Sustainability Report 2021
Analysis of materiality
The analysis of materiality is the main reference established by the GRI standards for drawing up the Sustainability Reports. Materiality refers to the threshold when issues become important enough to be reported, since they influence the organization and its stakeholders in decision making, along with actions and performance.
The process of material themes definition is divided into three points:
- Priority themes identification for the company and its stakeholders.
- Assignment of a specific relevance quantified thanks to a numerical index ranging from 1 to 5 (whereas 1 equals no relevance - and 5 very high relevance).
- Identification of the themes reaching, at least, a score of 3 (“materiality threshold”) on the reference scale. To be precise, they are considered material issues for the company and, therefore, PSC shall be committed to implementing concrete and coherent initiatives. The correlation between PSC issues and those of GRI standards is highlighted in GRI Content Index report.
PSC material issues and their definitions are detailed in the following pages. In 2021 there were no significant changes on such issues, compared to the previous year.
In order to make their consultation easier, as well as their tools management more effective, the material thems have been grouped into three macro-themes:
- Generated value
- Workers
- Natural resources and the environment
| Macro-theme | Material themes | Theme definition |
|---|---|---|
Generated Value
|
Risk management | Operate according to risks and opportunities in the economic, social and environmental field, for PSC operability and image. |
| Research, development and technological innovation | Research and technological innovation as strategic factors to increase our products competitiveness, in line with a sustainable development and mobility | |
| Relationships with customer (business partner) | Relate to our customers, in the role of main business partners, acknowledging value to cooperation, synergies and social responsible behavior, in order to achieve higher levels of knowledge and greater quality and to build a lasting relationship with mutual satisfaction. | |
| Compliance | Guarantee compliance with mandatory or voluntary regulations through the employees endorsement and thanks to appropriate organizational and management models, as well as to achieve performance and sustainable targets, which can be assessed and certified. | |
| Responsible management of the supply chain | Involvement of the supply chain by sharing the principles, policies and tools for the sustainability and social responsibility. | |
| Local communities | Attention and comparison with the local community expectations, through an open, transparent and constructive dialogue. |
| Macro-theme | Material themes | Theme definition |
|---|---|---|
Workers |
Well-being of employees | Consider employees as a fundamental element of the company's value, and guarantee their well-being through some training appropriate for the development of individual skills, an organization and environment that will foster our commitment for quality along with personal and professional satisfaction achievement. |
| Health and safety at work | Guarantee processes safety and workers’ health protection throughout all procurement and production stages. | |
| Equal opportunities and diversity | Enhance personal and cultural diversities of partners, suppliers and customers, avoiding discrimination and facilitating aggregation. |
| Macro-theme | Material themes | Theme definition |
|---|---|---|
Natural resources and environment |
Energy consumption | Responsible use of energy resources achieved, when possible, by technologies and energy saving activities along with renewable resources option. |
| Emissions in the atmosphere | Carry out operations, by taking the opportunities to prevent and mitigate emissions in the atmosphere, by protecting air quality and contrasting climate change. | |
| Waste management | Apply, when possible, the most effective practices for reduction, through prevention, and waste recycling. | |
| Water resource protection | Responsible use of water thanks to technologies and policy aimed at reducing its quality, when taking it, and preserving the original quality. |
This Sustainability Report reflects the analysis of materiality carried out by PSC and in each section the points concerning the three macro-themes are described in details. This approach allows a more flexible consultation of information and well represents our approach to sustainability, according to a model, which ranges from general to a more specific one.