Our fifth Sustainability Report is a communication tool that describes, in a transparent and structured manner, the economic, social and environmental results achieved, and demonstrates our commitment to sustainable development, with the aim of creating value not only for the Company, but also for our stakeholders.
The Sustainability Report represents the Consolidated Non-Financial Statement of the Fincantieri Group and reports, to the extent necessary to ensure an understanding of the activities of the company, its progress, its results and its impact, in relation to the areas considered important and required by Legislative Decree 254/2016, on the "disclosure of non-financial and diversity information by certain large undertakings and groups".
As required by the Decree this document is a distinct report with the appropriate wording to identify it as the Consolidated Non-Financial Statement.
In the Sustainability Report 2021 we also present to the stakeholders our Sustainability Plan objectives achieved in 2021. The Plan is approved by the Board of Directors and it highlights and strengthens the intention to be a responsible Group. The Plan addresses the commitments undertaken by the Group and breaks them down into qualitative and quantitative targets that can be measured over time, which also underline our support for some of the United Nations Sustainable Development Goals - SDGs.
In 2019, we decided to join the Global Compact, the initiative to promote and disseminate sustainable development practices launched and sponsored by the United Nations, and has therefore committed ourself to integrating the ten principles relating to human rights, labour rights, environmental protection and combating corruption into our policies, strategies and activities. The Sustainability Report represents the Communication on Progress (COP), the instrument though which we inform our stakeholders on the activities and results carried out in 2021, with reference to the UN Global Compact.
For the first year, Fincantieri analysed the recommendations of the TCFD – Task Force on Climate-related Financial Disclosures in the reporting of information related to the management of climate change aspects. In particular, the “Fincantieri for the climate” chapter has been prepared, which contains governance, strategy, risk management and metrics and targets related to climate change.
As required by Article 8 of EU Regulation 2020/852 – Taxonomy, for the first year the Group has reported the share of revenues, capital expenditure (Capex) and operating expenditure (Opex) that qualify as eligible from the perspective of the Taxonomy, i.e. those activities that can contribute to a low-emission economy without however considering the technical criteria that will be implemented from next year.
The process of collecting data and information and drafting the Report is coordinated and managed by the Sustainability Unit, in cooperation with the multifunctional Working Group. The Report’s contents have been defined according to the principles of accuracy, balance, clarity, comparability, reliability and timeliness. The Report has been prepared in accordance with a specific internal procedure that defines the roles, responsibilities and operating methods that the Parent Company’s and subsidiaries’ staff must follow, in order to guarantee the proper management of all the data required to prepare the document.
The data were processed and validated by the various function managers. The Report is required to be published annually. This document was approved by the Board of Directors on th March 23rd, 2022.
The Sustainability Report has been prepared according to the GRI Sustainability Reporting Standards, of Global Reporting Initiative, according to “in accordance core” option.
The contents reported have been included on the basis of the materiality analysis (materiality matrix), which allowed the material aspects to be identified, i.e. those which reflect the significant impacts for the organization from an economic, environmental and social viewpoint, and which substantially influence the stakeholders' assessments and decisions.
For each theme evidence is given on its materiality in relation to the Group activities, the risks connected, the Company’s policies and commitments and the results obtained and monitored using ad hoc indicators capable of representing the results in terms of management.
DATA AND INFORMATION
The reporting boundary of the data presented in the Report relates to the companies fully consolidated in the consolidation area used for the consolidated financial statements. Where this is unavailable, it refers to the scope specified.
The information and data mainly refer to the year that ended on 31 December 2021.