At the Tubacex Shareholders’ Annual Meeting, held in Bilbao’s Euskalduna Conference Centre and Concert Hall, chairman Francisco Javier García ran through the main milestones of the previous year, as well as some of the most relevant points in corporate Governance since the previous assembly. These include reorganizing the delegate bodies, reviewing their composition, titles and powers, and giving all committees their own governing regulations; and reinforcing the governing bodies with the aim of advancing towards a more sustainable future.
As part of this commitment, on July 22, 2021, the Board of Directors appointed the Sustainability and Good Governance Committee, whose functions include promoting the Company’s SDG policies, to ensure that they create value.
The company also unveiled its new Strategic Plan 2022-2025, which aims to see it become the provider of sophisticated industrial products and high value-added services to the mobility and energy sectors. It is doing so with sustainability as its driving force.
Tubacex will mentor clients through their decarbonisation processes, by means of enhancing existing products. In other words, Tubacex will continue to supply high value-added products and services designed to reduce carbon emissions and improve process efficiency.
It will expand its presence in low-emission energy, creating a new business unit to develop innovative solutions in power generation, storage and transport for the hydrogen market and other emerging industries.
The plan is structured around five strategic lines: the Sustainability Plan, the stability of the company’s current business lines, diversification, slashing net debt, and competitiveness.
Tubacex will continue along its roadmap towards sustainability, involving specific initiatives to advance decarbonisation in the company’s own processes and to promote circularity.
The overarching aim is reduced emissions by 60% by 2030 and reach net zero by 2050. It is worth noting here that by end 2021, emissions had already been cut by 38% compared to 2019. The company will also roll out its social sustainability and governance plan, as one element of an overall plan which aligns with United Nations Sustainable Development Goals and the outlines of which have been approved by the Board of Directors.