10 IMPACT: Going beyond the numbers What is the strategic significance of the Group’s decision to release an Integrated Report? Our corporate strategy has evolved into a multi-stakeholder approach in response to a growing demand for a more sustainable business, one that takes into account our impact on environment, communities, employees, customers and suppliers. Financial investors, meaning our own shareholders, are taking this view, and as a matter of fact the share of ESG investors in our capital has grown dramatically over the last few years. As usual, we want to be a best in class, even more on matters which affect the future of our own children andwe want to communicate with stakeholders in a new way, which integrates ESG actions and performance into Prysmian business and financial performance. So, what we did was reviewing the system that leads to the creation and formation of all Environmental, Social and Governance KPIs and make it more robust. We decided to make the process a bit more bottom-up, involving the regions. The corporate functions continue to play their roles and oversee the process, timing and accuracy of data. But we felt it was essential to bring the regions more into the process. As shared with our CEO Valerio Battista a couple of years ago, to make the quantum leap we need to bring non-financial reporting to the same level of robustness as financial reporting. What sort of changes to your work methods did this choice entail? We involved the Chief Financial Officers across all our regions, giving them the responsibility of controlling and validating the data provided by the various corporate functions that contribute to sustainability indicators, like purchasing, HR and HSE. Finance is, by its own nature, the corporate function with the most developed skills in defining robust processes and internal control system. So we used these standards and tried to bring the other functional information to the same level. We put a lot of focus into this effort. It was also a great learning process for Finance people as it forced them to get more involved in the operations of Prysmian’s 108 factories. What are the advantages of doing an Integrated Report? It forces you to think in terms of a truly integrated strategy that combines the interests and priorities of all the different stakeholders. For example, the report has a chapter of business and strategy description that is completely new. it is so good to work in a Company We made the decision to release an Integrated Report two years ahead of the regulatory deadline in 2025 because we see it as an opportunity to improve our communication with stakeholders. Our team did an amazing job. Are we there yet? No, not yet. We have taken a first step, but still in my honest view, we can progress much further.
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