Materiality Analysis

Materiality Analysis

In 2016, we updated the work begun in 2014, by carrying out a materiality analysis to map and classify the sustainability matters important to the Group and its stakeholders. These included those with a significant economic, environmental and social impact, which significantly influence the assessments and decisions of stakeholders. It is vital we understand the viewpoints of stakeholders if the Group is to continue to generate shared value over the short, medium and long term, in line with the “G4 Sustainability Reporting Guidelines” defined in 2013 by the Global Reporting Initiative.

Our materiality analysis has been updated to take account of the new needs and requirements of the Group's external stakeholders identified at the multistakeholder engagement event in Pikkala. The output of the analysis identified the most important sustainability matters, providing a starting point for reporting on the significant aspects central to the Group's commitments. Analysis of these matters took account of their impact throughout the entire value creation chain, both within the Group and beyond.

Materiality Analysis

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Economic and Profitability matters

The sustainability strategy adopted by the Prysmian Group is founded on a system of values that mark the behavior of individuals both within and outside the organisation. The Code of Ethics establishes the principles for all to follow, consistent with the vision and mission of the Group while Code of Business Conduct principles apply to the business transactions and daily activities of the employees of all Group entities and their suppliers, commercial partners, commercial agents, sub-contractors and distributors.
Prysmian strives to find technologically advanced solutions and to develop efficient products that are both cutting-edge and sustainable, in order to meet and satisfy the expectations of customers. Quality, an ability to innovate and high value-added solutions mark Prysmian's strategic approach in every sector, whether those in which technology is a differentiating factor or those that are more standardised, such as medium and low voltage cables.
The Prysmian Group seeks to generate innovation, quality and know-how, with a view to developing innovative sustianable products and systems with a lower environmental impact and higher value added for customers, even in those sectors in which products are largely standardized.

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Social matters

Prysmian is committed to respecting human rights via the adoption of a Human Rights Policy, activating a structured, long-term process to support internationally-recognised human rights and avoid any involvement in their violation. Protecting the dignity, liberty and equality of all human beings is the cornerstone of our ethos. The Group rejects all discrimination and illegal deeds or activities, such as corruption, slavery and child labour.
Over the period 2012-2016, the Group designed and implemented a human capital development strategy in order to minimise the errors made when deciding on people and, therefore, to equip the business with valuable resources capable of contributing to future growth and maintaining our global leadership position in the sector. The Human Capital Development strategies based on an integrated management system that can attract, develop, promote and retain talented people. The talent management system is based on four pillars: Recruiting and Talent Acquisition, Training and Development, Performance Management and Talent and Succession Management
The Prysmian Group is as committed as ever to protecting the health, safety and well-being of its employees at their places of work. The objective is to promote activities that take increasing account of health, safety and well-being matters, especially inside working environment.

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Environmental matters

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 our 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
Energy consumption and Greenhouse gas emissions are relevant data to be monitored by Prysmian Group . In order to mitigate externalities, the Group has strengthened the process of collecting energy consumption data in order to track both "direct" emissions (deriving from production processes) and "indirect" emissions (deriving from the energy purchased).
Prysmian is committed in reducing waster consumption also implementing actions, individually and/or collectively, needed for the sustainable management of shared water resources.