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TOP CONTENT
OVERVIEW

Materiality Analysis

Each year, Prysmian Group carries out a materiality analysis to identify the economic, social and environmental topics that are most important, or material, to our stakeholders.

We updated our materiality analysis in 2020 in a process that helps us identify the latest trends in sustainability, integrate the expectations of stakeholders in our business activities, and define reports that satisfy the requirements of stakeholders and the priorities of the Group.

We update our materiality analysis in two steps.

During the desk analysis phase, we look at sources including:

  • reports and articles on global trends (e.g. World Economic Forum);
  • industry trends/reports;
  • sustainability reports/non-financial statements of peers and competitors;
  • regulatory developments (e.g. Decree 254 on non-financial disclosures, the European Taxonomy).

The updated list of topics assessed in 2020 is presented below:

Prysmian’s People

 

  • Human capital development and well-being
  • Multiculturalism, diversity and equal opportunity
  • Occupational health and safety
  • Respect for human rights and workers’ rights
Environment

 

  • Energy efficiency and climate change mitigation & adaptation
  • Waste management and recycling
  • Efficient use of water resources
  • Biodiversity
  • Efficient use of raw materials
Products

 

  • Customer centricity
  • Technological development and Eco-design innovation
  • Solutions for sustainable applications
Local communities

 

  • Community involvement
Supply chain

 

  • Sustainable supply chain
Corporate governance and compliance

 

  • Business ethics and integrity
  • Cyber security and data protection
  • Governance and transparency

During the second phase, a set of chosen topics were assessed by both external stakeholders and top management, assigning an order of priority (from 1 to 5). This process took place in 2020 through stakeholder engagement activities like our Sustainability Day, as well as through digital events and subject workshops, surveys of external stakeholders, a “Speak-Up Survey” of employees, and an internal survey of 400 senior leaders within the Group. Top management and the Sustainability Steering Committee were involved in the process, which was carried out according to GRI standards.

The results are formulated in a matrix that was reviewed by both the Sustainability Steering Committee and the Sustainability Committee.

The three issues considered to be a priority by the Group and by Prysmian’s stakeholders are:

Ethics and integrity: doing business based on the most stringent standards of ethics and integrity, especially regarding corruption.

Occupational health and safety: reducing the number of injuries and occupational diseases and developing a culture of prevention and management covering these two aspects, via suitable training programmes.

Customer Centricity: a market approach that places the customer and product quality at the center of strategic and organisational decisions.