BoD examined the Flick Committee Report
The Board also approved the Group's 2013 draft Sustainability Report
The Board of Directors of Finmeccanica, which met today under the chairmanship of Gianni De Gennaro, examined the report drafted by the Flick Committee, an independent body appointed by the Board of Directors of Finmeccanica on 15 April 2013, with the task of identifying the measures and actions capable of further raising the ethical principles and standards to be applied in the conduct of the Group’s business and of singling out further actions aimed at guaranteeing the concrete implementation of said principles and standards and maximizing their effectiveness
The Committee, chaired by Giovanni Maria Flick, was composed of Alberto Alessandri, Vittorio Mincato, Giorgio Sacerdoti and Angelo Tantazzi.
The institution of the Committee supports the framework of the broader Governance reorganization and restructuring process launched by Finmeccanica to enhance the efficiency and effectiveness of the Group’s management. This process, among other things, led to the implementation of measures designed to strengthen the control system and to define a new organizational model enhancing integration across the Group and strengthening the Group’s identity and culture.
The Committee also highlighted that by carrying out a deep-reaching and positive governance reform, Finmeccanica was able to give the Group’s parent company an assertive and crucial role in laying down rules and defining the organizational set-up, operational procedures and control tools overseeing the activities carried out by its companies, highlighting that the initiatives adopted revealed to be comprehensively consistent and systemic .
The Committee made several recommendations, which were approved by the Board of Directors and will be implemented by the company’s senior management.
More specifically, the Committee recommended to elaborate a Code of Integrity and Anti-corruption; to appoint an independent body to oversee the drafting of the code; to continue the strenghtening of the internal audit process; to train employees working in areas which are most exposed to risks; to enhance the company’s compliance system.
The complete Report drafted by the Flick Committee and its executive summary can be consulted on Finmeccanica’s Internet Site at the section FLICK COMMITTEE.
Today’s Board of Directors’ Meeting also examined and approved the Group’s 2013 draft of the Sustainability Report.
This year’s is Finmeccanica’s fourth Sustainability Report and it was drafted applying the economic, social and environmental reporting guidelines laid down by the Global Reporting Initiative (the GRI, edition 3.1), the most widely used at International level.
In the application of the GRI 3.1 Guidelines, Finmeccanica’s 2013 Sustainability Report improved its rating to “A+” (from “B+” in 2012), achieving the best reporting score possible.
This result places Finmeccanica among the first A,D&S companies to publish a Sustainability Report that is ranked at this level.
This important achievement, due to a considerable increased number of reported indicators, is a clear sign of the Group’s commitment in favor of Sustainability and of its incorporation into the Group’s business strategy.
The Sustainability Report was elaborated in strict connection with the Group consolidated financial statements recently approved by the Board of Directors, in order to constitute an integrated information platform aimed at representing a point of reference in applying for the Dow Jones Sustainability Indexes, in drafting the reports to be submitted to ESG rating agencies, and in complying with the United Nations Global Compact Initiative.
The 2013 draft of the Sustainability Report highlighted the following aspects:
- Reporting concerned the activity of 362 offices and production sites (149 in terms environmental issues)
- The average age of the Group’s personnel was 43
- The female employment rate was 17.6%
- The percentage of University graduates exceeded 34%
- The number of training hours delivered exceeded 1.29 million (+10% compared to 2012)
- A higher number of labour agreements signed (20 compared to 7 in 2012)
- An accident frequency index of 7.73 (-4% compared to 2012)
- Investments in local communities amounted to over € 9 million (+11% compared to 2012)
- Investments in the Environment, Health and Security sector amounted to over € 40 million (+14% compared to 2012)
The 2013 draft of the Sustainability Report will shortly be made available in Italian and English on Finmeccanica’s Website.
The 2013 draft of the Sustainability Report is undergoing the final audit by KPMG, who are scheduled to issue their Limited Assurance Audit over the next weeks.