12 IMPACT: Going beyond the numbers MEETING THE EVOLVING CHALLENGES OF sustainability reporting in the new Integrated Report What were the main challenges your team faced in terms of collecting nonfinancial data for the Integrated Report? To bring sustainability governance to the same level as financial reporting governance is an extremely challenging work that takes a lot of time. The levels of sensitivity in countries and regions are very different. We started with the environmental world, such as emissions, because it was easier given our long experience with it. Scope 1, Scope 2, and Scope 3 are already externally audited in our Non-Financial Disclosure document. The lack of environmental standards in the world makes it extremely sensitive. Science Based Target initiative is one of the few, for emissions. After that, everything else is very much left to the decision-making discretion of companies. We did a lot of benchmarking where there were no rigorous standards, and we tried to refer to best practices. Our goal is to be considered a best practice, also because as a leader in our sector we feel the responsibility to promote ESG initiatives along the value chain. We are ready to take the next step, which means setting priorities and internally helping to support regions, countries, and colleagues to become aware of what we are doing. Did you create a new team to meet this challenge? We created an integrated team by giving responsibility for governance and internal control systems to our finance administration colleagues. Chief Sustainability Officer and Investor Relations Director Cristina Bifulco explains how the group adopted new and more rigorous standards in sustainability reporting.
RkJQdWJsaXNoZXIy Mzc4NjU=