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Materiality Analysis of the Group

OVERVIEW

Materiality Analysis

Each year, Prysmian Group carries out a materiality analysis to identify the economic, social and environmental topics that are most important, or material, to our stakeholders.

We updated our materiality analysis in 2021 in a process that helps us identify the latest trends in sustainability, integrate the expectations of stakeholders in our business activities, and define reports that satisfy the requirements of stakeholders and the priorities of the Group priorities.

We update our materiality analysis in two steps. During the desk analysis phase, we look at sources including:

  • reports and articles on global trends (e.g. World Economic Forum);
  • industry trends/reports;
  • sustainability reports/non-financial statements of peers and competitors;
  • regulatory developments (e.g. Decree 254 on non-financial disclosures, the European Taxonomy).

The updated list of topics assessed in 2021 is presented below:

Prysmian’s People

 

  • Involvement and upskilling of employees
  • Diversity, inclusion and equality
  • Occupational health and safety
  • Respect for human rights and workers’ rights
Environment

 

  • Decarbonisation pathway to net-zero emissions
  • Waste management and recycling
  • Efficient use of water resources
  • Biodiversity
  • Efficient use of raw materials
Products

 

  • Customer centricity
  • Technological development and Eco-design innovation
  • Solutions for sustainable applications
Local communities

 

  • Community involvement
Supply chain

 

  • Sustainable supply chain
Corporate governance and compliance

 

  • Economic performance and value creation
  • Business ethics and integrity
  • Cyber security and data protection
  • Governance and transparency

After the desk analysis, a set of chosen topics were assessed by both external stakeholders and top management, assigning an order of priority (from 1 to 5).

This process took place in 2021 through stakeholder engagement activities like our Sustainability Day, as well as through digital events and subject workshops, surveys of external stakeholders, a “Speak-Up Survey” of employees, an internal survey of 400 senior leaders within the Group, and interviews with main investors.

Top management, Sustainability Committee, and Sustainability Steering Committee were involved in the process, which was carried out according to GRI standards.

The finalised matrix was reviewed by both the Sustainability Steering Committee and the Sustainability Committee.

 

The results are formulated in a matrix that was reviewed by both the Sustainability Steering Committee and the Sustainability Committee.

Specifically, “Occupational health and safety” was identified as the most important topic in 2021 by both external stakeholders and the Prysmian Group.

The four issues considered to be a priority by the Group and by Prysmian’s stakeholders are:

  • Occupational health and safety: the Group intends to reduce the number of injuries and occupational diseases and, via suitable training programmes, develop a culture of prevention and management covering these two aspects.
  • Business ethics & integrity: the Group is committed to a management model based on the most rigorous standards of business ethics & integrity.
  • Respect for human rights and workers’ rights: the Group implements policies and actions to protect human rights throughout the entire value chain (banning child and forced labour, respect for freedom of association and collective bargaining, fair pay); and by development of collaborative relations with the trade unions.
  • Economic performance and value creation: the Group seeks to promote long-term value for all categories of stakeholder, facilitating business development and providing sustainable solutions.

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