What are the material issues the company has identified?

In its 2021 Sustainability Report Fastweb identified a range of material issues, such as fight against climate change, energy efficiency, privacy and cybersecurity, digital skills for the future. Among these, creating economic value for its stakeholders stands out as a key material issue for Fastweb.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Fastweb engages with:

To identify and prioritise material topics Fastweb engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Employees	·      Vision meeting ·      Communication and ongoing dialogue through Agorà, the company Intranet ·      Periodic conventions (Road Shows, Canvass, etc.) ·      Tools to formulate proposals and ideas or request information (group mailboxes, surveys, etc.) ·      Periodic staff meetings for each function ·      Periodic performance reviews
Customers	·      Internet channels (website, monthly newsletters, MyFastweb) ·      Social Media ·      Forums ·      Net Promoter Score survey ·      Conciliation procedures ·      Alternative dispute resolution portal ·      Cooperation with Consumer Associations
Swisscom Group	·      Meetings of the Board of Directors ·      Annual and periodic management reports ·      Periodic exchange of information between corresponding functions
Suppliers	·      Online Platform ·      Periodic progress and supplier/company unit alignment meetings
Community	·      Ongoing management of partnerships with civil society and charitable organisations for digital, social and local development ·      Websites and social media ·      Monthly and annual company reputation surveys (RepTrack surveys)
Public administration and supervisory authority	·      EWork groups ·      Industry technical workshops ·      Public consultation procedures ·      Contribution in defining new standards and corresponding binding provisions
Media	·      Press releases ·      Press conferences ·      Website ·      Social Media

What actions were taken by Fastweb to create economic value for its stakeholders?

In its 2021 Sustainability Report Fastweb reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2021, Fastweb paid € 1 million in personnel costs.

• Creating economic value for investors
• In 2021, Fastweb paid €8 million in remuneration of loan capital.

• Creating economic value for the public administration
• In 2021, Fastweb paid € -19.6 million in duties and taxes.

• Creating economic value for the community
• In 2021, Fastweb spent € 6 million in the distribution of added value to the community.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

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References:

This case study is based on published information by Fastweb, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.fastweb.it/corporate/azienda-e-sostenibilita/sostenibilita/Fastweb-Report-di-Sostenibilita-2021-en.pdf

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