- Lobbying y and Professional Associations - Climate Alignment
Due to the nature of its business, SM SAAM's operations play a strategic role in the economic development of the countries where it operates. Consequently, the Company constantly interacts with government entities, public officials and state-owned companies. In its efforts to achieve its business objectives, SM SAAM conducts these relationships with utmost respect for each country's institutional and legal framework and in accordance with the most stringent ethical standards.
The Policy on Relations with Public Officials and Politically Exposed Persons—part of the SM SAAM Compliance Program, Crime Prevention Model and Code of Ethics—regulates the Company's lobbying activities.
The guidelines and courses of action in the aforementioned policy apply to SM SAAM and all its subsidiaries. Associated companies are also encouraged to adopt them. Furthermore, regardless of an individual country's applicable regulations, the policy outlines minimum requirements for desirable practices when interacting with public officials or Politically Exposed Persons.
In Chile, all meetings executed by public agenda must adhere to the provisions of the Lobby Law and its implementation guide (Law No. 20,730 dated March 8, 2014), which regulates lobbying and efforts to represent private interests before authorities and public officials.
Chile ratified the Paris Agreement in 2017, committing as a country to developing climate change policies and moving toward fulfillment of the Sustainable Development Goals (SDG). Thus, any bill, congressional decision, policy, plan or program related to limiting global warming to 2°C, promoting renewable energies, or supporting carbon pricing, in which SM SAAM participates through lobbying, is regulated by the aforementioned Policy on Relations with Public Officials and Politically Exposed Persons.