We follow good corporate governance practices and seek to manage our impacts based on the recommendations of international institutions and the scientific community.
Sustainability governance
Sustainability is at the core of the Group’s strategy and strategic plan. Ambition to lead the energy transition across the region towards an energy smart world requires strengthening of our ESG performance and accountability. Our sustainability management plan and a list of policies we follow are disclosed to the public. We publish ESG indicator data and sustainability highlight in the interim and half year reports while comprehensive ESG information is published in our Annual reports.
Ignitis Group sustainability governance structure
External oversight
Sets strategic direction and approves strategic sustainability goals
Sets strategic sustainability direction, approves strategic sustainability goals and oversees the progress.
Sets strategic direction and approves strategic sustainability goals
Oversees the strategic directions for sustainability, provides opinion and recommendations on sustainability actions and targets, oversees key ESG topics, focusing on health and safety and climate, supervises compliance with ethical business practices as well as bribery and corruption risk system and makes recommendations to the Supervisory Board. The committee also assesses the state of implementation of the risk measures in these fields, monitors the progress and reviews related disclosures and reports.
Oversees sustainability strategy, key ESG issues and reporting
Responsible for assessing candidates for the management and supervisory bodies and the senior management of the Group companies. It also monitors the compliance of the Group Remuneration Policy of Group companies with international practices and good governance recommendations.
Oversees ESG-data-related processes, monitors external assurance
Oversees the effectiveness of the Group's ESG data disclosure process.
Management
Approves sustainability policies, programmes and ensures implementation
Makes decisions on formulating, approving and updating the Group’s sustainability-related policies, guidelines and activities. It approves sustainability goals for the Group and its subsidiaries, including the GHG reduction targets. The Management Board monitors the Group’s key ESG risks (including the climaterelated ones) and is ultimately accountable for the long-term stewardship of the Group. The Management Board considers it important to respond to the climate change and other nature-related issues as well as the risks associated with them. The Management Board appoints members of the Sustainable Development Committee.
Internal oversight
Supports the Management Board, discusses sustainability policies and programmes and proposes solutions for the implementation within the Group
Supports the Management Board, discuses sustainability policies and programmes and proposes solutions for their implementation within the Group.
Coordination, implementation
Coordinates preparation and implementation of sustainability programmes and reports
Ensures centralised coordination of sustainability/ESG-related issues at the Group level. The separate function reports directly to the CEO of the parent company. The Sustainability function ensures the implementation of the Sustainability Policy, advises the Group companies and functions on sustainability matters, coordinates the sustainability and consolidates the ESG data of the Group companies. Other functions also play a role in coordinating the sustainability-related matters, depending on their needs and their main functional role.
Implementation
Our sustainability framework
We transform for a more sustainable world
Embedding sustainability / ESG in governance and processes
Setting measurable sustainability / ESG targets
We are committed to reducing net GHG emissions to zero by 2050. We seek to contribute directly to the implementation of the UN Global Compact, Sustainable Development Goals, and the Paris Agreement.
Progress evaluation and continuous refining
We aim to benchmark our continuous improvement using ESG ratings provided by leading ESG ratings agencies and seek to improve our ESG ratings.
Strengthening disclosures
We seek to disclose the Group’s progress by using globally recognized standards and formats suited to a broad range of stakeholder needs.