Smart Power. Sustainable Solutions for the Future of Energy
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Smart Power. Sustainable solutions for the future of energy. DMA – Disclosures on Management Approach Supplement to the Integrated Annual Report 2017 Disclosures on Management Approach In this document, we present an overview of VERBUND’s central management systems. Date: 31 December 2017 Contents Strategy ............................................................................................................................................... 5 Corporate Governance ..................................................................................................................... 5 The Austrian Code of Corporate Governance ........................................................................ 5 Implementation of the Code of Corporate Governance at VERBUND ................................ 5 Management board ................................................................................................................... 6 Supervisory board ..................................................................................................................... 6 Annual General Meeting .......................................................................................................... 7 Rules of procedure .................................................................................................................... 8 Minority protection in stock corporation law ......................................................................... 8 Stakeholder management ................................................................................................................ 9 Stakeholder identification ........................................................................................................ 9 Advocacy of interests .............................................................................................................. 16 External memberships and representation on boards and panels .................................... 17 Commitment to society .......................................................................................................... 19 Endorsement of external initiatives ....................................................................................... 19 Secure supply of electricity in a liberalised market ..................................................................... 22 High-performance power plant portfolio ............................................................................. 22 Grid security and grid expansion ........................................................................................... 23 Energy transition and energy storage .................................................................................... 23 APG 2030 Master Plan and network development plan ...................................................... 24 Development and impact of infrastructure investments ............................................................ 25 Additional benefits of our investments ................................................................................. 25 Supply chain .................................................................................................................................... 26 Organisational allocation of procurement activity .............................................................. 26 Environmental management ......................................................................................................... 27 Environmental management systems and certifications .................................................... 27 Use of power and materials .................................................................................................... 28 Energy efficiency of VERBUND’s thermal power plants ..................................................... 28 Greenhouse gas emissions and climate protection ............................................................. 29 Airborne emissions ................................................................................................................. 29 Dealing with polychlorinated biphenyls (PCBs) .................................................................. 30 Electric and magnetic fields ................................................................................................... 30 Biodiversity .............................................................................................................................. 30 Water management ................................................................................................................. 32 Waste management ................................................................................................................. 32 Environmental costs ............................................................................................................... 33 Innovation and research ................................................................................................................ 33 The VERBUND model of innovation ..................................................................................... 33 Innovation at VERBUND ........................................................................................................ 33 Employees........................................................................................................................................ 33 Human resources management ............................................................................................ 33 Personnel planning ................................................................................................................. 34 Recruiting, personnel marketing and employer branding ................................................. 34 Types of employment and benefits offered .......................................................................... 35 Personnel development .......................................................................................................... 35 Executive development .......................................................................................................... 36 Health management ............................................................................................................... 36 Maintaining a work-life balance ............................................................................................ 36 Succession planning ............................................................................................................... 37 Apprentice training ................................................................................................................. 37 Diversity management ............................................................................................................ 37 Labour-management relations .............................................................................................. 38 Occupational health and safety technology ......................................................................... 39 Compliance management .............................................................................................................. 41 Code of Conduct, guidelines .................................................................................................. 41 Organisation ............................................................................................................................ 41 Compliance risk survey .......................................................................................................... 41 Prevention, training and information ................................................................................... 42 Internal organisation ...................................................................................................................... 42 Crisis management ................................................................................................................. 43 Budgeting and medium-term planning process .................................................................. 43 Opportunity and risk management............................................................................................... 44 Our approach (objectives, definitions and design) .............................................................. 44 Structures and processes ........................................................................................................ 45 Internal Audit .................................................................................................................................. 47 Sustainability management ........................................................................................................... 48 DMA – DISCLOSURES ON MANAGEMENT APPROACH 5 Strategy The Group Executive Board is responsible for developing the Group’s strategy. It determines the VERBUND’s strategy: corporate objectives together with the strategy team and the managing directors of the Group subsidiaries www.verbund.com > About VERBUND > as well as the heads of key business areas. Company > Corporate philosophy Corporate Governance The Austrian Code of Corporate Governance The Austrian Code of Corporate Governance was presented to the public in September 2002. Since then, The Austrian Code of it has been adapted and updated several times. The version currently in effect is dated 1 January 2015. In Corporate Governance is available on the website accordance with its international objective, the Code is intended to strengthen