The ESG scorecard
The growing importance of extra-financial aspects in defining corporate strategies, the consideration that investors give to ESG issues in their investment choices, as well as the interest of all stakeholders in the company’s modus operandi, have always encouraged Snam to measure the impact of its actions on the context in which it operates.
Snam monitors more than 140 ESG KPIs, many of which are supported by multi-year targets. Driven by a growing need to redefine its priorities for the future, shape its corporate culture and improve its extra-financial communication, it has further strengthened the process of defining its targets.
Through the ESG Scorecard, Snam further strengthens its business model with a view to achieving the sustainable development objectives of the 2030 Agenda, building a scorecard of objectives for the three-year period 2021-2023 on thirteen ESG thematic areas of impact for both the company and its stakeholders. The objectives are three-yearly and the scorecard will be monitored and reviewed annually: through this tool, the Group aims to provide maximum transparency on the main environmental, social and governance aspects with a process that involves all the competent functions of the Company and its subsidiaries with a view to continuous improvement and constant dialogue with stakeholders and the market.
The holistic approach adopted by Snam with regard to the environment leads the company to commit itself not only to the combat against climate change, but also to the protection of habitats and biodiversity, adopting the best practices for the protection and enhancement of the areas in which it operates with its infrastructure. The commitment to the environment is reflected in the goal of reducing natural gas leakage, as well as in all targets concerning energy efficiency, new business development, green innovation and biodiversity protection.
Employees, local communities and suppliers are increasingly central stakeholders in Snam’s strategy, as only through their participation will it be possible to achieve the challenging strategic objectives that the Group has set itself for the coming years. Also in light of the Covid-19 health emergency, the Company has strengthened both the activities it has been implementing for years to spread a culture that defends the individual as a whole, protecting mental and physical health and promoting diversity and development in an inclusive environment, and those to improve the quality of life in local communities and to manage its supply chain in a sustainable manner. These commitments take the form of a structured corporate welfare system that meets the needs of Snam people and their families, corporate volunteering and community engagement initiatives carried out in collaboration with Fondazione Snam, and support for the Italian economy and small and medium-sized enterprises (SMEs) through the specific engagement of local suppliers.
Legality, integrity, service reliability and efficiency in network management are the key words underlying the actions and projects implemented by Snam, which is committed to defining targets that make business transparent, responsible and valuable. These objectives take the form of specific actions aimed at ensuring high levels of infrastructure reliability and service quality, bringing ESG issues into the decision-making processes and induction sessions of the Board of Directors, and carrying out careful reputational audits to assess the risks associated with the supply chain, countering any active and passive corruption practices.