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developing an effective corporate gov- ernance model is a priority in order to achieve our strategic objectives, to gen- erate value in the long term, and to rein- force our reputation and credibility with third parties. We have a commitment to maintain ethical and responsible conduct in our activities, build a framework of sus- tainable relations and open, permanent dialogue with our stakeholders, in addi- tion to guaranteeing business excellence underpinned by the principles of trust, integrity, transparency and responsibility.
Regarding our structure, we follow the recommendations defined in the Code of Good Governance for listed com- panies in Spain, which states that the regulations governing capital compa- nies must be enforced, in addition to best practices and international trends related to this subject matter, adapting them to our business model.
The general principles and commit- ments which underpin our corporate governance model and the workings of our governance bodies are as follows:
Maximise value creation sustain- ably and in the long term always taking into account the interests of our stakeholders and society as a whole.
ensure ethical conduct, compliance with the law and internal regula- tions by all Cepsa professionals, al- ways acting in accordance with the principles of transparency, integrity, honesty, respect and equality.
Promote constant and construc- tive dialogue with our stakeholders and adopt responsible behaviour to- wards society and the communities where we operate.
Act in total transparency, adopting specific measures to guarantee that all information that is made avail- able to third parties is correct, ac- curate and reliable.
Protect and preserve the health, safe- ty and integrity of our employees, our plants and the environment as a pri- ority objective, and promote a culture of operational safety and responsibil- ity in order to ensure our activities are developed with maximum guarantees and free from accidents.
Fulfil our social commitment via strict compliance with applicable legislation across all the geographi- cal areas in which we operate, in the knowledge that taxes are a key con- tribution towards sustaining public expenditure which provides the ba- sic needs for society as a whole.
Follow recommendations and na- tional and international good gov- ernance best practices, as far as these are applicable, and make a permanent effort to review and update the Company s governance standards, with a view to positioning Cepsa as a leading company in good governance and business transpar- ency and ethics.
4.2 CoRPoRATe GoVeRNANCe
CHAPTER 4 efficient and responsible management
