Finance is often considered a closed shop, a sector reserved for insiders fluent in a language that is inaccessible to most people. Our Group has, however, chosen a different path in order to tell everyone about the new world of energy and its undeniable relationship with sustainability. For the very first time, in the new Annual Consolidated Financial Report 2019, we have chosen to integrate financial and non-financial data, directly linking the Group’s economic and business performance with the UN’s Sustainable Development Goals (SDGs). The report no longer focuses solely on assets, liabilities and amortisations, but is now a document that represents every facet of the Group, thereby confirming that sustainability is value.
In this way the Financial Report becomes a central element in the Group’s Corporate Reporting, while other documents can provide in-depth analysis intended for specific categories of stakeholder. In particular, the Sustainability Report provides a detailed picture of our model that integrates environmental, social and governance (ESG) factors throughout the entire value chain. The goal is to accelerate the energy transition while ensuring that no one is left behind, and is best summarised in the purpose stated at the beginning of the Report: “Open Power for a brighter future. We empower sustainable progress”.
The Sustainability Report culminates with the 2020-2022 Sustainability Plan which prioritises the fight against climate change (SDG 13 – “Climate Action”) through the decarbonisation of the energy mix and greater recourse to the increasing production from renewables (SDG 7 – “Affordable and Clean Energy”) and the electrification of consumption. The enabling factors include the infrastructure and grids (SDG 9 – “Industry, Innovation and Infrastructure”), as well as ecosystems and platforms (SDG 11 - Sustainable Cities and Communities). The centrality of people, a sustainable supply chain, stable governance, health and safety in the workplace and attention to the environment complete the Group’s strategy of sustainability, thus contributing to the achievement of all of the 17 SDGs.
For the very first time, the new Financial Report will include information about climate change and the related financial risks, in line with the recommendations of the TCFD, the Task Force on related Financial Disclosures created by the Financial Stability Board (FSB). Another important new feature is the publication of the browsable version of the document: it will now be possible to browse the detailed content, choosing specific areas of interest and following a personal route through the in-depth information. This more personalisable format means the Report can reach a far broader readership, thereby making the world of finance more accessible to everyone.