Snam considers sustainability to form an integral part of its business model. It is in fact a leading factor in defining the company’s strategic and operational decisions and a lever for long-term sustainable growth. Meanwhile it delivers the shareholders’ expected results, sharing the value generated with all of its stakeholders including in terms of environmental and social issues.
The Company bases the day-to-day conduct of its activities on the principles set out by international bodies and conventions on the protection of human rights, employment and trade union rights, health, safety and environmental rights, repudiation of forced labour, child labour and any form of discrimination, and on conformity with values and principles concerning fairness, transparency and sustainable development. These principles are listed in the Code of Ethics adopted by all the companies, which are fundamental in orientating the conduct of personnel and for responsible management of relationships with the stakeholders.
In order to give greater visibility to this commitment Snam is a signatory to the UN Global Compact. This international initiative upholds ten universal principles concerning human rights, employment, the environment and the fight against corruption, and brings together governments, businesses, United Nations agencies, labour organisations and civil associations, with the aim of contributing to the creation of a more inclusive and sustainable global economy. Snam’s commitment to Global Compact also continued in 2011 with numerous activities for engagement and proliferation of the ten principles by participating both actively as a member of the Global Compact Network Italy in the meetings of the Environment and Human Rights Working Groups and in specific initiatives aimed at its stakeholders.
The Snam sustainability management model extends to all group companies and is integrated into all phases of the corporate business process (Planning, Management, Control, Reporting and Communication). The Board of Directors takes on a central role in defining the policies, while the Sustainability objectives, submitted for the approval of top management, are pursued by means of specific short- and medium-term projects and initiatives included in the company’s action plan. All of the activities provided for by the model are coordinated by the Snam sustainability office with the participation of the various Snam offices and subsidiaries.
Snam publishes its sustainability balance sheet annually, which is considered to be an important instrument for strategic control and communication with stakeholders. The balance sheet, approved by the Board of Directors at the same time as the annual financial report, examines the activities carried out according to economic efficiency, environmental protection and social protection, providing the performance indicators on which the business is measured and compared publicly.
The results achieved and maintained over time have enabled the Snam stock to maintain its position in the main ethical indices such as the Dow Jones Sustainability Index World, the FTSE4Good Europe Index, the FTSE4Good Global Index and the ECPI Ethical Index Euro. In 2011 the Snam stock came to form part of the Stoxx Global ESG Leaders indices, a new group of indices based on a transparent process of selection of the performance, in terms of sustainability, of 1,800 companies listed worldwide.