sustainability strategy
THE 2023-2027 SUSTAINABILITY PLAN
We consider financial, social and environmental sustainability as a strategic driver that guides every decision we make. For this reason, the 2023-2027 Sustainability Plan, approved by the Board of Directors on February 16, 2023, is an integral part of the Group’s strategic vision defined in the 2023-2027 Industrial Plan.
In a time of transformation like the one we are experiencing, sustainability represents a crucial element for the evolution of our production processes and the development of our product portfolio, in line with customer needs. It also helps ensure strong long-term resilience for the Group.
THREE STRATEGIC GUIDELINES:
INNOVATION, INCLUSION, INTEGRITY The Sustainability Plan responds to global socio-economic trends with three development directions, Innovation, Inclusion and Integrity, which reflect our strategic vision in terms of sustainability, ensuring compliance with the commitments we make. The three directions also contribute to achieving the 17 United Nations Sustainable Development Goals (SDGs), and in particular the 9 SDGs considered relevant to our business and consistent with our strategic guidelines.
INNOVATION, INCLUSION, INTEGRITY The Sustainability Plan responds to global socio-economic trends with three development directions, Innovation, Inclusion and Integrity, which reflect our strategic vision in terms of sustainability, ensuring compliance with the commitments we make. The three directions also contribute to achieving the 17 United Nations Sustainable Development Goals (SDGs), and in particular the 9 SDGs considered relevant to our business and consistent with our strategic guidelines.
STRATEGIC SUSTAINABILITY GUIDELINES
| GLOBAL SOCIO-ECONOMICS TRENDS | |
| CLIMATE ISSUES AND ECOSYSTEM DEPLETION | AWARENESS OF THE STRATEGIC NATURE OF THE SUPPLY CHAIN |
| STRONG DRIVE TOWARDS NEW TECHNOLOGIES AND DIGITAL TRANSFORMATION | ECONOMIC, SOCIAL AND CULTURAL CHANGES |
| CENTRAL ROLE OF HUMAN RESOURCES AND GROWING INEQUALITIES | GEOPOLITICAL TENSIONS |
THE 3 DEVELOPMENT DIRECTIONS
INNOVATION
INNOVATIVE AND TECHNOLOGICAL DEVELOPMENT FOR THE ENERGY AND DIGITAL TRANSITION
Strengthen activities focused on innovation and digitalization to offer increasingly advanced, sustainable and secure solutions, in line with market needs and decarbonization and circular economy strategies.
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INCLUSION
PROTECTION, INCLUSION AND DEVELOPMENT OF PEOPLE AND COMMUNITIES
Safeguard the wealth of expertise acquired by the Group, promoting its growth and continuous enhancement in an inclusive and international environment, while ensuring the protection of human capital, to foster the development of local communities with a view to shared value.
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INTEGRITY
INDUSTRIAL EXCELLENCE
Increase competitiveness through continuous improvement of efficiency and safety, maintaining standards of excellence and promoting a culture of professionalism and ethics to strengthen global leadership in shipbuilding.
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| 15 MATERIAL TOPICS, 7 OF WHICH ARE STRATEGIC | ||
| CLIMATE CHANGE | DEVELOPMENT AND SAFEGUARDING OF HUMAN RESOURCES | HEALTH AND SAFETY IN THE WORKPLACE |
| ENVIRONMENTAL IMPACT OF PRODUCTS AND SERVICES | HUMAN RIGHTS | PRODUCT QUALITY AND SAFETY |
| INNOVATION, RESEARCH AND DEVELOPMENT | DIVERSITY AND EQUAL OPPORTUNITY | SUSTAINABLE SUPPLY CHAIN |
| ENVIRONMENTAL MANAGEMENT | COMPANY WELFARE | GOVERNANCE AND BUSINESS INTEGRITY |
| CUSTOMER SATISFACTION | LOCAL COMMUNITIES AND RELATIONS WITH THE LOCAL AREA | - |
| CYBER SECURITY | - | - |
THE ELEMENTS OF THE SUSTAINABILITY PLAN
| 3 STRATEGIC DIRECTIONS | Defined in synergy with the Industrial Plan, they encompass the 15 material topics identified by the Group through the 2023 materiality analysis and confirmed by the double materiality assessment carried out in 2024. They also represent an in-depth focus on the ESG pillar of the Industrial Plan. |
| 24 COMMITMENTS | Undertaken by the Group through the Sustainability Commitments Charter. |
| → LEARN MORE | |
| Identified through stakeholder engagement activities and market benchmarking, allowing consideration of both the Group’s perspective and that of clients, suppliers, partners, the financial community, and other stakeholders involved via an online survey. | |
| 15 MATERIAL TOPICS, INCLUDING 7 STRATEGIC ONES | → LEARN MORE |
| 41 ESG TARGETS | To be achieved in the short, medium, and long term, ensuring transparency and verifiability of the path toward sustainable development. The Sustainability Plan targets are reviewed annually based on achieved results and emerging needs. |
The status of objectives and targets in 2024
The 4 objectives and targets that had a deadline in 2024 have all been achieved. In addition, the goal concerning the study on circular economy for Fincantieri S.p.A. cruise ships, originally set for 2025, was reached ahead of schedule, as well as the target related to the development and operation of prototypes for monitoring, inspection, and accessibility analysis in high-risk areas.
Climate Change
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Support for research to improve the analysis and management of risks associated with climate change | Promotion of research projects to develop new solutions for energy efficiency or reduction of emissions in collaboration with research institutes / universities on issues associated with climate risks | Complete four projects by 2030, of which: • 1 project • 1 project • 1 project • 1 project |
2024 2026 2028 2030 |
Group | Achieved |
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| The SEABAT project was launched in 2024, aimed at improving the energy efficiency of the shipping sector and reducing pollutant emissions. The project focuses on the optimization of electrical storage systems (lithium batteries), with the aim of reducing their cost and improving their performance. In addition, through its subsidiaries Fincantieri SI and Vard Electro, the Group continued development activities within specific work packages of the SEABAT project, in particular on the following topics: modular and scalable battery system design, performance test of full battery system, and roadmap for type approval. | ||||||
| Reduction of carbon dioxide (CO2) and other pollutant emissions with the aim of contributing to the fight against climate change | Reduction of greenhouse gas (GHG) emissions | -4% of Scope 1 and 2 GHG emissions compared to 2021 | 2025 | Group | Work in progress |
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| -8% of Scope 1 and 2 GHG emissions compared to 2021 | 2027 | In 2024, we implemented several initiatives aimed at improving our environmental performance and reducing Scope 1 and 2* emissions compared to 2021. 2021: 148.924 tCO2e 2022: 151.114 tCO2e 2023: 144.959 tCO2e 2024: 145,466 tCO2e * market-based, emissions from electricity purchased by considering emission factors expressed in CO2 relative to the residual mix |
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| -20% of Scope 1 and 2 GHG emissions compared to 2021 | 2030 | |||||
| Ensure the use of electricity from renewable sources | 100% electricity from renewable sources | 2030 | Group | Work in progress |
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| We are committed, through the installation of photovoltaic systems and the purchase of Guarantees of Origin (GO), to gradually increase the share of electricity from renewable sources. 2021: 82% 2022: 82% 2023: 85% 2024: 90% |
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| Reduction of emissions of volatile organic compounds (VOCs) through plant works and gradual substitution of the products used with solvent-free or lower-solvent alternatives | -3% VOC emissions over hours of production compared to 2021 | 2025 | Group | Work in progress |
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| -5% VOC emissions over hours of production compared to 2021 | 2027 | Thanks to initiatives such as replacing traditional paint products with low-solvent or water-based alternatives, VOC emissions per production hour have decreased compared to 2021, the baseline year for the Plan’s target. These measures have involved suppliers, manufacturing sites, and shipping companies across the board. A further significant reduction was achieved through increased operations in facilities equipped with high-efficiency emission abatement systems. 2022: 22,4*10 ^-6 tCOV/ hours of production 2023: 22,9*10^-6 tCOV/ hours of production 2024: 24.6*10^-6 tCOV/ hours of production |
Environmental impact of products and services
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Development of ecologically sustainable products and services with the aim of contributing to a circular and low carbon economy | Identify initiatives and projects for the development of products and design tools for ships with reduced environmental impact | 9 low environmental impact project initiatives (4 of which for the cruise business and 5 for the naval segment) |
2025 | Fincantieri S.p.A. | Work in progress |
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| 5 low environmental impact project initiatives (4 of which for the cruise business and 1 for the naval segment) | 2027 | |||||
| Study on circular economy for Fincantieri S.p.A. cruise ships in cooperation with a university/research centre | Analysing the maturity level of players in the shipping industry | 2025 | Fincantieri S.p.A. | Achieved |
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| Identifying an analysis methodology | The CIRCE (CIRCular Economy in Shipbuilding) project, aimed at studying the application of circular economy methodologies in the cruise sector, with a focus on Life Cycle Assessment (LCA), was carried out during 2024, ahead of the target set in the Plan for 2025. The five-phase project analysed three main segments of the ships: hull, cabins and HVAC system | |||||
| Evaluating and identifying tools to implement the logic of circular economy | ||||||
| Developing high energy-efficient cruise ships powered by eco-friendly/ renewable sources, with reduced environmental impact in terms of atmospheric emissions, discharges at sea and noise (green ships) | International Maritime Organization (IMO) target for 2025 (30% reduction in cruise ship EEDI* index compared to IMO baseline ref. EEDI-2008**), corresponding to a 30% reduction in CO2 emissions for the same tonnage and miles travelled at the EEDI index baseline speed * Energy Efficiency Design Index defined by the International Convention for the Prevention of Pollution from Ships (MARPOL) ** In its initial strategy, the IMO set 2008 as the baseline year against which to measure ambition levels. The baseline is a curve representing a mean value of EEDI as the size of the ship varies | 2025 | Fincantieri S.p.A. | Work in progress |
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| IMO target for 2030 (40% reduction in cruise ship EEDI index compared to IMO baseline ref. EEDI-2008), corresponding to a 40% reduction in CO2 emissions for the same tonnage and miles travelled at the EEDI index baseline speed and zero emissions in port | 2030 | |||||
| Net Zero cruise vessels target | 2050 |
Innovation, research and development
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Investments in research and innovation with the aim of developing sustainable, efficient, safe and competitive products and processes with particular reference to the technologies needed to reduce environmental impact and increase their digitalization | Research & Innovation Policy | Drafting of a Policy that identifies the principles and strategy chosen by the Group to approach product and process research and innovation | 2023 | Group | Achieved |
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| Development of smart ships and smart offshore infrastructure and autonomous ships. Development of innovative solutions for shipyards (smart yards) | Reference framework for secure interconnection (from a cyber security perspective) of all on-board systems for the exchange/recording of real time data in open formats | 2030 | Group | Work in progress |
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| On-board systems supporting a medium level of autonomy (e.g. IMO Degree 2/3) | ||||||
| Solutions for floating offshore platforms supporting wind power generation systems | ||||||
| Industry 4.0 tools to be adopted in the shipyard to increase productivity |
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| Tools for accessing digital assembly instructions and real-time monitoring of production progress on company technical systems |
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| Remotely controlled or unmanned platforms capable of operating in scenarios that are hazardous for operators (e.g. fire-fighting, contaminated area detection, etc.), capable of significantly increasing the operational effectiveness of the mission |
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| Digital transformation via the introduction of technologies and equipment in order to optimise business processes and make them greener in line with organizational and management best practices | Completion of migration (50% remaining servers) from on-premise infrastructure to Public Cloud infrastructure characterized by improved energy efficiency (+16% DCIE*), and optimization of consumption compared to 2021 through: - rationalization (~ -15% servers) - re-sizing (~ -14% computing power) - on-demand activation of non-productive servers (~ -60% up-time) * Data Center Infrastructure Efficiency (DCIE): ratio between the total power absorbed by IT equipment alone and the total power used by the data center. | 2023 | Group | Achieved |
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| Signing of a Group framework agreement for the supply of energy-efficient printers | ||||||
| Rationalization of the printer fleet (-5% with a target of 16 users/printer), refresh of at least 50% of obsolete compared to 2021 printers and their mapping by production area with relative print volumes | ||||||
| Completion of obsolete printer refresh with TEC** fleet reduction of ~70% when fully operational ** Typical Electricity Consumption (TEC): electricity consumption of a device using an internationally recognized standard methodology. The TEC value is expressed in Kwh/week | 2024 | Achieved |
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| The plan to update obsolete printers was completed. As a result of the rationalisation analysis, the printer fleet in 2024 will consist of 430 units, a reduction of more than 8% compared to the initial target of 5%, despite the increased number of users. | ||||||
| Gradual adoption of Public Cloud infrastructure and Printing services by all Italian companies whose IT management falls within the Parent Company's perimeter |
2024 | Achieved |
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| Preparations were completed for access to the cloud services of the Italian companies included within the scope of the objective, with on-demand access. | ||||||
| Assessment of Data Center and Printing services for VARD (Norway, Romania) and Fincantieri Marine Group (FMG) and definition of a development roadmap As-Is Perimeter Parent Company: Data Center Services - Fincantieri S.p.A., Isotta Fraschini Motori, FC Infrastructure, FC SI, FC Oil&Gas, some companies of the Marine Interiors group, VARD (FC centralized services only); Printing Services - Fincantieri S.p.A., FC Infrastructure, FC SI, OSN, FC Oil&Gas, some companies of the Fincantieri NexTech group, some companies of the Marine Interiors group. As part of the SAP roll-out project in Fincantieri Marinette Marine (FMM), a cloud instance was activated for the IaaS delivery of ERP services in the US | 2023 | Achieved |
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| Digitalization of internal processes and collaboration with third parties | Digitalization and centralization of paper-based processes related to suppliers’ progress documentation (SAL and FAT area Engineering and COP*) and for the management of accesses of satellite businesses for Fincantieri S.p.A., enabling a reduction in paper printouts of about 1.1 million/year at the same workload *COP: Production Coordination | 2024 | Group | Achieved |
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| Implementation activities were completed for the digitalization and centralisation of paper processes related to the documentation of suppliers' work progress (stage of completion) and management of ancillary company access for Fincantieri S.p.A. This initiative enables a reduction in the number of paper printouts of about 1.1 million per year for the same workload under normal conditions. | ||||||
| Introduction of a solution for the management of material transport from, to and between the Group sites**, capable of handling multiple logistic providers and slot booking logics, and experimentation with algorithms based on High Performance Computing or Quantum Computing to optimize intra-group transport and inventory generating a direct benefit on emissions ** Perimeter: Fincantieri S.p.A., Marine Interiors Cabins, Fincantieri Infrastructure, Centro Servizi Navali | 2024 | Achieved |
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| A new solution was introduced for managing the transport of materials in and out of the Group's sites, with the coordination of several logistic providers and the adoption of the slot booking approach. In addition, experimentation was carried out with algorithms based on High Performance Computing or Quantum Computing for the optimization of intra-group transport and inventory, with a view to generating a direct benefit on emissions. | ||||||
| Digitalization of the process of requesting, issuing and validating permits for the execution of flame and work on board ship (activities involving the production of flames/sparks) by satellite businesses, enabling a reduction in paper printouts of about 1 million/year at the same workload | 2025 | Work in progress |
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| Roll-out ERP SAP, an enabling platform for process digitalization, in the following subsidiaries: - VARD (Norway, Romania) | 2023 | Achieved |
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| - Fincantieri Marinette Marine (FMM), MI S.p.A. | 2024 | Fincantieri Marinette Marine (FMM) adopted the SAP ERP for the core modules, in line with the group ERP model. In advance of the target deadline of 2025, the same implementation was also extended to the remaining companies in the Interiors Cluster | ||||
| - Fincantieri Bay Ship (FBS), remaining companies of the Interiors Hub | 2025 | |||||
| Introduction of innovative analytics and process mining solutions that provide insights for process optimization | Introduction of a process mining solution with the aim of analysing the lead times of business processes and highlighting potential improvement actions, and its testing on the process of invoicing of accounts payable in order to assess its benefits before extending it to other business processes | 2023 | Group | Achieved |
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| Creation of a corporate database (Data Platform) powered by data from corporate master systems (e.g. SAP, Inspection Call), activation of AI/machine learning services in order to provide useful analytics to deliver insights into areas of lower efficiency and to identify opportunities for optimizing and/or streamlining processes, and implementation of analytics and predictive analysis tools: - Wave 1: 10 priority use cases (8 CFO, 2 Supply Chain) | Achieved |
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| - Wave 2: 25 use cases | 2024 | Achieved |
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| Wave 2 of the project to create an enterprise data platform, integrated with master systems (e.g. SAP, Inspection Call) and enhanced by AI and machine learning services, was completed to provide insights into areas of lower efficiency. In particular, 25 use cases were developed in the following areas: optimization of technical and design processes; improvement of productivity and operational efficiency through IoT data; strengthening of control and reliability of production processes; optimization of procurement management and supply chains. In addition to the 25 planned use cases, further projects were developed in response to specific business needs | ||||||
| Extension of analytics tools to other Group companies adopting the same processes: - VARD (Norway, Romania) | 2024 | Achieved |
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| The integration of the subsidiary VARD (Norway, Romania) into the Fincantieri reporting system was completed, extending the analytics tools to Group companies adopting the same processes. This initiative enables more efficient data management and improved analytical capabilities at a global level. | ||||||
| - Fincantieri Marinette Marine (FMM), MI S.p.A. | 2025 | Work in progress |
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| - Fincantieri Bay Ship (FBS), remaining companies of the Interiors Hub | 2025 |
Environmental management
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Implementation of projects to improve energy efficiency and conserve natural resources, protect biodiversity and reduce environmental impact to prevent soil, air and water pollution | Waste reduction | Maintaining the portion of waste sent for recycling between 80-90% each year | 2023-2027 | Group | Achieved |
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| Thanks to the initiatives of sorting and separating processing residues for recovery and reuse of materials still suitable for use in production activities, we have been able to consolidate the share of waste sent for recycling out of the total waste produced above 80 percent. 2021: 87% 2022: 84% 2023: 85% 2024: 87% | ||||||
| - 5% of the quantity of waste produced over hours of production compared to 2021 |
2025 | Work in progress |
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| We are committed to reducing our waste especially hazardous waste. With a focus on the circularity of processing residues, we are pursuing various scouting activities that will enable us to reduce waste. Compared to 2021, waste generated on production hours has decreased by 7.1 % 2021: 0,00472 t/hours of production 2022: 0,00436 t/ hours of production 2023: 0,00449 t/ hours of production 2024: 0.00439 t/ hours of production | ||||||
| - 10% of the quantity of waste produced over hours of production compared to 2021 | 2027 | |||||
| Reduction of water withdrawals |
-3% of water withdrawal over hours of production compared to 2021 | 2025 | Group | Work in progress |
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| -10% of water withdrawal over hours of production compared to 2021 | 2027 | Siamo consapevoli dell’importanza della risorsa idrica per questo negli anni sono statti implementati vari strumenti di misurazione e di monitoraggio che hanno permesso di intervenire e di ridurre i prelievi di acqua rispetto al 2021. 2021: 0,000097 ML/ore di produzione 2022: 0,000091 ML/ore di produzione 2023: 0,000093 ML/ore di produzione 2024: 0,000086 ML/ore di produzione |
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| -12% of water withdrawal over hours of production compared to 2021 | 2030 | |||||
| Protection of biodiversity | Launch of project for the protection of biodiversity | 2024 | Group | Achieved |
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| Analysis of the impacts of production processes on biodiversity | 2026 | We have started a project on biodiversity with the involvement of the Sustainability, Operation and HSE functions. These contributed to an initial mapping of the Group's impacts and dependencies on biodiversity, the identification of commitments, and the preparation of some calculation models for pollutant emissions into air, water, and soil. | ||||
| Definitions of actions to mitigate impacts on biodiversity | 2027 |
Customer satisfaction
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Listen to needs and expectations in order to maximize customer satisfaction | Extending the customer satisfaction measurement model - Customer Satisfaction Index (CSI) - to ESG issues | Expansion of the CSI questionnaire to ESG issues to understand customer satisfaction in terms of sustainable product and process | 2023 | Group | Achieved |
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| Application of the CSI questionnaire, including the ESG section | 2024 | Achieved |
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| The updated questionnaire has already been delivered on the first ships delivered at the end of 2023, in advance of the timeframe set out in the Sustainability Plan. |
Cyber Security
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Guarantee the protection of computer systems and data by minimizing the risk of network breaches, corruption of sensitive data or processes and develop the cyber security strategy for products and services | Centralize the management and monitoring of cyber security, through a uniform service delivery model | cyber security, through a uniform service delivery model Introduce a single security monitoring centre for the Group on national and European territory: - setting up of the architecture | 2024 | Group | Achieved |
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| - integration of incident response processes for participating subsidiaries |
2026 | In advance of the 2024 Plan target, in 2023 the Security Operations Centre (SOC) signed a unified agreement model for the delivery of cybersecurity services and monitoring. The agreement includes all Italian subsidiaries, VARD, as well as the primary Group’s companies operating in the Defence sector. Additionally, standardized cybersecurity technological solutions were identified and implemented across the subsidiaries. | ||||
| - unified incident monitoring of the subsidiaries that will use the service | 2027 | |||||
| Raising awareness among employees and top management about cyber risks and training them to recognize them | Delivering phishing awareness campaigns to employees (employees, middle managers and senior managers): - 2 campaigns | 2023 | Fincantieri S.p.A. e Fincantieri NexTech S.p.A. | Achieved |
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| - 2 campaigns | 2024 | In 2024 four phishing awareness campaigns were conducted for employees of Fincantieri S.p.A., which were subsequently extended to all users of the companies within the Italian scope, going far beyond the scope originally planned. In particular, one campaign was specifically targeted at top management, simulating a fraud attempt, while the others focused on theft of credentials, involving around 8,000 users each. | ||||
| - 2 campaigns | 2025 | |||||
| Extension of the phishing awareness campaign to employees of the subsidiary VARD group AS | 2024 | VARD group AS | Achieved |
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| For VARD Group, the first phishing awareness campaign was launched, accompanied by monthly meetings dedicated to sharing and monitoring plans for cyber security awareness activities. | ||||||
| Implementation of induction sessions for the Top Management (including the Board of Directors): - 1 induction session - 1 induction session | 2023 | Fincantieri S.p.A. e Fincantieri NexTech S.p.A. | Achieved |
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| - 1 sessione di induction | 2024 | In 2024 an induction session dedicated to top management was organized, which also provided a strategic opportunity to discuss the strengthening of Fincantieri's cyber defences. |
Human resources development and protection
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Promotion of growth, training and enhancement of human capital | Investing in the professional development of resources and enhancing their value so that they can contribute to the achievement of the Group's strategic objectives | As part of the meritocratic policy, reward at least 60% of the resources assessed as high performers* with the new performance appraisal model adopted globally The bonus refers to salary increases, one-off measures, and level or qualification upgrades *High performers refer to employees rated «Above Expectations» or «Excellent» |
2023 | Group | Archieved |
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| In 2023, the Group recognized 91 percent of the resources assessed as exceeding expectations of economic interventions expressed either by salary increases or level/qualification upgrades or one-time bonuses. The scope includes all Group companies based in Italy, the U.S., and Vietnam that activated the annual performance evaluation process in the years 2021 and 2022. VARD Group companies based in Norway and Romania were not included in the scope because at present their evaluation system does not report an overall result and currently, in addition to annual salary negotiation for all employees, there are no merit-based policies |
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| Developing the leadership of the future by strengthening the pipeline of young talent on accelerated growth paths, reducing the gender gap, avoiding anti-selection phenomena | +30% of new resources included in the «Talent» acceleration program for young high-potential resources embarking on a career development path, of which 25% are women compared to 2020 - 2022 | 2023 | Italy | Achieved |
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| The new edition of the "Talent" project, an initiative aimed at enhancing and developing young people with high potential within the Company, was launched. The 2023 edition involved 61 participants (+53% vs. 2020-2022 participants), 34% of whom were women. Overall, from the inaugural edition to date, the "Talent" project has reached a total of 175 people. | ||||||
| + 40% new resources included in the «Talent» acceleration program, 30% of whom are women compared to 2020 - 2022 | 2025 | Group | Work in progress |
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| Constant collaboration and cooperation in an inclusive and international context in order to encourage the exchange of ideas, opinions and experiences and the development of multidisciplinary skills | Develop a working environment where employees feel increasingly involved, motivated and willing to build their professional future, through the use of annual surveys to measure employee engagement | Improve by 2pp the Employee Engagement rate* recorded in the 2022 Survey *Employee engagement rate to measure the degree of belonging, satisfaction and motivation. It was calculated on the basis of favourable responses to 11 questions in the survey |
2023 | Group | Achieved |
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| In 2023, the Group's second Employee Engagement Survey was launched, allowing more than 16,000 employees to express their opinions, achieving an overall response rate of 83 percent. There was a marked improvement in all dimensions, with the overall engagement rate increasing by 3 percentage points (75%) from 72% in 2022. |
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| Improve by 5pp the Employee Engagement rate* recorded in the 2022 Survey *Employee engagement rate to measure the degree of belonging, satisfaction and motivation. It was calculated on the basis of favourable responses to 11 questions in the survey |
2026 | Work in progress |
Human rights
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Commitment to creating the socio-economic conditions to ensure respect for human rights throughout the value chain | In accordance with the guidelines being defined* and international best practices, proactively identify and assess potential risks and impacts related to the respect of human rights, incorporated in the policy and Code of Ethics, referred to and signed by suppliers in the general terms and conditions of the order * In order to anticipate the demands contained in the Proposal for a Directive of the European Parliament and of the Council on the Duty of Care of Businesses with regard to sustainability |
• Due diligence on Italian and European production sites and their satellite businesses | 2023 | Group | Achieved |
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| • Implementation of a plan of targeted interventions following due diligence |
2024 | During 2024, the human rights due diligence project continued with the definition of the monitoring plan to create a data collection structure and a system for analysing and reporting information with reference to human rights identified as salient. The plan includes the identification of proactive indicators, designed to anticipate potential critical issues and enable the definition of targeted and effective interventions. These initiatives are expected to be implemented during 2025 through the involvement of internal and supply chain stakeholders. | ||||
| • Monitoring compliance through the formalization of the monitoring and maintenance plan | 2025 | |||||
| Annual (second party) sustainability audits by Fincantieri at suppliers’ premises to assessand monitor suppliers' compliance with human rights, health and safety and the environment | Audits of the Group's suppliers of priority/strategic interest on respect for human rights, health and safety and the environment (approx. 200 suppliers including the remaining 7 not carried out due to COVID pandemic issues) with at least 40 audits per year. Starting from 2023, depending on the score obtained from the audit, recovery plans, progressive or immediate phase-outs will be defined on an ongoing basis, based on the severity, with evidence being reported in Supplier Oversight |
2023-2027 | Group (excluding American subsidiaries) | Achieved |
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| In 2024 Fincantieri conducted 85 in person sustainability inspections, far exceeding the target for the year. In order to ensure maximum transparency and avoid conflicts of interest, the audits were conducted with the support of independent professionals. |
Diversity and equal opportunities
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Promotion of programs offering equal opportunities to all employees in order to promote diversity and inclusion within the Group | Ensuring maximum integration and full involvement of the company population by developing training and awareness-raising initiatives on diversity and inclusion | 2 projects, one to support parenting or caregivers and one to raise awareness of disability | 2023 | Italy | Achieved |
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| 1 project to promote multiculturalism and eliminate all forms of discrimination |
2024 | Fincantieri S.p.A. and satellite businesses | Achieved |
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| In 2024 a physical cultural mediation office, also available to the employees of ancillary companies, was opened in Sestri (in addition to the one already opened in Muggiano) and, at the end of the year, a virtual office for the Monfalcone and Marghera construction sites (Step2Connect). The innovative web app was created to facilitate the social integration of foreign workers within host communities. The initiative was developed within the framework of "Includere per Crescere" (Include to Grow), in partnership with the ELIS Consortium. The application provides for a pilot phase, which will end in April 2025, and is a digital intercultural mediation tool providing practical and specific content to guide foreign workers in the Italian system. | ||||||
| 1 project to raise awareness on disability at Group level | 2024 | Group | Achieved |
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| On the occasion of the International Day of Persons with Disabilities on 3 December 2024, three short video documentaries were produced and disseminated throughout the Group in order to raise awareness of disability with a focus on listening, culture and inclusion. | ||||||
| 2 projects, of which one to enhance multiculturalism and eliminate all forms of discrimination and one to promote cooperation between generations | 2025 | Work in progress |
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| 1 project supporting parenting or caregivers | 2026 | |||||
| Strengthening gender equality and women's empowerment by promoting projects to ensure a level playing field for women in the world of work | Obtaining UNI PdR125 Gender Equality Certification for Fincantieri S.p.A. | 2023 | Fincantieri S.p.A. | Achieved |
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| Extend gender pay gap analysis to Group level |
2023 | Group | ||||
| Developing a training program to support the professional careers of the women in the Group |
2024 | Achieved |
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| The first event in the "Unity In Diversity" program was held between September and October 2024: Empowering Women Across Borders', a training project dedicated to the Group's Middle Managers (in Italy, Norway, Romania, the United States and Vietnam) with the aim of providing support for women's professional careers and personal growth and generating a shared culture among different nationalities (about 80 participants). | ||||||
| 100% reduction in the weighted gender pay gap |
2024 | Acieved |
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| With regard to the target of a 100% reduction in the weighted gender pay gap, the remuneration and meritocratic policies adopted by the Group have enabled a reduction in the weighted gender pay gap. In particular, in the 2024 financial year, it was verified that, in Fincantieri and its Italian and foreign subsidiaries, there is pay parity between men and women at the same level of management and skills. The criterion used for the analysis is dictated by the UNI/PdR 125:2022 procedure - Gender income equality, which states that the indicator should be considered achieved when the gap between average male and female earnings for the same job/role is less than 10%. | ||||||
| Develop 2 counselling and psychological assistance projects for women victims of gender-based violence | 2025 | Work in progress |
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| Ensuring an appropriate level of gender representation by promoting the presence of women also in positions of responsibility | +2pp white collar women (white collar and middle managers) compared to 2021 +3pp middle manager women compared to 2021 +4pp white collar women (white collar and middle managers) compared to 2021 +5pp middle manager women compared to 2021 |
2025 | Group | Work in progress |
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| 2027 | Due to the implemented initiatives, the presence of women has been steadily increasing year by year. Percentage of white collar women (white collar and middle managers): 2021: 22,0% 2022: 22,3% 2023: 22,6% 2024: 23,2% Percentage of middle manager women: 2021: 15,0% 2022: 16,1% 2023: 16,1% 2024: 16,8% |
Corporate welfare
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Increase the well-being of people through innovative solutions rathert han traditional ones | Development of the company crèche service | Activation of 2 additional crèche services to support parenting and home-work balance | 2025 | Fincantieri S.p.A. | Work in progress |
|
| The first kindergarten, based at the Merchant Ship Division, was activated in September 2022. A second kindergarten, based in Monfalcone at the former Albergo Operai, was instead activated in October 2023. | ||||||
Local communities and relations with the territory
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGs |
| Dialogue with and support for local communities through social, environmental, cultural and educational initiatives | Communication campaign to disseminate the Group's new mission, vision and purpose to all relevant stakeholders in order to play an active role in building a supportive and inclusive community | Definition of the integrated strategic communication and sustainability plan in order to disseminate the corporate purpose, the Group's new mission in the creation of long-term sustainable value for all its reference communities while respecting people and the environment | 2023 | Group | Achieved |
|
| In 2023 the Group presented its purpose, new mission and global communication strategy at the Fincantieri Convention in May 2023. A new and evolved equity story lies at the heart of the project and is summarized by the new claim Future on Board. | ||||||
| Development of educational and social inclusion projects especially for disadvantaged groups and those at risk of exclusion | Activation of at least two initiatives, one of which at Group level | 2023 | Group | Achieved |
||
| Fincantieri supports the WOW - Wheels on Waves - Around The World project, which allows people with mobility disabilities to sail around the world on the catamaran "'Lo Spirito di Stella'" led by disabled skipper Andrea Stella. As part of the project, concrete activities are planned, one of which has already taken place in La Spezia where some children and young people with disabilities, children of our colleagues, experienced an educational day approaching sailing, were able to visit the catamaran and understand how it is possible to overcome challenges and achieve one's goals, regardless of the difficulties encountered. | ||||||
| Activation of at least two initiatives, one of which at Group level | 2025 | Work in progress |
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| Collaboration with governments, national and international associations to adopt policies and strategies to contribute to a healthy, inclusive, resilient and sustainable society for everyone | Support institutions in defining pathways in research and innovation that favour the design of ships with reduced environmental impact | 6 institutional meetings | 2024 | Fincantieri S.p.A. | Achieved |
|
| In 2023, ahead of schedule, meetings were held with the institutions stipulated in the Plan. Specifically, the meetings focused on: • offshore wind renewable energy; • technologies enabling the use of hydrogen for ship propulsion; • new ship concepts attentive to improving environmental quality and reducing consumption; • implementation of the plan and actions to decarbonize maritime transport; • development of the supply chain related to floating wind power plants at sea. |
Health and safety in the workplace
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Continuous improvement of workers’ health and safety conditions |
Improvement of health and safety at work performance with a view to zero accidents to protect workers' health and the work environment | Contain the frequency rate for work-related injuries* below 7.5 for the next 5 years * Frequency rate (injury rate) (no. of work-related injuries/hours worked x 1,000,000) |
2023-2027 | Group | Achieved |
|
| Contain the severity index** below 0.2 for the next 5 years ** Severity index (no. of days lost due to injuries/hoursworked x 1,000) |
During 2024, there has been a frequency index < to 7.5 and a severity index ≤ 0.2. In particular, it is recorded: Frequency rate: 2021: 7,41 2022: 8,14 2023: 6,56 2024: 5,17 Severity index: 2021: 0,23 2022: 0,28 2023: 0,18 2024: 0,19 |
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| Conducting work-related stress risk analysis | 100% of Italian shipyards and subsidiaries over 4 years analysed on work-related stress risk | 2024 | Italy | Achieved |
||
| In 2024, a check was carried out to ensure that all Italian shipyards and subsidiaries had carried out the assessment. In particular, legislative compliance with Articles 28 and 29 of Legislative Decree 81/08 and alignment with the document 'The methodology for the assessment and management of work-related stress risk' published by the Italian National Institute for Insurance against Accidents at Work was analysed. | ||||||
| Support tools to improve ergonomics and reduce workloads | Carry out a feasibility study for the adoption of tools to support manual activities, such as industrial exoskeletons, that are compatible with the work environment on board ships under construction in relation to the increase in the average age of the working population in order to achieve an improvement in working conditions in certain activities that engage the musculoskeletal system through robotic structures of various types |
2024 | Group | Achieved |
||
| In order to implement support tools to improve ergonomics and reduce workloads, the feasibility study for the adoption and related testing of different types of exoskeletons, both active and passive, was concluded in 2024. Field test sessions were carried out in this area involving qualified companies from the local ancillary companies of the Monfalcone shipyard, operating in three different disciplines in order to expand the use cases on which to validate the different types of asset selected. The activities carried out enabled the identification of solutions that are already compatible with the shipbuilding industry, and those to be monitored in the future. | ||||||
| Following the outcome of feasibility studies, make the tools identified as suitable for Group companies with similar production processes progressively operational | 2027 | Work in progress |
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| Supporting inspection activities through robotic systems | Carry out a feasibility study for the adoption of autonomous inspection and monitoring systems for shipyard areas and on board ship. These tools will be used to perform their tasks in high-risk or difficult-to-access areas for personnel or for the automation of low value-added tasks |
2023 | Group | Achieved |
||
| Development and operation of 3 prototypes such as: quadrupeds or rovers equipped with sensors for monitoring activities, drones for inspection to analyse accessibility of high-risk areas |
2025 | Achieved |
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| In 2024, ahead of the target time horizon of 2025, three prototype robotic inspection support systems were developed. These tools will be used to perform their tasks in areas that are high-risk or difficult-to-access for personnel or to automate low-value-added tasks. In particular, two prototypes are based on the use of Automated guided vehicle (AGV) rovers, platforms mainly used in industry to facilitate the movement of material. The prototypes developed provide for: the automated and planned transport of material, the automated on-demand transport of material and the use of drones for welding inspections. |
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| Extension of instruments to Group companies with similar production processes | 2027 | Work in progress |
Product quality and safety
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Continuous improvement of the quality and safety of products and services in compliance with technical standards, in all phases of the production process to meet the high standards required by the business |
Increasing the level of control over the cyber risk exposure of the product supply chain | Activation of an audit plan on cyber risk exposure from systems belonging to a pool of 20 suppliers, representing 90% of the cruise business's cyber-critical systems as per IACS UR E26 standard 100% Italian shipyards already in possession of ISO 9001 certification |
2024 | Fincantieri S.p.A. | Achieved |
|
| In line with the objective of increasing the level of control over the cyber risk exposure of the supply chain, a cyber maturity assessment plan of suppliers was initiated. At an operational level, during 2024, the questionnaire used for these audits was integrated into the supplier survey platform adopted by Fincantieri, allowing the Vendor Due Diligence cyber procedure to be launched. This activity was first carried out on an experimental basis on 20 suppliers and was later extended to approximately 7,000 users. To date, 464 suppliers have been surveyed, including 55 representing 90%8 of the cruise business cyber-critical systems, in line with the IACS UR E26 standard. |
Sustainable supply chain
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| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Promotion and support of a responsible and sustainable supply chain that shares our values and is based on long-lasting relationships founded on integrity, transparency and respect |
Development of a Sustainable Supply Chain in order to integrate sustainability criteria into the supplier qualification system and to ensure adequate risk control |
Launch of an ESG assessment program and coverage of the most relevant suppliers in terms of purchasing volume of 30% | 2023 | Group (excluding American subsidiary companies) | Achieved |
|
| At the end of 2023, suppliers accounting for 32,4% of the total perimeter purchasing volume were assessed in ESG terms, exceeding the 30% target defined in the Plan. The ESG score makes it possible to assess the supplier in terms of sustainability and at the same time provide it with a tool for analysis and improvement. | ||||||
Attribution of ESG scores to at least 50% of strategic qualified suppliers* * Meaning suppliers in the Register, net of customer-referenced and imposed suppliers. |
2024 | Achieved |
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| In 2024, 760 strategic suppliers were subjected to an ESG assessment out of a total of 1,000, corresponding to coverage of 76% compared to the target of 50% for the year in the Sustainability Plan. The scope of assessment is Group level (excluding US subsidiaries). In the coming years, activities will continue in line with the Sustainability Plan, which envisages coverage of 1,000 strategic suppliers with assessments in 2025. | ||||||
| ESG assessment e gap analysis sul campione valutato |
2024 | Achieved |
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| An ESG assessment, accompanied by a Gap Analysis, was completed in 2024 on those suppliers that were assessed using the Sustainability Questionnaire. | ||||||
| Attribution of ESG scores to 100% of strategic qualified suppliers |
2025 | Work in progress |
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Extension of ESG supplier scoring system to European subsidiaries** ** The result is subject to the extension of the Fincantieri S.p.A. model to VARD (processes, systems, ERP and e-NGAGE portal). |
2025 | |||||
| Definition of a model for the use of ESG assessment in procurement processes: • integration of ESG scores into supplier qualification criteria • development of improvement plans for less virtuous suppliers |
2025 | |||||
| Implementation of reward mechanisms linked to ESG assessment | 2026 | |||||
| Raising supplier awareness of ESG issues | Organization of at least one engagement session on ESG issues per year with strategic suppliers | 2023-2027 | Achieved |
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| In 2024 were conducted two webinars, “Leading towards sustainable supply chains”, with the aim of informing suppliers of the regulatory updates with the most significant impact and understanding the key challenges to address together and "Cyber Resilience in Fincantieri's Supply Chain" completed the first PartnerShip series of webinars, which started with a session on supply chain finance. A roadshow was held at the Palermo shipyard, where ESG issues were discussed. We also held the Suppliers Summit - "Charting New Waters," which involved the Top Management of the Group's main strategic suppliers and important institutional stakeholders. | ||||||
| Managing «conflict minerals» along the supply chain | Drafting and publishing a Policy on management of «conflict minerals»* * Refer to raw materials or minerals -tin, tantalum, tungsten and gold (the '3TGs') -from high-risk areas or areas affected by armed conflict, the trade of which can finance armed groups, fuel forced labour and other human rights violations and support corruption and money laundering. |
2023 | Group |
Achieved |
||
| Identification and implementation of contractual tools for the management of «conflict minerals» | 2024 | Achieved |
||||
| In 2024, Fincantieri integrated a conflict minerals clause into its "Product Compliance Conditions". Specifically, by signing Appendix 3 "Product Compliance", the supplier/contractor declares that the supply of ores or metals containing tin, tantalum and niobium, tungsten or gold (3TGs), is derived exclusively from certified "conflict-free'" smelters or refineries. | ||||||
| Extension to relevant subsidiaries with reference to EU Regulation 2017/821 | 2025 | Work in progress |
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| Monitoring of relevant product groups | 2027 |
Governance and business integrity
+
| COMMITMENTS | OBJECTIVE | DESCRIPTION / TARGET | TIMELINE | PERIMETER | STATUS | SDGS |
| Promotion of the sustainability culture in line with the Group Values, encouraging managers to think in a sustainable manner within their sphere of action | Assignment of sustainability objectives within the corporate variable reward system |
Application of an increase to the Result Bonus and Management Objective Plan related to five annual sustainability objectives to the target population (white and blue collar workers) |
2023 | Fincantieri S.p.A. | Achieved |
|
| Attribution of sustainability objectives to at least 25% of the staff (middle managers and executives) who have access to the variable reward system |
2023 | Achieved |
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| 100% of Fincantieri's MBO recipient resources have been assigned a sustainability goal. With a weight ranging between 15% and 20%. In addition, 100% of the resources of the companies pertaining to the Clusters (Electronics Cluster, Infrastructure Cluster, Furniture Cluster), Isotta Fraschini Motori and Fincantieri SI recipients of MBO were assigned a sustainability goal. | ||||||
| Attribution of sustainability objectives to at least 25% of the staff with access to the variable reward system |
2024 | Italy | Achieved |
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| With regard to the assignment of sustainability objectives as part of the corporate variable remuneration (MBO) system, 100% of the resources of Fincantieri's Italian companies subject to MBO were assigned a sustainability objective in 2024, exceeding the target of 25% of personnel set for 2024. The MBO objectives cover the social, environmental and governance spheres. With a weight ranging from 15% up to a maximum of 20%. | ||||||
| Attribution of sustainability objectives to the top management of foreign subsidiaries |
2023 | Group | Achieved |
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| Increasingly sustainable and responsible corporate performance, creating the conditions for development that ensures the needs and expectations of all stakeholders are met |
Align the financing strategy with its sustainability targets and international best practices in terms of sustainable finance |
Increase the weight of sustainable finance to at least 20% of medium-to long-term funding |
2023 | Group | Achieved |
|
| In 2023, the Group continued its work to link its portfolio of financial instruments with the strategies outlined in the Sustainability Plan, managing to finalize ‘green’ finance products totalling euro 1,615 million during the year, of which euro 615 million of construction loans and euro 1,000 million of medium/long-term financing. At the end of 2023, total outstanding medium/long-term loans at Group level amounted to euro 2,163 million, of which euro 1,240 million equal to 57% of the total ‘green/ESG linked’ finance. | ||||||
| Increase the weight of sustainable finance to at least 30% of medium- to long-term funding | 2025 | Work in progress |
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| Increase the weight of sustainable finance to at least 40% of medium- to long-term funding | 2027 | |||||
| Maintenance of the Corporate Governance system and risk management (including sustainability risk) in line with international best practices | Alignment of the FINCANTIERI Travel Security program with the guideline UNI ISO 31030: 2021 Travel risk management - Guidance for organizations to further ensure the safety of travelling employees | • Definition and publication of a Travel Risk Policy compliant with ISO 31030 and updating of existing corporate procedures (where necessary) | 2024 | Fincantieri S.p.A. | Achieved |
|
| • Definition of a Travel Risk Management (TRM) operational model for Fincantieri S.p.A. | Fincantieri has drafted and published the Travel Risk Policy, which is available to all stakeholders on the official website. In addition, Fincantieri has defined a Travel Risk Management (TRM) operating model and is the first Company in Italy to have obtained ISO 31030 certification, international certification that provides guidelines for managing risks linked to business travel. | |||||
| • Gap analysis through third-party audit of Fincantieri's TRM model referring to the perimeter of Italian subsidiaries and drafting of an alignment road map | 2026 | Italy | Work in progress |
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| • Start of the gap analysis process of Fincantieri’s TRM model referring to the VARD group perimeter and drafting of an alignment road map | 2027 | Group (excluding American subsidiary companies) |