The Supervisory Board and its Committees advise and monitor the Board of Management in its management of Daimler Truck Holding AG, in particular also with regard to sustainability issues. In the following, we provide a short summary on the allocation of responsibility with regard to sustainability to the Supervisory Board and its Committees.
The overall responsibility for the supervision of sustainability issues lies with the Supervisory Board as a whole. The topic of sustainability is of such central importance that the Supervisory Board as a whole deals with this cross-sectional topic regularly and intensively. A separate Sustainability Committee has therefore not been established by the Supervisory Board.
At regular intervals, the Board of Management reports to the Supervervisory Board on the strategy of the Daimler Truck Group and its individual segments by giving appropriate consideration to ecological and social objectives and on the corporate planning, which also includes sustainability-related objectives. Furthermore, irrespective of any delegation to the Audit Committee, the Supervisory Board has responsibility for the independent audit of the annual financial statement and consolidated financial statement, the management report for the Company and the Daimler Truck Group including the non-financial statement of the Group and the herein integrated sustainability report.
The Supervisory Board as a whole pools the broad sustainability expertise of its members, which enables the Supervisory Board to address the sustainability-related issues of its advisory and supervisory work, such as in context of approvals of product projects in the field of zero-emission transportation, and in discussions with the Board of Management (that meets regularly also as the Company’s Corporate Sustainability Board).
The Supervisory Board is supported by its Committees, in particular the Presidential and Remuneration Committee and the Audit Committee, with regard to the sustainability aspect of its work:
Presidential and Remuneration Committee
The Presidential and Remuneration Committee supports the Supervisory Board in particular with regard to the remuneration of the Board of Management and concerning Corporate Governance matters. This also comprises sustainability-related issues relating to the determination of sustainability targets in the context of the remuneration of the Board of Management and the assessment of their achievement or relating to Daimler Truck’s Corporate Governance. All four members of the Presidential and Remuneration Committee have expertise in the sustainability area “Governance”.
The Audit Committee is responsible for the preliminary examination of the (mandatory) sustainability reporting and the internal control and risk management system which also cover sustainability-related objectives. In order to be able to fulfil these tasks, the Audit Committee has two financial experts: At least one member of the Audit Committee must have special knowledge and experience in the application of accounting principles and internal control and risk management systems and at least one other member must have special knowledge and experience in the area of auditing. The accounting and auditing expertise also respectively includes sustainability reporting or its audit.