Prysmian Group improves its sustainability performance in 2018

categories: Corporate  Sustainability 

In some cases, the group has already reached or exceeded its 2020 goals

Milan, Italy   -   17/05/2019 - 02:00 AM

Prysmian Group continued to make progress on achieving its 2020 sustainability goals last year, according to its 2018 Sustainability Report, which for the second year was published as a Consolidated Disclosure of Non Financial Information and was approved by the board of directors on April 17.

The Report looks at environmental, social and staff-related issues as well as respect for human rights and the fight against bribery and corruption. Plans are under way to extend these goals across the new organizational structure put in place following the merger with General Cable.

In some cases, Prysmian has already reached or exceeded its own 2020 sustainability goals. For example, it improved its percentage of waste recycled in 2018 to 66% of the total from 50% in 2017 – ahead of the 40% target set for 2020.

It also improved its performance in terms of product families covered by the calculation of CO2 emissions (to 60% in 2018 compared to 5% in 2017) and increased the percentage of recyclable products purchased annually to support the circular economy to 86% from 80%.

Human and social resources were another area of improvement in 2018. Key positions covered through internal promotions rose to 90% from above 80% the year before, reaching the 2020 target of 80% in advance. The percentage of women in executive positions rose to 10.8% from 6.4% in 2017 – an improvement of 69%.

These above mentioned figures do not take General Cable into account in terms of perimeter. This positive performance helped the group maintain in or improve its ranking in the main international sustainability assessment indices, such as  the Dow Jones Sustainability Index and the Carbon Disclosure Project.

Including General Cable, the Prysmian Group’s economic value generated was EUR10.24 billion. Investments totaled EUR285 million and were focused mainly on high tech and high added value businesses such as optical fiber and cables, and submarine cables for power transmission. The group spent EUR105 million on research and development through around 50 partnerships with universities and international research institutes.

Lastly, the Prysmian Group continued to work with organizations that help develop local communities through the donation of cables. Last year it supported international NGO Electriciens sans frontieres in Angola to solve a serious energy shortage in a local hospital. In Palermo, Italy, it helped secure a power supply for a homeless shelter for around 100 people.

Sustainability is an important asset to Prysmian Group, and management will continue working to achieve its 2020 goals this year.  The Group changed its perimeters in June 2018 and is updating the Sustainability Scorecard to include General Cable and to further adapt any relevant indicators.