Sustainability: it's always been in our DNA
We strongly believe in sustainable development since it has always been part of our corporate strategy. Because the environment is not only a part of our work, but also and above all a social heritage: a resource to protect and safeguard, to ensure a future for the community.
In addition to offering quality energy, water and waste management services, our mission is to create "Shared Value", i.e. economic value for the company and at the same time for the community and the area we serve, with public priorities as our guiding principles.
“Environmental and social goals are integrated with our planning and control system, and are accurately recorded in our Sustainability Report, which is drafted in strict compliance with international standards”
Filippo Bocchi – Manager of Shared Value and Sustainability
The creation of shared value is now included in our Articles of Association
We are one of the first companies in Italy to introduce the concept of "Purpose" within our Articles of Association, with a focus on creating shared value. In particular, we have included a further paragraph in Article 3 to clarify our corporate purpose (i.e., the objectives that we aim to achieve in the conduct of our business), thus reaffirming our commitment to sustainability which has characterized the company since its inception.
The new paragraph reads as follows: "The Company’s business model aims at creating long-term value for its shareholders through the creation of shared value with its stakeholders. For this purpose, the Company organises and carries out its business activities in order to promote social equity and contribute to achieving carbon neutrality, the regeneration of resources and the resilience of the services system managed for the benefit of customers, the ecosystem of its territory and future generations (Hera for the Planet, People and Prosperity)”.
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Mission, values and code of ethics
Mission and corporate values meet in our "Code of Ethics", renewed every three years involving workers, and are the reference point for everyone who works at Hera. But that's not all. The results obtained by managers are also determined by a measurement system (Balanced scorecard) that is highly integrated with our sustainability objectives, which enables us to translate our strategy into operational projects. This wealth of values is the horizon for drawing up the business plan every year and transparently reporting our results to stakeholders.
Listening and dialogue with our stakeholders
We believe in constant dialogue with our stakeholders. Thanks to listening and exchange, mutual sharing of knowledge and experience, we can transparently report the results we have achieved with regard to sustainable development in our Sustainability Report, published annually and, since 2007, approved at the same time as our Annual Report. It is important for us to answer questions from local stakeholders and make the value generated in the area more tangible.
Strategy, shared value and business plan
In our approach to Shared Value - or CSV, the acronym for "Creating Shared Value" - sustainability is a beacon of business operations. It also guides corporate strategy and the drive for innovation to address the urgencies outlined in the UN Global Agenda 2030. This vision enables us to achieve positive effects in terms of competitiveness, reputation and involvement of people.
The Group's strategy is set out in our Business Plan for the coming 4 years; the most recent 2023-2027 Plan projects growing economic results, achieved by respecting economic-financial, environmental and social sustainability.
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The balanced scorecard adopted by the Group is a strategic control system that is based on the link between the business strategy and the company daily management and it was defined in the early nineties by professors R. Kaplan and D. Norton. The corporate strategy is in fact summarized in a Strategic Map, updated every year on the basis of the business plan, which thus becomes the synthesis of the Group's strategic targets and the commitments towards stakeholders, as declared in the sustainability report. The variable remuneration of middle managers and executives is based on the achievement of these goals, set in accordance with the annual strategic map.
Every balanced scorecard is composed by three parts:
- the first one consists of specific projects, which derive from the operational translation of the target summarized in the Map;
- the second one contains the economic targets defined in the yearly budget;
- the third one consists in the assessment of managerial behaviors as indicated in the Group leadership model.
The assignment of goals and targets to employees and the evaluation of their achievement take place through a well-defined process, which sees the involvement of the senior management. The activity is carried out with the coordination of the Balanced Scorecard Team, which is part of the Shared Value and Sustainability Department.
The 2023-2026 Strategic Map, which inspires the Group’s most relevant projects aiming to achieve the 26 strategic goals meant to create value for the company and its stakeholders in a long-term perspective.
All objectives contribute to the ultimate goal of creating value for the company and its stakeholders through the creation of shared value.
The definition of objective projects and the related quarterly monitoring system are an important management tool to ensure:
- an integrated assessment of the company performance, in addition to the traditional economic-financial figures analysis;
- the integration of the business plan targets into the goals specifically set for executives and managers;
- the inclusion in the incentive system of executives and managers of targets related to creation of shared value and sustainability;
- the implementation of a continuous improvement process on strategic targets declined in projects and KPI;
- the formalization and tracking of the actions meant to achieve set results;
- the highlighting and analysis of critical situations and the definition of timely corrective actions