United Nations Global Compact Statement
How Prysmian Group integrates the UN Global Compact Statement and its principles into the Group’s strategy, culture and day-to-day operations
Prysmian Group adheres to the Global Compact, whose principles and spirit are reflected in the culture, values and practices of the group. Environmental, Social and Governance (ESG) values are deeply embedded in the Group’s DNA, inspiring its strategic priorities and influencing day-by-day behaviors.
As a leading group, Prysmian is supported by its Values, Mission and Vision that guide its operations, are translated into its solutions and products, and fuel the ambitions for its role - as technology enabler for the energy transition and digitalization process - in tomorrow’s world.
Prysmian Group has always adopted a series of tools and policies to guarantee and respect the environment, human rights, workers’ rights, and to support local and vulnerable communities, in order to align with the Ten Principles of the Global Compact. Among these tools are the Sustainability Policy, which provides guidelines for all Group companies and operations, based on the strategic priorities identified in the medium- to long-term business plan and translated into concrete actions. The Group implements these guidelines through a set of rigorous and transparent annual targets aligned with the United Nations’ Sustainable Development Goals and feedback from its stakeholders. These targets are laid out in Prysmian Group’s Sustainability Scorecard as a set of 16 Key and challenging Performance Indicators, that are clear and measurable, against which the company’s progress is monitored annually, in order to ensure a continuous improvement. In addition, the fully integrated ESG approach of the company is cascaded through management’s medium- and long-term remuneration scheme linked to achieving selected sustainability targets.
Prysmian Group's adherence to and compliance with the principles of the Global Compact are also reflected in a common and shared approach to business -- honest, ethical and conforming to all current laws and regulations -- which must be respected by all Group employees wherever they work and live around the world. This approach is defined both in The Code of Ethics, that represents the Group’s “Constitution”, and in the Human Rights Policy. The Code of Ethics is the charter of rights and moral duties that defines the ethical-social responsibilities of Prysmian’s people. A document in line with international standards that helps the Company every day to grow its business, work with colleagues and dedicate particular attention to environmental and social matters. Through the definition of the Human Rights Policy -- which operates within the framework of the United Nations Universal Declaration of Human Rights across all geographical regions -- Prysmian aims to support internationally-recognized human rights standards and regulates violations of those standards.
Prysmian’s people are always at the center of the company’s ESG strategy. Therefore, Prysmian Group is committed to the development of an organization that prioritizes talent, abilities, diverse experiences, different cultural backgrounds, and, in general all forms of diversity: ethnic, race gender, language, age, sexual orientation, marital status, nationality, religion, political orientation, socio-economic status, physical and mental ability, experience, education and professional background. In promoting such a diversified environment, Prysmian wants people to feel respected, appreciated and free to fully express their human potential, which means qualifying diversity and inclusion as one of the main pillars of company culture.
Accordingly, in addition to its Human Rights Policy, the Company is committed to supporting the adoption of its Global Anti-Harassment Policy along its value chain and within the communities in which it is present. In fact, thanks to its truly global presence in more than 50 countries, Prysmian Group participates in the socio-economic development of the communities where it operates, contributing actively to the improvement of the living conditions of the populations.
Prysmian Group’s fully-integrated ESG approach requires the company to “walk the talk” with concrete actions, in all fields in which it operates. Prysmian takes steps to reduce the impact on the environment, and that of its suppliers. It facilitates the use of clean energy by enabling the energy transition and pursues innovations that make all its products and solutions increasingly eco-friendly to help clients meet their climate change targets.
Prysmian Group pursues the efficient and sustainable use of energy and natural resources by reducing consumption and greenhouse gas emissions, while minimizing the generation of waste and promoting the recycling and reuse of materials. In 2020 the Group started to implement an ambitious climate strategy adopting science-based targets, in line with the requirements of the Paris Agreement (COP 21), and endorsing the Business Ambition (1.5°C) with a “net zero” target expected to be achieved between 2035 and 2040 with regard to the emissions generated by its operations (Scope 1 and 2), and by 2050 for emissions generated by the value chain (Scope 3) aligned to a 1.5°C scenario. In fact, the Group has pledged to invest €10 million annually over the next ten years to reduce Scope 1 and Scope 2 emissions at its 104 plants and 25 R&D centers by 46% from the 2019 level.
Prysmian Group will share with the UN Global Compact and all its stakeholders its progress on an annual basis, covering the following key areas: human rights, labor, environment and anti- corruption. This commitment further demonstrates the transparency and rigor of Prysmian Group in achieving and communicating its sustainability goals, in line with the UN SDGs.
The Ten Principles of the UN Global Compact:
- Businesses should support and respect the protection of internationally proclaimed human rights.
- Businesses should make sure that they are not complicit in human rights abuses.
- Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.
- Businesses should uphold the elimination of all forms of forced and compulsory labour.
- Businesses should uphold the effective abolition of child labour.
- Businesses should uphold the elimination of discrimination in respect of employment and occupation.
- Businesses should support a precautionary approach to environmental challenges.
- Businesses should undertake initiatives to promote greater environmental responsibility.
- Businesses should encourage the development and diffusion of environmentally friendly technologies.
- Businesses should work against corruption in all its forms, including extortion and bribery.