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Sustainability Report

Sustainability Report

Snam draws the 2020 Sustainability Report as "in accordance" - comprehensive according the GRI standards

Sustainability Reporting Guidelines

The Report is prepared in accordance with the GRI standards 2016: the analysis of materiality was updated in the 2020

International Integrated Reporting Council

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.

The 2020 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 new 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 and the ESG scorecard, the new tool that sets 22 three-year objectives that cover social, governance and environmental aspects by 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 2020 is the presence of a reconciliation table with SASB Sustainability Accounting Standard Board standards) for the reference business sector "OIL & GAS – MIDSTREAM".
The table will allow the reader to find the information required by this standard in the Sustainability Report and the Annual Financial Report.

At the end of 2020, 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 2020 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.

> Download the Communication on Progress 2020 and those for previous years

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Go to the Global Reporting Initiative website

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Find out more about “integrated reporting” on the website of the International Integrated Reporting Council

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Download the Snam's report on climate change

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updated
26 May 2021 - 17:09 CEST