6.1.3.1Administrative, management, and supervisory bodies
The governance structure of a.s.r. consists of the Supervisory Board (SB), Executive Board (EB) and the Management Board (MB). The SB has three roles; the supervisory role, the advisory role and the employer’s role for the EB. The EB is collectively responsible for the day-to-day conduct of business at a.s.r. and for its strategy, structure and performance. The EB is accountable to the SB and the Annual General Meeting (AGM) regarding the performance of its duties. The MB conducts the day-to-day business at a.s.r. with the EB and implements and realises the business strategy, strengthens a.s.r.’s innovation power and improve customer focus.
See sections 5.1.3, 5.1.4, 5.1.5 and 5.1.6 for further details on the roles and responsibilities of the administrative, management and supervisory bodies (AMSB) and how they are informed about sustainability matters and how these were addressed.
6.1.3.2Integration of sustainability-related performance in incentive schemes
See section 5.3 for disclosure requirements related to the integration of sustainability-related performance in incentive schemes.
6.1.3.3Statements on due diligence
The core elements of due diligence are embedded in various disclosure requirements outlined in the ESRS. The table on this page contains an overview of these disclosure requirements with references to the relevant sections.
| Embedding due diligence in governance, strategy and business model | Sections |
|---|---|
| Information provided to and sustainability matters addressed by the AMSB (GOV-2) | 5.1.3, 5.1.4, and 5.1.6 |
| Integration of sustainability-related performance in incentive schemes (GOV-3) | 5.3 |
| Material impacts, risks and opportunities (SBM-3) | 6.1.4.4 |
| | |
| Engaging with affected stakeholders | |
| Information provided to and sustainability matters addressed by the AMSB (GOV-2) | 5.1.3, 5.1.4 and 5.1.6 |
| Interests and views of stakeholders (SBM-2) | 6.1.4.2 |
| Double Materiality Assessment (IRO-1) | 6.1.4.3 |
| Policies regarding material sustainability matters (Topical ESRS) | 6.2.1.3, 6.2.2.2, 6.2.3.3, 6.2.4.2, 6.3.1.2, 6.3.2.2, 6.3.3.2 and 6.4.1.3 |
| Environmental, Social and Governance (Topical ESRS) | 6.2, 6.3 and 6.4 |
| | |
| Identifying and assessing negative impacts on people and the environment | |
| Double Materiality Assessment (IRO-1) | 6.1.4.3 |
| Material impacts, risks and opportunities (SBM-3) | 6.1.4.4 |
| | |
| Taking action to address negative impacts on people and the environment | |
| Actions and resources regarding material sustainability matters | 6.2.1.3, 6.2.2.2, 6.2.3.3, 6.2.4.2, 6.3.1.2 and 6.3.2.2 |
| Environmental, Social and Governance (Topical ESRS) | 6.2, 6.3 and 6.4 |
| | |
| Tracking the effectiveness of these efforts | |
| Metrics regarding material sustainability matters (Topical ESRS) | 6.2.1.4, 6.2.2.3, 6.2.3.4, 6.2.4.3, 6.3.1.3, 6.3.2.3, 6.3.3.3 and 6.4.1.4 |
| Targets regarding material sustainability matters (Topical ESRS) | 6.2.1.4, 6.2.2.3, 6.2.3.4, 6.2.4.3, 6.3.1.3, 6.3.2.3 and 6.3.3.3 |
| Environmental, Social and Governance (Topical ESRS) | 6.2, 6.3 and 6.4 |
6.1.3.4Risk management and internal controls related to sustainability reporting
a.s.r. applies an integrated approach for managing risks. The integrated risk management framework and governance of a.s.r. includes risk management activities related to sustainability reporting. For more information, see section 7.8.
The scope and the nature of the risks and internal controls related to sustainability reporting vary amongst the different business lines. The main risks related to reporting on sustainability matters include the (timely) availability and reliability of data, available knowledge and resource capacity and (incorrect) interpretation of the regulation.
In 2024 risks have been identified and controls have been determined to ensure the correctness, completeness and timeliness of the sustainability reporting in particular with respect to newly disclosed items. The aforementioned risks and controls have been included in the reporting manuals which have been drafted at the level of each individual product line. Furthermore, a governance structure has been in place for addressing sustainability matters, including reporting. a.s.r. is in the process of integrating the risk management activities related to CSRD sustainability reporting in its existing integrated risk management framework and governance. By having this fully integrated it will enhance organisational efficiency, strengthen reliable reporting, and ensure compliance with the regulatory requirements.