New internal advisory commission
It has created a Sustainability Commission on its Board of Directors, thereby reinforcing its commitment to ESG matters.
![[Img # 52780]](https://empresaexterior.com/upload/images/06_2023/3451_consejo-administracion-cofides-rd.jpg)
COFIDES has created a Sustainability Commission at their Board of directors which will help the Company remain at the forefront of best practices in sustainability in the Spanish financial sector.
This new internal commission, of an advisory nature, will aim to promote sustainability both in the activity of COFIDES and in that of the companies it finances. The new body joins the Audit and Risk Committee to involve the Board of Directors in the continuous supervision of these relevant aspects for the Company's business and thus improve the corporate governance practices.
With the creation of the Sustainability Commission, the Company fulfills one of the objectives set in its 2022-2024 Strategic Plan
The Sustainability Committee will have powers of advice, guidance and supervision of aspects linked to sustainability, both in the business area and in its internal policies, procedures and corporate actions, without prejudice to the functions that are the responsibility of the Audit Committee and Risks, especially those related to the continuous supervision of non-financial information and the management of non-financial risks.
The general director of COFIDES, Miguel Tiana, commented that this new commission has been created “in response to the need to continue at the forefront of sustainability and to deepen the assessment and mitigation of the risks associated with environmental, social and governance factors, as well as the analysis of the impact of investments on society. Furthermore, he has pointed out that “the regulatory evolution relating to the obligations of disclosure of non-financial information of companies makes it particularly important to arbitrate internal formulas that favor the adequate and continuous supervision of these aspects by our Board of Directors.”
The General Meeting of Shareholders has approved the modification of the corporate statutes, necessary for the creation of this new body.
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