Sustainability is a top priority for our company. It is embedded firmly in our strategy through the regular review of all issues that are material to our stakeholders, the definition of appropriate actions and targets and the adherence to environmental, social and governance policies.
Our two governance bodies, the Board of Directors and the Group Executive Committee, oversee the implementation of our strategy and sustainability imperatives and reflect the culture of transparency and collaboration that is prevalent across the Group.
Chair: Chairman of the Group Executive Committee
Convener: Chief Sustainability Officer
The purpose of this Committee is to strengthen and support the management’s long-term approach in addressing environmental, social, and governance issues and to monitor the implementation of the sustainability strategy set by the Board.
In particular, its role is to
- oversee and monitor the implementation of the Company’s sustainability strategy,
- monitor performance vs. the targets set and
- decide on corrective actions, review and revise the areas of focus, set appropriate targets, and review the corporate materiality assessment.
Chair: Chief Sustainability Officer
Convener: Group ESG Performance Director
The Sustainability Working Group (SWG) consists of one Senior advisor to the Board, three ExCom Members, two Regional Directors and the Investor Relations Director. The SWG is responsible for supporting the co-ordination of the Group Sustainability Agenda and the relevant decision-making at both Group and regional level.
The main tasks of the SWG are to:
- develop and present specific proposals related to the Group Sustainability Agenda,
- facilitate internal communication,
- coordinate TITAN’s engagement efforts with international and industry organizations, networks, and initiatives, and
- provide guidance to TITAN’s business units.
The role of the Group ESG Performance department is to consolidate, coordinate, and monitor the sustainability actions undertaken across the Group, ensuring that we collectively deliver the best possible results against well-defined ESG criteria.
Risk identification and assessment are an integral part of our management processes, helping to safeguard the long-term sustainability of our business. Risks are addressed on a day-today basis by the Group’s management at various levels in the organization according to the nature of each risk. The Board has the overall responsibility for determining the nature and extent of the principal risks that the Company is willing to assume in achieving the strategic objectives of the Group, while the responsibility for monitoring the effectiveness of the Group’s risk management and internal control systems is delegated by the Board to the Audit and Risk Committee. TITAN’s risk management framework is presented below.