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As part of the process of continuous improvement, Prysmian has prepared its Report in conformity with the new «G4 Sustainability Reporting Guidelines», applying the Core option. Adoption of these guidelines, defined in 2013 by the GRI – Global Reporting Initiative, increases the breadth and depth of the topics covered and confirms Prysmian’s constant commitment to making the reporting process ever more complete and effective.
As a public company, Prysmian is aware of the important role played a system of corporate governance in guaranteeing the same level of protection for all categories of stakeholders. Precisely for this reason, the Group's system of corporate governance is focused on the creation of sustainable value for stakeholders over the long term, in the belief that pursuit of this objective will activate a virtuous spiral of effectiveness, efficiency and corporate integrity.
The Group's action and procedures are designed to provide the market with credible information about the business, thus boosting confidence in the Company and encouraging a long-term investment approach to its shares. Every effort is made to avoid biased disclosures and ensure that all investors and potential investors receive the same information so that balanced investment decisions can be made.
In order to guarantee the transparency of information flows, Prysmian organizes conference calls with institutional investors and financial analysts upon publishing its quarterly data, and also invites specialist media representatives to take part. Furthermore, Prysmian promptly informs shareholders and potential shareholders about every action or decision that could have a material impact on their investment.
The increasing attention paid to the activities of the Group by socially responsible investors (SRI) was confirmed by their growing attendance at the road shows and meetings held for them.
Economic value represents the wealth produced by the Group that, in various forms, is distributed to stakeholders in the following ways: renumeration of human resources (direct renumeration, comprising wages, salaries and severance indemnities, and indirect renumeration in the form of social security and pension contributions), renumeration of lenders (interest expense), renumeration of Group shareholders (dividends paid) and other investors, renumeration of the Public Administration (total taxes paid), gifts and donations to the community.
The value retained by the Group is presented by the profit reserves carried forward.
The ability of the Group to pursue a policy of responsible business growth derives from Prysmian’s capacity to react and respond rapidly to global market requests, via a policy of selective investment that targets the development of strategic and sustainable commercial and manufacturing synergies
.The total spending by Prysmian on Research, Development and Innovation during 2014 amounted to about 87 million euro*, confirming out constant commitment and focus on sustainable growth over the long term.
The Group constantly strengthens relations with strategic suppliers, centralising procurement and leveraging a global approach marked by a single organisational model, common processes and a system for the management of commodities.
* inc. 71 million opex and 16 million capex.
The Group’s commitment to safeguarding the environment and conserving natural resources is expressed not only by the intrinsic characteristics of our products, but also by how the production systems are managed. In particular, the prevention and reduction of their environmental impact is achieved, for example, by the efficient use of natural resources, the optimisation of logistics flows and the responsible management of waste.
In terms of energy efficiency, in 2014 the Group has participated once again in the Carbon Disclosure Project (CDP) which seeks to contribute to the pursuit of the objectives agreed in the Kyoto Protocol regarding the global reduction of greenhouse gas emissions.
Social responsibility
Within the social dimensions of our business, Prysmian recognizes its commitment and responsibility towards the persons who work for the Group, as well as those who form the local communities in the territories in which we are active.
People are the most important resource for creating, within a global company such as Prysmian, the cohesion needed to compete at the highest level in the business sectors addressed, while also pursuing the objective of generating lasting and sustainable value.
Investing in our people
For the Prysmian Group, intellectual capital and talent are strategic assets for the achievement of our profitability and value creation objectives and, as such, must be supported by appropriate actions to develop and enhance their worth.
Three significant initiatives have been put in place to strengthen the process of developing our human resources:
Talent acquisition
An international programme for the recruitment and induction of talented new graduates, with a view to nurturing and developing our future managers and professionals. Over 16,000 applications received and about 50 young people selected in 2014-2015.
Training and development
Consisting of managerial and professional training activities. About 600 employees involved in 2014, with a further 600 expected in 2015.
Performance management
A programme for the performance appraisal of employees, as a key part of the management and development of our human resources. About 5,000 staff involved in 2013-2014.
Talent Measurement
A project for implementation of the new performance appraisal system. About 250 executives, middle managers and professionals involved in leadership assessment programmes.
Commitment to the community
The Prysmian Group is committed to building a socially responsible business by supporting, via specific initiatives, the economic, social and cultural development of the areas in which the Group is present.
With a view to defining common, shared rules within the Group for identifying corporate citizenship and philanthropy initiatives correlated with business operations, during 2014 Prysmian decided to update our policy regarding activities that benefit local communities.
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