The governance structure, which incorporates sustainability/ESG issues into core business processes, is reflected in the OTE Group Sustainability Policy.
OTE Group Sustainability Policy
The OTE Group Sustainability Policy sets out OTE and its affiliates companies’ management approach on sustainability/ ESG issues, as well as the areas which are impacted by relevant OTE Group requirements. This Policy defines the framework of the overall action plan implemented by the Group, taking into consideration current and future economic, social and environmental conditions, priorities and challenges. It lays out the sustainability governance structure within the Group by specifying the areas of responsibility and individual tasks and forms of cooperation among the Group’s relevant sustainability bodies. The OTE Group Sustainability Policy was adopted in 2015, and was amended in 2022, in order to reflect the current national and international regulations, priorities and stakeholder’s expectations concerning sustainability/ ESG issues.
Sustainability Team
OTE Group's Sustainability Team, consisting of more than 50 representatives from several companies’ business units, is responsible for the management of sustainability and ESG issues. The team goals are:
- Alignment of all business units and companies of OTE Group, concerning the sustainability strategy.
- Dissemination of the sustainability strategy and activities to the various business units of the OTE Group.
- Improvement of the Group’s sustainability and ESG performance.
- Raise awareness and motivation Group’s employees on sustainability issues
- Contribution to the definition and achievement of the Group’s sustainability & ESG objectives and targets.
- Collection of sustainability and ESG-related data and information
- Contribution to the stakeholder dialogue and engagement.
ESG Targets in Remuneration
Further promoting sustainability as a key business priority and integrating it into OTE Group's business strategy, ESG targets are set as a performance-related component of top management’s remuneration, as of 2022. Specifically, climate related goals (e.g. energy consumption and reduction of CO2 emissions) are components of the variable part of the annual compensation, giving additional priority to the Group’s efforts for climate change mitigation. Other indicative performance-related components of top management’s remuneration are the revenues, the EBITDA (financial targets), success factors related to specific products or services, the change management, the modernization / transformation of the Company, the loyalty / satisfaction of the customers and of the employees, the compliance with the guiding principles of corporate behavior and of leadership principles.
