Risks and opportunities [GRI 103-1]
Risks
- The social, political and economic context of the countries where Grupo Nutresa operates.
- An inadequate corporate behavior that may have a negative impact on the Company’s reputation and stakeholder engagement, and it may cause market losses and legal penalties.
Opportunities
- Maintaining the corporate governance measures and guidelines aligned with high global standards.
- Monitoring and promoting the compliance with the corporate governance by all employees, suppliers, customers and other stakeholders with the aim of collectively mitigating the risks associated with corruption, money laundering and terrorism financing.
- Implementing training and communication programs intended for all the stakeholders in order to strengthen the reporting mechanisms and the correct addressing of the reported cases.
- Formulating and implementing an internal audit plan with the purpose of reinforcing the processes and acting accordingly in anticipation.
- Providing clear, unabridged and timely information through the multiple channels and mechanisms available.
Future outlook and goals for 2030
- Maintaining the level of excellence in the updating, communication, promotion and management of the good corporate governance as it is one of Grupo Nutresa’s crucial pillars of sustainability.
- Permanently seeking higher levels of corporate transparency, an ethical behavior and integrity by means of strategies such as keeping the Company’s internal policies and guidelines updated according to the latest worldwide trends in the field, and watching over their fulfillment at all levels within the Organization.
- Continue promoting the ethical behavior of Grupo Nutresa’s employees and related third parties through the strengthening of the organizational values and the clarity in terms of observable behaviors.
- Continue working on implementing and strengthening processes that ensure the fulfillment of the corporate policies and guidelines in the Company’s day-to-day activities.
- Making progress on the update of its Code of Corporate Governance and corporate policies according to the evolution of international transparency and ethics standards, enabling the Organization to maintain its position at the forefront in the industry.
- Progress on the Dow Jones Sustainability Index rating
Based on the 2019 scores, the Company improved its rating by 18 points in the Corporate Governance chapter of the Dow Jones Sustainability Index, which evaluates aspects such as the structure of the Board of Directors, its efficacy, and the management of risks associated with corruption and bribery. This progress is the result of the increase in the participation of women in the governance bodies, and the implementation, communication and promotion of better variable remuneration standards for key executive staff.
- Communication, promotion and implementation of the Code of Corporate Governance in the Retail Food, Coffee and Biscuits Businesses
Over the year, the Organization completed the implementation of the Code of Corporate Governance in the recently acquired companies Cameron’s Coffee, Naturela S. A. S. and Atlantic S. A. S.
- Investor Relations “IR” Acknowledgment
For the eighth consecutive year, Grupo Nutresa was granted the Investor Relations (IR) acknowledgment from the Colombian Stock Exchange due to its practices in terms of information disclosure and relations with investors.
[GRI 103-1]
Superior Achievement Acknowledgment System
The Superior Achievement Acknowledgment System establishes that 30% of the variable annual compensation of the CEO, the CFO and the Secretary General should be paid with Company share units, and the disposition of such share units is limited until the Executives retire. Part of the remaining balance of the variable annual compensation is accumulated in a bond bank, from where a third part is liquidated on a yearly basis to encourage the Executives to remain in the Organization. Grupo Nutresa’s Appointment and Retributions Committee establishes, for these executives, internal and external metrics associated with financial, social, market, environmental and sustainability indicators, framed within a timeline of 1 to 3 years.