Prysmian celebrated its annual Sustainability and Innovation Days event on June 27, engaging key stakeholders to assess and accelerate the key environmental, social & governance themes which impact both business and society.
Jul 11, 2024
Global cable manufacturer and solutions provider for energy, telecom, cables and wires industries, Prysmian, celebrated its annual “Sustainability and Innovation Days” event on June 27.
The occasion brought together Prysmian’s suppliers and customers from across the world, as well as other key stakeholders, to discuss, share progress and explore initiatives that have been put in place to make a positive impact for the environment and society, connected through a spirit of innovation.
The “Sustainability and Innovation Days” are also part of Prysmian’s sustainability approach – engaging key stakeholders to assess and accelerate the key environmental, social and governance themes that impact both business and society. In order to ensure that progress is also transparent and regularly updated, Prysmian’s sustainability targets are shared in detail through the lens of its sustainability scorecard – which looks at 12 Impact KPIs aligned to the UN’s sustainable development goals.
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The scorecard is shaped on the four pillars of Prysmian’s sustainability approach – Environment, People-Community, Governance and Innovation. The targets of the scorecard are regularly monitored by the Sustainability Steering Committee, chaired by the Chief Investor Relations, Sustainability and Communication Officer, and shared with the Sustainability Committee.
On the occasion, the company announced acceleration of some key sustainability initiatives, as well as updates to medium term targets in its sustainability plan.
Following the acquisition of sustainable leader Encore Wire, Prysmian has decided to undertake an upward revision of its sustainability targets. The global cablemaker has launched E-Path, its new label for cables that have been made to fully incorporate market-leading standards in measurable sustainability criteria. The label will be applied to Prysmian products meeting this standard across the world.
Prysmian has decided to become a partner of the “Copper Mark” initiative – a leading assurance framework to help increase the amount of responsibly produced, sourced, and recycled metal available to society. The company is undergoing assessments to introduce science-based biodiversity targets aligned with the Science Based Network. Prysmian’s share of revenues from sustainable products reached 41 percent at Q1 2024, already surpassing the 2025 target of 40 percent.
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Mr. Massimo Battaini, Prysmian CEO, said: “Prysmian plays a central role in both the energy and digital transformations, and our spirit of responsibility, shared with our partners – suppliers and customers – is helping us accelerate both transitions in a sustainable way. For Prysmian, sustainability and innovation go hand-in-hand. Our relentless commitment to innovating our products allows us not only to reduce ours, and our customers, carbon emissions and environmental impact, but above all it advances efficiency. Sustainability is fully embedded into our “Connect to Lead” strategic plan, and this approach was also an integral part of our decision to acquire Encore Wire. Encore Wire’s market-leading approach to their business is founded on an innovative production process and speed-to-market that sets them apart as a sustainability pioneer and will enable us to be even more ambitious in accelerating our, and our partners, sustainability journey.”
Ms. Cristina Bifulco, Prysmian’s Chief Investor Relations, Sustainability and Communication Officer, said: “Our Sustainability and Innovation event is a moment for us to update our key stakeholders on the role we play for the environment and society on one hand, but also to discuss with our partners – suppliers, customers and other stakeholders including the financial community – on the road ahead, collectively. For us, sustainability isn’t only reporting, although transparency is an important factor, it is about pushing the boundaries of what is possible to make our products as efficient as possible while enhancing the impact the overall value-chain has on people and the planet.”
