Page 35 - SUSTAINABILITY REPORT 2016

GOVERNANCE 35

Governance system

Costa Cruises’ corporate governance departments, in accordance with the well as laws and regulations. Management Verifi cation Visits to certify the progress/
system, based on international best relevant procedures and policies. reviews the assessments and updates closure of corrective actions). During the
practices in line with the directives of Responsibility for governance of the thereto with the Audit Committee. year, in response to a nonconformity, one
Carnival Corporation & plc, is central ship and the entire crew lies with the In 2016 audits were held fl eetwide (15 additional Audit was conducted on a fl eet
to sustainable business success. It is Master, who is the shipowner’s direct HESS Audits, one on each ship, and 10 member.
structured in order to ensure high representative on board.
ethical standards and transparency in
all Company activities and to eff ectively Managing risks and internal
monitor operational risks, both of these auditing
things being essential to protect our SHORESIDE STRUCTURE
reputation and retain the trust of our In Costa Cruises the risk prevention
STRATEGIC
stakeholders. and management policy is based on a DEVELOPMENT DIGITAL
UNIT
To this end Costa Cruises periodically model developed globally by Carnival
updates its Business management Corporation and taking into account HUMAN AIDA
model (in accordance with the provisions the main international Enterprise risk RESOURCES
of Legislative Decree no. 231/2001), which management (Erm) standards. RISK ADVISORY CEO CARNIVAL
plays a part in guaranteeing transparency Some of the risk factors to which the & ASSURANCE MARITIME
values and corporate accountability Company is exposed are those aff ecting
NEW
when dealing with internal and external tourism as a whole whereas others are BUILDING
stakeholders. In 2016 there were 4 more specifi c to the cruise industry. COSTA CRUISES
management review meetings held to Among the factors occupying a prominent CORPORATE FINANCIAL SHARED
SERVICES
discuss critical issues and nonconformities, position in the risk matrix is accident ADMINISTRATION & CONTROL
which were dealt with in compliance with prevention and – more generally – guest
the set procedures. and crew health and safety, as well as
The Company’s business is managed regulatory compliance, especially with
by means of a dual structure organized regard to environmental laws. Other SHIPBOARD STRUCTURE
to oversee shoreside and shipboard variables include the growing concern
activities. Responsibility for policies and with risk factors arising from the changing
management in the diff erent areas, such as geopolitical situation internationally, CEO
environmental protection and safety, rests directly impacting the assessment and
with the functions centralized at Costa management of routes, itineraries and
Crociere Group level reporting directly to destinations.
the senior executives. Management of the Our risk framework is part of the Erm
processes and activities related to product program, which is facilitated by the CARNIVAL
MARITIME
development and market expansion is risk Advisory and Assurance Services
arranged with a separate organizational (rAAS) Department. This department
structure for each brand. works closely with management to MASTER
As regards shipboard management, perform annual assessments, identify risks
HR
CHIEF
CHIEF
STAFF
HOTEL
the specifi c functions operate in close and evaluate controls to ensure compliance CAPTAIN DIRECTOR ENGINEER SHIP’S DOCTOR DIRECTOR ENVIRONMENTAL
COMPLIANCE
consultation with the diff erent shoreside with Company policies and procedures, as OFFICER