To define which sustainability topics are considered material, Ansaldo STS has conducted a new materiality analysis. These topics were updated to take into consideration the content of Italian Legislative Decree no. 254/16 and the GRI Sustainability Reporting Standards published in 2016 by the GRI - Global Reporting Initiative, also considering internal factors such as mission, values, risk assessment activities, Quality, Safety and Environmental Management Systems, climate change strategies and research and development activities into increasingly safe and environmentally friendly products and solutions.
The external analysis was characterised by the broad engagement of different groups of stakeholders: 34 suppliers, 13 civil society players, 13 customers, 11 banks and insurance companies, 3 business partners and 8 financial analysts, totalling 82 stakeholders overall. Ansaldo STS asked these stakeholders to assign a priority level to the different issues, taking into account the activities carried out by the Company, in order to understand to what extent they could influence their judgement and decisions.
The internal analysis, carried out by the Sustainability Committee, assessed the level of materiality of the various issues in relation to the Company's performance and the possibility of improving its reputation and competitive advantage, taking into account the related risks.
The overall level of materiality originates from the intersection of the internal and external analyses and is shown in the following matrix.
ENVIRONMENTAL ASPECTS SOCIAL ASPECTS ECONOMIC AND GOVERNANCE ASPECTS
ECONOMIC AND GOVERNANCE ASPECTS
Economic and governance topics exert a significant influence both in terms of stakeholders’ opinions and the impact on the Company’s performance. Customer satisfaction and anti-corruption were considered as the most relevant topics both internally and externally, while the creation and distribution of economic value, stakeholder engagement and sustainability governance were deemed to have a greater impact on business performance.
Social topics have a medium to high influence on stakeholders’ opinions and business performance. Health and safety, training and development, employee welfare, diversity and equal opportunities and ethical management of supplies are of equal significance internally and externally; social innovation and dialogue with trade unions are considered as internal strategic levers, while respect for human rights and the development programmes for local communities were more relevant to stakeholders.
Environmental topics exert a medium influence over stakeholders and the business. This is mainly due to the fact that the types of business carried out by Ansaldo STS and its sector are considered to be of low impact in environmental terms; at an internal level, the Company is aware of the high levels of care required to manage these aspects.