Governance (ESG)

The governance bodies at GRI Renewable Industries integrate environmental, social and governance (ESG) criteria into their decision making, to grow as a profitable and sustainable company.

Corporate Governance

GRI Renewable Industries S.L. was incorporated in June 22, 2008 under the name “Gonvarri Infraestructuras Eólicas”, later it was denominated “Gestamp Wind Steel”, before taking on its current name, GRI Renewable Industries, and absorbing “Gonvarri Eólica”.

En línea con nuestros objetivos en sostenibilidad, en diciembre de 2020 se presentó el “Plan Carbon Neutral 2030/50”. Para su seguimiento y medición se definió un gobierno carbon neutral formado por el Comité Carbón Neutral y el equipo operativo.

In line with our sustainability objectives, the “2030/50 Carbon Neutral Plan” was presented in December 2020. For its monitoring and measurement, a carbon neutral government was defined, consisting of the Carbon Neutral Committee and the operational team.

Balance sheet

In recent years, GRI Renewable Industries has made an extraordinary investment effort to reach an amount close to 800 million euros since its creation. Despite the global pandemic that has had an impact on all the countries where the company operates, 2021 was a year of strong growth in both the tower and flange divisions.

Compliance Model

The Company has a global corporate culture that preserves the same values and principles since its origin, but which is adapted to the local needs of each country, to current market conditions and to the requests of stakeholders.

In 2017, the Compliance Department was created to coordinate all compliance initiatives, as well as to follow up and monitor training on the Code of Ethics for all professionals. This department was formally approved by the Board of Directors.

GRI Renewable Industries has formally established common policies and guidelines, including: the Code of Ethics and Conduct and the Anti-Fraud and Anti-Corruption Policy, both renewed in 2020, as well as the Harassment Prevention Guide and Action Protocol and the Guidelines for behaviour when offering incentives, gifts or invitations.

Four new policies were approved in 2021, the objective of which is summarised below:

Code of Ethics and Conduct

The code is a referent for decision making by all employees of GRI Renewable Industries. It was approved by the Board of Directors in January 2014 and was revised in 2019. The new version of the Code of Ethics and Conduct came into force on January 21st, 2020.

Its content includes the “Ethics Channel”, which is available in all the languages in which the group operates and accessible to internal and external stakeholders.

The channel is available in all the languages in which the group operates.

In order to ensure that the policies and guidelines are known by all employees, a Training Plan has been developed, which includes online and face-to-face training.

In 2021, a total of 210 employees were trained in Iberia (66 women and 144 men) for a total of 115 hours.

Risks and opportunities

At GRI Renewable Industries we work to mitigate and reduce potential risks through mechanisms embedded in the organisation, as summarised below:

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