Snam aims to reduce methane emissions by 25% by 2025. CO2 emissions avoided by 150,000 tons in 2018
The 2018 Sustainability and Climate Change reports higlighted: increased safety at work (-36% accidents), more training (+26% hours provided to employees) and further environmental restoration efforts (+11%). The new policy to integrate social enterprises into the supply chain was launched
San Donato Milanese (MI), 14 March 2019 - Snam has published the thirteenth edition of its Sustainability Report and the first edition of the Financial Disclosure on Climate Change Report in line with the recommendations of the Task force on Climate related Financial Disclosure (TCFD).
“2018 was a very positive year for our company not only in terms of economic results but also in terms of sustainability. In fact, the main indicators demonstrate numerous advances made by Snam in terms of reducing emissions, improving occupational safety, business ethics and initiatives for the protection and development of the territories in which we operate. These documents demonstrate Snam’s concrete commitment to sustainable development and the fight against climate change to all our stakeholders, with transparent information in line with international best practice”, Snam CEO Marco Alverà said.
This year’s Sustainability Report, titled “The energy of change - The company amidst climate challenges and sustainable finance”, was drafted according to the international GRI Comprehensive option and focuses largely on the evolution of the global climate scenario and the increasingly interlinked relationship between climate change and finance. The report seeks to illustrate the role that Snam plays in the energy transition and decarbonisation process within this wider context, as well as outlining the performance of its sustainability strategy.
The report outlines the company’s key achievements in relation to ESG (Environment, Social, and Governance), including:
- New target for reducing natural gas emissions: by 25% by 2025 compared to 2016 levels (in 2018 they were reduced by 7.9% compared to 2016)
- 14% increase in environmental monitoring (for 445 km of network) and 11% increase in environmental restoration (for 227 km of network) compared to 2017
- 154,800 tons of CO2eq avoided (+87% compared to 2017) thanks to specific CO2 saving techniques
- Over 4,000 km of network subjected to geological inspection and over 18,400 km inspected by helicopter overflights
- 1.6 billion euro in added value distributed to stakeholders
- 26% increase in training hours provided to employees (approximately 110,000) and over 60,000 hours of smart working
- Reduction in the number of employee and contractor injuries: -36% compared to 2017
- 14% increase in reputational checks (over 2,000)
- Introduction of a “social supply chain” policy for the inclusion of social enterprises and 2,000 hours of corporate volunteering
The report entitled “Snam for the future - Financial Disclosure on Climate Change 2018” marks its first edition following Snam’s adherence to the recommendations of the Task force on Climate related Financial Disclosure in 2018.
The Task force on Climate Related Financial Disclosure, a working group established by the Financial Stability Board of the G20, published its recommendations for clear, coherent and comparable reporting on the impact of climate change on a company’s strategy in 2017.
The recommendations concern 4 thematic areas - Governance, Strategy, Risk Management, Metrics and Targets - with respect to which the risks and opportunities of climate change are highlighted.
The documents are available through the following links:
14 March 2019 - 15:22 CET