Snam draws the 2021 Sustainability Report as "in accordance" - comprehensive according the GRI standards
The Report is prepared in accordance with the GRI standards 2016: the analysis of materiality was updated in the 2021
Snam takes part in the Business Network run by the Value Reporting Foundation, an international organisation that defines the guidelines for the integrated report
Snam has published its Sustainability Report which is an integral part of the Company’s sustainability management model.
Since 2006, Snam is committed to publish its Sustainability Report on an annual basis. This document, which integrates environmental issues with economic and social ones, is the result of the evolution of the Health, Safety and Environmental Report that the company has published since its formation in 2001, and since 1994, as Snam S.p.A.
The sustainability report is an integral part of the sustainability management model is, which enables Snam, on a yearly basis, to check the progress made, identify opportunities for improvement and strengthen its relationship and collaboration with all its stakeholders.
The 2021 sustainability report is composed of two parts: the first part is dedicated to the challenge posed by climate change and the role of Snam as the Country's decarbonization enabler. In particular, we represent the updated Net Zero Carbon strategy that aims to achieve carbon neutrality with respect to scope 1 and scope 2 emissions by 2040, ahead of the European targets for 2050, the new targets about scope 3 emissions reduction involving associates and suppliers and the updated ESG scorecard, the tool that sets objectives in 14 material areas covering social, governance and environmental aspects and monitoring them annually. Ample space has been given to all the projects that contribute to achieve these objectives: the development of hydrogen and biomethane describing its possible applications in the technological and industrial field and highlighting Snam's commitment in these areas with reference to its business strategy and its recent acquisitions.
Part two of the document, organised according ESG (Environment, Social, Governance) areas of the ESG Scorecard, presents the sustainability information and performance in compliance with the “In accordance - Comprehensive” option of the CONSOLIDATED SET OF GRI SUSTAINABILITY REPORTING STANDARDS 2016 (GRI standards).
A novelty of 2021, besides the presence of a reconciliation table with SASB (Sustainability Accounting Standard Board standards) for the reference business sector "OIL & GAS – MIDSTREAM", is the addition of another reconciliation table with the metrics proposed by the framework "Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting for Sustainable Value Creation", which Snam signed in 2021, defined by the International Business Council (IBC) of the World Economic Forum (WEF), of which the Company is a partner from 2019.
These tables will allow the reader to find the information required by these standards in the Sustainability Report and the Annual Financial Report.
At the end of 2021, Snam updated the topics that historically fell within the remit of sustainability, to focus on those of a more material nature. To define the issues that are most significant, Snam proceeded to analyse both the perception of the issues from the company's perspective and the perception of the issues from the stakeholders' perspective.
The joint consideration of internal and external significance led to identifying areas of priority and materiality.
Acquisition processes, reporting criteria and results are verified annually by an external auditor
An external auditor is then engaged on an annual basis to analyse the information acquisition processes, reporting criteria and results according to the ISAE 3000 standard of the International Auditing and Assurance Standards Board (IAASB), an international standard used to audit non-economic/financial reports.
The activity is carried out in order to verify compliance with the principles for drafting Sustainability Reports (GRI standards) as described in the methodological note of the Report (for example analysis of the process of definition of material aspects accounted in the report).
The Assurance activity for 2021 was performed by Deloitte which, once the audit was complete, issued an independent report available at the end of the Sustainability Report.
Snam’s COP for Global Compact it is classified as “advanced" level.
In addition, Snam, like all organisations participating in Global Compact, must provide an annual communication on progress. Snam classify its COP as “advanced” level according to 24 criteria related to strategy, governance and stakeholder engagement, UN scopes and objectives, protection of human rights, labour and the environment, anti-corruption and creating a value chain.
- 2020 Sustainability Report
- 2019 Sustainability Report
- 2018 Sustainability Report
- 2017 Sustainability Report
- 2016 Sustainability Report
- 2015 Report on Corporate Social Responsibility
- 2014 Sustainability Report
- 2013 Sustainability Report
- 2012 Sustainability Report
- 2011 Sustainability Report
- 2010 Sustainability Report
- 2009 Sustainability Report
- 2008 Sustainability Report
- 2007 Sustainability Report
- 2006 Sustainability Report
29 March 2022 - 17:09 CEST