ESG risk management
GCO has a specific Management division (Risk Control Management) that is responsible for identifying, quantifying, managing and mitigating the principles risks to which GCO and its companies are exposed, including environmental, social and corporate governance risks (ESG).
The ESG risks are identified in GCO's risk map and, from it, their probability of occurrence and the potential negative effects that could arise if they occurred are analysed and mitigation mechanisms are put in place to prevent and manage them properly if they were triggered.
ESG factors in the selection and management of suppliers and collaborators
GCO includes, among its supplier selection criteria, their socially responsible practice in the economic, social and environmental fields. With this, all suppliers collaborating with GCO are required to conduct their activities and service to GCO companies responsibly during the provision of their services.
With regard to collaborators, before receiving any assignment, they must adhere to GCO's Code of Ethics, which includes, the principle of sustainability, making this a prerequisite for the incorporation of new collaborators by GCO companies.
Likewise, the network of professionals involved in accidents and assessments advances the implementation of more sustainable repair processes, based on environmental and social criteria.
Sustainable growth satisfies the needs of the present without compromising the ability of future generations to meet theirs, guaranteeing the balance between economic growth, social well-being and the environment. Changes in consumption patterns, new energy sources and digital transformation are essential to promote sustainable growth.
Since February 2023, the investment fund products that make up GCO's portfolio have explicitly incorporated environmental and/or social considerations into its management in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (SFDR).
Furthermore, GCO continues to work on the development of innovative and sustainable solutions, sensitive to changes in consumption patterns, and that promote the implementation of new technologies and energy sources, thus contributing to sustainable growth.