A strategy and management based on sustainability

Our strategy sets out the three areas the company relies upon to address the energy transition process and thus move towards a more sustainable energy model.

 

Our sustainability strategy is implemented through our Sustainable Management Model, which is based on integrating the following key aspects:

  • A governance model that defines responsibilities in terms of quality, excellence and sustainability at the various organisational levels, and involves all Enagás management.
  • Evaluation tools to identify areas for improvement in the company’s various management areas and in the relationship with stakeholders.
  • A specific action plan defining and comprising the lines of action for the areas identified for improvement. 

 

We have a Sustainable Management Plan encompassing innovation and continuous improvement initiatives to achieve sustainable results in the economic, social and environmental spheres. The Plan is structured according to the material issues identified with our stakeholders.

Learn about the main lines of action of our 2022 Sustainable Management Plan.

  • Planning for the 2022 Board appointments, taking into account good governance recommendations regarding the number of Board members and gender diversity on the Board.
  • Maintaining the Board’s level of independence.
  • Holding, for the third consecutive year, the General Shareholders’ Meeting of 2022 as a sustainable event in accordance with the ISO 20121 standard.

  • Certification of the Corruption Prevention Model according to the ISO 37001 Anti-Bribery management systems standard.
  • Training for contractors and suppliers on the Code of Ethics.
  • Approval and publication of a Crime Prevention Policy.
  • Approval and publication of a Conflicts of Interest Policy.
  • Development of a penalties procedure in connection with due diligence in relations with third parties, within the framework of our Compliance Model.
  • Internal review to oversee the proper functioning of the Compliance Model.

  • Dividend €1.72/share (+1% vs. 2021)
  • Net profit ~ €430 M (+6.3% vs. 2021)
  • International asset turnover
  • Solid and visible cash generation, which will allow us to reduce net debt for the second consecutive year and continue to maintain a solid and optimal balance sheet structure.
  • Certification of the Asset Management System according to ISO 55001.

  • 2022 environmental objectives and targets programmes.
  • Plan to minimise waste generation and increase waste recovery and/or recycling treatments.
  • Expansion of linear infrastructure areas with vegetation control through the use of extensive livestock farming.
  • New initiatives for the valuation and monetisation of environmental impacts.
  • Transparency in risk and water management (CDP Water).
  • Water Management Plan.

  • 2022 Energy Efficiency and Emissions Reduction Plan.
  • Development of a computer application for the registration of venting at regasification plants and underground storage facilities.
  • Continued development of projects and analysis of top-down methane emissions measurement and quantification methodologies to advance the reconciliation of bottom-up technologies in order to improve data uncertainty.
  • Performance of an annual leak detection, quantification and repair campaign at all facilities.
  • Definition of a long-term offsetting approach that prioritises nature-based solutions and is in line with the evolution of voluntary carbon markets.

  • Updating of the Enagás Group’s Social Action Strategy.
  • Membership of the LBG (London Benchmarking Group) working group and adoption of the associated methodology.
  • Updating of the volunteer platform to enable direct donations and pro bono work, among other actions, and the incorporation of gamification processes.
  • Volunteer activities focused on team building and improving the social and occupational integration of vulnerable groups.
  • Volunteer activities with an impact on the environment.

  • Improved digitalisation of the company’s Crisis Management process.
  • Preparation of lessons learned from incidents and dissemination among Enagás professionals and contractors.
  • Minimisation of risks derived from digital transformation, promoting the right to disconnect through awareness-raising tools.
  • Analysis and verification of the effectiveness of the Crisis Manual through simulations.
  • Improvement of cyber risk management in the life cycle of suppliers.
  • Enhancement of cybersecurity measures in industrial information systems.
  • Performance of a black-box and white-box penetration test to assess the maturity level of security controls on a computer system.

  • Review of the prevention and action protocol for all forms of harassment in the workplace.
  • Development and approval of a Diversity and Inclusion Policy for the company.
  • Launch of the workplace climate survey as part of the Global Employee Listening strategy.
  • Dissemination of the Second Enagás Equality Plan.
  • Recertification of the Bequal seal as part of Enagás’ commitment to the inclusion of people with disabilities.
  • Establishment of a diversity and inclusion governance model.
  • Launch of initiatives to attract female talent in operational positions.
  • Implementation of upskilling and reskilling initiatives to promote the acquisition of skills to enhance the employability of our professionals.

  • Update of the supplier approval procedure.
  • Update of the supplier reliability assessment.
  • Launch of a satisfaction survey for Enagás suppliers.

 

We work together with all our stakeholders to achieve optimal levels of dialogue and collaboration that allow us to identify and cater for their needs and expectations in our management plan and to implement initiatives that create shared value. We also provide them with the opportunities and means to express their demands and concerns. In addition, we carry out specific actions to minimize the risks associated with stakeholder engagement, such as a periodic review of communication and relationship channels, identification of the most vulnerable stakeholders, etc.

We have a stakeholder map defined at group and local level, that is, for each of our facilities. It includes all local operations and all management areas involved, who participate in the identification, prioritisation and consultation process each year.

Our risk control and management model establishes mitigation actions for each of the risks identified, including reputational risks that may arise from stakeholder management.

 

Our stakeholders by sphere of relationship

 

 

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Sector regulation

Ministry for the Ecological Transition and the Demographic Challenge, National Commission on Markets and Competition (CNMC), European Network of Transmission System Operators for Gas (ENTSOG), international regulatory bodies and European institutions

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Share listing and stock market

Investors, rating agencies, analysts and the National Securities Market Commission

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International development

Business partners and suppliers

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Financing

Financial institutions

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Business operation

Employees, customers (transmission companies, shippers, distributors and direct consumers in the market), the Spanish public administration and suppliers

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Reputation

The media

        

How we work with our stakeholders

When the company carries out a strategic update, the first thing we do is identify stakeholders for each area of activity based on the following criteria:

  • The company’s profile and activity
  • The Enagás value chain
  • The strategy
  • The sustainability strategy
  • The risks and opportunities of the gas sector
  • The regulatory framework, regulations, international agreements, relevant voluntary standards
  • Investor demands (financial and non-financial issues)

Once the stakeholders have been identified, we prioritise them by assessing their degree of influence and importance for Enagás, taking into account the criteria mentioned in the identification phase.

After the stakeholders have been identified and prioritised, and based on the results obtained in the prioritisation phase, we select the communication channels and define the key messages for each group:

Level of influence Level of importance Stakeholder description Strategy Examples of communication channels
Low Low Require minimum efforts and supervision Information
  • Corporate website
  • Annual Report
  • Newsletter
  • Meetings
High Low May be important to influence other powerful groups Information
  •  Corporate website / specific site
  • Annual Report
  • Newsletter
  • Periodic meetings
Low High They are powerful but with a low level of interest in corporate strategies. They are generally passive, but can suddenly emerge as a result of certain events, moving towards a more influencing position.

Dialogue

  • Surveys
  • Specific communication campaigns
  • Focus group
  • Periodic meetings
High High They are powerful and highly interested in the strategies of the Company and whose feedback must be considered for the assessment of new strategies.

Collaboration

  • Office/Helpdesk
  • Sessions about specific issues
  • Meetings