What are the material issues the company has identified?

In its 2020 Sustainability Report the Italmobiliare Group identified a range of material issues, such as governance and integrity, market and communities, responsible investments, health, safety and wellbeing. Among these, creating economic value for its stakeholders stands out as a key material issue for CNH Industrial.

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 the Italmobiliare Group engages with:

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

Stakeholder Group	Method of engagement
Personnel: employees and their representatives	·      Continuous manager/team dialogue ·      Safety initiatives ·      Thematic events ·      Industrial relations
Management: holding company and portfolio companies	·      Continuous management
Financial community: investors, analysts, shareholders, capital providers, rating agencies	·      Dedicated meetings ·      Road shows ·      Corporate and web documents
Customers: B2B, B2C and end-users	·      Fairs ·      Forums and sector events ·      Direct individual contacts ·      Customer satisfaction and quality
Supply chain: suppliers of goods and services	·      Strategic partnerships ·      Supply chain management ·      Direct individual contacts ·      Qualification audits
Communities, media and NGOs: local and global	·      Interviews ·      Conferences ·      Dialogue with the community ·      Social initiatives
Associations: partnership and academia	·      Meetings ·      Conferences ·      Shared initiatives ·      Partnerships ·      Research
Authorities and institutions	·      Individual or collective interactions (e.g. meetings, conferences, events)

What actions were taken by the Italmobiliare Group to create economic value for its stakeholders?

In its 2020 Sustainability Report the Italmobiliare Group reports that it took the following actions creating economic value for its stakeholders:

• Creating economic value for employees
• In 2020, the Italmobiliare Group paid 111.6 million euros for salaries and staff benefits.

• Creating economic value for suppliers
• In 2020, the Italmobiliare Group paid 372.3 million euros to suppliers.

• Creating economic value for shareholders
• In 2020, the Italmobiliare Group paid 62.6 million euros in dividends and interests.

• Creating economic value for capital providers
• In 2020, the Italmobiliare Group paid 5.8 million euros to capital providers.

• Creating economic value for communities
• In 2020, the Italmobiliare Group spent 2.3 million euros in social investments.

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

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References:

This case study is based on published information by the Italmobiliare Group, 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.italmobiliare.it/sites/default/files/documenti/2021-03/DNF%202020-eng.pdf

Note to the Italmobiliare Group: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.