2022 | 2023 SUSTAINABILITY IN ACTION
Focused on sustainability, we updated our Strategic Plan and ESG Scorecard for the period 2022/23, consolidating indicators that reflect our commitment to responsible practices and adapting to sustainable development trends.

MANAGEMENT APPROACH

AN INCREASINGLY MATURE MANAGEMENT MODEL BASED ON SUSTAINABLE DEVELOPMENT PRINCIPLES

During the 2022/23 period, we reaffirmed our commitment to the responsible and sustainable management of our service and this, together with our accumulated experience, led us to promote new strategies within our Strategic Sustainability Plan.

This plan follows ESG criteria (environmental, social, governance) to continue adapting to an environment that is constantly changing and full of uncertainties. To follow up on the implementation of our plan we created a Balanced Scorecard proposal with key sustainability indicators, making it possible to measure results and identify priorities for achieving our objectives.

We also carried out an exhaustive review of the relevant issues that affect our context, making a SWOT analysis (strengths, weaknesses, opportunities and threats) of the company, and monitoring objectives aimed at meeting the expectations of our stakeholders. The results of this work, driven by the continuous search for improvement, will be disclosed in detail in our report.

This exercise was highlighted as one of our management strengths during the external quality audit conducted in 2021, successfully meeting the challenges posed for the adoption of good governance practices:

COMMITMENT TO OUR STAKEHOLDERS

In September 2021, we requested the participation of all our workers in a survey to update the strategies to follow with stakeholders through the Power-Interest methodology.

During 2022, we worked based on the results obtained and other substantial improvements, such as digitalizing the stakeholder relationships map in the MLO Portal, updating communication channels, planning actions related to needs and expectations, etc.

REVIEW OF MATERIAL TOPICS

In April 2023, as mentioned above, we carried out a complete review and analysis of the list of material topics, including the results of the SWOT analysis, the risk analysis of our value chain and studies by leading analysts in the sector. A specialised consultant with extensive experience in the field collaborated with us in this work.

As a result of this analysis, we identified the need to refocus two of the topics: family-work balance and sustainable mobility in cities (road safety and environmental education, and promotion of sustainable transport).

We also updated the list of material issues and adjusted the pillars and objectives of our Strategic Sustainability Plan:

PILLARS

With this restructuring, we have organised the report in such a way that each pillar is developed in an individual chapter, grouping them according to the three sustainability ESG pillars. The full list of relevant topics is now available in the report index for easy reference.

STRATEGIC SUSTAINABILITY PLAN REVIEW PROCESS

In July 2021, the General Management made the decision to start a project to reorganise our strategic objectives, aligning them with the ESG trend to meet shareholder expectations. Along these lines, we collaborated throughout 2022 with the Area Directors to define relevant actions and advance those that were pending according to the strategies set by General Management.

In 2023, we implemented this project and carried out the follow-up in the CEOC (Strategy and Corporate Organisation Committee) commissions. Activity planning and progress are available with total transparency on the MLO Portal to any worker wanting to consult them. The new methodology is explained below, as well as a brief explanation of each of the elements:

Environmental, social and corporate governance factors that are taken into account when managing a company

The “E” for “Environmental” covers the effect that the company’s activity has on the environment, directly or indirectly, and the rational use of natural resources (e.g. carbon footprint, water use, waste management, etc.)

The “S” for “Social” includes the impact on its social environment, community, customers or employees (e.g. diversity and equal opportunities, working conditions, safety and health, data protection, etc.)

The “G” for Governance refers to the company’s corporate governance (e.g. transparency policies in its public information or its codes of conduct and anti-corruption programs, etc.)

STRATEGY
OBJECTIVES (2022/2023)

We are consolidating a sustainable transformation by redefining objectives, strategies and concrete actions that allow us to move toward a responsible and transparent future.