The mission and values form the basis for strategic sustainability objectives, based on contexts that are important for the Group.
Piaggio's Corporate Social Responsibility Model
The Group's Corporate Social Responsibility (CSR) strategic objectives – which are largely integrated with and connected to the development of the long-term plan – are based on the following areas:
- Provision of timely, accurate, in-depth information to stakeholders.
- Creation of value while respecting business ethics.
- Technological investments to meet the need for sustainable mobility.
- Innovation to develop products that are environmentally friendly, safe and cost-effective.
- Reducing energy consumption.
- Reducing emissions of CO2 and other pollutants.
- Conserving natural resources.
- Waste handling and recovery.
- Developing, training and promoting human resources so that everyone's expectations and aspirations are met.
- Listening to and assisting customers, to establish relations based on transparency and trust.
- Sale of products that are environmentally friendly, reliable, safe and cost-effective.
- Working together with suppliers, through jointly developed projects.
- Engaging and supporting local communities through social, cultural and educational initiatives.
In achieving its own strategic goals, the Piaggio Group is fully committed to complying with the laws and regulations of the countries where it operates, condemning corruption and respecting human rights.
The process of the Sustainability Plan
As part of the entire Group's steadfast commitment to social responsibility, Piaggio has adopted a process of continual improvement based on a Sustainability plan which aims to provide the utmost transparency for stakeholders and continual improvement. To define this Plan, stakeholder expectations and Group strategic objectives as well as international reporting standards, such as GRI and disclosure requirements of ethical investors, were taken into account.
The Sustainability Plan is updated annually during the preparation of the CSR Report by the CSR Manager.
The process consists of three stages:
- the planning stage: commitments and objectives are defined in cooperation with the functions and operating areas involved in their achievement. Thus defined, the proposed Plan is submitted to the Audit, Risk and Sustainability Committee, which analyses its consistency with the Group's strategies and is formally approved by the Board of Directors together with the CSR Report;
- the management stage: responsibility for achieving the individual objectives in the plan is assigned to the functions and operating areas that have the resources, tools, and necessary competence to achieve these objectives;
- the monitoring stage: to guarantee the commitments taken up in the Sustainability Report, together with the new objectives set for the future, evidence is given of results achieved.
The value of sustainability
Some economic studies point to a link between sustainability and long-term value creation. The economists Porter and Kramer, in their well-known 2011 article 'The big idea: Creating shared value', identified the concept of shared value as the ability of corporate policies and practices to create value that simultaneously generates greater competitiveness for the company and responses to the needs of the communities and challenges of the society in which the company operates.
In recent years, the European Union has enacted provisions to facilitate the financing of sustainable economic activities.
Investors are increasingly interested in investing in sustainable companies as they are considered less risky and more profitable in the long term.
Analysts and international rating agencies constantly monitor Piaggio's ESG performance.
Below are the scores obtained by the international body Carbon Disclosure Project, which assesses CO2 emissions and water use, and the MSCI ESG Research rating agency, which measures the performance of companies based on ESG factors.
CDP Score Climate Change
CDP Score Water Security
MSCI ESG Research
Developing a corporate social responsibility strategy goes hand in hand with defining the company's business context and all its players, inside and outside the organisation, whose activities have an impact on company operations. In fact stakeholders are defined as having an interest in or various expectations (social, economic, professional, human) of the company.
Based on this definition, the Group has identified categories of stakeholders in relation to its operations.
Map of Piaggio Group stakeholders
By pursuing a constructive ongoing dialogue with its stakeholders, Piaggio aims to develop an integrated approach to managing the environment it operates in. Careful monitoring of all its stakeholders' expectations is a great opportunity for it to further improve its operations. It is in this context that Piaggio is focusing its efforts: understanding how to offer products that always live up to the expectations of its customers and how to convey its philosophy and way of doing business with the utmost transparency and effectiveness.
The corporate website of the Piaggio Group (www.piaggiogroup.com) is designed to offer clear and up-to-date information on financial and institutional aspects, and on the corporate activities of the Group. It plays a central role in communications between the company and its stakeholders.
Map of significant issues and methods for engaging stakeholders
Customers and dealers
- Contact centre
- Customer satisfaction surveys
- Communication outlets (websites, social media)
- Events (travelling tests, trade fairs)
- Dealer website
- Dealer support services/Help desk
- Motoplex (new sales format)
- Daily relations
- Suppliers portal
- Meetings, exhibitions and events
- Charity activities
Institutions and Public Administration
- Ongoing dialogue on legal developments
- Periodic ad hoc meetings
- Participation in parliamentary committees appointed to discuss and formulate new regulations
- Meetings and presentations
- Press releases
- Events and company communication initiatives
- Press product launches
- Product test rides
- Wide Piaggio Group Magazine
Shareholders and Lenders
- Conference call/Road Shows
- Piaggio Analyst and Investor Meetings
- Corporate website
- Company Intranet
- Piaggio InfoPoint
- Piaggio Net International
- Web Mail
- Evaluation Management System
- Wide Piaggio Group Magazine
- Meetings with trade unions
Universities and Research Centres
- Cooperation in research projects
- Teaching/internship activities