Information about this report
This document is Snam’s first Integrated Report, a single document that includes both financial and sustainability content in accordance with the Framework proposed by the International Integrated Reporting Council (IIRC).
The content of the Integrated Report is presented in a format known as integrated thinking, meaning that in addition to the annual operating results, it can present Snam’s business sustainability and value creation model for the medium and long term. If we communicate this process effectively to our stakeholders, they will be able to understand not only our current performance but also, perhaps more importantly, how we will fare in the future.
In compliance with EU Directive 2014/95/EU “Amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings”, we have identified the aspects covered in the Report based on the main factors that influence financial performance and sustainability issues. Starting with this first Report, we aim to make a continued effort to improve the quality of how we disclose non-financial information by following all the guiding principles that underpin the preparation of an integrated report:
- strategic focus and future orientation;
- stakeholder relationships;
- connectivity of information;
- materiality;
- conciseness;
- reliability and completeness;
- consistency and comparability.
The table below aims to help you see which headings in this Report relate to which of the IIRC Framework’s content elements.
Report headings
IIRC Framework content elements
Organisational overview and external environment: what does the organisation do and what are the circumstances under which it operates?
Business model: what activities are performed by the organisation and how do they relate to the capitals used by the organisation to create value?
Governance: how does the organisation’s governance structure support its ability to create value in the short, medium and long term?
Strategy and resource allocation: where does the organisation want to go and how does it intend to get there?
Performance: to what extent has the organisation achieved its strategic objectives for the period and what are the outcomes in terms of effects on the capitals?
Risks and opportunities: what are the specific risks and opportunities that affect the organisation’s ability to create value over the short, medium and long term?
Outlook: what challenges and uncertainties is the organisation likely to encounter in pursuing its strategy, and what are the potential implications for its business model and future performance?