Governance keeps our corporate sustainability strategy on track. It ensures that our strategy remains effective, and that accountability for our results sits right at the top of our company. Keeping track of our ambitious sustainability goals requires the needed focus and a clear framework of roles and responsibilities.
The complete framework of the sustainability responsibilities is clearly defined and owned by the business.
Board of directors and audit committee
At least once a year, sustainability is on the agenda of Barco’s Board of Directors. The Board discusses strategic progress on Barco’s overall sustainability program as it is an integral part of Barco’s corporate strategy.
Sustainability is also at least once a year discussed on the Audit Committee, with a focus on the Annual Report. The committee also reviews sustainability-related risks as part of it risk management process and is informed about the issues and concerns raised via the Ethics mailbox.
Core Leadership Team (CLT)
At least once a year, sustainability is on the CLT meeting’s agenda. The sustainability strategy and progress status are shared and discussed.
Executive sustainability steering committee
The core members of this committee are our Chief Executive Officer, Chief Human Resources Officer, Chief Financial Officer and Senior Vice President Operations. Depending on the topic, other executive members are invited (Business unit heads, Chief Technology Officer, Chief Digital & Information Officer, Group General Counsel).
They review the corporate sustainability strategy, approve targets and monitor execution, helping to ensure that sustainability is integrated into our business – supporting Barco’s overall goals. The committee meets at least once every quarter. The sustainability office reports directly to this committee.
The sustainability office, which is part of the finance department, champions our company-wide commitment to sustainability performance and transparency towards stakeholders. The office conducts reporting activities and engages with internal and external stakeholders to assess, prioritize, and monitor sustainability focus areas. The office establishes the corporate sustainability strategy, drives processes for sustainability governance, and provides guidance and coordination across business functions. It also sets corporate sustainability targets based on the targets set by the business functions.
Sustainability focus areas are owned by the business. Within the relevant business functions, sustainability workstream leaders are responsible for delivering sustainability targets, managing the sustainability plans and measuring performance. They ensure that sustainability is integrated into Barco’s ongoing business strategy and planning. Each workstream leader is supported by a sponsor, i.e. a senior manager who serves as a sounding board, facilitates decision-making and removes obstacles for the workstream leader. The workstream leaders share progress on sustainability focus areas to the Executive sustainability steering committee.
Sustainability ambassador groups
The ambassador groups are cross-functional groups of highly motivated employees, including the sustainability workstream leaders. They discuss ongoing initiatives and partnerships, suggest new ideas, etc. Led by the sustainability office, they meet at least once every quarter. They also communicate and amplify the accomplishment of key initiatives to all relevant stakeholders.