Lamda Development bases its operation on a modern and effective governance model which supports its efficient and sustainable operation.
In this context, the Company's governance model has been structured to adopt practices to promote transparency and accountability, developing a framework of principles that respond to the dimensions of Sustainable Development, the analysis of opportunities, risks and qualitative/quantitative objectives for the main her activities. At the same time, practices for developing a dialogue (Stakeholder Dialogue) with all of its interested parties (Stakeholders & Shareholders) are implemented, as well as rules and procedures for the implementation of a Sustainable Development strategy and its connection with the essential issues of the Organization.
Based on the above, various committees have been set up, which are manned by the senior executives of the Company.
Specifically:
Audit Committee: The Audit Committee aims to assist the Company's Board of Directors in its duties regarding financial information, internal control and regular audit supervision. It is the means of communication for the Board of Directors, the Internal Auditor, the statutory auditors and the company's managers in terms of accounting and financial statements, management information reports, corporate governance, risk management and the internal control system.
Remuneration and Nomination Committee: The Remuneration and Nomination Committee aims to assist the Board of Directors, with regard to the general principles governing the management of the Company's human resources, in particular the policy of remuneration, benefits and incentives for its executive members of the Board of Directors, the executives and the employees, of the company, according to the conditions of the market and the economy in general.
Internal Audit Service: Lamda Development's internal audit is an independent, objective, and advisory function, which adds value to the organization's internal audit system and processes. It helps achieve objectives by applying a systematic and disciplined approach to evaluating and improving the effectiveness, risk management, control mechanisms and corporate governance functions.
Risk Management Committee: The purpose of the Risk Management Committee is to analyze, evaluate and manage all risks associated with the Company's business activity in Greece and abroad. The Committee formulates proposals, which it recommends to the Board of Directors.
At the same time, the Company applies a series of regulations and policies that ensure its smooth operation and determine the rights and obligations of employees:
- Internal Regulation of Operation
- Regulation on Personnel Matters and other Administrative Matters Office Operating
- Procedures Privacy Policy
- Conflict of Interest Policy
- Procurement Policy
- Anti-Corruption Policy
- Internal Job Announcement Policy
- Code of Ethics
Finally, in the context of determining the essential issues related to its governance and operation, Lamda Development implemented a qualitative survey of representatives of its interested parties in order to examine all important issues related to Corporate Responsibility, as well as to systematize the dialogue with them on these matters. The methodology followed is described below:
- Step 1 Identify and prioritize the main stakeholders to be involved in the process of finding the essential issues
- Step 2 Identification and prioritization of key indicators (economic, environmental, social, labor practices, human rights, responsible services, etc.), using the Global Reporting Initiative (GRI) guidelines
- Step 3 Conduct research, through a qualitative questionnaire to determine the essential issues according to the opinion of the interested parties and the Administration.
- Step 4 Create a matrix that identifies the essential issues.
According to the results of the research, the following are judged to be essential issues
- Health and safety of customers/visitors
- Environmental compliance
- Fight against corruption
- Privacy
- Employee social benefits
- Indirect economic effects
- Diversity and non-discrimination
- Worker health and safety
- Education and training of employees
- Safety practices
- Waste management
- Energy consumption
- Water consumption