We know that our seas and oceans are essential to the planet. As well as being the source of most of the oxygen we breathe, they provide us with ma- terials and food and are the source of numerous economic activities. At Iberostar Group, which has more than 80% of our hotels on the seafront, we have always had a policy of responsible and sustainable manage- ment in the environments in which we operate, because we understand the valuable and priceless exchange of resources provided by the seas and oceans. Since 2017, we have implemented a series of initiatives that promote the improvement of ocean health, which, in 2019 came to fruition with the launch of the movement we’ve named Wave of Change, which represents an essential pillar in the Group’s management. Wave of Change is mainly intended to contri- bute to the achievement of Goal 14 of the United Nations Sustainable Development Goals (“Life Below Water: conserve and sustainably use the oceans, seas and marine resources for sustai- nable development”). It was born out of a desire to unite employees, guests, service providers and society as a whole in the common effort to create tourism that is ever more responsible. With the pandemic, we have realised that it was much more than that. We must use the potential of the tourism industry to build a profitable and responsible model of tourism that protects the oceans and reduces climate change. The senior governing body is the Executive Com- mittee (EC). Its function is to define, set and implement the company’s strategies, policies and initiatives. It acts responsibly based on the Code of Ethics and the Compliance Programme that it itself approved. The Committee is made up of the Chairman, the two Vice-Chairs and the Group’s other senior management staff. It meets weekly and issues directives and guidelines on financial, environmental and social impact issues. The Chairman of this senior governing body is Mr Miguel Fluxá. The EC is led by the Vice-Chair & Chief Executive Officer (Ms Sabina Fluxá) and the Vice-Chair & Chief Sustainability Officer (Ms Gloria Fluxà). The other members of the EC are: Chief Strategy and Finance Officer, Chief Commercial and Digital Officer, Chief Operations Officer, Chief Resour- ces Officer, Chief Legal Officer and General Counsel, Chief People Officer and Chief Financial Officer. Governance is spread among different Commi- ttees made up of the managers of each of the areas involved. The committees are organised under the overall authority of the Executive Committee. This structure allows us to be more effective and trans- versal and to establish collaboration and synergy within the different areas of Iberostar Group.