A process was started in 2016 to identify Hera’s approach to Creating Shared Value (CSV). Inspiration was taken from 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 is steering our approach to CSR and has enhanced our sustainability reporting with new views and perspectives, among which quantification of EBITDA generated by “shared value” activities and projects, and of investments made in this area.
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 available to our stakeholders, 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 consolidated point of reference for the reclassification of economic results, developed projects and future goals, in addition to representing a guide for strategic investment choices. These aspects are described in the Sustainability Report with a completely revised list of contents divided by areas identified for the creation of shared value.