A process was started in 2016 to identify Hera’s approach to Creating Shared Value (CSV) inspired by Porter and Kramer’s indications in 2011 and taking into account the new EU communication on CSR of the same year. The programme made it possible to identify our own definition of CSV which will steer our approach to CSR and will further enhance our sustainability reporting with new views and perspectives, some of which already anticipated in this Report.
For Hera, the creation of shared value is the result of all those business activities that generate operating margins and meet the global agenda drivers, i.e. those “calls to action” for change in specific fields, set out in global, European, national and local policies.
This definition of CSV is at the basis of a new, evolved approach to social responsibility and sustainability; besides having already enhanced non-financial reporting with new views and perspectives, it is also an important source of inspiration for future strategies and new projects, in line with the sustainable development targets of the 2030 UN Agenda. For Hera, the CSV approach is a new point of reference also for the reclassification of economic results, future goals and strategic investment choices. This approach already allows us to develop projects and activities geared towards CSV. Many of these are described in this Sustainability Report, where the share of EBITDA generated by “shared-value” activities and projects is also reported for the second time.