For the third year Etica Sgr joined Yoox’s AGM, held in Milan on 17th April.
It was voted in favor of all items in agenda and with the support of some socially responsible investors such as the Americans Boston Common Asset Management e CREA, Etica stressed some important ESG (environmental social and governance) issues.
Etica Sgr expressed appreciation for the ediction of the second Sustainability Report, which reached the A + level of the international guidelines of the Global Reporting Initiative and praised of Yoox awards received during the presentation of the Italy 100 Climate Change Report 2013 organized by the Carbon Disclosure Project ( CDP), calling, in addiction, for adherence to the questionnaire promoted by the CDP relating the responsible use of water. It was also required to Yoox the calculation of the Carbon Footprint and a growing commitment in respect to suppliers in terms of engagement and adoption of selection systems based also on social and environmental performance. Etica Sgr has emphasized the importance of obtaining certification at the Energy Management System, to use sustainable packaging and to adopt detailed policies on human rights and labor respect, also regarding logistics and supply chain.
In terms of remuneration, it was suggested to Yoox to introduce environmental and social objectives underlying the definition of the variable components of the remuneration of the Chairman and CEO and other managers with strategic responsibilities, such as, the percentage of complaints received, the overall reduction of CO2 emissions and the rate of supply of energy from renewable sources. It has been suggested also to consider different economic and financial indicators that can express more significantly the efficiency of business management.
Finally, Etica Sgr asked the difference between the medium compensation of Yoox’s employees and CEO’s one.
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