Puig Brands SA

The Sustainability and Social Responsibility Committee, a specialized committee of the Board of Directors, oversee Puig's sustainability strategy and ESG commitments. The Committee is composed of the Chairman and CEO, the Vice Chairman, and three additional independent Board members. Meeting quarterly, it reviews progress on the Puig 2030 ESG Agenda, while also assessing the company's material dependencies, impacts, risks, and opportunities related to climate and nature. [...] The CSO's participation is key, bringing expertise in sustainability, a holistic perspective for evaluating performance, and a strong focus on stakeholder alignment. As a representative of Puig's sustainability efforts, the CSO ensures that key concerns are addressed and integrated into the company's strategic decision-making. [...] To strengthen Puig's approach to climate and nature-related risks and opportunities, the CSO leads an annual taskforce dedicated to these topics. This taskforce operates within the frameworks of IFRS S2 and the Taskforce on Nature-related Financial Disclosures (TNFD) and includes experts from markets, finance, R&D, procurement, supply chain, manufacturing, facilities, and risk management. Its primary role is to conduct in-depth assessments of climate and nature-related risks and opportunities, with an annual review of findings. [...] The taskforce's conclusions are presented to both the Sustainability and Social Responsibility Committee and the ESG Team, ensuring that the Board of Directors and senior management receive precise, data-driven insights to inform strategic decisions that enhance Puig's sustainability and resilience to climate change. [...] The ESG Team, composed of senior managers with sustainability-related responsibilities, is led by the CSO and meets monthly to oversee the execution of Puig's ESG initiatives. [...] Additionally, climate and nature-related risks are integrated into the "ESG risk" which is part of Puig's corporate risk map. Consequently, climate and nature-related risks result integrated into the organization's overall risk management which is oversee by the Audit and Compliance Committee.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Puig aims to become a reference in ESG within our industry. As a result, the company has set two main commitments: (1) contribute to limiting the rise of temperature to 1.5°C by 2030, in alignment with the Paris Agreement; and (2) be net zero by 2050.
For this reason, engagement with activities that have a direct impact on climate is the core of the defined ESG roadmap.
Currently, Puig is aligned with the most relevant international standards: the United Nations Sustainable Development Goals, the United Nations Global Compact, the Science Based Targets initiative (SBTi), the Task Force on Climate-Related Financial Disclosures (TCFD), the Carbon Disclosure Project (CDP), the B Corp certification and the EcoVadis assessment.
The strategy and decision-making to define the activities where Puig is and will be engaged is part of the ESG Committee and ESG Team regular meetings to ensure a common sense and coherence in the implication and implementation processes.