Investor Presentaiton
Ferrero Group
Sustainability Report 2022
Governance (continued)
Introduction
Our sustainability
progress
Our reporting
F
The Group Leadership Team (GLT) is the
highest company board, meetings are held
every two months. GLT reviews the
Sustainability Long-Term Guidelines,
prepared every year, which are prepared by
the Strategy, CSR & Sustainability team in
alignment with the Sustainability Operative
Committee and are then cascaded to all the
functions, in charge of developing short to
medium-term plans.
The Sustainability Operative Committee (SOC)
comprises the Heads from several functions
across the Ferrero Group accountable for
sustainability activities and strategy
implementation, including the packaging
department, the Environment and Energy team
in operations, human resources, brands social
responsibility (overseeing marketing
communication strategy for brands), risk
management, communications & institutional
affairs and responsible sourcing in procurement.
The SOC oversees the implementation of the
strategy and monitors progress on a regular
basis (meeting is held monthly). The minutes of
each SOC meeting are presented in dedicated
meetings by the CSO (Chief Sustainability
Officer) to the CEO and relevant members
of the GLT. The minutes are reviewed monthly
with the Executive Chairman.
All major sustainability-related investments
are approved by the GLT investment
committee and every investment above the
threshold of 100,000 euro includes carbon
impact indicators to support decision-making.
The SOC has outlined a plan for regular
interaction with third parties (governmental
and non-governmental organisations,
specialised consultancies etc.) to build SOC's
collective knowledge and awareness about
relevant social and environmental topics for
the Ferrero Group. As an example, the first
interaction, with SHIFT (www.shiftproject.org)
happened in July 2022 and a full-year
programme was developed for FY 2022/23.
Sustainability governance
Our sustainability governance structure
enables us to define the Group's sustainability
strategy based on key sustainability and
consumer trends. The Strategy, CSR &
Sustainability unit, part of the Strategic Staff,
interacts with the business functions to
provide strategic guidance on all sustainability
topics. The responsibilities of the Strategy, CSR
& Sustainability unit include:
Pursuing the sustainability agenda within
Ferrero Group by integrating sustainability
principles into strategies, policies and
procedures.
• Ensuring the successful implementation
of responsible business practices across
the Group.
Contributing to creating positive impacts
within the communities where we operate.
The objectives of this unit include:
Defining the Group's sustainability
strategy based on key sustainability and
consumer trends, integrating it into the
Group's strategic-long term guidelines.
• Supporting all business functions in
implementing plans and monitoring
sustainability initiatives, with a focus on
monitoring key social and environmental
sustainability initiatives.
Developing long-term corporate
sustainability projects.
Developing and maintaining a transparent
reporting system.
Listening to our stakeholders
Addressing sustainability via advocacy
engagement needs imperatively to be
part of broader efforts to tackle systemic
challenges intrinsic to our business
sector such as deforestation, respect for
human rights, labour conditions,
packaging waste and climate change.
These are all issues of relevant social
concern that impact hardest the most
vulnerable people in our value chain, and
often matter significantly to consumers.
Therefore, we advocate for impactful
policy and regulatory solutions to
sustainability challenges. To do so and
address these critical issues, we will
engage directly and transparently with
relevant stakeholders, such as civil
society, and through relevant industry
associations and other coalitions.
Guiding principles and business ethics
Our guiding principles are set out in the Ferrero
Code of Ethics and Code of Business Conduct.
Employees must adhere to these principles,
with new joiners receiving a copy of the
Code of Ethics.
To ensure compliance with our policies
and ethics, the Group has put in place an
independently managed Ferrero Integrity
Helpline, which is available for employees
and anyone who works with and for the Group.
The helpline can be used to report grievances
and concerns and ask questions related to
our codes. The helpline is available 24/7 in
43 languages via a website and toll-free local
numbers in 55 countries.
Reports are made available to a dedicated
Ferrero Steering Committee for review and
investigation. The Ferrero Group Anti-Bribery
and Corruption Policy set out our commitment
to ensure no detrimental treatment of any
person as a result of reporting in good faith
their suspicion that an actual or potential
violation of our policies and codes has
taken place.
87View entire presentation