Prysmian Group Archives - SustainCase - Sustainability Magazine Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Mon, 06 Mar 2023 10:08:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How the Prysmian Group promotes sustainability across its supply chain https://sustaincase.com/case-study-how-the-prysmian-group-promotes-sustainability-across-its-supply-chain/ Wed, 27 Apr 2022 06:02:59 +0000 https://ccprowebs.com/new-sustaincase.com/?p=13515 With sales in excess of Euro 11.5 billion, approximately 29,000 employees and 106 plants in more than 50 countries worldwide, the Prysmian Group has a consolidated presence in technologically advanced markets globally, providing its customers with superior cable solutions based on state-of-the-art technology. This case study is based on the 2019 Sustainability Report by the Prysmian Group published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the […]

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]]> With sales in excess of Euro 11.5 billion, approximately 29,000 employees and 106 plants in more than 50 countries worldwide, the Prysmian Group has a consolidated presence in technologically advanced markets globally, providing its customers with superior cable solutions based on state-of-the-art technology. Promoting sustainable business practices between its suppliers and business partners, is a top priority for the Prysmian Group.  Tweet This!

This case study is based on the 2019 Sustainability Report by the Prysmian Group published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

The Prysmian Group has adopted guidelines and policies that its suppliers are required to comply with and accept (for example, the Code of Ethics and the Code of Business Conduct), so as to effectively promote sustainability principles among them. In order to promote sustainability across its supply chain the Prysmian Group took action to:

  • implement a Code of Business Conduct
  • apply a Conflict Minerals Policy
  • audit suppliers

What are the material issues the company has identified? 

In its 2019 Sustainability Report the Prysmian Group identified a range of material issues, such as attracting talent and developing human capital, solutions for sustainable applications, energy efficiency and combating climate change, cyber security and data protection, occupational health and safety, waste management and recycling. Among these, promoting sustainability across its supply chain stands out as a key material issue for the Prysmian Group.

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 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 Prysmian Group engages with:

Stakeholder Group
Employees
Customers and Business Partners
Institutions and Governments
Universities and Research Centres
Suppliers and sub-contractors
Shareholders and Financial institutions
Society and Communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics the Prysmian Group engaged with its stakeholders through a multi-stakeholder event which involved stakeholders from all over Europe, attended by approximately 70 stakeholders, and also conducted a survey of key external stakeholders (customers, suppliers, universities and research centres, investors and trade unions), to reach a larger number and obtain additional feedback.

What actions were taken by the Prysmian Group to promote sustainability across its supply chain?

In its 2019 Sustainability Report the Prysmian Group reports that it took the following actions for promoting sustainability across its supply chain:

  • Implementing a Code of Business Conduct
  • With a view to ensuring that ethical, economic, environmental and social standards are met throughout the value chain, in 2014 the Prysmian Group decided to promote a responsible and sustainable chain of supply by adopting a Code of Business Conduct. This Code took effect in 2015 and applies to all employees and business relations. The principles set down in the Code apply to the business transactions and daily activities of the employees of all Group entities and their suppliers, commercial partners, commercial agents, sub-contractors and distributors. The document covers the following topics:
    • business integrity (fair trade, conflicts of interest, gifts and offers of entertainment, corruption, accountability);
    • human rights and workers’ rights (under-age working and slavery, occupational health and safety, non-discrimination, freedom of association and collective bargaining);
    • environment (principle of precaution, use of raw materials and compliance, energy consumption, greenhouse gases and other emissions, use of water, production of waste and recycling).
  • Prysmian’s application of the related guidelines is highlighted to suppliers at the scouting and qualification stages. In addition, the Group’s Human Rights Policy was extended by adding a specific chapter on the monitoring and identification of potential breaches in the supply chain, with remedial action and, if necessary, the exclusion from all commercial and business relations of suppliers that do not respond promptly to the standards required.
  • Applying a Conflict Minerals Policy
  • From 2017, the Prysmian Group applies a Conflict Minerals Policy, with the aim of guaranteeing its customers a “Conflict Minerals free” supply chain through the following activities:
    • identification of purchased materials/semi-finished products containing 3TG (tin, tungsten, tantalum and gold from the Democratic Republic of Congo or neighbouring countries);
    • request to all regular suppliers regarding the sourcing of minerals used in their production processes (through formats and international standards);
    • analysis of information received and implementation of corrective actions.
  • Auditing suppliers
  • In order to monitor the sustainability of its supply chain and reduce possible negative impacts, the Prysmian Group also analyses, on a centralised and integrated basis, all risks and opportunities associated with its supply chain, focusing on the risks deemed most critical by the Group. During 2019, the Prysmian Group finalised an internal Supply Chain Strategy document that governs the entire supply chain of the materials needed. The process involved envisages:
    • A risk analysis by supplier for a large percentage of expenditure (the Group covered 63% of total expenditure in 2019) using the Desk Analysis & Risk Analysis tool. The Desk Analysis carried out in 2019 with regard to the Group’s strategic suppliers of base metals and raw materials covered three areas in particular: management systems governing ethical sustainability and integrity, the environment, and human rights and workers’ rights.
    • Identification of potentially high-risk suppliers with regard to sustainability factors, weighted using the following matrix: Importance (Expenditure and Business Impact) and Availability (Single Source and Geographical Location).
    • Selection of suppliers identified by the risk analysis as “Potentially high risk” for Sustainability Audits (carried out by an external provider).
    • Analysis of the audit results and, if negative, activation of improvement actions.
  • In this regard, 8 supplier audits were carried out during 2019 and, from 2017 to date, 15 sustainability audits have been carried out. Following the audits, the Prysmian Group works with the suppliers to determine the action plan needed, if applicable, in order to implement remedial actions.

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

The GRI Standards addressed in this case are:

1) Disclosure 308-2 Negative environmental impacts in the supply chain and actions taken

2) Disclosure 414-2 Negative social impacts in the supply chain and actions taken

 

Disclosure 308-2 Negative environmental impacts in the supply chain and actions taken does not correspond to any SDG.

Disclosure 414-2 Negative social impacts in the supply chain and actions taken corresponds to:

 

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.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

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References:

1) This case study is based on published information by the Prysmian 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to the Prysmian 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.

The post Case study: How the Prysmian Group promotes sustainability across its supply chain appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How the Prysmian Group combats corruption https://sustaincase.com/case-study-how-the-prysmian-group-combats-corruption/ Mon, 20 Jul 2020 07:00:56 +0000 https://ccprowebs.com/new-sustaincase.com/?p=11060 With sales in excess of Euro 11.5 billion, approximately 29,000 employees and 106 plants in more than 50 countries worldwide, the Prysmian Group is a world leader in the supply of power and telecom cables, committed to a business management model based on the most stringent standards of business ethics and integrity – especially with regard to the measures adopted to prevent both active and passive corruption. This case study is based on the 2019 Sustainability Report by the Prysmian Group published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies […]

The post Case study: How the Prysmian Group combats corruption appeared first on SustainCase - Sustainability Magazine.

]]> With sales in excess of Euro 11.5 billion, approximately 29,000 employees and 106 plants in more than 50 countries worldwide, the Prysmian Group is a world leader in the supply of power and telecom cables, committed to a business management model based on the most stringent standards of business ethics and integrity – especially with regard to the measures adopted to prevent both active and passive corruption.

This case study is based on the 2019 Sustainability Report by the Prysmian Group published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

The Prysmian Group implements a series of actions aimed at managing corruption issues on a preventive basis  Tweet This!, including the adoption of an Anti-Corruption Policy. In order to combat corruption the Prysmian Group took action to:

  • implement the “Third Party Program”
  • provide anti-corruption training
  • launch an Anti-Bribery Compliance Programme
  • review compliance policies

What are the material issues the company has identified?

In its 2019 Sustainability Report the Prysmian Group identified a range of material issues, such as respect for human rights and workers’ rights, solutions for sustainable applications, energy efficiency and combating climate change, technological development and eco-design innovation, occupational health and safety. Among these, combatting corruption stands out as a key material issue for the Prysmian Group.

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 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 Prysmian Group engages with:

Stakeholder Group
Employees
Customers and Business Partners
Institutions and Governments
Universities and Research Centres
Suppliers and sub-contractors
Shareholders and Financial institutions
Society and Communities

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics the Prysmian Group engaged with its stakeholders through a multi-stakeholder event involving stakeholders from all over Europe, attended by approximately 70 stakeholders, and also carried out a survey of key external stakeholders (customers, suppliers, universities and research centres, investors and trade unions) in order to reach a larger number and obtain additional feedback.


What actions were taken by the Prysmian Group to combat corruption?

In its 2019 Sustainability Report the Prysmian Group reports that it took the following actions for combatting corruption:

  • Implementing the “Third Party Program”
  • Prysmian Group’s “Third Party Program” is intended to prevent and manage the risk of corruption deriving from relations with third parties (such as agents, distributors and certain categories of supplier). In particular, before establishing business relations with any third party, it is necessary to carry out due diligence in relation to that party using a dedicated on-line platform. As a result of the above activity, a level of risk (high, medium, low) is assigned to each third party that, consequently, is subjected to an approval procedure responsive to the identified risks. Additionally, the due diligence work must be repeated every 1, 3 or 5 years, depending on the level of risk identified. Further, the Code of Ethics adopted by the Group (which includes the anti-corruption clause) is accepted and signed by all contractors, suppliers and agents and, with the introduction of the new Third Party Program, all new agents, distributors and 15 categories of suppliers must also sign the anti-corruption certificate.
  • Providing anti-corruption training
  • In 2019, the Prysmian Group trained around 100 white-collar employees in compliance and anti-corruption matters through on-line courses, while 1,024 were trained in classroom sessions (classroom sessions include both Anti-Corruption and Anti-Trust modules). Training in how to use the new platform to carry out due diligence work on third parties was also carried out by the Prysmian Group, with 1,463 white-collar employees trained in classroom sessions and conference calls during 2019.
  • Launching an Anti-Bribery Compliance Programme
  • In 2017, the Prysmian Group, in line with the objectives set in 2016, decided to further strengthen the monitoring and central focus on compliance issues by launching an Anti-Bribery Compliance Programme inspired by the guidelines set by the ISO 37001: 2016 “Anti-bribery management systems”. This programme, in addition to giving greater control over the management of the risk of corruption, is also aimed at minimising the risk of being subject to sanctions following the commission of corruptive offences by employees or third parties. In the three-year period 2017-2019, there were no cases of corruption within the Prysmian Group.
  • Reviewing compliance policies
  • The compliance policies of Prysmian and General Cable were reviewed, updated and merged in 2019, in order to create documentation valid for the entire Group. With specific reference to the anti-corruption programme, the relevant policy was revised together with that covering gifts and entertainment expenses. The anti-corruption policy now provides further clarification about the requirements to be met with regard to high-risk transactions, such as donations, sponsorships, governmental interactions/projects, business relations with high-risk third parties (e.g. agents, consultants), gifts and entertaining expenses related to the Public Administration. In addition, a new conflicts of interest policy was issued in 2019, consistent with the Group’s constant commitment to making sure that the financial and personal interests of employees and consultants do not conflict with their ability to perform their duties with professionalism, ethics and transparency. The new policy, approved by the Board of Directors on 12 November 2019, requires all employees and consultants to disclose all potential conflicts of interest, which will then be appropriately analysed and assessed in order to agree any corrective actions needed to mitigate or eliminate the conflict. The new policies (Code of Ethics, Global Compliance, Helpline, Anti-Corruption, Gifts & Entertainment, Third-Party Program, Antitrust, Antitrust EU, Conflicts of Interest, Export Control) have been published on the corporate intranet and are available in the official languages of the Prysmian Group.

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

The GRI Standards addressed in this case are:

1) Disclosure 205-2 Communication and training about anti-corruption policies and procedures

2) Disclosure 205-3 Confirmed incidents of corruption and actions taken

 

Disclosure 205-2 Communication and training about anti-corruption policies and procedures corresponds to:

  • Sustainable Development Goal (SDG) 16: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
  • Business theme: Anti-corruption 

Disclosure 205-3 Confirmed incidents of corruption and actions taken corresponds to:

  • Sustainable Development Goal (SDG) 16: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
  • Business theme: Anti-corruption

 

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.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

 

 

FBRH GRI Standards Certified & ISEP recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified & ISEP recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

 

References:

1) This case study is based on published information by the Prysmian 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to the Prysmian 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.

The post Case study: How the Prysmian Group combats corruption appeared first on SustainCase - Sustainability Magazine.

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