07. Commitment to the Community

Sacyr Vallehermoso Foundation

LAV Almería. Tramo: Los Gallardos - Sorbas

In view of the growing number of communitybased initiatives to which the Group has contributed in recent years, in December 2007 Sacyr Vallehermoso’s Board of Directors took the decision to create a corporate foundation that would enable the Group to maximise the benefits of its community initiatives for intended recipients and contribute more effectively to the well-being and development of the communities in which it is active.

The Sacyr Vallehermoso Foundation was entered in the Spanish Foundations register on 22 September 2008.

Under its bylaws, the Foundation has the following missions:

1.- To foster and disseminate art and culture in the broadest sense, to encourage cultural and artistic talent and to bring culture close to society.

2.- To promote human rights, to foster respect for all persons and cooperation in the development of disadvantaged regions and groups.

3.- To provide social and healthcare assistance, to support the voluntary sector, and to promote community action and care for persons at risk of marginalisation.

4.- To safeguard the environment and to raise awareness, provide training and support research in environmental matters.

5.- To support all types of education to advance career development and to promote training, scientific research and technological development in any sphere, but in particular, though not limited to, areas related to construction and engineering.

6.- To promote and support sport as an essential element in the balanced and full development of the human race and as a means of learning about competition and respect for the rules and our adversaries.

7.- To protect our historical and artistic heritage.

8.- To raise awareness of and provide institutional support for civil education, to promote constitutional values and to strengthen the rule of law and democracy.

9.- To support victims of acts of terrorism or any other form of violence.

When establishing the Sacyr Vallehermoso Foundation, to guarantee the efficient operation of its community projects, the Group drew up a set of internal procedures setting out the methodology to be adopted in considering, selecting, funding and monitoring projects of a social nature. The new elements incorporated in these procedures include the following:

• The Foundation’s governing board is the body ultimately responsible for approving and overseeing social projects.

On this point, it should be noted that since the composition of the Foundation’s governing board replicates that of Sacyr Vallehermoso’s Board of Directors, in practice it is the members of the company’s most senior governance body that effectively control the Group’s social initiatives and, accordingly, its Directors are actively involved in the management of these initiatives.

• The Group has established the following objective criteria to be used as points of reference when selecting projects to support:

- The project must be aligned with the aims of the Sacyr Vallehermoso Foundations set out in its bylaws.
- Social return on investment: Assessment of the need for and urgency of aid, and of the number of potential beneficiaries.
- Regional balance: The Group seeks to prioritise projects in the areas in which it is active and to avoid imbalances in the geographical distribution of aid.
- Funding balance: The Group aims to avoid excessive concentrations of aid in any one of its specific remits.
- Technical and financial solidity of the partner or beneficiary organisation.
- Budget adequacy.