Italian cabling company Prysmian Group has set new mid-term sustainability targets for 2022, in line with the UN Sustainable Development Goals.
The company said that it is constantly reinforcing its range of technologies in support of the energy transition and commits to increase the percentage of its sales from low carbon products to 50% by 2022.
Prysmian also commits to decarbonisation and to the circular economy from its production and processes, with a pledge for 2022 to decrease its CO2 emissions by 2-3% and its energy consumption by 3%, while raising the percentage of its waste recycled to 66%.
It will also increase the percentage of women in executive positions to 18% and female white-collar employees to 40%.
The company will increase the indices that measure employees’ participation to corporate life and promote a culture of maximum attention to safety in working environments.
Prysmian Group chief executive Valerio Battista said: “As a public company, it is really fundamental to align the interests of all our stakeholders.
“In addition, energy transition is our core business and main driver for growth. Innovation, product development and competitiveness have always been at the core of our strategy: we maintain an annual investment of over €100m a year in research and development.”
Prysmian has also launched a new remuneration policy that ties the disbursement of bonuses to the achievement of short and long-term sustainability objectives in order to integrate environmental, social and governance (ESG) issues into its business strategies.
A new Sustainability Committee has been created within the board of directors.
The committee’s chair is board member Monica de Virgiliis, and the other members are Mimi Kung and Maria Letizia Mariani.
The board has approved the Sustainability Report — 2019 Disclosure of Non-Financial Information.
Total economic value generated amounted to €11,653m. Total CO2 emissions amounted to about 890,000 tonnes and energy consumption to approximately 10,000,000 giga-joules.