Cellnex
ESRS disclosure
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- Provide a detailed account of the roles and responsibilities of the administrative, management, and supervisory bodies, specifically focusing on the governance processes, controls, and procedures utilized to monitor, manage, and oversee impacts, risks, and opportunities. Include comprehensive information regarding the reporting lines to these bodies.
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Question Id: GOV-1_12
The CEC reports to the Audit and Risk Management Committee of the Board of Directors. It is responsible for overseeing ethics, business integrity, and the effectiveness of the company’s compliance system.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of the roles and responsibilities of your administrative, management, and supervisory bodies. Specifically, describe management's involvement in governance processes, controls, and procedures utilized to monitor, manage, and oversee impacts, risks, and opportunities. Include information on whether dedicated controls and procedures are employed for managing these aspects and, if applicable, explain how they are integrated with other internal functions.
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Question Id: GOV-1_13
The CEC is responsible for overseeing ethics, business integrity, and the effectiveness of the company’s compliance system. It plays a proactive role in ensuring that these areas are managed effectively, with broad powers and independence for executing its functions.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of the roles and responsibilities of the administrative, management, and supervisory bodies, including senior executive management, in overseeing the establishment of targets concerning material impacts, risks, and opportunities. Additionally, explain the mechanisms in place for monitoring progress towards these targets.
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Question Id: GOV-1_14
The material impacts, risks, and opportunities related to governance and business conduct have been identified in a double materiality assessment. This procedure is described in section 1.4.1 Double Materiality Assessment Process.
Report Date: 4Q2024Relevance: 30%
- Provide a detailed account of the methods employed by the administrative, management, and supervisory bodies to ascertain the availability or development of appropriate skills and expertise necessary for overseeing sustainability matters.
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Question Id: GOV-1_15
In the selection process for the members of the CEC, Cellnex ensures that they possess the necessary academic knowledge and professional experience to competently oversee business conduct matters, including ethics, integrity, and compliance.
Report Date: 4Q2024Relevance: 60%
- Provide a comprehensive description of the methods employed by the administrative, management, and supervisory bodies to ascertain the availability or development of appropriate skills and expertise necessary for overseeing sustainability matters. This should include details on the sustainability-related expertise that these bodies, collectively, either directly possess or have the capability to leverage, such as through access to external experts or training programs.
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Question Id: GOV-1_16
Cellnex provides continuous training to ensure that members are up to date with the latest developments in business conduct and regulatory changes. The Audit and Risk Management Committee members are appointed based on their knowledge and experience in risk management, accountancy, and auditing.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of how the administrative, management, and supervisory bodies ascertain the availability or development of appropriate skills and expertise necessary to oversee sustainability matters. Include an explanation of how these skills and expertise are connected to the company's material impacts, risks, and opportunities.
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Question Id: GOV-1_17
Cellnex ensures that members possess the necessary academic knowledge and professional experience to competently oversee business conduct matters, including ethics, integrity, and compliance. Continuous training is provided to keep members up to date with the latest developments.
Report Date: 4Q2024Relevance: 60%
- Provide detailed information regarding whether, by whom, and how frequently the administrative, management, and supervisory bodies, including their relevant committees, are informed about material impacts, risks, and opportunities. Additionally, disclose the implementation of due diligence, as well as the results and effectiveness of policies, actions, metrics, and targets adopted to address these issues.
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Question Id: GOV-2_01
Cellnex's Nominations, Remunerations and Sustainability Committee (NRSC) is the main body responsible for monitoring the ESG strategy and reports to the Board of Directors. ESG topics were discussed in 50% of the meetings held by the NRSC (6/12 meetings) in 2024. The Audit and Risk Management Committee (ARMC) is responsible for overseeing risk management, internal control, and internal audit functions. The ESG Committee is responsible for the day-to-day management of ESG functional teams. Both governance bodies are informed of the company's material impacts, risks, and opportunities and take these into account when overseeing the company's ESG strategy.
Report Date: 4Q2024Relevance: 70%
- Provide a detailed account of how your administrative, management, and supervisory bodies evaluate impacts, risks, and opportunities in the context of overseeing your company's strategy, major transaction decisions, and risk management processes. Include an explanation of whether trade-offs related to these impacts, risks, and opportunities have been considered.
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Question Id: GOV-2_02
The Nominations, Remunerations and Sustainability Committee (NRSC) is responsible for the supervision and evaluation of the relationship processes with Cellnex's stakeholders, providing oversight of Cellnex's environmental and social practices to ensure alignment with ESG strategy and policies. The Audit and Risk Management Committee (ARMC) oversees risk management, internal control, and internal audit functions, working closely with the Board of Directors to mitigate the Company's main risks and supervise the preparation of both financial and non-financial information.
Report Date: 4Q2024Relevance: 65%
- Provide a comprehensive list of the material impacts, risks, and opportunities that have been addressed by the administrative, management, and supervisory bodies, or their relevant committees, during the reporting period.
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Question Id: GOV-2_03
Both governance bodies are informed of the company's material impacts, risks, and opportunities and take these into account when overseeing the company's ESG strategy. However, the specific list of material impacts, risks, and opportunities is not detailed in the provided text.
Report Date: 4Q2024Relevance: 50%
- How do the governance bodies of your undertaking ensure that an appropriate mechanism for performance monitoring is in place, particularly when overarching targets are the focus of administrative, management, and supervisory bodies, and detailed targets are the focus of management? Provide information on the sustainability matters addressed and the information provided to these bodies, especially if no measurable outcome-oriented targets have been set.
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Question Id: GOV-2_04
The Nominations, Remunerations and Sustainability Committee (NRSC) is responsible for providing oversight of Cellnex's environmental and social practices to ensure alignment with ESG strategy and policies. The Audit and Risk Management Committee (ARMC) is responsible for overseeing risk management, internal control, and internal audit functions. The ESG Committee is responsible for the day-to-day management of ESG functional teams, ensuring compliance with the ESG Policy, and involving every Cellnex corporate area and business unit in the implementation of the ESG strategy and Master Plan.
Report Date: 4Q2024Relevance: 60%