Snam and Global compact
Snam joined the CFO Task force, which prepared the first integrated principles for finance and investment related to the UN Sustainable Development Goals (SDGs).
At the UN Climate Action Summit, which was held in September 2019 in New York, Snam joined the Zero Coalition, an alliance of the main global businesses and associations aimed at the decarbonisation of shipping
Together with the Global Compact Network Italia Foundation, Snam takes part to the EU Peer Learning Group - Climate
The climate challenge we face requires an effort on the part of companies and all the actors in the economic system. As Snam, we are committed to fully integrating ESG factors into our strategies, also acting as a forerunner for new sustainable finance instruments to support the energy transition. At the same time, we bring our expertise to international markets, both through our core business and new activities, to contribute to global decarbonisation.
Chief Financial Officer and Chief International & Business Development Officer
Global Compact is an international initiative which sustains ten universally accepted principles relating to human rights, labour, the environment, anti-corruption, uniting governments, companies, UN agencies, labour organisations and civil society.
Snam’s commitment to doing business according to a sustainable development model, to respect and protect human rights and labour and the environment, was renewed in 2009 with its membership of Global Compact, the largest voluntary initiative in the world on sustainability issues, launched in July 2000 by the United Nations.
The Global Compact principles are universally shared and accepted, as they are based on the: the Universal declaration of Human Rights , the Declaration on Fundamental Principles and Rights at Work, the Rio Declaration, and the United Nations Convention against Corruption.
By becoming part of this initiative, Snam has joined a universal network of companies willing to implement change, alpromote good corporate citizenship and search for innovative solutions and partnerships.
Snam wants to confirm and reinforce its commitment as a socially responsible company and participate in various initiatives promoted at international level such as the CFO Task-force that prepared the principles for the integration of SDGs in finance and investment and the Zero Coalition to reduce emissions in maritime transport.
In view of the benefits derived from this initiative, such as access to the broad and deep experience of the United Nations with regard to sustainability and development issues, the use of Global Compact management tools and resources, and the opportunity to be involved in specific working groups, Snam is committed to work on several fronts:
- implement all the necessary changes to ensure that Global Compact and its principles become part of the company’s strategy, culture and daily operations;
- promote and increase awareness of Global Compact and its principles through its own communication channels;
- implement an annual Communication on Progress (CoP), a tool used to inform its stakeholders in a transparent and continuous manner of ongoing activities and achievements in the practical application of the ten Global Compact principles.
In 2021, Snam joined the Board of Directors, with the Vice Presidency, of the Global Compact Network Italia of which is founder member.
In 2020, Snam joined the CFO Task force, which prepared the first integrated principles for finance and investment related to the UN Sustainable Development Goals (SDGs). These principles, presented at the UN Private Sector Forum on 21 September, aim to guide companies to match their sustainability commitments and credible financial strategies in order to create real impact on SDGs, particularly on four key areas for SDG investments that need improvement: impact and measurement, integrated strategies and investments, integrated business finance and integrated communication and reporting.
At the UN Climate Action Summit, which was held in September 2019 in New York, Snam joined the Zero Coalition, an alliance of the main global businesses and associations involved in the maritime, energy, finance and infrastructure sectors, aimed at the decarbonisation of shipping. From this perspective, the members of the coalition are committed to promote the adoption of zero emission ships by 2030 and advocate the development of clean energy sources.
Still in 2019 Snam participated to the EU Peer Learning Group Climate, a working group organised by Global Compact Italia network together with other local network aimed at exchanging best practices and tips about the climate change issue.
Snam publish its Communication on Progress within the Sustainability Report through the use of a reconciliation table. Besides, since 2022, adheres to CoP early adopter programme which involves a public survey compilation.
Download the Reconciliation Table
Principles 1 and 2
Businesses are required to promote and respect internationally proclaimed human rights within their sphere of influence and ensure that they are not complicit in human rights abuses, even indirectly.
- In April 2017 Snam adopted a Policy about Human Rights
- Snam operates in the framework of the United Nations Universal Declaration of Human Rights, the Fundamental Conventions of the ILO - International Labour Organisation - and of the OECD Guidelines for Multinational Enterprises and the principles enshrined in the United Nations Global Compact (principles enshrined in its own code of ethics.
Read about this subject in our Code of Ethics
- Snam promotes sustainability and business ethics in its supply chain and conducts audits in the field of human rights, occupational safety of suppliers and subcontractors.
Read about this subject in Growing with our suppliers
- Snam safeguards occupational safety and health through training, awareness raising and education initiatives
Read about this subject in Safety culture
Principles 3, 4, 5 and 6
Businesses are required to uphold freedom of association and the recognition of the right to collective bargaining; the elimination of all forms of forced and compulsory labour; the abolition in practice of child labour; and the elimination of all forms of discrimination in respect of employment and work
- Snam respects everyone’s dignity, and offers equal opportunities in every phase and every aspect of the employment relationship, avoiding all forms of discrimination based on sex, age, health, nationality, political opinion or religious views. Since 2019 Snam adopted the Policy Diversity & Inclusion which was followed by two appendixes during 2020 about Gender equality and Recruiting and one appendix about Harassment during 2021.
Read more about the subject in The importance of diversity
- Snam applies the Energy and Petroleum agreement and guarantees trade union rights for all workers and holds numerous meetings with Trade Union organisations at a national and local level dedicated to the analysis of business development projects and new organisational structures.
Read more about this issue in Workers at the core
- Snam develops initiatives to reconcile work and life
Read more about the subject in Employee initiatives
- Snam provides its employees with training and professional development opportunities
Read the report in Promoting talent
Principles 7, 8 and 9
Businesses are required to provide support for a precautionary approach to environmental challenges; to undertake initiatives to promote greater environmental responsibility; and to encourage the development and diffusion of environmentally friendly technologies.
- Snam develops projects to strengthen its operational excellence and to contribute to the containment of greenhouse gas emissions. In 2020 Snam declared its strategy to reach net zero carbon for Scope 1 e Scope 2 emissions at 2040 and in 2021 set targets about scope 3 emissions reduction for suppliers and associates.
Read more about this topic in Strategy for future
- Protecting the environment and biodiversity are integral parts in defining Snam’s corporate policies and investment decisions
For more details go to the page dedicated to Biodiversity
- All of Snam’s activities are monitored by certified environmental management systems (ISO 14001)
Read more about this topic in Environmental management systems
- Snam performs specific energy management and CO2 saving activities
For more details go to the page dedicated to Climate Change
- Snam also evaluates it suppliers using environmental criteria
Read more about this topic in Supplier sustainability
- Principle 10
Businesses are committed to working against corruption in all its forms, including extortion and bribery.
- Snam disseminates ethical principles and business values
For more details read the page Business conduct
- Snam collaborates with International Transparency International on anti-corruption and governance
For more details read the page Business conduct
- Snam provides training activities in matters of legality and anti-corruption
Read more about it in Promoting talent
- Snam conducts reputational checks of suppliers and subcontractors
For more details read the page Supplier sustainability
- No cases of corruption were reported in 2021
For more details read the page 320 of our Non-Financial Statement
Snam and the Sustainable Development Goals
The Sustainable Development Goals (SDGs), officially known as "Transforming our world: the 2030 Agenda for Sustainable Development", are an intergovernmental set of aspiration Goals with 17 targets promoted by United Nations.
Snam, also undertakes to contribute to the sustainable development of the economy and future society with reference to the Sustainable Development Goals defined by the UN and expresses its contribution to all the goals. With reference to the strategy of the integration of SDGs into the business model, Snam is particularly active in goals 3, 5, 7, 8, 9, 10, 11, 13, 12, 15, 16 both through its new ESG Scorecard and both trough the strategic plan 2021-2025.
Read more about it in the page dedicated to SDGs.
09 May 2022 - 18:05 CEST