Through 5 organic committees (including 2 regulatory) that directly support the Board of Directors, our corporate governance ensures inclusive, participate, and representative decision-making.
This structure allows us to respond to both our needs as a Group and those of our stakeholders, as the decisions made are effectively implemented throughout the operation.
Evaluation and Compensation Committe
Purpose
In order to encourage the Company’s competitiveness, under a sustainable growth approach, the Evaluation and Compensation Committee ensures that Grupo Peña Verde has the necessary talent and organizational culture, especially for key positions such as senior management.
Planning and Strategy Committee
Purpose
To support to the Executive Chairman’s Office in the execution and development of the business strategy, as well as to support the adoption of the best corporate governance and internal control practices.
In this regard, it is important to mention that the Planning and Strategy Committee complies with Article 69 of Mexico’s Insurance and Bonding Institutions Law (LISF, for its Spanish acronym) to implement corporate governance and internal control; therefore, it has established policies and procedures related to:
Technology and Transformation Committee
Purpose
To generate value for clients and stakeholders through the development and comprehensive digital transformation of the Group by incorporating new technologies and market trends into the Company’s operating processes.
Audit and Corporate Practices Committee
Purpose
To oversee compliance with internal regulations established by the Board of Directors, as well as with applicable legal and administrative provisions. Likewise, it shall ensure that the financial and operating information is prepared and reported responsibly and transparently.
Therefore, the Audit and Corporate Practices Committee supports the Board of Directors on Internal Auditing matters
Investment and Financing Committee
Purpose
In accordance with current regulations and adhering to the thresholds proposed by the Risk Committee, which have been approved by the Board of Directors, the Investment and Financing Committee establishes the Company’s investment policy and strategy
In addition, Grupo Peña Verde has established other committees for specific operational purposes:
Tax Committee
Purpose
To oversee that each subsidiary fully complies with current tax regulations, as well as to analyze initiatives and their effects on the operation. To this end, the Tax Committee assesses the latent risks in this front, establishes and approves all of Peña Verde S.A.B.’s tax guidelines, and standardizes them among subsidiaries.
In this sense, tax risks are identified individually for each subsidiary, the Tax Committee analyzes such risks and formulates a group-wide criterion, establishing the oversight and follow-up framework for each subsidiary
At the end of 2021, we do not have a defined company-wide tax strategy.
Sustainability Task Group
Pursuant to Grupo Peña Verde’s strong Environmental, Social and Governance commitment, during 2021, the Company established a Sustainability Task Group, whose main purpose is to ensure that the strategy, as well as its execution, follow a sustainable approach.
This Task Group reports directly to the Planning and Strategy Committee.
