Prysmian Group speeds up sustainability commitment
Prysmian Group has announced its new social ambition targets to sit alongside its existing climate ambition targets.
The main areas of focus include commitments to improving diversity, equity and inclusion (DE&I); digital inclusion; empowerment of communities; and employee engagement and upskilling. New 2030 targets support delivery of Prysmian’s social ambition objectives and further align the group with the United Nations Sustainable Development Goals.
The new commitment complements the climate change ambition, which aims to help the company lead in the transition to low carbon energy. Its climate strategy adopts science-based targets aligned with the requirements of the Paris Agreement, that sets a net zero target achieved between 2035 and 2040 for the emissions generated by its operations (Scope 1 and 2) and for value chain emissions by 2050 (Scope 3).
With the goal of supporting the expected acceleration of the development of new submarine and underground power interconnections (chiefly links to and interconnections of offshore wind farms), the Group has planned investments in the range of €450m by 2022 (over 50 per cent of total investments), which are also intended to further improve the sustainability of its organisation and supply chain. 48 per cent of Prysmian’s sales are already attributable to business segments and products that contribute to the emergence of a low-carbon economy.
Using the expertise of its people is an integral part of the company’s long-term sustainability strategy, and it recognises the need for diversity, inclusion and gender equality at all levels.
In light of this, Prysmian has adopted the Women's Empowerment Principles and promotes gender equality across the business. It will also continue to improve work-life balance to open up new career opportunities, especially for women. Other measures include childcare and the return guarantee after parental leave as well as flexible working-time models and part-time work, including for managers.
Valerio Battista, CEO of Prysmian Group, said: ‘At Prysmian we are committed to promoting the development of our employees, and making a positive impact on local communities across our global markets and to be courageous in addressing the economic, societal and environmental challenges which they face. The launch of our Social Ambition targets confirms and further strengthens Prysmian’s commitment to bold and necessary action.’
Chief sustainability officer Maria Cristina Bifulco said: ‘Just as we want to play an active role in the energy transition, we want to actively promote the transition towards a more equal, diverse, inclusive and enriched working environment and to positively impact on the development of the communities and societies in which we operate. Our investors are increasingly focused on the social aspect of ESG sustainability. Combined with the governance commitments we announced with formation of our new Board in March, the pledges we are announcing today are not only aligned with our own values but with international best practice and the requirements of ESG focused investors.’