06
Ambition at
the highest level
Construction of Pumarejo bridge, Barranquilla, Colombia
Purpose
and Values
We seek to strengthen a culture based on ethics and commitment to sustainable development
VISION
Develop infrastructures that promote the well-being and sustainable development of the regions where we operate, creating value for all our stakeholders
MISION
Be a benchmark in infrastructure development
PURPOSE
Move society forwards to a sustainable future through the development and management of infrastructures that generate a positive social, economic and environmental impact
POSITIONING
We are a global group that is committed to meeting any challenge in order to transform our society; working with effort and passion to improve people’s infrastructure and services.
VALUES
Values guide us internally and with our external audiences to build our competitive position and define us in the marketplace
VALUES
Governing
Bodies
Sacyr General Shareholders’ Meeting
GENERAL SHAREHOLDERS’ MEETING
The General Shareholders’ Meeting is the sovereign body in which all the duly convened shareholders of the Company meet and participate in order to decide on matters within their competence.
The General Shareholders’ Meeting is responsible for deciding on matters attributed to it by law or the Company’s bylaws, and in particular, and by way of example only, for approving the annual financial statements, the allocation of profits and the approval of corporate management, as well as the appointment and removal of directors, the amendment of the Company’s bylaws, and the approval of the directors’ compensation policy.
Sacyr complies with corporate governance best practices
GOOD GOVERNANCE
PRACTICES
Good governance practices generate value for our stakeholders.
- Sacyr has created a Sustainability and Corporate Governance Committee and a Sustainability Committee.With this, Sacyr wants to promote and make visible the work it is already carrying out in terms of sustainability and collaboration with all its stakeholders in the fight against climate change, the promotion of diversity and conciliation, ensuring health and safety and promoting the positive social impact of its activities. The Sustainability and Corporate Governance Committee is mainly responsible for supervising and proposing corporate environmental, social and governance policies, known by the acronym ESG (Environmental, Social and Governance).
- The Sustainability Committee is responsible for developing and executing actions related to sustainability within a strategy aligned with the SDGs (Sustainable Development Goals). This Committee is chaired by Manuel Manrique, Chairman and CEO of the group, and is made up of the Corporate General Management, the Talent Management and HR General Management, the Communication and Sustainability General Management, the Business Legal Department, the Secretary of the Board of Directors and a rotating CEO from the business areas.
- A complete review of Sacyr’s compliance with the recommendations of the Code of Good Governance (CBG) has been carried out as a result of the partial amendment of the Code by the CNMV in June 2020.
- During the year, the Board of Directors has updated and reviewed the existing Corporate Policies, and has also approved the following Policies:
- Biodiversity Policy.
- Water Policy.
- Climate Change Policy.
- Information Security Policy.
- Occupational health and safety Policy.
- Human Rights Policy.
- Quality, environment and energy management Policy.
- Sustainability Framework Policy.
- Innovation Policy.
- Diversity and Inclusion Policy.
- Financial Information Communication Policy.
- Sacyr ́s Non-Financial and Corporate Information Communication Policy
- Supply Chain Management Policy.
- Anticorruption Policy and Relationship with Public Officials.
- Gifts and Hospitality Policy and its development procedure.
- Sponsorship and Donations Policy and its development Procedure.
- Personal Data Protection Policy.
- Crime Prevention Compliance Policy.
- Regulatory Compliance Policy on Antitrust.
- Sacyr has increased the percentage of compliance with the recommendations of the Code of Good Governance applicable to it. Compliance with these amounted to 91.23%, an increase of 20% with respect to the previous year.
- Sacyr is aware of the importance of having a balanced participation of women and men in the organization’s governing bodies. In this sense, female participation has been progressively increasing in the Company’s Management Board.
Innovation
as a driver of
development
Artificial vision model for infrastructure inspection
INNOVATION AS A DRIVER OF SUSTAINABLE DEVELOPMENT
At Sacyr, we innovate to promote the sustainable development of the planet and enhance people's quality of life through the implementation of major infrastructure and services projects, for and by citizens.
At Sacyr creativity and innovation increase with each of the projects we undertake
- A clear business focus that allows us to prioritise those innovation projects that most contribute to improving the infrastructure users’ experience and to reducing funding costs.
- An active governance of innovation, where the various Innovation Departments and Committees are responsible for establishing innovation and R&D guidelines, coordinating initiatives between the different business areas and structuring initiatives that incentivise innovation.
- An innovation culture that promotes an open innovation model, based on cooperation between external agents, such as entrepreneurs, scientists, universities and business partners; and the intrapreneurs that form part of Sacyr success.
- A solid process of enhancing innovation, by obtaining project certificates from public authorities and by seeking out more advanced patents for our R&D+i developments.
Number of projects
under development 2020
Employees involved
in innovation initiatives
Number of training hours
in innovation
Percentage of net income profit
invested in innovation
Number of projects
launched 2020
Number of employees
innovation
Investment in
clean technology
Number of certified
companies
INNOVATION STRATEGY
At Sacyr, we define innovation as new ideas that, when applied to our business, create value. Value for our customers, shareholders, employees and society.
Our commitment to innovation is one of the company's strategic pillars with the aim of ensuring our company’s competitiveness. In the short, medium and long term through sustainable growth.
The innovation strategy established by management is based on:
DEVELOPMENT
An innovation of a strategic nature that affects all the businesses and activities carried out by the Sacyr group. This model is focused on sustainable development, taking advantage of opportunities and new business models, new technologies and driving digital transformation.
THE FUTURE
Forward-looking innovation that takes into account society's new needs, habits and trends.
MODEL
An open innovation model that fosters the creation of an ecosystem based on cooperation with external agents, such as entrepreneurs, scientists, universities and business partners; and the intrapreneurs that form part of our success.
Attracting the best innovative talent and developing our employees, regularly encouraging and challenging their ability to innovate, and supporting safe environments to create new value propositions.
TECHNOLOGIES
The implementation of projects that allow us to assess the impact of the most disruptive technologies on our activities, supported by new methodologies based on rapid decision-making.
A solid process of enhancing innovation, by obtaining project certificates that bring external recognition to our system.
SYSTEM
All of the above is supported by an R&D&I management system in accordance with the UNE 166002:2014 standard, the purpose of which is to identify, manage and maintain innovation activities and processes, control all possible technological resources more efficiently and enable the company to become more adaptable to new market environments.
INNOVATION MODEL
at Sacyr
Governance: R&D Management System and Certifications
Our innovation management process has two governing bodies (Innovation Investment Committee and Innovation Operating Committee) that direct and monitor the definition of strategic priorities, investment, technological and market alliances, as well as compliance with and deployment of the Innovation Policy throughout the company.
Open Innovation
Teamwork is the key to our success. For this reason, we seek the best talent, internal and external, with which to drive new ideas that contribute to building a better, more sustainable and safer world.
From the Open Innovation area, we promote a technological observation and foresight system that identifies opportunities and challenges for Sacyr and detects innovation needs in processes or services.
Projects
We drive forward projects that seek the implementation of the proposals that have been identified in the open innovation programs and provide valuable answers to our challenges.
We manage these innovation initiatives through agile methodologies that allow us to show the value provided by the projects in a short period of time, making decisions about their evolution in a flexible way, scaling those projects that are successful and iterating and redefining the hypotheses in the rest.
We have developed initiatives based on the Internet of Things for the management of our plants and machinery on site, generating real-time knowledge of the status of our assets that allows us to make more agile and efficient decisions.
Culture
At Sacyr, we innovate to improve people's quality of life. We transform ourselves because we believe in a better, safer and more sustainable planet.
To this end, we carry out several initiatives:
- Inspirational innovation sessions:once again this year, we brought the latest trends in innovation and digital transformation to all Sacyr employees through our iFridays.
- Training and awareness-raising: Innovation is part of the training itineraries of Sacyr employees and is integrated with various formats (courses, podcasts, videos).
- Internal recognition: at Sacyr, we recognize and reward talent, effort and dedication to innovation in the company.
- Sacyr Innovation Awards: The winning startup of the 10th edition of the Awards in Spain, was the English firm Emitwise, which receives an amount of 50,000 euros to develop its carbon emissions measurement solution for Scope 3.
Communication is a fundamental part of a company's transformation process.
Teamwork is our key to success
Risks
AEDAS project in Alcalá de Henares, Madrid, Spain
COMPREHENSIVE INTEGRAL RISK MANAGEMENT SYSTEM (CRMS)
Sacyr is committed to respectful compliance with all legal obligation to which it is subject in any country in which it carries out its activities
Risk management process through the Comprehensive Risk Management System (CRMS)
1
Planning
Based on the company's strategy and objectives, this stage activates the necessary management tools for key business decisions.
2
Identification
Activities are carried out to identify critical risks associated with each key decision.
3
Assessment
Activities are carried out to assess, filter and prioritize critical risks according to impact scales, tolerance thresholds and other metrics.
4
Treatment
The activities at this stage are aimed at defining the response strategy for each specific risk as well as implementing the appropriate response plans.
5
Monitoring
In this stage the evolution of pre-existing risks is measured, as well as new risks, evaluating the effectiveness of the response plans, and initiating Contingency Plans in case the established tolerances are exceeded.
6
Control
This stage includes the internal control and assurance activities carried out by the Risk Control and Management Department, as well as the capture of lessons learned for the continuous improvement of the group.
Regulatory
Compliance
Pirámides-Tulancingo-Pachuca Highway, Mexico
QUERIES AND COMPLAINTS LINE
The Queries and Complaints Line (codigoconducta@sacyr.com) is the channel created by the Sacyr Group so that the members of the organisation or third parties can denounce, in a safe confidential manner, any possible breach of the Code of Conduct and in, general, of our Regulatory Compliance, Crime Prevention and Fair Competition Model, as well as any other applicable internal or external regulations.
In addition to this Line the Sacyr Group has a second line of complaint, in this case, an Anti-harassment Hotlinedenunciaacoso@sacyr.com).
The Regulatory Compliance Unit, with the supervision of the Audit Department, is the body responsible for receiving, processing and managing both Lines, safeguarding confidentiality and the rights of the affected parties and guaranteeing the protection of the complainant.
REGULATORY COMPLIANCE, CRIME PREVENTION AND FAIR COMPETITION MODEL
Supervision of the correct functioning of our Regulatory Compliance Model corresponds to the Audit Committee, which is supported by the Regulatory Compliance Unit for its operational management.
Among the activities performed in 2020 in relation to this Regulatory Compliance Model are the update of the essential elements of such model.
ANTI-MONEY LAUNDERING MEASURES
The main measures it has in place are:
- Designation of a specific Internal Control Body responsible for the supervision and enforcement of measures to prevent breaches of these regulations.
- Information and dissemination of the Internal Protocol in which the policy and procedures are developed.
- Existence of a system of IT alerts to detect possible risky transactions.
- Specific training in this area for employees and external collaborators.
- Existence of a specific hotline for this area, available both to members of the Organisation and to third parties (sacyr.prevencionbc@sacyr.com)
- Audits by independent external experts.
- Third-party due diligence processes.
- Annual risk self-assessment analyses.
RESPECT FOR HUMAN RIGHTS
Commitment
Protecting the human rights of our employees and those who work with us has been paramount to our way of doing things and our values.
Due diligence
Our approach to project due diligence is to identify high-risk performance areas, prevent and remedy negative social and environmental impacts.
- Identify, prevent, mitigate and account for how it addresses its human rights impacts in all its operations and activities.
- Remedy, to the extent possible, the adverse human rights impact they have caused or contributed to.
- Promote training and awareness-raising initiatives for Sacyr’s stakeholders in the area of Human Rights.
- Actively foster a culture that promotes respect for human rights, as well as behaviours that encourage this respect.
- Voluntary adhesion to public or private agreements in order to make commitments and define actions with the aim of reducing behaviour that contravenes this Policy.
- Obtaining and maintaining certifications in accordance with internationally recognised standards.
- Encourage suppliers to adopt policies that are in line with this Policy.
- Compliance with the applicable requirements related to respect for human rights, as well as the monitoring of recommendations in this field, at a national and international level.
- Active and continuous communication on Sacyr’s actions with regard to respect for Human Rights.
2020 HIGHLIGHTS
- Approval of the Sustainability Framework Policy, which replaces the previous Corporate Social Responsibility Policy.
- Approval of the Human Rights Policy
- Approval of the Supply chain management policy
In 2014, the Sacyr group signed a Framework Agreement with the International Federation of Building and Wood Workers and Comisiones Obreras
Through this agreement the following guidelines are established:
1
Freedom of association and the right to collective bargaining is respected
2
Employment is freely chosen
3
Non-discrimination
4
Protection of migrant workers
5
Child labour is not used
6
Living wages are paid
7
Hours of work are not excessive
8
Health and Safety of the workers
9
Workers’ welfare
10
Specialised training
11
Employment relationship
Transparency
Training of workers in relation to COVID-19, Autovía del Turia, Valencia, Spain
TAX TRANSPARENCY
Sacyr's Total Tax Contribution (TTC) for the year 2020 considering all the territories in which the Group.
Total Tax
Contribution
in 2020
[+9,85%]
| TAXES BORNE | TAXES COLLECTED | |||||
|---|---|---|---|---|---|---|
| TAX CATEGORY (Mill. of €) | 2018 | 2019 | 2020 | 2018 | 2019 | 2020 |
| I. INCOME TAX | 37 | 48 | 47 | 6 | 12 | 8 |
| II. PROPERTY TAX | 7 | 5 | 7 | 0 | 0 | 0 |
| III. EMPLOYMENT RELATED TAXES | 192 | 228 | 211 | 129 | 138 | 162 |
| IV. PRODUCTS AND SERVICES TAXES | 36 | 34 | 27 | 155 | 170 | 251 |
| V. SPECIAL TAXES | 14 | 18 | 11 | 8 | 9 | 1 |
| TOTAL | 286 | 333 | 302 | 299 | 328 | 423 |
