Sustainability: report and responsibility

SUSTAINABILITY

Sustain, to lead

"Every decision and measure we take is guided by our commitment to steer the market toward sustainable development, the sole viable path. Sustainability is not only our approach to business management, but a duty we owe to future generations."

"We want to be a global player with a key role in the decarbonization process, and we intend to do so by promoting sustainable growth for people and the planet."

Maria Cristina Bifulco

Chief Investor Relations, Sustainability and Communications Officer

SUSTAIN, TO LEAD

Prysmian’s sustainability strategy

Sustain, to Lead sums up our sustainability strategy. It is the belief that shapes our goals and guides our vision.

The sustainability strategy is based on four pillars, each of which contributes to the creation of added value for the benefit of the Group and all its stakeholders:

  • Environment
    Our primary goal is to act proactively as pioneers in our Group's decarbonization processes, promoting emission reduction actions throughout the value chain and developing solutions whose positive impact extends beyond the boundaries of our business.

 

  • People and Communities
    People are at the core of our activities. We are committed to implementing pro-employee policies, recognizing merit, promoting the values of diversity and inclusion, ensuring work-life balance and benefitting the social communities in which we operate.

 

  • Governance
    The centrality of sustainability in our strategy is also evident from the definition of a specific governance, which has the task of presiding over all Group initiatives in a structured and rigorous manner, ensuring transparency, accountability and alignment of the interests of the Group's stakeholders, towards the achievement of ESG objectives.

 

  • Innovation
    Innovation is a strategic pillar that has characterized us since our origins, and it affects all dimensions of the company: from the development of new products, developed taking into consideration their added value in terms of sustainability, to decarbonization and social impact initiatives.

Social Ambition and Climate Change Ambition

During 2021, Prysmian formalized two strategic ambitions that will guide its actions over the medium-long term: the Climate Change Ambition and the Social Ambition.

Climate Change Ambition

Prysmian’s ambition is to be the leading technology player in the low-carbon transition, and our investments are aimed at increasingly improving the sustainability of the entire value chain.

Ambition that we nurture every day with concrete actions: energy efficiency, responsible use of natural resources (raw materials and water), optimization of logistic flows, proper waste management, protection of biodiversity.

Prysmian’s climate strategy adopts science-based targets aligned with the Paris Agreement climate objectives. In particular, the Science-Based Targets initiative (SBTi) defines the requirements for an effective Net-Zero strategy:

  • reduction of Scope 1, 2 and 3 emissions to zero, or at least to a residual level consistent with achieving the global or sector targets set in line with the Paris Agreement;
  • neutralization of any residual and greenhouse gas (GHG) emissions released into the atmosphere.

Within this initiative, Prysmian has taken the following actions:

  1. definition of an overall Net-Zero target;
  2. definition of a short-term emissions-reduction target;
  3. definition of a long-term emissions-reduction target.
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Social Ambition

Prysmian recognizes that its people are and always have been a fundamental asset to the business. The history and the success of the Group derive directly from the know-how and skills of our employees, as well as from their engagement and constant motivation to support our growth towards the future.

Prysmian's aspiration is to build a more equal, inclusive and innovative world, starting with, but not limited to, its employees. To be able to do this, the Group formalized its Social Ambition, which mainly concentrates on the commitment to improve Diversity, Equality and Inclusion (DE&I), digital inclusion, the empowerment of communities, employee engagement and upskilling.

Caring for, valuing and cultivating our people is the goal of our Social Ambition. That is because, for us, being connected and spreading the sustainability culture means growth.

These commitments have been translated into specific Group targets to be achieved by 2030, aligned with the UN Sustainable Development Goals.

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SUSTAINABILITY REPORT

Integrated Annual Report and 2023 Sustainability Report

The annual report in the “integrated” form as a tool for integrated reporting of financial and non-financial data represents Prysmian's daily commitment to integrating sustainability within its business strategies and its role as an enabler of the energy transition and digitalization process.

In an integrated manner, the Report explains Prysmian's ability to create both financial and non-financial value over time, in the context and markets in which it operates.

 

In addition to the Integrated Annual Report, Prysmian produces the Sustainability Report that focuses on the Group's ESG performance, its ongoing and growing commitment to innovation and on the extraordinary projects involving it in every corner of the world.

The documentation published on sustainability matters also includes:

  • The TCFD Report, dedicated to reporting on the management of climate change risks based on the recommendations of the TCFD (Task-force on Climate-related Financial Disclosures);

 

  • the GHG Statement, dedicated to calculation of the CO2 emissions generated by Prysmian and its entire value chain;

 

  • the SASB Report, providing information in compliance with Sustainability Accounting Standards Board (SASB) framework.
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Chief Sustainability, Investor Relations and Communication Officer

Maria Cristina Bifulco

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