Snam draws the 2018 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 2018
Snam takes part in the Business Network run by the International Integrated Reporting Council (IIRC), 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.
Snam has adopted a different approach in its 2018 sustainability report, including the concept in the name of the document. In fact, this year’s edition has a new title: “The energy of change. The company amidst climate challenges and sustainable finance – 2018 sustainability report”.
The document is made up of two parts: the first part refers to guidelines, studies and analysis of institutions and research bodies that have recently focused their attention on the close correlation between climate, finance and reporting, for example the 2018 IPCC Report on climate changes, the guidelines of London Stock Exchange that recognize in the UN SDGs a reference for the investments choice, the Task Force on Climated Related Financial Disclosure to which Snam adhered. In this context, the chapter shows the role that Snam is playing in relation to the climate change challenges (the TEC project, sustainable mobility, biomethane) and sustainable finance (sustainable loan, sustainable bond).
Part two of the document, organised according ESG (Environment, Social, Governance) areas, 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).
At the end of 2018, 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 2018 was performed by PwC which, once the audit was complete, issued an independent report.
> Download the reports for previous years
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.
- 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
03 February 2020 - 11:55 CET