2. Governance and sustainable business development
Corporate governance serves to facilitate the creation of value for shareholders, while also accommodating the interests of the Company’s Stakeholders. Initiatives, such as guidelines for strategy and business coordination and for the management control system, contribute to creating the best conditions for Snam to interact with its environment and thus ensure oversight of issues of mutual interest and compliance with rules. Snam promotes constructive dialogue with its Stakeholders, with the ultimate aim of orienting its actions towards the creation of shared value.
Its corporate management processes are based on the principles set out by the UN Universal Declaration of Human Rights, the fundamental conventions of the ILO and the OECD Guidelines for Multinational Enterprises. Snam also adheres to the UN Global Compact, the most important international sustainability initiative in the world, which aims to promote and disseminate 10 ethical principles concerning human rights, the environment, workers’ rights and the combating of corruption. Finally, the Company’s commitment to sustainable development is also reflected by the environmental protection provided under its policies. Snam thus enables environmental and economic development to coexist without neglecting land conservation.
Snam shares are listed on the FTSE MIB index of Borsa Italiana and are present on the main international indices (STOXX Europe 600, STOXX Europe Utilities), as well as on the main sustainability indices (Dow Jones Sustainability, FTSE4Good, CDP, Stoxx Global ESG Leaders, MSCI, United Nations Global Compact 100, Vigeo and Ethibel).
To transparently present the value created and the sustainability of its business, since 2015 Snam has been preparing integrated reporting of financial and non-financial data and information in its Report on Operations within the Annual Financial Report, pursuant to the framework proposed by the International Integrated Reporting Council (IIRC).
With regard to reporting, Snam continues to publish its Sustainability Report, drawn up pursuant to the GRI (Global Reporting Initiative) guidelines, since this is considered an important tool for managing the sustainability process and communicating with Stakeholders. The Sustainability Report is approved by Snam’s Board of Directors5.