Governance model

Corporate governance is the use of the set of tools, regulations and mechanisms to effectively manage the organisation's decision-making processes.

The governance framework, in the context of sound sustainability management is as follows:

In the framework of its Corporate Governance system, the Carraro Group adopts a risk management model based on national and international best practices and directly integrated with the process of defining strategies and ensuring their implementation in business plans. More specifically, the organisational roles involved in the business risk management process are as follows:

• The Board of Directors has the task of defining the nature and level of risk, in line with strategic objectives, in order to achieve medium to long-term sustainability 
• The Board of Directors, supported by the competent functions, is responsible for identifying and assessing the main company risks;
• The Risk Owner, together with management, has the task of ensuring for each of the main business functions that the main risks faced by Carraro Spa and its subsidiaries are correctly identified and monitored in the company’s management activities;

Main categories in the Carraro risk management model:

• Strategic risks
• Operational risks
• Legal and compliance risks
• Financial risks
• Planning and reporting risks
• Climate change-related risks: Carraro describes how its organisation proposes to address climate change issues based on the framework proposed by the Task Force on Climate-related Financial Disclosures (TCFD) guidelines implemented by the European Commission and described here.

Carraro has adopted a system of internal policies and tools for ensuring respect for and protection of environment and safety, rights, diversity and responsibility to the market, thereby confirming its commitment to compliance with standards, transparency, trustworthiness and inclusion.

See our CSR report for more information.