Sustainability

The complexity of today’s world makes it necessary to make explicit what in past years was often implicit and to communicate to the outside world, also thanks to new communication tools, much more than in the past.

Making it explicit, in this context, involves a commitment to write down what you do, how you do it and to evaluate and possibly measure the impacts of what you do.

Sharing this in a transparent manner entails taking responsibility and a commitment to continuity and effectiveness.

Preparing a sustainability report is a very demanding exercise for a company like ours, but I believe that, in the current context, it is a fundamental step to continue pursuing our goal of continuity and development in a long-term perspective.

In the document, you will therefore find out what the company does, how it does it and, as far as possible, what the impacts are in relation to the four pillars of sustainability as defined by the World Economic Forum (WEF):

• Governance Principles
• People
• Planet
• Prosperity

The four pillars are strongly interrelated, so it is only by acting actively and appropriately in the four areas that the conditions for continuity and development can be created.
Therefore, it will not be possible to pursue continuity and development without good governance to achieve economic results that ensure the necessary financial capacity for operations and investments but, at the same time, no organization is able to operate and develop without the individual commitment and contribution of the people working in it and in a Planet devastated by extreme climatic events.

Costacurta’s commitment in relation to the health of our Planet will not only be focused on reducing impacts, but will also and above all be aimed at contributing, with the skills and experience accumulated over more than one hundred years, to the development of technologies that can accelerate the energy transition and the transition to a circular economy, which, as the new generations rightly remind us, must be pursued with timeliness and firm determination.

In 2023, we decided to involve our stakeholders in defining material issues to more accurately identify business priorities and build stronger, more trusting relationships. This year, the first stakeholders involved were our employees. We submitted a questionnaire to the entire corporate population to enable them to assess the relevance of the themes in the materiality analysis. The results confirmed the material issues identified earlier, with Human Capital Development, Governance, Innovation, and Health and Safety as the most significant issues.

Regarding Human Capital Development, we extended the annual assessment of skills and behaviors to all employees, digitizing the process to facilitate information sharing and track training needs. During the year, we held events to promote cohesion and improve internal communication, keeping a high focus on creating a collaborative and positive work environment. The employee engagement survey had a very positive participation rate and many useful comments to guide improvement actions in the coming years.

On the topic of Governance, the meetings of the Committees established within the Board of Directors and chaired by independent directors continue numerous and fruitful.

On the topic of Innovation, we continue to invest in areas related to energy transition and circular economy, putting ourselves forward as a strategic partner for co-development and production of metal components. It is our hope that this project will contribute to the continuity and development of the company in the long run, while supporting the energy transition and the transition to a circular economy.

For Health and Safety, one of our priority issues, we are working diligently to develop a strong workplace safety culture and continue to invest in increasing the level of safety for our workers. We completed the first round of Safety Observation Tours in manufacturing plants, raising awareness of safety issues and improving compliance scores to align with industry best practices. The safety awareness campaign led to a significant increase in reports of near misses and unsafe acts. We have provided numerous safety training courses and introduced a safety-related parameter in scorecards to incentivize the reduction of workplace accidents.

On the topic of Cybersecurity, we are focusing our efforts to better manage risks, meet regulatory compliance, and protect our digital assets. The goal is to strengthen our operational resilience and reassure our stakeholders. We are aware of the complexities associated with this issue and convinced of the need to pursue cybersecurity with determination and perseverance.

Finally, on the issue of Emissions, which is of significant importance in this historical period, our efforts to reduce our environmental impact continue. This year was marked by a strong commitment to disclosure and transparency. Among the many initiatives, it is worth mentioning that we joined the Carbon Disclosure Project (CDP) for the third year in a row and received the bronze medal from EcoVadis, awarded to companies that rank in the top 35 percent of those evaluated on all Sustainability issues.

We look to the future with confidence, determined to continue on our path of sustainable growth, always guided by our values and commitment to our stakeholders.

Paolo Mondello
Chairman and CEO