Prysmian Group accelerates Commitment to Sustainability by Adopting Social Targets Alongside Climate Change Ambitions in Push to Reach Net-Zero Carbon Emission Between 2035 and 2040

Categories: Corporate

New Targets Focus on Key Areas Including Diversity, Equity and Inclusion; Digital Inclusion; Supporting and Measuring Impacts on Local Communities; Employee Engagement and Upskilling

Milan - Highland Heights   -   07/20/2021

Prysmian Group, the world’s leading energy and telecom cable systems provider, today confirmed its ambition to be a global sustainability leader with the announcement of new Social Ambition targets to sit alongside its existing Climate Ambition targets.

The main areas of focus for the Group’s new Social Ambition 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.

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 the communities and societies in which we operate. In partnership with our stakeholders, the pledges we are announcing today are not only aligned with our own values but with international best practice.”

Prysmian's Social Ambition complements its Climate Change Ambition, which aims to make Prysmian one of the leading technological players 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). Full details of the targets and sustainability plan are available on the Group website at https://www.prysmiangroup.com/en/sustainability

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 €450 million by 2022 (over 50% of total investments), which are also intended to further improve the sustainability of its organisation and supply chain. 48% of Prysmian’s sales are already attributable to business segments and products that contribute to the emergence of a low-carbon economy.

Fully utilizing the global expertise of its people is an integral part of Prysmian’s long-term sustainability strategy. Prysmian is proactively developing as an organization which recognizes the need for diversity, inclusion and gender equality at all levels. The Group is also promoting programmes to expand the digital inclusion of all its employees, while eliminating discrimination by role or position.

Prysmian Group has adopted the Women's Empowerment Principles and promotes gender equality across the business. The Group continues to improve work-life balance to open 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.

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