Sustainability is not just an opportunity but for us it is a genuine mission to represent a model of excellence in the world, by adopting a pervasive approach to business that is able to respond to the challenges of a globalised world and is increasingly sensitive to the impacts generated by industrial processes on society and the environment.


We have decided to structure our sustainability path by adopting an integrated strategy that is capable of combining business growth and financial stability with social and environmental sustainability, creating value in the long term.


This is why we have integrated the topics that are significant (material) for the Group into the business strategy.
The Sustainability Plan is Fincantieri's strategic approach to sustainability, it addresses some global challenges (the UN’s Sustainability Development Goals - SDGs) and the commitments undertaken by the Group are broken down in the Charter of Sustainability Commitments into qualitative and quantitative targets that can be measured over time.

 


With this integrated strategy (Sustainability Plan and Business Plan) we are able to manage its response to the market challenges of today and tomorrow in a sustainable way.

The Sustainability Plan has been updated with the integration of the new material topic of cyber security and it comprises:

 

17

material topics

24

sustainability commitments

32

objectives to be achieved in the short, medium and long term

The 17 material topics for Sustainability are linked to the 4 Pillars of the Business Plan (Long term visibility, New horizons and markets, Innovation, Streamlined production). In particular:

 

  • 6 material topics are horizontal in that they involve all 4 Pillars and contribute generally to the Group's growth
  • the other 11 material topics are associated with one of the 4 Pillars and show a clear correlation between the business drivers and those aspects of sustainability that the Group recognises as significant
  • the objectives contribute in particular to the achievement of the 6 SDGs that we have recognised as significant for our business and in line with our strategic direction

 

The Sustainability Plan is approved by the Board of Directors of Fincantieri S.p.A..

Responsibility for achieving the objectives in the Sustainability Plan lies with the different corporate departments involved, which dedicate resources, tools and know-how to implement the actions underlying those objectives.

The Plan’s objectives are revised on a yearly basis taking in account the results achieved and adding the new needs that arise over time. The reference base year against which the quantitative targets in the Plan are defined is 2017.

  • Contribute to creating value for the Group over the medium and long term, in line with the direction given in the Business Plan
  • Act as a guideline for implementing corporate commitment, which is expressed through the commitments contained in the Charter of Sustainability Commitments
  • Enable the creation of synergies between units and a sustainability culture
  • Attribute ownership of the actions to the various company Units, including through the company's variable remuneration system (MBO)
  • Address the internal risk drivers identified (Non-Financial Risks in the Group's Risk Model)
  • Contribute also to improving the corporate reputation by attracting the best talent and strengthening the Group's visibility
  • Define the Group's set of actions to respond to Stakeholders' expectations, in particular those of Investors, Rating Agencies and Shareholders
  • Responds to external drivers such as the UN’ Sustainable Development Goals (SDGs) and, in particular, those that are relevant for Fincantieri’s business and in line with the corporate policy lines on development. Sustainable Development Goals define the priorities for contributing to global development, promoting human well-being and protecting the environment

In terms of methodology, the Plan is developed along the following steps, which were started in 2017.

Horizontal topics

Six of the material topics are defined as horizontal because they involve all the four Pillars and contribute generally to the Group's sustainable growth.

Governance and business integrity

Commitment Objectives Description/ Target Benefits Status Timetable

Promotion of the sustainability culture in line with the Group Values, encouraging managers to think in a sustainable manner within their sphere of influence

Gradual assignment of sustainability objectives in the Company’s variable remuneration system

Assign objectives related to sustainability to Italian personnel interested in the variable remuneration system

Raise awareness, assign responsibility and promote focus on the issue of sustainability

 Achieved

 

In 2019, 13.3% of MBO Plan recipients received at least one sustainability target.

2019

Maintenance of the Corporate Governance system and risk management (including sustainability risk) in line with international best practices

Structure an Emergency Response & Crisis Management process in Safety & Security

Implement the project which consists of:

  • Appointment of the Crisis Management Team (CMT) and deputies
  • Periodic CMT training
  • Definition of methods for activating and managing the CMT
  • Virtual Crisis Management Room
  • Definition of standards for future physical Control Room

Creation of a single CMT through official appointments, training and equipping a Virtual Crisis Room

Reduce decision-makers' engagement times in relation to recovery measures. Be resilient, and ensure regulatory compliance and reduction of damage to human resources, company property and reputation

 Achieved

 

A Crisis Management system (abroad) has been activated, 12 contingency plans have been drawn up and updated for the most important foreign sites and locations where the Company is present. The plans are managed by special crisis committees (CMTs).

2019

 

Implementation of the International Ship and Port Facility Security Code (ISPS Code)

Implement the project which consists of:

  • Updating of the security plans for those sites subject to the ISPS Code
  • Personnel training
  • Drills
  • Adoption of the security process methodology even in those sites where compliance with the regulation is not compulsory

100% Italian sites

Ensure:

  • Regulatory compliance
  • Resilience to criminal and/or terrorist threats
  • A high level of expertise of personnel with security tasks
  • Awareness of all other personnel who access the sites

 Work in progress

 

A project to implement the ISPS Code has been launched, in order to adopt a methodology in line with the above-mentioned international best practices, to protect our assets as well as its ship product, also for the Ancona, Castellammare di Stabia, Genoa Sestri Ponente, Riva Trigoso shipyards and for the Trieste, Rome and Genoa offices.

2020

Respect for the law and prevention of corruption in all spheres of influence

ISO 37001 certification

Obtain ISO 37001 certification, which defines the requirements of the Anti-Corruption Management System, in order to support public and private organisations in combating and preventing corruption and disseminate a culture based on ethics and good conduct

 

Obtain ISO 37001 certification for Fincantieri SpA

Improve perception of the Company’s and Group’s ethical standing

Work in progress Work in progress

2020

Integration of sustainability topics in dialogue with stakeholders (timeliness, accuracy, and exhaustive flow of information to stakeholders)

Implement an external stakeholder engagement programme

Implement stakeholder engagement, a process aimed at developing constant dialogue and direct interaction with the Group’s internal and external stakeholders

 

At least 1 stakeholder engagement meeting/contact each year

  • Identify and understand stakeholders’ priorities, expectations and needs in terms of sustainability
  • Share decisions, actions and performance in sustainability aspects with them (materiality analysis)
  • Create continuous dialogue in order to identify critical aspects and mitigate risks

Achieved Achieved

 

In 2019, we involved our employees, customers, suppliers and partners, the financial community and other stakeholders in helping us understand where we can and should make the most impact, in an initial path of engagement that we are committed to developing over time. We have identified, together with them, the material issues considered relevant for both the Company and its stakeholders.

2022

Cyber Security

Commitments Objectives Description/ Target Benefits Status                      Timetable

Guarantee protection of the computer systems and data by minimizing the risks of network breaches and corruption of data or sensitive processes, and develop the cyber security strategy for products and services

Development of a central information technology system and industrial platforms to bolster protection of industrial networks

  • Expand the perimeter of the technological protection infrastructure in order to counter modern cyber security threats (email security review, anti malware evolution, Sandbox development, upgrade SIEM software development, etc.)
  • Automate cyber incident 
    detection and management processes
  • Develop tools, processes and methodologies to support compliance with Regulation (EU) No. 2016/679 (GDPR) and international data protection and security standards (ISO 27001/9001)
  • Adopt a program to protect the industrial networks supporting ship production (OT/SCADA security)

 

Fincantieri SpA and Italian 
subsidiaries (Marine Interiors, Isotta Fraschini Motori, Cetena, Fincantieri Infrastructure, Seastema)

Minimize the risks of data loss by protecting intellectual property and compliance with data and information protection regulations, reaping benefits to the corporate image and competitive advantages in the marketplace

 Work
 in progress

2021

Economic and financial sustainability

Commitments Objectives Description/ Target Benefits Status                      Timetable

Increasingly sustainable and responsible corporate performance, creating the conditions for development that ensures the needs and expectations of all stakeholders are met

Contents of the Business Plan

   

 Work
 in progress

2022

Climate Change

Commitments Objectives Description/ Target Benefits Status Timetable

Support for research to improve the analysis and management of risks associated with climate change

Research projects to develop new solutions for energy savings or reduction of emissions in collaboration with research institutes / universities on issues associated with climate risks

Activate collaborations with universities / research institutes in order to develop new solutions for energy savings or reduction of greenhouse gas emissions

 

1 project in 2019

5 projects by 2030

Increase / maintain product competitiveness, reduce greenhouse gas

 Achieved

 

In 2019 a project was launched to study proposals for regulations allowing the use of fuel cells on board ships, with particular focus on passenger ships. Fincantieri also presented a project proposal called GreenCruise to the Italian Ministry for Economic Development to study and develop prototypes of power generation solutions using alternative fuels (e.g. LNG and fuel cells). This second project is awaiting evaluation by the Ministry’s technical experts.

2019-2030

Relations with local communities

Commitments Objectives Description/ Targe Benefits Status Timetable

Dialogue with and support for local communities through social, cultural and educational initiatives

Commitment to managing social activities

Draft a policy that expresses the Company’s commitment with regard to local community initiatives

Increase transparency and improve management of initiatives

 Achieved

 

The Fincantieri Group Policy on initiatives for the Community and Territory has been drawn up and it has been approved by the Board of Directors of Fincantieri S.p.A.. With this Policy, the Group is committed to dialogue and support the local communities and contains the lines of action on which the community support strategy is based.

2019

Collaboration with governments, national and international associations to adopt policies and strategies to contribute to a healthy, inclusive, resilient and sustainable society for everyone

Enter into agreements with Food Banks or other associations to redirect food surpluses in canteens at Fincantieri sites

Enter into agreements with food associations in order to get involved in redirecting surplus food in canteens at Fincantieri sites

 

Enter into agreements in all Italian cities in which Fincantieri has a site with a canteen

Reduction of waste and increase the well-being of those in need and increasing the Company’s reputation

 Work in progress

 

In 2019 Fincantieri signed a joint working agreement with the Banco Alimentare (Food Bank) of the Liguria and Marche Regions and with the companies that provide catering services at the canteens in the Muggiano and Ancona shipyards. These initiatives replicate similar experiences already underway at the Sestri Ponente and Riva Trigoso shipyards. Further agreements will be concluded during 2020, where locally compatible.

2020

Human Rights

Commitments Objectives Description/ Target Benefits Status Timetable

Respect for human rights through the adoption of policies and creation of programmes to promote diversity and inclusion within the Group

Annual audits to assess and monitor the most critical suppliers in terms of human rights, health and safety and the environment (second party audit)

Conduct annual audits - tool for an informed management of the supply chain

 

35 audits per year

Ensure that the level of compliance is aligned with Fincantieri's standards and observance of a sustainable supply chain

 Achieved

 

35 sustainability audits were carried out in 2019 at strategic suppliers for human rights, environment, health and safety aspects. Two checklists were implemented to make the evidence found during the audits more uniform: one related to the environment and one related to health, safety and human rights, which were divided into thematic areas that consider the specific aspects analysed.

2019

PILLARS AND MATERIAL TOPICS

To each one of the four Pillars of the Business Plan are associated the other eleven material topics, to show the direct correlation between the business drivers and the aspects of sustainability that the Group recognises as significant.

Long term visibility: material topics

Protection of employment and industrial relationships

Commitments Objectives Description/ Target Benefits Status Timetable

Employment and job protection to promote economic and financial sustainability

Promoting the hiring of under-35s

Promote young people’s employment using multiple collaboration channels with Schools and Universities. Promote activities aimed at directing young people’s choices of studies in line with the demands of the employment market (graduate programmes)

 

Keep the percentage of hires of under-35s above 40% of all new hires per year in Italy

Encourage generational turnover and create the right mix of professional skills within the workforce, developing the required skills

 Work
 in progress

 

In 2019 in Italy, 787 people were hired, of whom 62% are under 35.

2022

Training and education

Commitments Objectives Description/ Target Benefits Status Timetable

Promotion of growth, training and enhancement of human capital

Collect proposals and improvement initiatives with regard to sustainability from employees and implement them (FincantieriON project)

Activate, as part of the FincantieriON project, the implementation of sustainability initiatives proposed by employees with the aim of ensuring the active involvement of personnel

 

Implement at least 4 of the most innovative ideas of employees in Italy

Increase the active involvement of employees, contributing to the creation of a cooperative climate, and exploit the innovative benefits arising from implementing “winning” ideas

 Work in progress

2020

 

Include a sustainability module in the Fincantieri Corporate University training programmes

Implement training modules on sustainability, as part of the training given by the Fincantieri Corporate University (Academy, Competency Management, PM for Staff, PM Advanced)

 

Include 1 module on sustainability per course

Raise staff awareness of sustainability issues

 Achieved

 

As part of the Corporate University’s training programmes, we have introduced a module dedicated to sustainability issues. In 2019, 131 employees were trained on these issues.

2020

Diversity and equal opportunity

Commitments Objectives Description/ Targe Benefits Status Timetable

Promotion of programmes to promote diversity and inclusion within the Group

Commitment to human rights and diversity

Draft a policy on human rights and diversity which will enable a set of principles and rules to be defined, allowing the Group to improve commitment to these aspects

  • Access new markets and develop employer branding
  • Protect against risks
  • Promote equality
  • Promote salary equality
  • Ensure national and European compliance

 Achieved

 

The Fincantieri Group Policy of Human Rights – Commitment for the respect of human rights and diversity has been drawn up and it has been approved by the Board of Directors of Fincantieri S.p.A., in order to define principles and rules that guide the strategies, activities and initiatives of the entire Group towards respect for human rights and the promotion of diversity and inclusion.

2019

 

Develop a training programme for facilitators on sustainability issues and in particular on diversity and its promotion in the Company

Develop a training programme for facilitators on sustainability issues and on their promotion in the Company, as part of the Fincantieri for the Future project

 

At least 40 facilitators trained in Italy

Disseminate widely and naturally new behaviour and an open mentality also on sustainability issues

 To be implemented

2020

Company Welfare

Commitments Objectives Description / Target Benefits Status Timetable

Increase the wellbeing of personnel through innovative solutions rather than traditional ones

Launch the smart working tool to support maternity from before birth until the child reaches one year as well as resources with evident non-fitness to work certified by the competent doctor

Launch a smart working project for specific categories of employees in Italy

(pregnant women, illness, new mothers)

Increase work hour flexibility for employees with particular conditions to improve work-family life balance

 Work in progress

 

In 2019 we continued to test smart working for particular personal situations. This tool was extended as much as possible during the COVID-19 emergency.

2021

 

Company car pooling project

Implement a platform to manage company car pooling.

Employees will be able to organise home-work commutes autonomously and immediately through a personalised portal or App downloaded to a mobile phone, benefiting from a system of promotions and incentives

 

2019 Fincantieri SpA,

2020 Italian subsidiaries

Reduce the costs and consumption of fuel for employees as well as emissions associated with home-work commutes

 Achieved

 

2019 was the year of the launch of the company digital car pooling service in Fincantieri S.p.A., where was provided for incentives and the recognition of bonuses.

2019-2020

New horizons and markets: material topics

Customer satisfaction

Commitments Objectives Description/ Target Benefits Status Timetable

Listen to demands and expectations in order to maximize customer satisfaction

Develop and apply methodologies for detecting the level of customer satisfaction.
Identify new organisational solutions to strengthen customer loyalty

Develop a Customer Satisfaction Index (CSI) System that consists of:

  • A CSI development plan
  • CSI measures and calibration
  • An intra-group CSI benchmark
  • CSI objectives for each company

Monitor trends and act in a specific and targeted way on the areas of client dissatisfaction

 Work in progress

 

In 2019, the internal procedure was defined and tested on two orders, one from the Cruise Ship Division and one from the Naval Shipping Division.

2019-2021

Innovation: material topics

Product quality, compliance with technical standards

Commitments Objectives Description/ Target Benefits Status Timetable

Continuous improvement of quality and respect for technical standards, in all phases of the production process to meet the high standards required by the business

Keep ISO 9001 certifications on the Quality Management Systems and product certifications in line with market expectations

Keep certifications active and up-to-date in every Italian site. The ISO 9001 standard defines the requirements for the Quality Management System Keep product certifications in line with sustainability paradigms (e.g. Green Passports)

Ensure observance of the quality requirements of processes in an efficient and integrated way, in line with market expectations

 Achieved

 

We maintained all our quality certifications in 2019. To maintain the ISO 9001:2015 certification, the Group’s divisions and companies were subjected to official audits by the certification body.

Annualy

Innovation, research and development

Commitments Objectives Description/ Target Benefits Status                      Timetable

Investments in research and innovation with the aim of developing sustainable, efficient, safe and competitive products and processes

Development of intelligent ships and platforms (smart ships / smart offshore infrastructure) and autonomous ships. Development of innovative solutions for yards (smart yards)

Develop:

  • A reference framework for secure interconnection (in terms of cybersecurity) between all the on-board systems to exchange/record data in real time (or near real time) on open formats
  • On-board systems to support the average level of autonomy (e.g. L4 as defined by LLOYD)
  • Offshore platforms capable of collecting double the energy of current platforms
  • Industria 4.0 tool to be adopted at yards to increase productivity by 50%
  • Tool to access digital assembly instructions and monitor progress of production work in real time on company technical systems
  • Optimise performance, minimise operating costs and adhering to the highest safety standards
  • Obtain information on the operating status in order to prepare the best operating scenario, even for critical or emergency situations
  • Support development of the blue economy

 Work
 in progress

2030

Environmental impact of products and services

Commitments Objectives Description/ Target Benefits Status Timetable

Development of ecologically sustainable products and services with the aim of contributing to a circular and low carbon economy

Develop technological solutions that enable energy savings to be increased for ships with the same features (green ships)

Develop ships with high energy savings from eco-friendly/renewable sources, with reduced environmental impact in terms of emissions into the air, discharges into the sea and noise

 

Increase ship efficiency by 30%

 

Eliminate ship emissions in ports and halve navigation emissions

Decrease greenhouse gas and other environmental impacts while maintaining competitiveness and product compatibility with the new advanced regulations

 Work in progress

2030

 

Definition of an eco-design system to promote the development of environmentally sustainable ships

Make ready-to-use technical solutions available to the designers in the Merchant Ship Division, with systems and components with low environmental impact.

The system will be based on a policy outlined in the Organisation Manual, on a design procedure that gathers initiatives and provides the KPIs proposed internally

Implement new systems and components with low environmental impact

 Achieved

 

An eco-design system has been defined to promote the development of eco-sustainable ships. The basic principles of eco-design and its requirements, and the rationale behind it, have been implemented in a procedure that contains specific applied solutions and their expected effects as regards the various environmental aspects.

2019

Streamlined production: material topics

Health and safety in the workplace

Commitments Objectives Description/ Target Benefits Status Timetable

Continuous improvement of the health and safety conditions of workers

Obtain ISO 45001 certification

Move from the current OHSAS 18001 certification to the ISO 45001 standard. ISO 45001 certification defines the requirements of the Health and Safety at Work Management System

 

100% of Italian yards certified

Minimise risks, improve levels of health and safety at work, improve the Company’s image, reduce insurance premiums and financial guarantees where required

 Work in progress

 

In 2019, eight Italian sites completed the migration process to the new ISO 45001 standard.

2020

 

Initiatives to engage subcontractors (workshops, “last metre”) on issues associated with health and safety

Develop a project to engage subcontractors on issues of health and safety management

 

75% of the population that can be informed in Italy

Improve awareness and management of health and safety for subcontractors’ workers

 Work in progress

2021

 

Health promotion to disseminate healthy lifestyles

Develop a project to promote health in the workplace aimed at disseminating healthy lifestyles and preventing illnesses such as obesity, diabetes, strokes, etc.

 

75% of the population that can be informed in Italy

Reduce absenteeism, increase productivity, reduce turnover, facilitate hiring and promotion of a positive image and one attentive to employees’ needs

 Work in progress

2022

Procurement activities

Commitments Objectives Description/ Target Benefits Status Timetable

Promotion and maintenance of a responsible supply chain that shares our values and is based on long-lasting relationships founded on integrity, transparency and respect

Code of Ethics for suppliers

Draft a document containing a set of rules, principles and conduct in terms of sustainable procurement, in compliance with international standards and best practices

Develop a sustainable supply chain, improve positioning on the market and image.

Guarantee coverage of risks associated with sustainability

 Achieved

 

Fincantieri has drawn up the Suppliers' Code of Ethics approved by the Board of Directors of Fincantieri S.p.A., a document that defines the values and principles of conduct that suppliers must refer to and adopt in order to pursue a development that integrates competitiveness, environmental sustainability and social responsibility, capable of establishing a long-term partnership based on integrity, honesty and mutual transparency.

2019

 

Organise meetings and opportunities for dialogue with suppliers as well as training on sustainability issues

Send a questionnaire on sustainability issues (and organise meetings) to suppliers identified as priority/strategic

 

Send the questionnaire to 100% of strategic suppliers

Increase engagement with suppliers in order to identify best practices and common initiatives on sustainability issues

 Achieved

 

During 2019, we organized our first sustainability meeting with the participation of 23 strategic suppliers. Sustainability has steered these meetings, during which topics such as the Sustainability Plan and related objectives were presented, with particular emphasis on those concerning the supply chain. Moreover, in order to increase our partners’ awareness of and involvement in social and environmental issues, a fact-finding questionnaire was sent out in 2019 to a panel of 75 suppliers considered significant, with the aim of studying the actions and the governance model adopted.

2019

 

Deliver a training course on sustainability and responsible procurement principles to employees who interact directly with suppliers

Develop an e-learning training module on sustainable procurement for employees who interact directly with suppliers in Italy

 

100% of buyers

Raise awareness and train staff on sustainability issues in order to improve relations with suppliers on these specific topics

 To be implemented

2022

Environmental management

Commitments Objectives Description/ Target Benefits Status Timetable

Action to raise energy efficiency and reduce carbon dioxide (CO2) and other pollutant emissions

Reduction of greenhouse gas (GHG) emissions associated with electricity consumption (Scope 2)

Reduce greenhouse gas (GHG) emissions associated with electricity consumption (Scope 2)

 

-20% of GHG emissions compared to 2017

Contribute to the fight against climate change (most sustainability ratings require objectives to reduce GHG emissions)

 Work in progress

 

In 2019 GHG emissions from Scope 2 were reduced by 29.4% compared to 2018 and by 32.9% compared to 2017.

2020

Conservation of natural resources, biodiversity, and reduction of environmental impact

Obtain ISO 50001 certification

Obtain ISO 50001 certification which defines the requirements for an efficient management of direct electricity consumption

 

Obtain certification in Italy (Fincantieri SpA)

Make rational use of energy sources, achieving specific reduction targets. Increase transparency and ease of communication regarding management of energy sources, improving image and compliance with Legislative Decree 102/2014

 Work in progress

 

A gap analysis was carried out in 2019 with the aim of assessing the current energy management system against the requirements of the standard and consequently identifying the activities needed in order to obtain certification. The activity involved representatives of the main organizational units concerned with the certification process, who will subsequently play an active role in maintaining it. The process of identifying and formalizing specific working groups (Energy Team) has also been initiated and more than 50 people throughout the Company are expected to be involved.

2021

 

Increase the portion of electricity from renewable sources

Purchase electricity produced by certified renewable sources

 

100% electricity purchased in Italy

Reduce GHG emissions with benefits for the Company image and competitive advantage on the market

 Work in progress

 

In 2019, about 50% of the electricity needed to satisfy the demand of Italian production sites and companies was purchased and sourced from renewable sources (hydroelectric, wind, photovoltaic) certified with Guarantees of Origin (GO).

2020

Increase employee awareness of environmental impact and promote virtuous behaviour

Launch the sustainable office project (10 rules)

Launch an initiative promoting protection of natural resources within the Group, clearly defining a set of rules.

The initiative also includes the digitalisation of company documents

 

100% employees in Italy

Promote the protection of natural resources within the Group and reducing related costs

 Achieved

 

Fincantieri For The Green Future communication campaign has been launched aimed at creating greater awareness and sensitivity on environmental issues and encouraging all employees to make a tangible contribution to safeguarding the environment. The campaign was launched by distributing a brochure to all employees that illustrates the virtuous behaviour to be adopted in everyday life, both in the workplace and at home, and with the symbolic distribution of a gadget (an aluminium water bottle to encourage people to reduce their plastic consumption)

2019

Related Topics

Sustainability Governance

Our governance model

Our committments

Stakeholders

Memberships and participation in associations

Materiality Matrix

Sustainability risks

Our performance

Reporting

Presentations

Business Ethics