Our 2021 Sustainability Report strives to explain how the consolidation of our ESG (Environment, Social, Governance) Identity is, today, the key factor in our leadership and makes us a sustainability champion for the entire value chain.
The structure of the Report seeks to trace a path that can be read outwards, starting from within Prysmian (diagram below). The concept describes a Group committed to the further integration of ESG within its governance and strategies, in order to make an external impact via the development and achievement of its sustainability ambitions.
The framework within which the path evolves, focuses on the broadest and most encompassing objective: stakeholder value creation. The commitment of the Group to environmental and social matters, is confirmed by the preparation in 2021 of two key documents: Climate Change Ambition and Social Ambition. These describe the ambitions and the targets set by Prysmian, in order to make a concrete contribution to sustainable development.
The real conceptual journey commences from the central core of our sustainability system: our ESG Identity (first ring). Here we explain how critical environmental, social and governance factors are being progressively integrated into our corporate DNA. The second ring describes how this identity gathers around itself an innovative decision-making and operational model: our ESG Governance. By this we mean the mechanisms that connect our sustainability strategies with our operations and align the Company with its stakeholders. The triangle presents the three drivers used by Prysmian to promote sustainability: our ESG Ambitions. In particular, People, Culture & Organisation focuses on our Social Ambition in confirmation of the people-centric nature of the Prysmian culture and organization; Sustainable Innovation & Lean Manufacturing describes our innovation ambition in terms of the technological aspects that make us a benchmark for the measurement of sustainable products; Extended Value Chain leads us to examine the sustainable leadership of Prysmian both up and downstream of the value chain: our ESG Value (external ring).
This highlights the role of Prysmian as a champion, capable of sustaining and promoting the creation of sustainable value for both customers and stakeholders.
The SASB Report refers to the 2021 financial year (from January 1st to December 31st) and includes the most recent year-end figures available. The data and information reported refer to all companies of the Prysmian Group at December 31, 2021, consolidated on a line-by-line basis. Within the report are included figures of 2020 as a comparison year.
In order to further confirm the Group’s commitment to managing climate-related risks and opportunities, Prysmian, together with the Control and Risk Committee and the Sustainability Committee, launched the process for fully integrating the framework recommended by the Task Force on Climate-Related Financial Disclosures (TCFD) established by the Financial Stability Board (FSB).