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 and it addresses some global challenges (the UN's Sustainability Development Goals - SDGs). The Charter of Sustainability Commitments details the commitments undertaken by the Group and breaks them down 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, approved by the Board of Directors of FINCANTIERI S.p.A., comprises:
objectives to be achieved in the short, medium and long term
The 16 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:
- 5 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 Company 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
To ensure that the Sustainability Plan objectives are achieved, we have created a special Governance structure, which consists of:
- the Sustainability Committee, established in 2016 with the role of supervising the overall management of sustainability in the Company and providing a strategic direction to the Plan in line with the Group's business strategies
- A multifunctional Working Group for sustainability tasked with defining objectives, targets and timescales for the sustainability commitments already undertaken by the Group in the Charter of Sustainability Commitments
- Responsibility for achieving the objectives in the Sustainability Plan lies with the representatives of the units involved, which dedicate resources, tools and know-how to implement the actions underlying those objectives
- The Sustainability Unit ensures compliance with the commitments undertaken by monitoring the progress of projects and achievement of the objectives and continually keeping the Sustainability Committee informed
We update the Plan's objectives on a yearly basis starting with the results achieved and adding the new needs. The 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 above 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 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.
Five 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
|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||2019|
|Maintenance of the Corporate
Governance system and risk management
(including sustainability risk) in line with international best practice
|Structure an Emergency Response & Crisis Management process in Safety & Security||2019|
|Implementation of the International Ship and Port Facility Security Code (ISPS Code)||2020|
|Respect for the law and prevention of corruption in all spheres of influence||ISO 37001 Certification||2020|
|Integration of sustainability topics in dialogue with stakeholders (timeliness, accuracy, and exhaustive flow of information to stakeholders)||Implement an external Stakeholder engagement programme||2022|
Economic and financial sustainability
|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||2022|
|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||2019-2030|
Relations with local communities
|Dialogue with and support for local communities through social, cultural and educational initiatives||Commitment to managing social activities||2019|
|Collaboration with governments, national and international associations to adopt policies and strategies to contribute to a healthy, resilient and sustainable society for everyone||Enter into agreements with Food Banks or other associations to redirect food surpluses in canteens at Fincantieri sites||2020|
|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)||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 relations
|Employment and job protection to promote economic and financial sustainability||Promoting the hiring of under-35s||2022|
Training and education
|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)||2020|
|Include a sustainability module in the Fincantieri Corporate University training programmes||2020|
Diversity and equal opportunity
|Promotion of programmes to promote diversity and inclusion within the Group||Commitment to human rights and diversity||2019|
|Develop a training programme for facilitators on sustainability issues and in particular on diversity and its promotion in the company||2020|
|Increase the wellbeing of personnel through innovative solutions rather than traditional ones||Launche 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||2021|
|Company car pooling project||2019 - 2020|
New horizons and markets: material topics
|Listen to expectations/demands and maximize customer satisfaction||Develop and apply methodologies for detecting the level of customer satisfaction.
Identify new organisational solutions to strengthen customer loyalty
Innovation: material topics
Product quality, compliance with technical standards
|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||Annually|
Innovation, research and development
|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)||2030|
Environmental impact of products and services
|Development of ecologically sustainable products and services with the aim of contributing to a low carbon economy||Develop technological solutions that enable energy savings to be increased for ships with the same features (green ships)||2030|
|Definition of an eco-design system to promote the development of environmentally sustainable ships||2019|
Streamlined production: material topics
Health and safety
|Pursue improvements in workers’ health and safety||Obtain ISO 45001 certification||2020|
|Initiatives to engage subcontractors (workshops, “last metre”) on issues associated with health and safety||2021|
|Health promotion to disseminate healthy lifestyles||2022|
|Promotion of a responsible and sustainable supply chain based on long-lasting relationships founded on integrity, transparency and respect||Code of Ethics for suppliers||2019|
|Organise meetings and opportunities for dialogue with suppliers as well as training on sustainability issues||2019|
|Deliver a training course on sustainability and responsible procurement principles to employees who interact directly with suppliers||2022|
|Action to raise energy efficiency and reduce carbon dioxide (CO2) and other pollutant emissions||Reduction of Scope 2 greenhouse gas (GHG) emissions||2020|
|Conservation of natural resources, biodiversity, and reduction of environmental impact||Obtain ISO 50001 certification||2021|
|Increase the portion of electricity from renewable sources||2020|
|Increase employee awareness of environmental impact and promote virtuous behaviour||Launch the Sustainable Office Project (10 rules)||2019|