total yield
of the stock
compared to
its 2003 price
euro cent
per share
million euro
of added value distributed
to local stakeholders

Dialogue and consultation initiatives

Hera’s significant commitment to involving stakeholders is by now part of the operational structure of the departments that deal with the relations with various stakeholders.

The continuation of the six Local Advisory Boards (HeraLABs) and the start in 2017, following the end of their mandate, of two new HeraLABs in Ravenna and Ferrara according to a new relationship model, the internal climate survey with its related improvement actions and the customer satisfaction surveys on all types of customers are actions and projects that have led to a solid, preferential communication channel with the local community and main stakeholders, and have become normal analysis methods that allow us to identify areas for improvement. The results of these activities are assessed by Top Management.

The social responsibility management system in compliance with standard Sa 8000 was developed in 2012. During 2017, it provided further structured methods for setting up dialogue and involving workers, as set out in the new Sa 8000:2014 standard.

Activities to raise awareness and provide training on the Code of Ethics continued in 2017, also in relation to the approval of the fourth edition of the Code.

In the sections of the report, the approach used and the results of the main dialogue and consultation initiatives carried out in 2017 are set forth by stakeholder category.


Stakeholders Main categories Key issue Key listening, dialogue and consultation initiatives
Workforce Employees
– Non-employee workforce
– Trade unions
Stability, internal climate, training, career advancement, bonuses, remuneration, life/work balance, equal opportunities, safety, internal communication – Biennial internal climate survey: the 7th biennial internal climate survey was carried out involving all Group companies with 78% redemption
6,720 employees involved in the 18 yearly meetings that the Chairman and Managing Director held between May and June in Hera Group’s local areas to illustrate the business plan and development prospects
Code of Ethics training: in 2017, training on the Code of Ethics in day-to-day management continued, now in its fourth edition, involving 24 individuals
Sa8000: around 220 employees involved in SA8000 interviews and all reports received were taken into consideration. Social Performance Team: joint participation body involving workers’ representatives and the company: 2 meetings in Hera Spa in 2017
Herasolidale: December 2017 marked the end of the 2nd edition during which the workforce chose 11 voluntary associations out of 44 proposals, and later, 575 employees decided to devolve a portion of their salary to one of the winning non-profit organisations.
Heureka: 79 ideas submitted by 58 workers in 2017 for the project dedicated to Group employees’ ideas for innovation
Customers – Residential customers
– Citizens residing in the areas served
– Business customers
– Consumer groups and trade associations
Service quality, tariffs, transparency, safety, service reliability, communication and information Yearly residential customer satisfaction survey: 6,200 interviews to Group customers
Joint mediation procedures of Hera and AcegasApsAmga: 69 requests for mediation received from Hera and 13 from AcegasApsAmga in 2017
– 797 cases managed through the direct contact channel with consumers’ associations
Seven meetings in 2017 with the concerned associations, in the seven areas in which Hera operates.
Shareholders – Public shareholders
– Institutional investors
– Private investors
– Financial community
– Ethical funds
Dividends, share performance, investor relations, corporate governance aligned with best practices Investor relations activities: meetings with 369 investors
Yearly publication of the calendar of corporate events
Interactive tools for analysing stock and business results through benchmarking with main peers available to analysts and investors on the website
High participation of shareholders (77% of share capital) in the meeting held on 27 April 2017
Financial institutions – Banks
– Bond market
Continuity of relations, long-term solidity of equity  





Suppliers – Suppliers of goods, services and work
– Qualified suppliers
– Local suppliers
Continuity of relations, qualification, bargaining conditions, payment conditions >- Meetings continued with representatives of social cooperatives working in Emilia-Romagna for monitoring the employment of 807 persons facing hardship
Public Administration – Local authorities of reference: Municipalities, provinces, regions, their associations and local bodies
– Regulatory and control bodies
– Universities and research institutes
– State agencies
Transparent communication, concern over local issues, compliance with the law, correct management practices, innovation, partnerships – The area managers organised 2,019 meetings with mayors and received 2,705 requests from the Municipalities of the local areas served
Local community – Local associations
– Trade associations
– Media
– Residents in the vicinity of production plants
– Citizens’ committees
Strengthening of dialogue with the local community, support for initiatives, local investment, transparent communication, socially responsible corporate management 14 meetings held in 2017 in the 6 active Labs: 66 representatives from the various stakeholder categories took part in them
– 250 participants in the convention held in Bologna on 6 June 2017 to present the 2016 Sustainability Report
– 241 guided tours in 2017 of Herambiente plants with over 3,948 visitors, 2,439 of which were students
Environment and future generations – Environmental associations
– Trade associations
– Technicians and experts from other companies
– Technicians and persons competent in environmental issues elected by the inspectorates
Production of energy from renewable sources, energy and water saving, district heating, water withdrawal, greenhouse gas emissions, atmospheric emissions, separate waste collection, waste management and disposal Hera and AcegasApsAmga promoted a wide range of initiatives to promote energy and water savings, the use of water from the network and separate waste collection