Corporate Social Responsability (CSR)
Corporate Social Responsibility (CSR) is a priority that GBL believes is essential to long-term profitability. It is one of the criteria on which its investment decisions are made. It is also reflected in GBL’s governance model, which allows it to play its role of responsible investor in its holdings.
- Responsible management
For many years, GBL has been encouraging the adoption of best practices in the Corporate Social Responsibility (CSR) field. GBL believes that quality governance is a key factor of success, long-term profitability and value creation.
It is therefore committed to the adoption and the use of the best responsible management practices in the conducting of its business and the promotion of CSR challenges in its long-term investor activity.
- Responsible shareholder
GBL is a holding company with investments in industrial and services companies that are leaders in their market and in which it can play its role of professional shareholder.
It recognises that financial and non-financial performances go hand in hand to create value sustainably. As a responsible shareholder, GBL therefore includes CSR criteria in the analysis and selection of its future investments.
Moreover, although responsibility for managing CSR issues is assumed directly by the management teams of the various companies, GBL, as a professional shareholder, monitors and encourages the CSR policies of its holdings. Each of these companies is expected to develop a CSR policy addressing its specific issues. They have each established targets and action plans based on their sector’s regulatory environment and their individual growth strategies.
- Staff policy
People play a crucial role in the successful implementation of any corporate strategy, within both GBL and its holdings. The priority is therefore to attract and retain talented individuals with complementary skills and experience. At 31 December 2016, GBL had some forty employees.
GBL’s employees are the ambassadors of its core values. Its management philosophy is based on teamwork and mutual trust.
The development of its staff’s employability is a priority for GBL, which strives to maintain the motivation and commitment of its employees and to make sure that they always have the level of expertise required to succeed in their assignments.
GBL seeks to create a flexible and balanced work place that recognises the value of diversity and personal well-being. For example, the Company occupies fully renovated, asbestos-free premises, so as to meet the latest legal standards and optimise safety, health and energy consumption.
- Socially-committed company
GBL’s social commitment is reflected in its sponsorship policy, which is focused on three areas: scientific research, charitable contributions, and culture and education.
The many requests for funds submitted to the Company are carefully examined by GBL and decisions are made case by case based on the merits of each request.
In 2016, GBL allocated a total of EUR 0.8 million to 75 projects in the following areas:
The medical world: GBL is supporting several hospitals and laboratories with the goal of promoting medical research and financing the acquisition of equipment.
Charitable contributions: GBL’s action is mainly aimed at helping people who are suffering from a physical, mental or social disability, in particular victims of poverty.
Culture and education: various private and public organisations have benefited from GBL’s support to set up both cultural (artistic and educational) and academic programmes.
- A limited environmental footprint
GBL’s operations have a limited environmental impact. GBL nevertheless seeks to limit any negative impact within its own scope. Its premises have been fully renovated in 2013 to reduce its energy consumption.
In addition, most of the companies in which GBL invests incorporate environmentally-friendly initiatives into their current activities and everyday operation.
- Communication and transparency
GBL’s CSR Statement, which is available on its website, is a reference framework applicable to GBL and its holdings, which defines their priorities according to their activities. The Board of Directors, together with the General Secretary, monitors the CSR Statement’s application.
GBL recognises the importance of improving its communication about its CSR activities, given the growing importance of this issue to investors and shareholders. In the next few years, it will continue to communicate transparently on the projects completed within GBL and its investments.