It is my pleasure to present, for the second year in a row, the Madrileña Red de Gas Sustainability Report, in continuation of the initiative undertaken in 2020 on transparency in sustainability.
This report provides a multidisciplinary view of the company, helping our stakeholders to understand more about our global situation and the company’s commitment to social responsibility, while also illustrating our performance and the extent of the company’s economic, social and environmental maturity.
The impacts of the COVID-19 pandemic on health and the economy left their mark on 2021, once again testing the capacity of businesses to show their resilience and ability to adapt in order to deal with and overcome scenarios of this kind. In this context, Madrileña Red de Gas has a range of active risk management policies in place specially designed to anticipate and adapt to situations as they arise.
Madrileña Red de Gas is fully focused on providing the best service in terms of quality, safety and providing a guaranteed supply of gas. We also strive to ensure that our customers face no digital barriers when it comes to accessing our information, and together with our chain of suppliers we are helping to improve people’s quality of life.
At Madrileña Red de Gas we continue to work with a vision of a better future ahead, with a firm commitment to implementing best practice in terms of our social, environmental and governance responsibility. It is undoubtedly these efforts that have led to us becoming the second-best rated European gas distribution company according to the GRESB international infrastructure sustainability rating, setting a benchmark with the highest rating of five stars. Guided by what investors and the industry feel are important issues in terms of the sustainability of real estate assets, these assessments are adapted to international reporting standards, such as the Global Reporting Initiative (GRI) and the Principles for Responsible Investment (PRI).
This second report documents the actions, initiatives and policies relating to sustainable development that have been implemented at Madrileña Red de Gas. We have identified the relevant issues according to their economic, environmental and social repercussions on the organisation’s activities, products, services and relations, and according to their influence on the assessments and decisions made by stakeholders, with in-depth analysis of the relevant aspects involved. This report has been produced taking the aforementioned Global Reporting Initiative (GRI) criteria into account.
We describe our risk management model and the main challenges that we face, which include our commitment to cyber security and the measures we have taken in prevent accidents in the workplace.
We also document our Code of Ethics, which is inspired by the company’s Mission, Vision and Values. This Code is a model of the actions that need to be taken to ensure suitable behaviour in our professional activities. We discuss our people, and the involvement of the company’s governing bodies on matters of anti-corruption and the prevention of criminal acts. We provide the company’s financial information, which can also be viewed in more detail in our annual report, which is also publicly available.
Our commitment to environmental protection is one of the mainstays of the sustainable development goals set by the company. We are signatories of the “Ready4H2” European hydrogen challenge, working jointly with the other gas distribution companies in Spain with the aim of ensuring that the knowledge and experience that we have all gained in our own projects and in collaboration with other local actors in the hydrogen sector can be gathered together and compiled in order to be of use to those with responsibilities in the Spanish and European energy policy. The aim is to implement a regulatory framework for developing hydrogen that can harness the potential of Europe’s gas infrastructure, and in so doing be of benefit to the public and help meet the target of climate neutrality.
The report also sets out how we engage with our workforce, our work-life balance policy, the various initiatives in place to promote people’s wellbeing, our commitment to equality and diversity in the workplace, to safety and to managing talent as the basis for the company’s success.
Finally, in this report we explain our responsible supply chain; we are absolutely convinced that if our suppliers share our vision and move forward with us, it will be much easier for us all to meet our sustainability targets.
We hope that all this information helps readers form a full and clear idea of the issues that concern Madrileña Red de Gas and the commitment the company has to society as a whole.
Pedro Mielgo
President