Over the last year, we have worked constantly to set out a sustainability programme based on solid and concrete premises. The Group felt it needed to identify guidelines to help set out its approach to sustainability and to set out a specific set of areas for action, to ensure that our commitments were aligned and consistent with our objectives.
Accordingly, alongside the Code of Ethics and the Code of Conduct already in place, the Group has adopted a Sustainability Policy and produced its first Sustainability Reporting for the financial year 2016/2017. The report, complete with a materiality matrix, has been prepared in accordance with the GRI Standards issued by the Global Reporting Initiative and Legislative Decree 254/2016 regarding Non-Financial Information, applicable on a mandatory basis as of 2017.
- Voluntary adherence to a set of principles to promote sustainability values over the long term, through responsible policy actions, company practices, and social and civil behaviour which take account of the future generations;
- A commitment entered into with the United Nations by the participating companies’ senior management to contribute to a new phase of globalization to be characterized by sustainability, international co-operation and partnership in a multi-stakeholder perspective.
Legislative Decree 254/2016
Introduced on 25 January 2017, the provisions of the decree apply to financial years commencing on or after 1 January 2017.
The measures concern the disclosure of information regarding environmental issues, employees, respect for human rights, and the fight against active and passive forms of corruption, as relevant to the business and characteristics of the reporting enterprise.
Under the law, such disclosures are mandatory for enterprises of public interest.
Global Reporting Initiative
The Global Reporting Initiative (GRI) is a non-profit organisation that was originally established as a department of the Coalition for Environmentally Responsible Economies (CERES), from which it became independent in 1997.
The GRI promotes economic, environmental and social sustainability through a network of over 600 organizational stakeholders. Adopting a multi-stakeholder approach, the GRI has created a sustainability reporting framework that is one of the most widely recognised around the world.
Our work was guided by a Group-wide principle which identifies in fair, transparent and responsible conduct the key to protecting the Group’s reputation, its credibility and public consensus over time.
These elements are all key factors for the sustainable growth of a business focused on creating and protecting value for stakeholders.
The process of defining and preparing the Sustainability Reporting saw broad internal involvement of various company functions with the objective of identifying the content, projects and indicators to monitor.
As of this year, the Group has made a commitment to engage its stakeholders on an increasingly transparent and constant basis. Efforts will be focused on delivering a constant flow of information on its approach and policies, as well as the outcomes achieved through its business, as concerns sustainability and the creation of value. The Group Sustainability Unit will do this on a regular and transparent basis by publishing information on our website and future Sustainability Reporting.