Materiality Analysis
The Materiality Analysis is a strategic tool that helps us identify the most significant topics in terms of impacts, risks and opportunities, both for us and our stakeholders.
The concept of "materiality" is also closely related to, among other aspects, the fact that these issues reflect the significant economic, environmental and social impacts of the organization by conditioning decisions and investment choices of stakeholders with consequent reflections on the Group's ability to create value not only in the short, but also in the medium and long term.
The Double Materiality
In recent years, it has become increasingly clear how ESG issues create risks and opportunities from a dual perspective: the financial and the impact perspective. Thus, there has been a shift from a concept of single materiality, whose focus and starting point was the business activity itself, to a concept of double materiality that goes to consider how relevant issues, with associated risks and opportunities, can positively or negatively impact the business and the ecosystem in which the company operates.
For this reason, in line with recent regulatory developments under the EU 2022/2464 Corporate Sustainability Reporting Directive (CSRD), we have embarked on a journey to monitor and communicate not only the impacts we generate through our activities on people and the environment, so-called impact materiality (with an "inside-out" perspective), but also the way in which sustainability issues affect our business, economic and financial performance and our ability to create value not only in the short, but also in the medium and long term, i.e., financial materiality (with an "outside-in" perspective).