Analysis of materiality
This year 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 new GRI standards which still keep focus on material aspects is key to the reinforcement of the corporate social responsibility strategy.
The materiality analysis involved the company management and was strengthened via direct communication with stakeholders of the Group (included employees) by means of a survey on-line. The analysis confirmed some materiality issues identified last year with some new entries as for instance Human Rights.
The materiality analysis is conducted to identify the most significant topics for the Company and Stakeholders
The analysis started with an identification of the topics.
The analysis started with an identification of the topics noted in the main sustainability guidelines (ISO 26000, GRI and SDGs), which are considered to be representative of the perspective external to the company, as they were identified as a result of multi-stakeholder dialogue at international level. These topics were then contextualised with respect to Snam’s main business sector, Utilities, through benchmarking carried out with the sustainability reports of the main sector companies at international level, as well as questionnaires of the most important rating agencies. The following were analysed to define the materiality of the relevant topics highlighted:
- The sector environment, public opinion and the pressures on the company, which make it possible to evaluate the evolution of political, economic and social phenomena at global and local level that could influence Snam’s strategies in the short and long term, as well as identify new topics and strengthen those already identified by analysing press reviews, media and the web;
- The perception of topics from the point of view of external stakeholders using engagement instruments that bring to light the doubts, tips and observations of key stakeholders with respect to sustainability and governance;
- The Code of Ethics and policies adopted by Snam;
- Topics from the internal point of view through interviews with function managers.
To define which themes are most significant, we proceeded to analyse the issues both from the company’s and from the stakeholders’ perspective, through a special on-line survey.
The joint consideration of internal and external significance of each single issue led to the identification of the priority and materiality areas.
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 (Ethic and compliance: Perform the activities with loyalty and fairness in compliance with the laws, regulations, regulations and supplementary and improvement company provisions.
Human Rights: Promoting respect for human rights throughout the value chain (suppliers, employees, customers, etc.).
Reputation and brand: Enhance and protect the corporate brand and image through constant relationships, mainly with the financial community and investors.
Corporate Governance Transparency: Completeness in corporate governance with particular attention to the issues of remuneration and balanced participation in the main corporate governance bodies by promoting specific systems for reporting irregularities and possible illegal behavior.
Business continuity and cyber security: Ensuring the reliability of services and the development of emergency management plans aimed at preventing and / or mitigating potential external factors that could compromise the continuity of services; guarantee of high security standards in infrastructure management (cybersecurity).
Relations with Regulatory Authority: The quality and regularity of relations with the Regulatory Authorities hold a fundamental role in the choice of infrastructural Investments.
Technological innovation and infrastructure integrity: Technological innovation has a strategic role in the network safety and in the achievement of the environmental objectives of increasing energy efficiency and reducing the emissions of greenhouse cases, in line with the Europe 2020 Strategy.
Climate Change: The greenhouse gas emissions are considerated the main responsible for climate change to be in progress. An appropriate strategy to decrease GHG is needed.
Energy efficiency: Develop initiatives to improve energy efficiency in the Group's plants and sites.
Renewable energy sources: Promote a more sustainable business conduct through the use and production of renewable energy sources.
Protection of land and biodiversity: The infrastructural initiatives that accompany network development may generate local conflicts. In order to avoid these phenomena, the procedures of engagement of the local communities concerned should accompany the various phases of the initiative, from planning and definition of layouts, to restoration works and re-establishment of habitats.
Sustainable mobility: To make the Group's mobility system more efficient, with particular attention to transport and daily movements by employees; promote the use of vehicles with low environmental impact.
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.
Quality and development of services: The increase in competition and flexibility of the sector in favour of end customers (service quality and lower costs) calls for constant updates to a company’s commercial offer, keeping the level of service quality always high.
Engagement of local communities: Develop and promote strategies for dialogue with stakeholders and involve local communities in order to develop project activities capable of effectively responding to expectations.
The relevant issues are issues less meaningful than material issues. These themes are nontheless managed and accounted by the Company.
- Supply Chain Management
- Air Protection
- Water Management
- Soil, Underground and Ground Water Protection
- Waste Management
- Noise Pollution Protection
- Work Life Balance
- Diversity and Equal Opportunities
16 May 2018 - 18:10 CEST