BEFESA

In Befesa corporate social responsibility is considered a strategic factor. It is one of the fundamental pillars of its present and future strategy; and is integrated into its general strategy by means of the environmental, quality and human resources policy and, in general, in each of the management systems of the company. Therefore this corporate responsibility entails the following for the company:

• A legal dimension: scrupulous respect for legislation in force in each and every one of the actions of the Company
• An economic dimension: generation of sustained value
• A human dimension: absolute respect for and protection of human rights
• A social dimension: support for the development of the societies in which Befesa is present
• An environmental dimension: respect for and protection of the environment

The company business is based on sustainable development, around which its activities and strategies revolve, which is why the vision, the mission and the values of Befesa reflect its firm commitment with economic and social progress, the preservation of the environment and the respect for Fundamental Rights.

By means of this business model, Befesa positions its activity toward:

• The creation of long-term value for its stakeholders
• Service to its customers
• The professional and human development of its employees
• The growth of the societies where it develops its activities

The activities undertaken by the company are carried out in consideration of its model for sustainable development; with a balance that maximizes profits for its stakeholders, fully respecting legislation in force and with the utmost transparency.

Furthermore, and in order to clearly show this commitment with sustainable development, the Company supports initiatives relative to the protection of rights.

In 2006 Befesa signed the act of adherence to the United Nations World Pact, or Global Compact. The United Nations Global Compact is an initiative of ethical commitment so that companies from all countries incorporate, as an integral part of their strategy and operations, ten principles of conduct and action concerning human rights, employment, environment and the fight against corruption. Its purpose is to promote the creation of a global corporate citizenship that permits the reconciliation of interests and processes of business activities with the values and demands of civil society, as well as with UN projects, sectoral international organizations, unions and NGOs. In 2007 Befesa presented its first progress report, which is published on the website of the association (www.pactomundial.org).

The social responsibility policy is based on:

• The Befesa professional Code of Conduct
• The corporate governance structure
• A policy for support of the communities where Befesa is present
• The Befesa sustainable development model
• The internal and external audit of all its business units and actions

For Befesa, the adoption of a strategic approach to stimulate the CSR has multiple benefits: improvement in risk anticipation and management, the most suitable reputation management, the attraction and retention of talent, greater competitiveness and positioning on the market, greater operational efficiency and cost reduction, improved relations with the chain of suppliers, improved relations with the community where we develop our activities, access to a greater number of sources of capital or improved relations with regulators, among others.