Sustainability PolicySustainability Policy

Sustainability Policy


Issued on: 15/08/2024
Responsible: Directors/General Manager
Revision Due: 16/08/2028

1. General Guidelines
Cramlington Precision Forge Ltd. (CPFL) is committed to integrating sustainability into every facet of its operations. This policy establishes the principles and guidelines that will govern CPFL's activities throughout the lifecycle of its operations, aiming to prevent and minimize risks and negative impacts while enhancing positive outcomes for people, communities, and the environment. Our objective is to generate social, environmental, and economic value that extends beyond the company’s core activities.

2. Applicability
This Policy applies exclusively to Cramlington Precision Forge Ltd. (CPFL). All activities under CPFL must adhere strictly to the company’s bylaws, articles of incorporation, and applicable legislation. This policy does not extend to any subsidiaries or affiliated entities.

3. References
Code of Conduct
Risk Management Policy
Climate Change Policy
Diversity and Inclusion Policy
4. Operating Premises
Sustainability is a core component of CPFL's business and decision-making processes. The following principles will guide our approach throughout the project lifecycle:

Active Listening, Dialogue, and Engagement: Maintain open communication with stakeholders, fostering transparent dialogue, considering diverse perspectives, and responding swiftly to interactions and grievances.

Compliance: Strictly adhere to applicable legislation, CPFL’s internal policies, and recognized national and international best practices and principles.

Diversity, Equity, and Inclusion: Ensure fair and equal treatment of all individuals, valuing their unique contributions, and fostering an inclusive work environment that rejects all forms of discrimination.

Future Use: Strategically plan for the sustainable use of post-operational areas, aligning territorial and socioeconomic strengths to generate shared value for both the company and society.

Global Objectives: Align CPFL's strategic objectives with global sustainability initiatives, such as the Sustainable Development Goals (SDGs) and the UN Global Compact.

Health: Implement measures to prevent and mitigate health risks for employees and contractors, promoting well-being and productivity through prevention, education, and access to necessary treatments.

Human Rights: Uphold, promote, and protect human rights, preventing adverse impacts and mitigating and remedying any violations when necessary.

Impact Management: Apply the mitigation hierarchy to avoid, minimize, remedy/recover, and/or compensate for any negative socio-environmental impacts, while striving to enhance the positive impacts of CPFL’s activities.

Operational Excellence: Follow CPFL Management Model guidelines to ensure safety, operational discipline, and continuous improvement, with an emphasis on eco-efficiency, responsible waste management, and biodiversity conservation.

Research, Development, and Innovation: Invest in research, new technologies, and skills development to drive sustainable processes that generate value for the company, the environment, and society.

Resources: Ensure the availability of necessary resources to implement the Strategic Sustainability Plan, including socio-environmental investments and impact management.

Risk Management: Proactively manage risks to prioritize the safety of people and the environment and mitigate impacts on operational continuity and reputation.

Safety: Maintain a culture of safety, aiming for zero fatalities and zero life-altering incidents, prioritizing the well-being and safety of all individuals in every decision-making process.

Transparency and Accountability: Maintain transparency in all actions and decisions, taking responsibility for outcomes and ensuring diligence and accountability.

Value Chain: Incorporate human rights, health, safety, social, and environmental standards in managing relationships with suppliers, customers, and partners, encouraging them to adopt similar sustainability practices.

5. Strategic Priorities
In alignment with CPFL's strategic vision to improve life and transform the future together, the company commits to the following:

Leveraging Positive Results for Nature: Invest in conservation, nature-based solutions, and innovation to benefit biodiversity, climate, water, and people.

Acting on Relevant Causes: Engage in corporate projects that address key global issues such as human rights, poverty, and climate change.

Contributing to Local Development: Support community resilience by fostering education, health, culture, and economic diversification.

Creating Shared Value: Develop practices that create economic value for CPFL while simultaneously benefiting society and the environment.

Demonstrating Leadership in Low Carbon Manufacturing: Align with the Paris Agreement and promote solutions for achieving net-zero emissions in CPFL's operations and value chains.

6. Governance
The CPFL Board of Directors is responsible for safeguarding the company’s assets and ensuring long-term shareholder value, guided by ethical principles and sustainability. The Board is supported by a Sustainability Committee that ensures alignment between CPFL’s policies and sustainability goals, thereby enhancing the quality and efficiency of decision-making.

The Executive Committee is tasked with implementing these guidelines, supported by Risk Committees that manage risks proactively. Thematic forums, incorporating external expertise, assist in defining and monitoring CPFL’s Sustainability Strategy.

7. Responsibilities
Board of Directors:

Approve CPFL’s Sustainability Strategy and ensure its integration into the company’s strategic planning.
Approve this Policy and any necessary amendments.
Sustainability Committee:

Advise the Board on sustainability-related issues.
Recommend the approval of this Policy and its amendments.
Executive Committee:

Propose sustainability guidelines and strategies to the Board.
Evaluate and recommend this Policy and its amendments.
Sustainability Executive Vice-President:

Develop and propose the Strategic Sustainability Plan and this Policy.
Lead the dissemination and implementation of this Policy.
Accounting, Tax & Controllership:

Monitor the execution of this Policy and related training and report outcomes to the Executive Committee and Audit and Compliance Board.
Audit and Compliance:

Assess the effectiveness of actions taken under this Policy.
General Secretary of Corporate Governance:

Evaluate and recommend adjustments to this Policy, ensuring timely revisions.
8. Definitions
Resilient Communities: Communities equipped with essential rights, capable of positive adaptation to change, where human rights are upheld.

Sustainable Development: Development that meets current needs without compromising future generations' ability to meet their own needs.

Local Development: The socio-economic and environmental prosperity of a region, driven by collaboration among public, private, and civil society sectors.

Nature-Based Solutions: Actions that protect, manage, and restore ecosystems, addressing societal challenges while benefiting both people and nature.

9. Disclosure and Dissemination
This Policy will be archived and disclosed by the Finance and Investor Relations Executive Vice-President in CPFL's official repositories, accessible to internal and external audiences. The Sustainability Executive Vice-President is responsible for ensuring its dissemination.

10. Consequence Management
Noncompliance with this Policy will be managed according to the guidelines outlined in CPFL's Consequence Management Policy.

11. Deadline for Policy Revisions
This Policy must be reviewed within five years or as necessary to maintain its relevance and effectiveness.

12. Final Provisions
In case of any conflict between this Policy and CPFL's Bylaws, the Bylaws shall prevail, and this Policy will be amended accordingly. This Policy is effective upon approval by the Board of Directors.

13. Approvals
Areas:

Description: Sustainability Executive Vice-Presidency
Drafting: Corporate and Institutional Affairs Executive Vice-Presidency
Review/Recommendation: People Executive Vice-Presidency, Finance and Investor Relations Executive Vice-Presidency, Health, Safety, Environment, and Operational Risks, Audit and Compliance, General Secretary of Corporate Governance
Approval/Submission to the Board of Directors: Executive Committee
Approval: Board of Directors (CPFL – 15/08/2024) with recommendations from the Sustainability Committee and the Nominating and Governance Committee
This Sustainability Policy is tailored specifically for CPFL, reflecting the company’s commitment to sustainability and its strategic goals, while incorporating best practices for environmental stewardship and community engagement.

This version of the policy focuses solely on CPFL, without reference to any subsidiaries or affiliated entities.

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