The Piovan Group confirms its commitment to sustainable development by obtaining an ESG Risk Rating issued by Sustainalytics - a Morningstar company and leading independent ESG research, rating and data firm that support investors with the development and implementation of responsible investment strategies.
The rating is based on a "Comprehensive" analysis framework, a more in-depth methodology than the "Core" one previously used by Sustainalytics to assess the Piovan Group. The analysis considered aspects related to: human rights, occupational health and safety, carbon emissions, business ethics, human capital, environmental and social impact of products and services.
As of November 2021, Piovan Group received an ESG Risk Rating of 21.9, which places Piovan in the Medium Risk category, improving by 11.8 points from the previous evaluation (33.7) with the best score in the categories:
- Carbon-Own Operations
- E&S Impact of Products and Services
- Occupational Health and Safety
In the global Sustainalytics ranking, Piovan is placed in the 29th percentile with the position improving further in the industrial Machinery Subindustry, where Piovan is placed in the 5th percentile.
"The achievement of this important recognition - comments Nicola Piovan, Executive Chairman - is evidence of the continuous commitment that the Group dedicates to ESG aspects in the totality of sustainable development. This rating is not the arrival but a stage in the journey.".
"We are satisfied because the rating obtained enhances the peculiarities of the Piovan Group, focusing on low Scope 1 emissions - direct generated by the company -, Scope 2 - indirect generated by the energy purchased and consumed by the company. The company aims to be a global driver in the conversion to a circular economy within the plastics industry." adds Filippo Zuppichin, CEO.
For more details, the report abstract is published on the Sustainalytics website at: https://www.sustainalytics.com/esg-rating/piovan-spa/2002586028.