This sustainability report represents the Consolidated non-financial reporting (CNFR) of the Hera Group (the Group). It reports – to the extent necessary to ensure understanding of Hera’s business activities – on its performance, its results and the impact it has on the issues considered relevant and referred to in Art. 3 and 4 of Italian Legislative Decree No. 254/16 with reference to financial year 2019 (from 1 January 2019 to 31 December 2019). In order to define the aspects relevant to the Group and its stakeholders, a structured materiality analysis process was carried out which is described in the paragraph “Definition of contents” of this methodological guide to the Report.
As established by Art. 5 of Italian Legislative Decree No. 254/16, this document forms a separate report and is marked with specific wording in order to connect it to the Non-Financial Reporting required by law.
The Hera Group considers the Non-Financial Reporting to be its sustainability report, a primary tool for managing and reporting its activities and results in the economic, environmental and social fields, as well as a fundamental tool for providing information to and dialoguing with its stakeholders.
The Sustainability Report has been drawn up and published yearly since 2002. Since 2007, it has been approved by the Board of Directors of Hera Spa when the annual and consolidated financial statements are approved and has been submitted to the Shareholders’ Meeting. The most recent sustainability report was published in April 2019. This edition was approved by the Board of Directors of Hera Spa on 25 March 2020. This aspect demonstrates the central role of sustainability and corporate social responsibility in Hera Group’s planning and control system, which brought forward the obligations introduced by the European directive on non-financial reporting by more than ten years.
The document is widely disseminated to all of the Group’s stakeholders through publication on the company’s website and distribution and presentation to all Group workers.
In addition to the performances and goals achieved, the sustainability report provides the principles which guide Hera Group’s actions, the future objectives, the results of its dialogue with stakeholders and its existing initiatives. Special focus was given to case studies: projects that demonstrate the Group’s commitment towards sustainability and the creation of shared value and the results achieved in these spheres.
The structure of the sustainability report is the direct consequence of the strategic approach aimed at the shared value that Hera Group has adopted since 2016 to respond more effectively to the challenges of sustainable economic development at global and local level, and to make the value generated through the local area more tangible.
The glossary in the appendix explains the technical terms used, while the analytical list of contents makes it easier to read the document.