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TOP CONTENT

2020 Sustainability Report. Prysmian sets science-based “net zero” targets, a new climate strategy

 

Our 2020 Sustainability Report’s narrative structure is based on the “house-shaped” model that the company has adopted to create value for local communities.

In this model, the apex or “roof” of the building is stakeholder value creation, which is the focus of the Group’s sustainability strategy and is described in the first chapter of the report.  Value creation interacts with ESG identity, which supports the “roof” and is incorporated into the company’s DNA in a manner described in the second chapter. The load-bearing part of the structure is the ESG governance (third chapter), which rests on a solid foundation of People, Culture & Organization; Sustainable Innovation and Lean Manufacturing; and the Extended Value chain of customers and suppliers.

We have announced an ambitious new climate strategy adopting science-based targets, in line with the requirements of the Paris Agreement, and endorsing the Business Ambition (1.5°C), with a “net zero” target expected to be achieved between 2035 and 2040 with regard to the emissions generated by its operations (Scope 1 and 2) and by 2050 for emissions generated by the value chain (Scope 3).

 

According to our 2020 Sustainability Report, 48% of our total revenues were attributable to “low carbon enabling products”, using the Climate Bond Initiative taxonomy, that facilitate the energy transition and achieving the Paris Agreement target, as well as contributing to the digitalisation of energy grids. 

We have also announced to invest €450 million by 2022 in order to improve further the sustainability of our organisation and supply chain, and accelerate the development of advanced cable technologies, assets and services.

 

“People first” has been our priority in the year of the Covid-19 pandemic. Among the initiatives, the allocation of 29% of investments to health and safety in work environments (ongoing tests, distribution of healthcare materials and PPEs), the promotion of remote working to all employees. The injury frequency rate (IF) decreased to 1.25 (1.31 in 2019). D&I continued to be key focus points through the Side by Side project: in 2020, the percentage of executive women reached 13% (12% in 2019) and female white-collar represented 34% (33% in 2019). The Leadership Impact Index (57%) and Employee Engagement Index (65%) - which measure the employees’ participation to corporate life - increased.

In line with our sustainability targets, in 2020 we adopted a management incentive scheme linked to the achievement of objectives for the improvement of ESG parameters such as gender diversity within management, the reduction of CO2 emissions and topics relating to occupational health and safety.

Discover the interactive version of our Reports

Sustainability Report 2020

SASB Report 2020