With the aim of constantly improving the sustainability of its business activities and related communications to stakeholders, in 2022 Prysmian defined a new governance model that clarifies the role and responsibilities of all players:
Sustainability Governance
Sustainability Governance
1. The Chief Sustainability Officer and the Sustainability function are responsible for:
- leading the creation of the ESG Strategy, defining targets and setting priorities by identifying and monitoring material impacts, risks and opportunities of the Group;
- supporting the Regions and Business Units in the implementation of actions and initiatives aimed at achieving the Group's sustainability targets;
- managing Sustainability Indices;
- guaranteeing the execution of Stakeholder Engagement activities;
- leading the internal Sustainability Committee and the Network of Local Sustainability Ambassadors;
- acting as Secretary of the Sustainability Committee;
- supporting the Administration, Finance and Control Department in the preparation of the Integrated Report;
- supervising the definition of the content of the Sustainability Report.
2. The Group Planning and Control and Group Administration functions, entrusted to the Managers responsible for the preparation of the financial statements with responsibility for:
- monitoring the performance of ESG KPIs;
- coordinating the collection of non-financial quantitative data;
- drawing up the Integrated Report;
- verifying the accuracy and quality of data.
3. The Communications Division has the following responsibilities:
- developing communication campaigns focused on ESG issues;
- collaborating with the Sustainability function to organize Stakeholder Engagement events.
4. The Sustainability Committee is composed of three non-executive independent directors and is responsible for:
- promoting guidelines for consideration by the Board of Directors that integrate sustainability within the various business processes, in order to ensure the creation of sustainable value over time for shareholders and all other stakeholders;
- spreading the culture of sustainability among employees, shareholders, customers and, in general, stakeholders;
- assessing the environmental, economic and social impacts deriving from business activities;
- providing opinions on the annual and long-term sustainability targets to be achieved with specific reference to the management of associated medium- and long-term risks for the Company and its subsidiaries, so that they are correctly identified and appropriately measured, managed and monitored;
- monitoring the Company’s position in the main sustainability indices;
- expressing opinions on the initiatives and programs promoted by the Company or by subsidiaries on Corporate Social Responsibility (CSR) matters;
- reviewing Sustainability reporting prior to Board of Directors meetings;
- preparing, upon request from the Board of Directors, opinions and proposals concerning specific CSR matters.
5. The internal Sustainability Steering Committee, headed by the Chief Sustainability Officer and composed of representatives from the various corporate functions, is responsible for:
- developing objectives and targets and submitting them to the Group Leadership Team;
- supporting the Chief Sustainability Officer in identifying and monitoring material impacts, risks and opportunities;
- proposing actions to be implemented at the level of Regions, BUs and functions;
- monitoring and following up sustainability-related KPIs and outcomes.
6. The Local Sustainability Ambassador Network established to promote local and global sustainability culture, initiatives and ESG actions at regional level through a cascade model.