The implementation is done in several ways:
First, 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. Together with the group CSR Manager the sustainability leads form the Sustainability Community as described in chapter three.
Thirdly, in 2022 we defined the roles and responsibilities related to sustainability reporting, 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 measures we aim to build trust and credibility with our stakeholders, and contribute to a more sustainable and responsible business environment.