Sustainable management model of affiliates

The Enagás affiliates management model is structured around the transfer of critical management standards and the governance model.

Critical management standards

Affiliate companies have autonomous management. The influence exerted, and the monitoring performed by Enagás is through the transfer of the following critical management standards, defined according to the material issues of the company.

Enagás is also conducting internal audits in order to verify the solidity of internal controls associated with the processes at greatest risk in companies (see the chapters on ‘Ethics and integrity’ and ‘Local communities’).

In affiliates where Enagás has control, the company increases its influence in the company through the progressive implementation of management models in those more relevant areas. This is the case of GNL Quintero, a company in which Enagás acquired control in 2017. This report provides information about this company on a consolidated basis and indicates the areas of management in which work has taken place in recent months (as is the case with ICFR).

Critical management standards

Financial and operational excellence

Financial and operational excellence
 

Financial excellence:

  • Planning and financial management and treasury
  • Insurance
  • Management control
  • Taxation
  • Financial reporting
  • Accounting and billing

Operational excellence:

  • Quality management system
  • Operational efficiency
  • Asset ranking
  • Maintenance management system
  • Operation
  • Warehouse management
  • Customer service
  • Affiliate programming management
  • Measurement
  • Balance sheet and distributions

Good Governance

Good Governance
 
  • Regulation of operation
  • Board remuneration policy
  • Company governance (agreements, working groups, etc.)
  • Risk map: identification and monitoring of risks
  • Internal control (general and process controls)
  • Internal audit

Ethics and compliance

Ethics and compliance

 
  • Code of conduct
  • Whistleblowing channel

People

People
 
  • Remuneration policy
  • Contractual relations and union rights
  • Negotiation and representation
  • Human resources policy
  • Development of resources (training and selection)
  • Workplace climate

Health and safety

Health and safety
 
  • Protection of assets
  • Health and safety management system
  • Emergency plan
  • Risk analysis
  • Health surveillance

Local communities

Local communities
 
  • Stakeholders management model
  • Local development actions

Environmental management

Environmental management

 

  • Environmental management system
  • Environmental impact studies

Climate change and energy efficiency

Climate change and energy efficiency

 

  • Energy efficiency and emissions reduction measures

Supply chain

Supply chain

 

  • Approval of suppliers
  • Procurement and reporting (purchasing processes)
Governance model

For each affiliate, a manager is defined by Enagás to act as the coordinator. Its responsibilities include ensuring the alignment of the actions to be carried out in the company with the Enagás strategy.

Critical management standards are transferred through working groups led by the coordinator of the affiliate, involving members of the General Management of Enagás who co-lead its oversight matters. These working groups are instruments for the alignment of positions and ensuring the operation of the Board of the affiliates, where decisions agreed in the groups will be enacted.

The working groups are the only communication channel between the subsidiary and the partners (see the chapter on ‘Good Governance’).

The Management Committee for the Management of Affiliates, with representation of the involved Directors of Headquarters, supervises the critical decisions of the groups and reports to the Enagás Management Committee.