Both the Group's business (i.e., providing services of general interest) and the extent of the operating timeline have caused Acea to become more aware of the social role it plays. Hence, sustainability and corporate social responsibility are typically embedded in Acea's identity, with the Group being committed to reflecting them in its core values and consistent behavioural guidelines, in the provision of management and engagement systems for the stakeholders and in the close monitoring of performance, all with a view to accountability.
TABLE 9 - ACEA TOOLS FOR SUSTAINABLE DEVELOPMENT AND SOCIAL RESPONSIBILITY
Acea pays attention to the initiatives and signals coming from the institutional, national and international context in respect of sustainability and corporate social responsibility matters, as they provide a baseline and guiding lines for such issues. In 2014, special emphasis was placed on the completion of the regulatory process, which culminated with the approval by the European Union Council, of Directive on disclosure of social and environmental information and on diversity empowerment in the composition of administration and control bodies /2014/95/EC). This new regulation, which governs and enhances non-financial corporate disclosure, places Europe at the most advanced levels in light of the importance ascribed to ESG (Environmental Social Governance) issues for the purposes of reaching a sustainable growth.
Bearing out the increasing significance that corporate social responsibility is gaining, other initiatives have surfaced underscoring the cross-cutting nature of the issue and its significance in the European context: consultation on CSR strategy, implemented by the EU, and future commitments; Tender and Licence Directives (see relevant boxes).
PUBLIC CONSULTATION ON THE RESULTS AND FUTURE ROLE OF CSR WITHIN THE EUROPEAN UNION
NEW TENDER AND CONCESSION DIRECTIVES