Responsible management

Ethical business conduct

Here at Piaggio, we believe that “the ethics of business management must be pursued in conjunction with success in business”. Code of Ethics, Article 1.

Sustainability governance structure

 

responsible management
 

The Board examines and approves the strategic, business and financial plans which supplement the main guidelines to promote a sustainable business model and lay the foundations for the creation of long-term value. It also defines the Sustainability Strategy, Sustainability Plan and approves the Consolidated Non-Financial Statement.

The committee examines corporate sustainability issues and stakeholder relations, oversees the data collection system for the NFS and its approval and monitors the Company's positioning on sustainability issues, with particular reference to its position in ethical sustainability indexes.

The Ethics Committee develops organisational rules and conduct in line with international best practices in the field of Corporate Social Responsibility.

The Financial Reporting Manager prepares the Non-Financial Statement with the support of the CSR Manager.

As delegated by the Financial Reporting Manager, the CSR Manager oversees all activities related to sustainability through the “Consolidated Financial Reporting and Sustainability” Function: defining sustainability lines and monitoring progress, preparing reports and managing relations with international organisations.

The rules we have set ourselves

A responsible business management system

In the pursuit of its mission, the Group has adopted suitable measures, including organisational, with a view to respecting environmental and social values.

The Code of Ethics, last updated in 2023 with regards to antitrust and competition, personal data protection, ESG, whistleblowing, which has been widely disseminated, applies to all Group companies and defines the principles and values that inspire the entire corporate organisation in a clear and transparent way.

Code of ethics

Prepared and already adopted for a number of years by the Indian affiliate.

This model describes the corporate procedures aimed at preventing the commission of offences, for which the company could be held liable, by all personnel during the performance of their duties.

Organisational model

The Piaggio Group has a policy system in place to ensure compliance with the principles of correctness, transparency, honesty and integrity in line with the international standards on responsible business management. The Group operates in different geographical, legislative and cultural contexts. The application of policies and guidelines is therefore delegated to the individual companies through the issuing of operating practices and procedures.

As stated in the Code of Ethics, in pursuing its mission the Group ensures the strict prohibition of any practice of corruption, requests and/or giving of favours, any collusive behaviour, solicitation, directly/indirectly and/or through third parties, of personal advantages of any kind for oneself and/or for others, of material benefits and/or any other advantages of any amount in favour of third parties, be they private entities, public entities or representatives of Italian or foreign governments, through the adoption of suitable measures, including organisational.

Group companies must comply with local laws and regulations and conduct their business in line with the Code of Ethics and its fundamental values of honesty, integrity and respect for people. The Code of Ethics supports Piaggio’s commitment to being responsible and respectful and helps personnel and contractors make informed, ethical and legal decisions. Suppliers from around the world who wish to do business with Piaggio are required to accept and sign the Group's general conditions of supply, which include the Code of Ethics.

The Piaggio Group complies with the UN Guiding Principles on Business and Human Rights adopted in 2011 and the ILO Declaration on Fundamental Principles and Rights at Work adopted in 1998.

Whistleblowing

Piaggio has set up a channel for reporting information, in good faith, regarding serious offences relating to breaches of the law and/or the internal control system (e.g. Code of Ethics, 231/2001 Organisational Mode, internal policies and procedures) that have occurred or are very likely to occur within the organisation.

 

Piaggio integrity Line

Whistleblowing