Analysis of materiality
SNAM is following the GRI standards of Global Reporting Institute, issued in 2016.
Materiality is the key element that reinforces Snam’s sustainability strategy by generating environmental, economic and social value for the company and stakeholders
Materiality is the principle according to which businesses must prepare their reports by including information on aspects that significantly impact their capacity to create value over time.
By following the principles of the GRI's G4 guidelines in force since May 2013, which place particular emphasis on the principle of materiality, Snam immediately took advantage of the opportunity to lend greater focus to its reporting by updating the topics that have traditionally been part of its sustainability efforts. Now Snam follows the GRI standards which still keep focus on material aspects is key to the reinforcement of the corporate social responsibility strategy.
In comparison to last year, the number of material issues has been reduced from 19 to 14 based on a specific analysis that allowed to group some similar issues. Compared to 2017, the most significant changes concern the inclusion in the material issues of the “Diversity and equal opportunities” issue and the new “Green Business” issue, which became materials thanks also to the relevance of these issues in the 2019-2022 Strategic Plan, and the exclusion of “Employment” issue and “Human Rights” issue, since Snam operates mainly in the Italian boundaries, widely controlled over these aspects.
The materiality analysis is conducted to identify the most significant topics for the Company and Stakeholders
Starting from the relevant issues arisen from the materiality analysis of the last year, at the end of 2018 Snam initiated the process for their updating, by analyzing the main sustainability trends, the most important publications in the sector and through a benchmark with the main peers and comparable companies of Snam at national and international level.
In order to identify the most relevant issues from the company’s point of view, Snam proceeded by analyzing the available internal documentation (e.g. the 2019-2022 Strategic Plan), the main adopted policies, the main risks identified by the ERM model and the issues on which they insisted on. The preliminary internal relevance of the issues identified in this way was then submitted to management, through direct interviews with the managers of each department, in order to analyze the perception of the issues from the company’s point of view. Each function, where appropriate, was allowed to update the relative scoring of these issues.
Differently, in order to define the most relevant issues from the stakeholders’ point of view, Snam proceeded using the analyses described above, identifying the most recurrent and most significant issues. The order obtained was then merged with the results of the last survey submitted to the stakeholders. The categories of stakeholders considered were: Community and Territories, Investors and Lenders, Other operators, Media, Suppliers, Clients, People (Employees) and Authorities and Institutions.
Fight against corruption: Combating corruption is one of the major global challenges. In fact, corruption represents a major obstacle to sustainable development and democracy and has a devastating effect, not only at financial level but social level, and impacts the confidence of all stakeholders.
Business integrity: Carry out activities with loyalty and fairness in compliance with laws, regulations, additional and improving company dispositions and ensuring the efficiency of corporate governance, with particular attention to the issues of remuneration and balanced participation in the main corporate governance bodies.
Reliability of infrastructure and business continuity: Ensure the reliability of infrastructures and services in order to prevent and/or mitigate potential situations that could compromise business continuity (e.g. emergencies, cyber-attacks).
Economic performance and value generation: Promote the creation of shared medium to long-term value for all categories of stakeholders, through operational and financial efficiency and commit to the development of business activities capable of generating value for all stakeholders.
Innovation: Research new technologies with a view to increasing efficiency in the conduct of business and reducing environmental impacts.
Brand reputation: Enhance and protect the Snam’s brand and reputation through ongoing relationships mainly with the financial community and investors (e.g. to disseminate transparent, comprehensive and timely information that can represent the company and its business).
Health and safety: The subject of workplace health and safety is among the rights more aknowledged and accepted in every business sector. This issue is generally considered material by definition, in particular for the industrial sector. Employement and safeguarding jobs: It is perhaps the most important "social" theme, given the ongoing negative effects the crisis is having on the country's economy, especially as regards youth employment prospects.
Development of human capital: The development of professional expertise and managerial skills, as well as the management of human capital, assume relevance in relation to the higher degree of complexity deriving from the evolution of the markets, both nationally and internationally.
Diversity and equal opportunities: Promote and ensure equal opportunities for all employees, and protect diversity (race, religion, culture, gender and age) by promoting initiatives for dialogue and collaboration.
Relations with local communities: Engagement with local communities in order to develop project activities that can effectively meet stakeholder expectations and also strengthen the license to operate.
Relations with Authorities and quality of service: Ensure that customers receive a safe and reliable service over time, in compliance with the principles of competition and equal treatment and access to infrastructure. Promote constructive relations with regulatory authorities and institutions, so as to develop services that are satisfactory to customers and at the same time geared to the needs and demands of the market.
Climate Change: Promote strategies to contain climate change, to reduce greenhouse gases and environmental impacts, develop energy efficiency initiatives at Group plants and sites and promote a more sustainable business through the use and production of energy from renewable sources.
Green Business: Integrate in its operations, in support of a low-carbon economy new businesses that accompany the processes of decarbonisation, such as biomethane, use of gas for sustainable mobility (CNG, LNG) and new technologies capable of incorporating renewable energy from the environment.
Land protection and biodiversity: Safeguard the landscape heritage of the territories where the Group's plants or sites are located and promote environmental protection by integrating soil, subsoil and groundwater protection policies into its operational activities.
24 April 2019 - 16:14 CEST