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Dialogue with Stakeholders

Our daily relationship with stakeholders gives us indications on the impact of our work and ideas for continuously improving our service levels and developing operating and management models. Dialogue with the people and communities who inhabit the territories where we operate is strategically important for us to develop strategies with which to deal with the present and build the future.

We update the materiality analysis taking into account stakeholder requests, changes in the regulatory environment, the Group's strategy and any drivers capable of significantly affecting our capacity to generate value in the short, medium and long term.

Double materiality

The new EU Corporate Sustainability Reporting Directive proposes a "double materiality" approach, identifying two ways in which to frame corporate governance, social and environmental issues.

Double materiality

Title: The double materiality approach
 

On the left: Italgas Group

On the right: Sorrounding environment

Inside-out perspective: Impacts generated: how the Group's operations affect the surrounding environment (from  Italgas Group on the surrounding environment)

Outside-in perspective:  Impacts suffered: how the context affects the Group's results and operations (from the surrounding environment on Italgas Group)

Materiality analysis

We have updated the materiality analysis, assessing the impacts generated (so-called “Impact Materiality”) through a set of activities engaging and listening to key qualified, expert interlocutors, as suggested by the reference guidelines (GRI Universal Standards 2021 – GRI 3).

Thus we have gone beyond the concept of a materiality “matrix” in favour of a prioritised list of material topics and a reporting threshold established on the basis of assessment of the most significant impacts.

The four stages of our method for updating the materiality analysis

1
Identification of impacts generated by Italgas and updating of material topics
2
Evaluation of material topics from the point of view of the impacts generated by the Group and a compilation of stakeholder expectations
3
Involvement of Top Management to explain the findings, collect further feedback and validate the analysis
4
Evaluation of the impacts suffered by the Group from a Financial Materiality perspective through interviews with Top Management

Prioritisation of material topics

Prioritisation of material topics
Prioritisation of material topics

 

Title: Prioritisation of material topics

Listening and engagement of external and internal stakeholders has taken place both through the organisation of a Multistakeholder Forum and by asking all external participants and all Group employees (Italy and Greece) to assess, through a survey, the material topics in terms of Generated Impact, Urgency and Perceived Oversight, on a Likert scale (from 1 to 5).

 

Material topics

Impact Materiality

Financial Materiality

Newtorks digitalization and innovation

4.6

4.7

Energy transition and fight against climate change

4.4

4.3

Safety of network, assets and people

4.5

4.0

Cybersecurity

4.4

4.0

Quality of services and customer satisfaction

4.4

3.3

Economic value generation and ESG finance

4.3

3.3

Network development

4.3

3.3

Protection, inclusion, enhancement and well-being of human resources

4.2

3.0

Compliance, transparency and fight against corruption

4.2

3.0

Responsible governance and risk management

4.3

2.6

Sustainable management of the supply chain

4.4

2.3

Respect tor human rights

4.1

2.0

Adoption of circular economy principles

4.2

1.7

Dialogue and value creation on territory

3.9

1.7

Management of ecosystems and biodiversity

3.8

1.0

Corporate identity (founding corporate values, historical legacy)

3.5

1.3

Dialogue with our stakeholders

 

Stakeholder category       Stakeholder interaction methods
Investors and lendersRegular financial reports and related conference calls; presentation of the business plan; Shareholders' Meeting; in-person and virtual meetings and conference calls with analysts and investors, sometimes specifically dedicated to SRI topics; corporate website, social media.
SuppliersDedicated meetings, supplier conventions; annual training and engagement initiatives.
Customers and sales companiesDirect and ongoing relationships with sales staff via dedicated dialogue channels; regular workshops with sales companies; interactions with end customers via customer portals; customer satisfaction surveys.
Authorities and AssociationsPeriodic meetings, continuous dialogue and workshops for debate, and discussion of  sustainability topics on an Italian and international level
PeopleTraining events; periodic meetings; annual meetings to discuss career development paths; newsletters; company environment analyses; company Intranet
Communities and local areasMeetings with representatives of local communities, associations and organisations; social and cultural initiatives.