Menu

Corporate Governance

09/04/2017 - 00:30 PM

- + Text size
Print
Corporate Governance

Corporate Governance and Sustainability

One of the pillars of a company’s sustainability is its Corporate Governance system. In fact, a necessary condition for assuring that the interests of all stakeholders are met, is a set of rules defining the criteria for transparency, integrity and accountability of the mechanisms which lead to key decisions. These rules aim at avoiding that the interests of some stakeholders, which could undermine the company’s future sustainability, overcome those of all stakeholders.

For example, Corporate Governance covers issues such as:

  • The Group’s Code of  Ethics, which, in TIM’s case, contains provisions for each stakeholder category and it explicitly refers to the Principles of the UN Global Compact.
  • The system of controls to prevent possible infringements such as bribery and corruption,   which is the object of the tenth Principle of the UN Global Compact.
  • The whistle-blowing procedure, which allows anybody to warn the top management and the Board of Statutory Auditors of alleged violations of the Code of Ethics or any other misconduct by the Company’s personnel.
  • The rules to set the Board's and top management's remuneration (as well as the remuneration itself), which is a crucial element in order to avoid aggressive company’s policies which might eventually damage the company itself.
  • Rules to avoid internal dealings, so as to avoid that the company be used, by those in power, for achieving personal benefits.

Responsibility for monitoring the Group's socio-environmental issues rests with the Sustainability Reporting, Monitoring and Relationship Department, in Administration Finance and Control Department;  sustainability projects and initiatives rest with Corporate Shared Value Project and Development which reports to the Chairman of the Board of Directors.

The Control and Risk Committee acts as a corporate social responsibility overseer, ensuring the consistency of actions carried out with the principles of the Group's Code of Ethics, with the values adopted by the Group and the related laws (Decree 254/2016). The Sustainability Reporting Department periodically reports to the Control and Risk Committee.

The Board of Directors has the task of watching over sustainability activities of the Group, making sure that they are consistent with the Group’s ethical values.The sustainability report, including the materiality analysis, falls under the responsibilities of the Chairman of the Board of Directors. For the approval it is submitted first to the Board of Directors and subsequently to the shareholders’ meeting. During 2016, the Board of Directors met the representatives of Sustainability once.  

Corporate Governance in Telecom Italia

The system of corporate governance adopted by Telecom Italia is focused on

  • leadership of the Board of Directors in strategic decisions, 
  • transparency of decisions, both those concerning the company and those concerning the market,
  • accountability of actions and hence efficiency and effectiveness of the internal control system,
  • strict discipline of potential conflicts of interest and firm principles of conduct for transactions with related parties.

This system has been implemented with the adoption of codes, principles and procedures appropriate to the activities of the company’s organizational and operational components.  

2016 Multistakeholder Forum

The Multistakeholder Forum was held on 18 October 2016 in Milan. Objectives: note the demands and priorities of stakeholders with respect to the important issues of our strategy, which is broken down into three areas, namely social innovation, the digital culture and environmental protection, and discuss the concrete actions that TIM can take to contribute to these topics in terms of the creation of shared value.

Find all the information