The material issues
Our sustainable development priorities
The United Nations 2030 Agenda has identified 17 Sustainable Development Goals (SDGs) for organisations, which represent the routes to take to overcome the complex environmental, social and organisational challenges of our time.
These goals are an important reference point for the international community and are being increasingly taken into account by companies in their medium-to-long-term business plans.
Given the many sectors in which it operates, Pietro Fiorentini is a leading player in contributing to the achievement of 10 out of 17 Sustainable Development Goals of the United Nations.
In 2021, we have conducted a first materiality analysis process which involved both internal and external stakeholders (especially clients, trade associations, educational institutions, financiers, suppliers, legal and regulatory authorities). This process, which took place at the beginning of 2021, allowed us to define the Materiality Matrix – a tool that allows us to frame and enhance the most important aspects of sustainability, relevant to both the company and its stakeholders.
In 2022, the Global Reporting Initiative (GRI), the institution Pietro Fiorentini refers to for its Sustainability Report, released an update of the reporting standards. An important aspect of this revision is about the identification of material topics. Through the new process, called Impact Materiality, the standard intends to give emphasis to impact metrics as a characterising factor to determine objectively and, as far as possible, quantitatively, the real extent of the material themes identified.
With the intention of complying with the update, the company followed the upcoming guidelines to re-evaluate its material issues:
- Analysis of the organisation’s context and updating of the materiality matrix
- Identification of impacts (actual positive, potential positive, actual negative and potential negative)
- Evaluation of the significance of impacts
- Prioritisation of impacts and definition of material issues
The analysis conducted at Pietro Fiorentini focused on short-term impacts (1-3 years) and provided a systemic view of the effect the organisation has, or could have, on the economy, the environment, and people, including human rights, as a result of its activities and relationships. Defining these impacts also allows for a better understanding of the company’s contribution towards achieving the Sustainable Development Goals defined by the UN in the 2030 Agenda.