The social land in Terranuova Bracciolini in 2015 have already produced its first vegetables and allowed Snam’s compressor station to integrate with the community iself
In 2012, Snam optimised an interpretative model that allowed the Group to review its core business processes from the perspective of shared value
Since 2011, Snam has chosen to pursue its own sustainability agenda according to the Shared Value approach in order to generate value for the company and the communities in which it operates
Shared Value is the new strategic approach for the sustainability of Snam which maximises the creation of shared value for both the company and for stakeholders by concentrating on specific areas of activity with the greatest potential.
Since 2011, Snam has been reviewing and updating its approach to sustainability, incorporating the theme of Shared Value – a concept formalised in December 2010 by Michael Porter and Mark Kramer, influential experts on corporate management and territorial competitiveness.
The assumption behind this approach is the ability of companies to reconcile business and society, enhancing knowledge, practices and initiatives; in essence, it is about creating economic value in ways that simultaneously generate value for the company, for its stakeholders and for the local areas in which it operates.
In order to cascade the shared value approach throughout the company’s operations, Snam developed a summary interpretative model which allowed the Group to review its core business processes in order to systematise them and highlight both the shared value already produced and the opportunity to produce new value.
The relationship with suppliers, the implementation of new investments, the management and enhancement of sites and infrastructures and service provision are the areas with the greatest potential for the creation of Shared Value.
These processes are:
- building relationships with suppliers, to ensure increased reliability, adaptability and competitiveness for the company while generating healthy business development for the national economy;
- making new investments, by sharing with the regions, at a reduced marginal cost, the output generated by the implementation of infrastructure, from the planning stages through to restoration;
- the management and development of sites and infrastructure, to encourage public acceptance of the legitimacy of the networks;
- service delivery, based on the criteria of reliability, continuity and quality while at the same time protecting and consolidating the business and fostering the creation of value.
The basic premise of Shared Value is that the success of all companies is influenced by support services and the infrastructure surrounding them. The company cannot disregard a healthy social and local context, and collaborating to achieve this therefore falls within its objectives.
In light of these changes, the strategic approach based on Shared Value is therefore in a position to maximise the positive impact generated by the company for which the company does not obtain a direct economic return (positive externalities), creating a virtuous link between the quality of the local areas and the competitiveness of the company.
This can be a driver for competitive advantage, contributing to risk management, prevention and mitigation in addition to representing a possible new narrative approach to the company’s business activities.
To create shared value, Snam therefore undertakes to promote sustainable development throughout its transmission, dispatching, regasification and storage processes.
05 April 2017 - 09:43 CEST