The materiality matrix provides a summary framework of the topics which could potentially influence the actions and performances of Piaggio, its stakeholders’ decisions, as well as the level of "alignment" or "misalignment" between the priority of intervention that stakeholders attribute to the different topics and the level of commitment that the Group takes on relative to them.
The analysis process was conducted by the Group Consolidated Financial Statements Unit of the Administration,Finance and Control Function. The process comprises 4 stages:
- Identification of sustainability issues;
- Identification and engagement of relevant stakeholders;
- Assessment of the significance of topics;
The stage dedicated to the identification of sustainability issues that are relevant for the sector and Piaggio was based on a number of sources, including company policies and principles regarding conduct, the 2017 Sustainability Report and stakeholder engagement initiatives.
The Piaggio Group has always paid considerable attention to engaging with stakeholders, i.e. all entities inside and outside the organisation whose activities have an impact on company operations. In fact stakeholders are defined as having an interest in or expectations (social, economic, professional, human) of the Company.
Based on this definition, the Group has identified a number of categories of stakeholders in relation to its operations, described in full in the section “Stakeholder Engagement”.
The Group’s top managers and a small but representative sample of external stakeholder categories were asked to compile a materiality form, and the aggregated results of this were used to construct the materiality matrix. The 15 topics previously selected were positioned along the two axes:
- the x-axis shows the significance for Piaggio;
- the y-axis shows the significance for external stakeholders.
Of the 15 topics identified, only biodiversity did not exceed the materiality threshold. Piaggio’s production sites are not located in protected areas or areas with high levels of biodiversity. The sole exception is the Scorzè site, which although located in an industrial zone, conveys its waste water into the drainage basin of the Venetian Lagoon. As such the production site is subject to restrictions imposed by specific laws.
The 2018 matrix was examined and approved by the Ethics Committee in the meeting of 11 January 2019.