‘Saipem Sustainability’ was established in order to provide complete, detailed information about the matters of greatest interest to the Company’s stakeholders. The following principles have been used to identify the contents of the document: materiality, stakeholder inclusiveness, sustainability context and completeness, as set out in Global Reporting Initiative (GRI) guideline version 3.1. To guarantee the quality of the information contained in the report, the principles of balance, comparability, accuracy, timeliness, clarity and reliability were followed, again as per GRI guidelines.
The report is published annually and it is approved by the Board of Directors. It is distributed at the Shareholders’ Meeting convened to approve the Annual Report.
In order to define the sustainability themes considered most significant, both within the Company and in relation to stakeholders, a materiality analysis was once again carried out in 2013, hence for the third year running.
The first step entailed identifying the significant aspects which are considered in the analysis in order to pinpoint those that are material. The identification is based on the sustainability context and on the analysis of the stakeholders involved. In order to simplify analysis and comparison of results, the 23 topics identified were broken down into 8 macro categories.
|Local Content||Local Employment, Local Supply Chain.
Local community Engagement, Initiatives for Local Communities.
|Corporate Governance||Governance of Sustainability, Sustainability-linked remuneration.
Approach on Ethics, Human Rights and Labour Conditions.
Energy, Water, Spills, Biodiversity, Waste.
|Climate Change||Approach to Climate Change, Emissions, Renewable Energy Sources.
Safety, Contractor Management, Asset Integrity & Emergency Management.
Diversity, Labour Relations, Training and Development.
|Health & Safety|
The level of internal significance was set by the Sustainability Committee, with due regard for the Company’s principles and values, its business strategy and objectives, as well as the skills and distinctive factors for which it stands out in its market segment.
The level of external interest was surveyed by combining
- a sustainability benchmarking analysis of 18 of Saipem’s main Clients with
- the results of the requests and interests that various stakeholders submitted to Saipem over the course of the reporting year and
- the results of a frequency and relevance analysis with which the topics dealt with appear in the questionnaires of financial analysts and rating agencies.
The materiality of topics is determined by the nexus of internal and external significance. For the first time, the results of this analysis were submitted to a panel of external experts in order to obtain preliminary feedback before the Sustainability Report was drafted.
Selection of the activities and programmes that would be reported in detail in relation to themes identified as ‘material’ was carried out with due consideration for the sustainability context, assigning greater weight to those issues and geographical areas in which the Company has a more significant impact.
Materiality analysis results and report content
The most significant themes, which are Health & Safety, Local Content, Local Communities, HR Management, Business Ethics and Environment, form the basis of the present document in order to provide qualitative and quantitative information on the Company’s sustainability performance.
Selection of the activities and programmes to be reported in detail in relation to themes identified as ‘material’ was carried out with due regard for the sustainability context in which Saipem operates.
Greater weight was assigned to those issues and geographical areas in which the Company has a more significant impact. Where possible, the project performance indicators reported were contextualised with reference to detailed information on local conditions.
The reporting boundary
In order to facilitate reader comprehension of performance trends over time, Saipem Sustainability contains information on, and a description of, the sustainability initiatives and the performance indicators of Saipem SpA and all of its subsidiaries, including any companies involved in joint ventures with it, for the period 2011-2013.
As regards financial data, in accordance with the criteria adopted for the drafting of the Annual Report, the reporting scope also includes, on a line-by-line proportional basis, the data of subsidiaries and companies managed under joint operating agreements.
For HSE data, non-operating entities and subsidiaries that do not produce significant effects are not included in the reporting scope. In some cases, HSE indicators considered to be of particular importance for the business of the Company, for subcontractors and/or for vendors working on Company projects are encompassed.
For different kinds of data, the operational criterion is adopted, which is to say that the Saipem Group reports 100% of operations in which Saipem SpA or one of its subsidiaries exercises operational control.
Exceptions to the above criteria are expressly indicated in the text, as are any changes made to the indicator calculation methodologies, without this in any way affecting the general commitment to maintain consistency in information and data reported.
To assure the reliability of the information provided and to improve the reporting process, ‘Saipem Sustainability 2013’ is subject to limited assurance by the same external independent auditor used for the Consolidated Financial Statements and for ‘Sustainability Performance 2013’ (the Addendum included in the Saipem Group’s Annual Report).