The main governing body, the Board of Directors, is responsible for the supervision, evaluation and monitoring of Urbaser’s strategy, the aim of which is to seek profitability through activities that generate long-term value. Another of the mainstays of Urbaser’s governance model is compliance and internal audit, developing and implementing standards and controls that ensure best practices for the company.
An ethical corporate culture of good governance and management transparency is best reflected in the Urbaser’s long history of growth, backed by the confidence placed in Urbaser by the Chinese consortium led by China Tianying (CNTY), a leading company in environmental services, through FIRION INVESTMENTS.
URBASER’s governing bodies
The governing bodies that represent and administer URBASER are:
- General Meeting
- Board of Directors
- Chief Executive Officer
The General Meeting is the representative body of the partner/partners through which decisions are taken in matters which, in accordance with the provisions of the Company’s Articles of Association, come under its remit.
Board of Directors
The URBASER Board of Directors is the highest management and representative body of the Company. The functions of the Board of Directors extend to all matters that are not expressly reserved by law or the Articles of Association for the General Meeting. The main functions performed by the Board of Directors include the following:
- Judicial and extrajudicial representation of the Company.
- Management and administration of all matters concerning the corporate purpose of the Company and its assets and businesses.
The Chairman of URBASER, elected by the Board of Directors from among its members, acts as representative of the Company.
Chief Executive Officer
The Chief Executive Officer of the Company, elected by the Board of Directors from among its members, acts as representative of the Company. The functions delegated to him are as follows:
- Steering and management of everyday affairs, directing, coordinating and checking the activity of the personnel under his charge.
- Adoption and execution of operational, strategic, organisational and managerial decisions.
Integrated risk management and compliance model
The main function of the Audit and Control Department is to support the Board of Directors in its general duties of surveillance, supervision, monitoring and mitigation of risks and supervision of the company’s internal audit services.
The Urbaser regulations/Risk Management Policy make up the Corporate Governance risk management process in relation to organisation, planning and strategy, management, corporate policies, values and ethical culture. These include defining the strategy and appetite for risk, functional segregation of the risk-management and risk-taking areas and “zero tolerance” towards the commission of illegal acts.
The Code of Ethics and the crime prevention manual, guarantee of compliance
Urbaser has an Ethical Code that lays down the principles of behaviour guiding the relations between Urbaser employees and the relation between employees with their stakeholders. The ethical principles included in the Code apply to all directors, managers and employees of the Group companies and are mandatory.
Employees can use the Ethical Channel for whistleblowing on compliance with these principles on this link: email@example.com.
The company also has a Manual of Prevention and Response to Crimes. This is a structured control system, the aim of which is to mitigate the risk of committing crimes from which criminal liability may ensue for legal entities.