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Flying the flag for sustainability

Lorenzo Caruso, Corporate and Business Communications Director at Prysmian Group, explains the important progress that continues to be made in making sustainability an ever-more integral part of company activity, as detailed in the 2016 edition of the Sustainability Report, which also sets the Sustainable Development Goals to be achieved by 2020.

Being the leader in our industry carries the responsibility of a sustainable approach in all its forms to all our business, and beyond”. Lorenzo Caruso believes that a sustainability strategy should go far beyond due commitment to the environment or the capability of creating lasting value for all stakeholders. In the Group’s vision, sustainability encompasses all activities that the company, directly or indirectly, is responsible for. “We boast a particular focus on sustainable, technological innovation in the solutions we offer”, says Caruso, “as well as on the environmental responsibility of processes, on environmental protection and the management of relations with local communities”.

Prysmian took an important new step in 2016 to further integrate sustainability matters into its business activities by defining a Sustainability Policy that establishes the Group’s strategic priorities for the medium-long term. The strategy makes reference to the Sustainable Development Goals (SDGs) promoted by the United Nations, the principal international indicators and the expectations of our stakeholders. “Thus we were able”, explains Caruso, “to identify the emerging trends with regards to sustainability and determine the strategic priorities, objectives and actions for the creation of shared value”.

Specifically, Prysmian has selected the five Sustainable Development Goals to which it will contribute the most, and translated them into a Sustainability Plan consisting of priorities, objectives and actions consistent with its business and corporate values. “Building on this,” Caruso adds “the Group has also devised a ‘scorecard’ that identifies 16 sustainability targets to be met by 2020, each measured by quantitative KPIs that will be monitored closely so progress can be reported on a regular basis”.

A NEW SUSTAINABLE HOME

Extending over about 22,000 m2 , the new headquarters in the Milan district of Bicocca was designed specifically to obtain the international LEED Platinum certification, which sets the standard for the measurement and evaluation of sustainable buildings. The central theme of the new headquarters is Smart Working, as an innovative and functional approach to the time spent in the working environment.

COMMITTED TO THE PLANET

As the global leader in its industry, Prysmian provides the economies of the world with power and communication, it lights up cities, it helps people to move and communicate. By doing so, it makes a strong contribution to lasting and sustainable economic development. The Prysmian world is the world of its clients – the main power and telecommunication operators of the globe, and the entire society that benefits from their services. Because the Group shoulders such a great responsibility, it also believes in and respect the importance of sustainability, makes it happen by continually searching for innovative technological solutions.

With this goal in mind, the Group took important steps over 2016 to further integrate sustainability matters within its business activities and defined a Sustainability Policy that establishes the strategic priorities for the medium long term, making reference to the Sustainable Development Goals promoted by the United Nations, the main international indicators and the expectations of our stakeholders.

A RESPONSIBLE APPROACH

In order to manufacture certain safety cables and make them fire resistant, Prysmian purchases limited amounts of tape that contain small quantities of mica-glass. However, we do not use this mineral directly. The extraction of this mineral can often involve under-age labour, especially in areas such as India where large quantities are mined. The Group tackled this issue in 2016 by requesting that all suppliers complete a questionnaire certifying the absence of child labour anywhere in the supply chain.

Creating and distributing value

€1,710 million. The economic value generated by Prysmian.

With sustainability key to our growth strategy, Prysmian has a process designed to help formulate objectives that are in line with sustainability guidelines and to map out a plan of action that ensures their implementation.

This work is being performed in a manner consistent with the identity of the Group and its business priorities, having regard for the expectations of stakeholders. Prysmian Group makes a continual effort to create and distribute value that, in various forms, is distributed to the stakeholders in several ways: remuneration for human resources, remuneration for lenders through interest payment, remuneration for Group shareholders through dividends, remuneration for the public administration, and gifts and donations to the community.

The value retained by the Group is represented by the profit reserves carried forward. As of the end of 2016 the economic value generated by Prysmian, net of reclassified costs, amounted to around €1,710 million or about 23% of consolidated sales. The largest part of this value, or 62%, is represented by the remuneration of human resources, followed by the remuneration to lenders, shareholders and the public administration, and contributions to the community. The remaining 21% represents the value retained by the business.

ENGAGING STAKEHOLDERS

In 2016 Prysmian continued to organise its multi-stakeholder engagement events. A programme originally initiated in 2014, it held its third such event in Pikkala, Finland, home to an important submarine cables plant.