Exor has a defined governance approach for all of its companies, which includes playing an active role on all its boards, reducing the size of its boards and ensuring it appoints directors who will provide a diverse set of views. Exor has a strong interest in education and is closely associated with the Agnelli Foundation, a not for profit institute that works on educational issues in Turin. The Foundation, in turn, works closely with many of Exor’s companies. Most of our companies have defined environmental policies, and some are leaders on this issue in their sectors. We will continue to define our approach to ESG over the coming years and recognise the responsibility that we have to do this.