FINANCIAL DISCLOSURE ON CLIMATE CHANGE
It describes the governance, the strategy, the scenarios, the risk and opportunities, the metrics and targets laid out by the company to manage the climate change issue according to the recommendations of the Task Force on Climate Related Financial Disclosure (TCFD).
THE REMUNERATION REPORT
It describes the company’s remuneration policy of Directors and Executives specifying the goals, the involved bodies, the procedures for its adoption and implementation in addition to the remuneration paid.
THE CORPORATE GOVERNANCE REPORT
It provides detailed information about the company, its governance system and structure, the ownership structure, the internal control and risk management system and related topics.
THE SUSTAINABILITY REPORT
It describes performances and future goals regarding the environmental, social and governance topics (ESG), strengthening the relationship and collaboration with a wide audience of stakeholders.
The reporting process
Snam has long started an integration track of its reporting processes because “integrated reporting means integrated thinking”. This approach has allowed a comprehensive and integrated overview on all the stakeholders and shareholders demands, offering a wide, transparent and responsible corporate disclosure leading to a complete view on the activities, performances and challenges which Snam faces today.
The Annual report includes the Directors’ Report, which constitutes the Integrated Report of Snam, presented following the indications of the Framework proposed by the IIRC (International Integrated Reporting Council), the Consolidated Financial Statement and the Statutory Financial Statement.
The objective of the Directors’ Report is to represent, in addition to annual operating results, Snam’s model for the creation of value and the sustainability of the business over the medium and long term, thereby indicating and demonstrating the interconnections between strategy, governance, business and financial performance, and the social, environmental and economic environment in which the enterprise operates. The aspects covered by the Report represent the principal factors that have a potential impact on business and financial performance and material sustainability issues. The following schedules facilitate reconciliation of the various keys to reading and interpretation recommended by the IIRC Framework and the content of the Report.
The Directors’ Report also contains information referred to in the Consolidated Non-Financial Statement (NFS) which constitutes a specific section thereof, in compliance with the provisions of Legislative Decree no. 254/2016. NFS contents are integrated, where deemed necessary and appropriate, by the information reported in the Report on operations, which can be identified and consulted by following the specific references: Infographics and grey background / character, associated with the paragraph title (if entirely referring to aspects described in the NFS) or to the specific text content.