02

Sustainability

Sustainability as
As A Holistic Vision

For more than 38 years, our mission has been to be our customers’ reference point within the precious metals supply chain, offering excellence, quality, safety, innovation and reliability. We are inspired by the principles of compliance, ethics, transparency, confidentiality and integrity, adopting the highest international standards and guidelines in the management of our activities in all contexts in which we operate.
We consider sustainability the engine of a continuous improvement process that guarantees results over time and strengthening of economic performance and our reputation.
Protecting the environment, protection and promotion of human rights, and respect for safe and fair labor standards, also through technological innovation, represent the founding principles of our way of operating, in line with the 2030 United Nations (UN) Agenda.
The UN 2030 Agenda for Sustainable Development was presented in 2015. It represents important awareness by the entire international community, which is finally committed to collaborating and working daily to achieve the 17 common goals.
This is why we support the initiative, in line with our companies’ values in a holistic vision of sustainability, where every single goal must be considered.
The objectives are the basis of the new 2020-2025 Industrial Plan that will accompany Italpreziosi on a path towards excellence through its Sustainable Business Model based on four pillars.

Materiality assessment

At Italpreziosi, we are aware of the centrality of all 17 Sustainable Development Goals (SDGs). This is why we consider it necessary to treat them holistically and not individually. Each goal influences the other, making it necessary, within the limits set by our range of action, to include the 17 goals in all our activities. 

The Materiality Assessment process is central to drafting of the Sustainability Report. The methodological process included the following phases: 

Identification

significant issues are identified by conducting an analysis of the business context and of our Business Plan;

Prioritization

we have identified the issues that, more than others, will have a fundamental impact both inside and outside the company activities. In doing this, our stakeholders’ involvement and inclusion of their visions in ours is fundamental;

Validation

all issues and aspects identified and prioritized in compliance with the “completeness” principle.

Report

Review

All these values, in addition to being fundamental in drafting the Report, were crucial for development of the 2020-2025 Business Plan.

STAKEHOLDERS’ INVOLVEMENT

Involving our stakeholders represents a fundamental and constructive step for Italpreziosi to understand its current and future performance, but also to seek solutions for all the challenges that our industry is facing. Improving our performances with an updated evaluation on the common fundamental themes and dialogue is the basis of our daily work and of the creation of a shared value in the long term. We regularly involve our stakeholders, including personnel, suppliers, customers, local communities, institutions, associations, industry groups, and the press, with the aim of transparently transmitting our values and establishing relationships of trust and promoters of sustainable development in our sector.

We conducted an anonymous survey that involved all our stakeholders to identify and implement the common objectives. The survey parameters are updated annually.

In 2022 82 counterparties esponded to the survey

SUSTAINABILITY GOVERNANCE

As highlighted in the corporate introduction, our governance’s integrity and ethics are defined by a solid structure that can enhance and adequately monitor our values in the company. This Sustainability Commission’s presence is essential for defining, monitoring and applying the corporate strategy.

The Due Diligence Commission supports the Sustainability Commission’s, as compliance and sustainability must go hand in hand. This synergy aims to make the due diligence work even closer to all stakeholders, integrating it with a sustainability path aimed at collaboration and support in Compliance towards its suppliers and customers.

Members of the company’s Senior Management are part of the Sustainability Commission, with experience and key roles in the business. The Commission’s most important objective is to define and update Italpreziosi’s sustainable strategy in the short and long term. The Commission’s other fundamental activities include coordination for writing the Sustainability Report and assessing the company’s environmental and social impact. Consequently, with other company administrators and management, it defines a strategy aligned with the company values for the process of involving and monitoring suppliers regarding sustainability issues and for conception, management and monitoring of sustainability projects.

TOPICS OF COMMON SIGNIFICANCE

On the following page, we can see schematically all issues of primary interest common with our stakeholders. Material issues are always rationalized and updated, considering Italpreziosi’s evolution and the context in which it operates. For this reason, new parameters have been inserted within the macro-areas. The four macro-areas are as follows:

1. VALUE CREATION FOR OUR STAKEHOLDERS

2. PROTECTING THE ENVIRONMENT IN WHICH WE LIVE AND OPERATE

3. ONGOING ENHANCEMENT OF OUR PEOPLE

4. OUR PRODUCTION CHAIN’S TRANSPARENCY AND SUSTAINABILITY

Stakeholders & Italpreziosi

Compared to the previous year, the management decided to insert more specific indicators that were implicit in other categories. These include innovation, gender equality, zero tolerance against discrimination of all kinds, and sustainable transport . These indicators showed a remarkably high level of significance, confirming the importance that our stakeholders give to these issues, in line with ours. 

As indicated in the paragraph dedicated to the Materiality Assessment, every year we send and share the anonymous survey to all our stakeholders, through which they indicate their recognition of the importance of social, environmental and economic aspects that we have identified. 

Compared to the previous year, we have seen a substantial increase in the importance of issues dear to us among our stakeholders. This is a fundamental aspect because it confirms greater awareness of the crucial issue of sustainability in various fields of application, from social to the environment. The indicators with greatest growth relevant for our stakeholders were energy consumption, biodiversity, employee involvement, training and education, equal compensation and opportunities, complaint management and anti-corruption control.

RELEVANCE FOR OUR STAKEHOLDERS
RELEVANCE FOR ITALPREZIOSI
Importante Important
Economic value generated and distributed
Procurement practices
Support and integration of local suppliers
Materials used
Innovation
Energy Consumption
Water consumption
Biodiversity
Greenhouse gas emissions
Waste and discharges
Product transport
Working conditions
Health & Safety
Employee involvement
Training and education
Equal opportunities
Equal compensation
Claims management
Activities involving human rights assessment
Freedom of association
Fight against child labor
Gender equality
Zero tolerance against discrimination
Compliance
Local communities
Corruption control
Anti-competitive attitude
Non-compliance with local laws
Ethics and integrity
Product safety
Information and labeling
Customer survey
Sustainable product transport

OUR STAKEHOLDERS’ MAIN ACTIVITIES OF INVOLVEMENT

Shareholders
  • PERIODIC MEETINGS
  • SHAREHOLDERS’ MEETING
  • SUSTAINABILITY REPORT
  • ANNUAL REPORT
Board Of Directors
  • PERIODIC MEETINGS
  • SUSTAINABILITY REPORT
  • ANNUAL REPORT
Management
  • MONTHLY MEETINGS WITH THE CEO AND DEPARTMENT MANAGERS
  • DUE DILIGENCE COMMISSION
  • SUSTAINABILITY COMMISSION
  • SUPERVISION AND APPLICATION OF THE SUSTAINABILITY AND BUSINESS STRATEGY
  • SUSTAINABILITY REPORT
  • ANNUAL REPORT
Local Communities
  • SUPPORT FOR LOCAL AND NATIONAL INITIATIVES AND EVENTS IN VARIOUS FIELDS
  • SUSTAINABILITY REPORT
  • SOCIAL NETWORK AND WEBSITE
National and international institutions and authorities
  • MEETINGS WITH LOCAL, NATIONAL AND INTERNATIONAL POLITICAL AND INSTITUTIONAL REPRESENTATIVES ON SECTOR ISSUES
  • PERIODIC COMMUNICATION
  • CONSTANT COLLABORATION
  • VISITS TO OUR OFFICE
Voluntary organizations and trade associations
  • SUPPORT, MEMBERSHIP AND PARTICIPATION IN LBMA, RJC, RMI, IPMI, UN GLOBAL COMPACT, EITI, WGC
  • COLLABORATIONS AND PARTNERSHIPS IN PROJECTS WITH MULTIPLE STAKEHOLDERS TO IMPLEMENT SUSTAINABILITY PROJECTS
  • PARTICIPATION IN ROUND TABLES ON SECTOR ISSUES
  • PERIODIC COMMUNICATIONS
  • EVENTS, CONFERENCES, SEMINARS AND TRAINING INITIATIVES ON SUSTAINABILITY ISSUES: CREATING GUIDELINES AND SHARING BEST PRACTICES
  • CONSTANT COLLABORATION
  • COMPANY VISITS
  • SUSTAINABILITY REPORT
Public services
  • COLLABORATIONS ON SECURITY
  • ENVIRONMENTAL IMPACT
  • REGULAR SAFETY DRILLS
  • SUSTAINABILITY REPORT
  • PERIODIC COMMUNICATIONS
Customers and Suppliers
  • CORPORATE COMMUNICATIONS
  • PERIODIC SATISFACTION SURVEY
  • DUE DILIGENCE ON BOARDING PROCESS
  • REPORTS AND COMPARISONS THROUGH INDUSTRY ASSOCIATION
  • SUSTAINABILITY REPORT
  • SOCIAL NETWORK AND WEBSITE
  • VISITS TO OUR OFFICE
  • VISITS TO OUR CUSTOMERS AND SUPPLIERS
  • CLEAR AND TIMELY COMMUNICATION, UPDATED
  • COLLABORATION FOR BETTER SUPPLY CHAIN SUSTAINABILITY
  • CODE OF ETHICS AND SUPPLY CHAIN POLICY
  • CUSTOMER AND SUPPLIER SERVICE
  • INFORMATION CHAIN: WEBSITE DEDICATED TO RESPONSIBLE SOURCING, DUE DILIGENCE AND SUSTAINABILITY TRAINING
Staff
  • INTERNAL COMMUNICATION INITIATIVES DEDICATED TO HEALTH AND SAFETY ISSUES FOR MANAGING THE COVID-19 EMERGENCY, SUCH AS NEWSLETTERS, TRAINING SESSIONS
  • PERIODIC CLIMATE WORK SURVEY
  • REFRESHER AND TRAINING COURSES
  • COORDINATION MEETING BETWEEN VARIOUS DEPARTMENTS
  • PERIODIC CORPORATE EVENTS FOR TEAM BUILDING AND HEALTHY OUTDOOR ACTIVITIES
  • SUSTAINABILITY REPORT
  • SOCIAL NETWORK AND WEBSITE
  • ETHICAL CODE
  • WELFARE SYSTEM
  • DIGITAL BULLETIN BOARD
Competitors
  • MEETINGS ORGANIZED BY INDUSTRY ASSOCIATIONS
  • VISITS AND COMMUNICATIONS
  • COLLABORATIONS IN PROJECTS AND ROUND TABLES TO CREATE A MORE SUSTAINABLE SUPPLY CHAIN
  • SUSTAINABILITY REPORT
Universities and institutes
  • SCIENTIFIC RESEARCH SUPPORT WITH UNIVERSITIES
  • SUPPORT LOCAL TRAINING COURSES IN THE SECTOR
  • MEETINGS OF OUR CEO WITH LOCAL TRAINING INSTITUTES
  • SOCIAL NETWORK AND WEBSITE
Press
  • PRESS RELATIONS OFFICE
  • SOCIAL NETWORK AND WEBSITE
  • SUSTAINABILITY REPORT