To optimise calibration of the commitment that Pirelli dedicates to sustainable growth issues, the Company has conducted an in-depth stakeholder engagement activity, leading to a comparison of the expectations of the principal stakeholders of Pirelli on these issues with the importance they have for the success of the business.
Taking into account the complexity and international dimension of the business stakeholders, as well as the wide variety of expectations, the panel of stakeholders of the company that has been asked for feedback included:
- the biggest original equipment customers;
- hundreds of end customers for each representative market;
- the largest dealers from around the world;
- numerous employees working in the various nations where the Group has a presence;
- the biggest suppliers (in terms of sales to Pirelli) in each procurement category;
- the principal shareholders, investors and financial analysts of Pirelli;
- national and supranational institutions and public administrations;
- Journalists from domestic and international newspapers;
- NGO present in each of the countries where Pirelli has productive activities;
- Universities located in each of the countries where Pirelli has productive activities.
The stakeholders were engaged through a request made in their local language to assign action priorities to ESG (Environmental, Social, Governance) issues.
The priorities expressed by Pirelli and its stakeholders were then consolidated and displayed on a materiality matrix whose vertical axis indicates the expectations of external stakeholders, while the horizontal axis indicates the importance assigned by the Company to the elements analysed. The draft of the mapping was then subjected to critical and independent assessment part of a leading company in the field of ESG analysis. The analysts compared the Pirelli draft map results with the contents of the ten international studies they considered to be the most significant and trustworthy among those focused on the Auto Components sector, assessing the prioritisation levels of the different ESG themes in the sector. Following this comparison they made suggestions on whether to make small displacements of the positioning of the ESG issues in the draft of the Pirelli mapping.
The result of the process and the Pirelli Materiality matrix is described below: The dial at the top right identifies the elements of sustainability which have been given a high materiality (i.e. importance) by the stakeholders involved. The lower left part identifies the issues considered of low materiality. The “diagonal line” that results from the mapping of the sustainability factors is extremely important, insofar as it indicates the level of consistency between the vision of Pirelli and its stakeholders. Finally, the substantial alignment with stakeholder expectations results in the targets of the Sustainability Plan 2013-2017 with 2020 Vision that the Company has adopted.