Our Board of Directors has the primary responsibility for conducting oversight of our sustainability initiatives. AGCO’s functional sustainability team helps facilitate effective implementation. The Board’s understanding of sustainability at AGCO and helps create the necessary mandate to prioritize sustainability initiatives. In addition, the Board reviews the metrics and sustainability progress achieved which achieves acceptance for sustainability programs.
In 2013 the AGCO Board of Directors Governance Committee Charter was amended in accordance with best practices of Ceres expectations for board oversight. The revised Charter added responsibility to “review with management and provide input regarding social, environmental and sustainability initiatives of the Company, including consideration of social and environmental impacts of major business decisions and provide feedback on the Company’s public reporting on these topics.”
On an operational level, the AGCO Sustainability Strategy Steering Committee prioritizes issues, develops programs, oversees implementation and tracks progress. The committee, which meets quarterly, includes executive representation appointed by the CEO as well as functional and regional management representatives. Chaired by the Company’s Sustainability Lead, the Committee’s members are tasked with the responsibility to develop and manage specific sustainability projects. Committee members include both functional and regional leads, and some are assigned goals and/or targets to drive execution of the objectives in the sustainability roadmap.
Regional Sustainability Steering Committees further increase accountability and engagement with sustainability issues throughout the organization. Each of the Regional Committees develops action plans with the Global Sustainability framework to innovate and influence successful outcomes.
The Regional Committees include functional and regional senior managers who have key sustainability responsibilities and skill sets. Members convene regularly and are tasked with a range of responsibilities, including: