Chile

General Standard Rule No. 30, which was modified by General Standard Rule No. 386 – establishes the information that issuers of securities must present to the Commission, i.e.: (i) diversity of the board of directors, members of management and employees of the company; (ii) number of directors, members of management and employees by gender; (iii) number of directors, members of management and employees by nationality; (iv) number of directors, members of management and employees by age range

General Standard Rules No. 385 and 386 establish that, in order to provide investors and the public with sufficient information about the company to make good investment decisions, listed companies must make known corporate governance practices to the general public. For this purpose, listed companies must submit to the Commission information on their corporate governance, social responsibility and sustainable development practices. To comply with the foregoing, the Commission has made available to listed companies, and to those that wish to do so voluntarily, a form containing ESG criteria which must be submitted to the Commission together with the Company’s annual report. This form contains topics such as:

1) Procedures or mechanism for the induction of new directors that consider: (i) facilitating the processing of knowledge and understanding of the company’s behaviour; (ii) corporate governance practices adopted by other entities; (iii) the steps that other entities have taken regarding inclusion, diversity and sustainability reports; (iv) main tools for risk management, including sustainability
2) Meetings with external audit companies in order to analyse differences with accounting practices, administrative systems and internal audit
3) Meetings with the entity’s risk management unit to detect new risks and their impact on the company
4) Meetings with social responsibility and sustainable development units in order to analyse the effectiveness of the standards adopted in the company and their benefits
Implementation of a formal procedure for continuous improvement of the organisation and operation of the company
5) Implementation of a formal procedure so that shareholders: (i) can be informed of the experiences, visions and conditions of the new directors to be elected; (ii) can participate and exercise their right to vote through electronic systems and know in real time what happens during meetings
6) Information provided to the general public on the new standards implemented in the company in matters of social responsibility and sustainable development and relevant risks in these matters
7) Communication channels between the board of directors, shareholders and the general public in order to answer questions about the company, its business, risks and financial, economic or legal situation
Implementation of procedures to detect organizational, social or cultural barriers that may inhibit the diversity of capacities, conditions, experiences and visions.