5
commitment to accuracy, clarity and transparency in the
communication of its business strategy, objectives and
results. Accordingly, contact with the financial markets
was particularly intense in 2012, with more than 400
one-to-one or group meetings at the Company's offices,
road shows in the major financial centres of Europe, North
America and Asia, as well as participation at various
conferences organised by leading international brokers.
The Group's objective is to achieve a proper balance
between a strategy of investment and the creation of
profit in the short term, and a strategy of creating value
over the medium/long term. This balance is pursued
via a system of transparent governance based on the
recommendations and rules indicated in the "Code of Self-
Regulation for companies listed by Borsa Italiana - ed.
2011".
Looking at
product responsibility
, research, development,
innovation and respect for the environment were, once
again, key drivers for the competitive advantages needed
to meet market expectations, especially with regard to
ethical and sustainability matters. During 2012, Prysmian
progressed numerous innovative projects in relation to
both power and telecom cables, with a view to supplying
end users with efficient and functional products and
solutions that have a low environmental impact.
For example, environmental impact studies have been
carried out in relation to the P-Laser cable using the
Life Cycle Assessment (LCA) approach. These studies,
primarily focused on the composition of the materials
used and their disposal at end of life, highlighted
estimated reductions in CO2 equivalent (-30%) and in
the consumption of fossil resources (-40%) and water
(-70/80%), compared with the production of standard
cablesfor the same use.
With regard to procurement and logistics, the Group
continues to seek solutions that are ever more efficient,
not least in environmental terms. As an example, projects
have been promoted for the re-use of wooden drums
and the management of logistics, continuing the policy
adopted in recent years of prioritising customer service,
with the ultimate objective of improving flexibility,
reliability and time to market.
With regard to
social responsibility
, Prysmian recognises
its commitment to the individuals who work as part of
the organisation, as well as those who form the local
communities in the territories in which the Group is
active. Accordingly, consistent with its values, Prysmian
constantly seeks to ensure the personal and professional
satisfaction of its human resources, and to communicate
with and involve local populations, in order to generate
value for these important categories of stakeholder. This
commitment is confirmed by an internal programme
organised to manage the Group's human resources,
comprising almost 20 thousand individuals worldwide.
The personnel development programme established
during 2012 involves four main initiatives: Graduate
Program, an international programme for the recruitment
and induction of outstanding new graduates, Prysmian
Group Academy, a management and professional training
and education school established in partnership with SDA
Bocconi, Talent and Succession Management to improve
the management of key personnel, and Performance
Management, a programme for the gradual introduction
of performance appraisals. With reference to the needs
of the local communities in which the Group is active, the
various activities promoted during the year included an
agreement to work with "Save the Children" on a project
to help lower maternal, new-born and infant mortality in
Ethiopia, as well as support for associations and non-
profit foundations that has included the donation of
cables.
The
environmental responsibility
of the Group was also
confirmed by the concrete actions taken in 2012. These
