The Iren S.p.A. 2020 Sustainability Report, referring to the period 1 January – 31 December 2020, also constitutes a Consolidated Non-Financial Statement (NFS), pursuant to Italian Legislative Decree 254/2016.
The document was prepared, under the coordination of the Corporate Social Responsibility and Local Committees Department, in accordance with the Global Reporting Initiative (GRI) Standard: Comprehensive Option and the Electric Utilities Supplement – G4 Sector Disclosure. This Report adopts, one year in advance, Standard 306 “Waste” published in 2020.
The Sustainability Report also contains the indicators needed to report on the projects financed by the Green Bonds issued by the Iren Group (see page 66 of the “Sustainability Report”).
The document provides extensive information on the management of the Covid-19 crisis and the resulting impacts, in relation to Consob’s Call for Attention (no. 1 of 16/2/2021). The relevant information is highlighted with dotted lines to the side.
The data are reported through the “Sustainability Report – NFS” application, which facilitates the tracking, verification and approval of all required data.
The Sustainability Report/NFS is prepared annually by Iren Group under the coordination of the Corporate Social Responsibility and Local Committees Department (the 2019 Report was published in April 2020) and approved by the Board of Directors together with the draft of the Statutory Financial Statements and the Consolidated Financial Statements.
The Sustainability Report/NFS 2020 was approved by the Board of Directors, along with the draft of the Consolidated Financial Statements, on 25 March 2020, assessing its completeness and consistency with the topics identified in the materiality matrix.
The document was audited by the appointed auditor PricewaterhouseCoopers S.p.A. pursuant to Italian Legislative Decree 254/2016 based on the principles and indications contained in ISAE3000 (International Standard on Assurance Engagements 3000 – Revised) of the International Auditing and Assurance Standards Board (IAASB).
PricewaterhouseCoopers S.p.A. is also the company appointed to perform the legal audit of Iren’s Consolidated Financial Statements.
United Nation Global Compact: communication on progress
Since 2020, Iren has been a member of the United Nations Global Compact (UNGC), recognizing consistency between the ten principles supported by the United Nations with the “Global Compact”, the UN Sustainable Development Goals, the Group’s values and strategies. In view of the commitments entered in joining the UNGC, Iren Group’s Sustainability Report represents Communication on Progress to report to all stakeholders on the activities undertaken and the results achieved in implementing the 10 principles of the Global Compact.
The 10 Principles of the Global Compact
The compliance schedule (see page 148 of the “Sustainability Report”) shows the link between the GRI standards and the 10 Principles of the United Nations Global Compact and the 17 Goals of the UN 2030 Agenda (SDGs), allowing for an integrated reading of the information provided in this Report.
The scope of reporting for the preparation of the Sustainability Report/NFS is indicated in the table below and takes into consideration:
- all of the fully consolidated companies of the Iren Group, with the exception of those in liquidation as at 31/12/2020, inactive, sold or destined to be transferred;
- the companies acquired by the Unieco Environment Division (shown in green italics in the table below) for which it was decided to adopt the prevailing policy, represented in Assonime Circular no. 13 of 12 June 2017, of starting to consolidate non-financial information from 1/1/2021, providing a separate section in this document with a summary qualitative and quantitative description of these companies (see page 148 of the “Sustainability Report”);
- the qualitative and quantitative information for certain companies not fully consolidated (indicated in grey italics in the table below) are given separately in the “Companies Outside the Reporting Boundary” section (see page 23 of the “Sustainability Report”). They are considered significant due to the equity interest held, the business managed and governance.
The following sociogram shows the reporting boundary adopted in this document.
Compared to 2019, changes to the reporting boundary concern:
- the admission into the Group’s scope of consolidation of the companies Asti Energia e Calore and Nord Ovest Servizi (consolidated from 1 July 2020), I.Blu (consolidated from 1 August 2020), Uniproject, Picena Depur, UHA and its 18 subsidiaries, reported in the previous organisational chart, (consolidated from 1 November 2020);
- the merger by incorporation of CMT and Ferrania Ecologia into Iren Ambiente (effective 1 January and 1 April 2020 respectively), of Coin Consultech into Studio Alfa (effective 1 October 2020), of Spezia Energy Trading into Iren Mercato (effective 1 January 2020) and of Busseto Servizi into Ireti (effective 1 January 2020);
- the divestment of Olf Offshore LNG Toscana from 26 February 2020;
- the inclusion among the unconsolidated and separately reported companies, for significance for sustainability purposes, of the investee company Nove acquired as of 1 May 2020.
Any limitations regarding the boundary of the Sustainability Report/NFS are duly indicated, as well as any restatements of the data related to the previous two-year period. It should be noted that, generally, the data referring to certain companies reported in this document for 2020 refer to the consolidation period of these companies by Iren Group, and in particular:
- Asti Energia e Calore and Nord Ovest Servizi from 1 July to 31 December 2020;
- I.Blu from 1 August to 31 December 2020.
In order to guarantee the reliability of the information provided, the Report includes directly measurable quantities, thus limiting the use of estimates as much as possible. Estimated quantities are indicated as such. The calculations are based on the best information available or on sample surveys.