports to the Board of Directors/GNC and the Group Executive Committee.

But for any truly integrated approach, this must be a collaborative effort, with both top down and bottom up input. We want to ensure our activities are meaningful and appropriate to the relevant context, needs and perspectives. Global topic leads are responsible for defining topic approaches, policies, processes and targets in line with the Group framework and rolling them out through the functions, across the business units and into the countries. Regional/country leads then translate the global frameworks into meaningful local action and implement relevant policies, processes, targets and actions at regional/country level.

ESG is furthermore reflected in our compensation framework. To support the achievement of our ESG-related objectives, compensation for Executive Committee Members is linked to select material ESG measures. The Short-Term Incentive Plans of the Group Executive Committee Members contain, in addition to the core financial, strategic and functional goals, specific performance objectives that are related to the main ESG goals and priorities of the Group.

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Lee Hewett

Alison Gauzin

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