Prysmian Group Focuses on Energy Transition
New three-year sustainability targets set. Commitment to environmental impact reduction, sustainable technological innovation, diversity & inclusion and impact on communities
Sustainability integration in business and in short and long-term remuneration
Prysmian Group, world leader in the energy and telecom cables systems industry, approved its 2019 Disclosure of Non-Financial Information and set the new mid-term sustainability targets for 2022, in line with the UN Sustainable Development Goals.
“Sustainable Impact on Planet, People and Profit is part of Prysmian Group’s DNA,” stated CEO Valerio Battista. “As a Public Company, it is really fundamental to align the interests of all our Stakeholders. In addition, energy transition is our core business and main driver for growth. Innovation, product development and competitiveness have always been at the core of our strategy: we maintain an annual investment of over €100 million a year in research and development.”
Prysmian is constantly reinforcing its range of technologies in support of energy transition and commits to increase the percentage of its sales from low carbon products to 50% by 2022. Submarine and underground cable systems for power transmission and distribution, cables for renewable energy applications and fibre optic cables are of strategic importance to the energy transition and a decarbonised economy. Prysmian Group was recently included by Morgan Stanley in the list of 30 global companies leading the energy transition, which will see investments of over €114 billion by 2030.
Prysmian’s commits as well to the decarbonisation and to the circular economy from its production and processes, with a pledge for 2022 to decrease its CO2 emissions by 2-3% and its energy consumption by 3%, while raising the percentage of its waste recycled to 66%. Beyond Planet, People has constantly been a focal point and the business continuity achieved during the Covid-19 crisis by our People, who is feeling protected and supported by exceptional prevention measures, has been a great reward to the Company.
Prysmian commits as well to increasing the percentage of women in executive positions to 18% and female white-collar employees to 40% (Side by Side project), while also increasing the indices which measure the employees’ participation to corporate life and promoting a culture of maximum attention to safety in working environments.
Prysmian Group has launched a new remuneration policy that ties the disbursement of bonuses to the achievement of short and long-term sustainability objectives in order to truly integrate environmental, social and governance (ESG) issues into its business strategies.
The Group has also created a new Sustainability Committee within the Board of Directors. The Committee’s Chair is Board Member Monica de Virgiliis, and the other members are Mimi Kung and Maria Letizia Mariani.
The Board of Directors also approved the Sustainability Report — 2019 Disclosure of Non-Financial Information. Total economic value generated amounted to €11,653 million. From an environmental perspective, CO2 emissions amounted to approx. 890,000 tons and energy consumption to approx. 10,000,000 GJ. 33% of employee shareholders participate in the YES programme.