CAP’s good governance practices are a source of value creation and a fundamental requirement to maintain the confidence of its stakeholders.
The CAP Group is legally incorporated as an open stock company. Its Board of Directors is made up of seven board members that remain three years in office and can be reelected indefinitely. One of the Board’s functions is to establish the company’s strategic direction, approve its policies, and monitor its creation of value and efficient use of its resources, supervising its performance, risks and management control systems, including its sustainability. In July 2016, Mr. Tadashi Omatoi, President of Mitsubishi Chile and former CEO of MC Inversiones Limitada (MCI), became a board member to replace Mr. Tokuro Furukawa, who submitted his resignation.
The Board of Directors is assisted in its functions by:
The Board of Directors establishes and updates company priorities, strategies and policies with respect to sustainability (including those aspects related to governance, ethics, safety, inclusion and diversity, relationship with stakeholders, the environment, society and labor) and delegates in the Group’s general management and the companies’ senior management the development, follow-up and evaluation of such topics. It is incumbent upon each Group company to set specific targets and to address them ensuring their compliance. On the other hand, the sustainability issues are reported to the companies’ board of directors.
The company has a Corporate Sustainability & Human Resources Department (which is replicated in each of its subsidiary companies) and a Sustainability & Innovation Committee, which is the formal corporate instance for the discussion of strategic guidelines on these issues.
During 2016, the Group continued to make progress in the management of the priorities established in its Strategic Sustainability Pillars. It has established the instance for the governance of these topics, the technological support systems, as well as the indicators and policies on issues of sustainability and persons.The Board approved such policies, as well as the sustainability risks map and the stakeholder relations map. Additionally, toward the end of 2016, a training opportunity on legal matters, risks and sustainability was provided to board members.
The Group has developed indicators (KPI) in order to measure its performance in the different sustainability spheres: occupational safety & health, quality of employment, development, attracting and retaining talents, diversity, contributing to local economic and social development, the environment, environmental compliance and ethics. Twenty-two (22) indicators are reported quarterly to the Board of Directors.
CAP has implemented ISO 9001 (quality), ISO 14001 (environmental), and OHSAS 18001 (occupational safety & health) management systems into its companies2.
In 2016, the ESG Compass survey was applied in order to measure the perception of CAP’s workers regarding the company’s performance on environmental, social and corporate governance issues. A total of 482 workers form the different companies of the Group participated in the survey; which represents a response rate of 84%, with respect to the total number of persons considered in the study.
A relevant bit of information obtained from this research is that more than 70% of all CAP Group workers “agrees” or “strongly agrees” with the performance of the general management of the company in its environmental, social and corporate governance. The foregoing implies that the company is situated in a medium-to-high range of performance having a significant improvement potential.
Note: Puerto Las Losas (CAP Infrastructure area) has yet to implement these three (3) certifications.
1It only includes Cintac. Tupemesa has only implemented ISO 9001 covering 100% of its workers. TASA, on the other hand, has implemented OHSAS 18001 and ISO 9001 covering 100% of its staff.
In 2016, the CAP Group was awarded several awards and recognitions for its sustainability performance.
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OCCUPATIONAL SAFETY |
Excellence in safety performance
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ETHICS AND TRANSPARENCY |
TOP TEN in the Corporate Transparency RankingThe CAP Group was ranked among the 10 companies with the highest degree of transparency among open stock companies (corporations) listed in the stock exchange. This ranking has been prepared by the business consulting firm, IdN Business Intelligence, since 2010.
The CAP Group - one of Chile’s top 5 companies with the highest quality of information.According to the Informe Reporta Chile report, that distinguished the CAP Group and other companies listed under the IPSA preferred stock index that submitted top-quality financial reporting, as well as information of a sustainable nature. This report is prepared in Chile by IP-Financialcom and by the Sustainability Center of the Adolfo Ibáñez Business University. |
SUPPLIERS |
CAP Acero stands out as the promptest payer company to small-and-medium-size Pyme companies in Chile.During 2016, CAP Acero led the ranking of prompt payers to small-and-medium-size Pyme companies, prepared by the Commodities Exchange (BPC, in its Spanish acronym) and the Association of Entrepreneurs (Asech, in its Spanish acronym); a measurement whose objective is to improve the payment terms and the financing of the country’s small and medium-size companies. |
TRAINING |
Contribution to trainingCAP Mineria was distinguished by the Sence national training service for its contribution to training and employment, under the “+Trained” category |
THE ENVIRONMENT |
Progress in carbon footprintRecognition awarded to Cintac by the Ministry of the Environment in recognition for the calculation and verification of Corporate Coal Footprint. |
