The FTSE4Good Semi-Annual June 2015 Review conducted by FTSE has reconfirmed Pirelli in the share indices for responsible investment of the London Stock Exchange FTSE4Good – Automobile & Parts – with a top ESG rating of 100 points out of 100 for the fourth year in a row.
The FTSE4Good Series is designed to help investors integrate environmental, social and governance (ESG) factors into their investments.
The indices identify companies that better manage ESG risks and are used as a basis for tracker funds, structured products and as a performance benchmark.
The ESG Ratings are used by investors who wish to incorporate ESG factors into their investment decision making processes, or as a framework for corporate engagement and stewardship.
Pirelli has been a member of CSR Europe since 2010. This network of enterprises in Europe that are leaders in corporate social responsibility includes over 60 multinational corporations and 40 national partners with branches in 29 European countries, which allows them to cooperate and share experiences to become the global leaders in sustainable competitiveness and social wellbeing.
In support of this alliance, the most important figures of CSR Europe were welcomed at Pirelli headquarters on Thursday, June 18, for the CSR Europe General Assembly 2015. Filippo Bettini, Chief Sustainability and Risk Governance Officer, opened the event.
The general assembly was the prelude for the conference that will be held today, Friday, June 19, in the Expo auditorium for “Last Call to Europe 2020”“, dedicated to corporate sustainability during the months of Expo Milano 2015
➔ Pirelli participates in Last Call with Filippo Bettini, Chief Sustainability and Risk Governance Officer
Cities and technologies continue to develop, subjecting the environment to greater stress. By 2050, 70% of the population will live within urban areas, which implies the need to develop universally accessible urban mobility with low environmental impact. Municipal administrations, private corporations, and NGOs have the duty and opportunity to work together to achieve these ambitious and necessary objectives.
Transportation has a primary influence on emissions, especially the use and production of automobiles and their components. As a result, tires, which are one of the factors that most influence the energy efficiency of an automobile, are fundamental elements for the reduction of auto emissions. At the same time, there is a demand for reduced consumption of energy, water resources, and raw materials during production.
This context is an opportunity for growth for Pirelli, where product and process innovation play a key role and the benefits combine higher profits and more safety for people and the environment.
Pirelli has developed “Green Performance” tires that ensure safety and a respect for the environment. In 2014 Green Performance tires already made up 46% of our overall turnover, which is a sharp increase compared to 35% in 2011. The objective is to reach 48% by 2017. Moreover, by 2020 we will reduce the rolling resistance of our products by 40% (compared to 2007). At the same time, we are currently working on production process efficiency to further limit environmental impact and to reach these objectives for improvement (compared to 2009 data) by 2020: a 15% reduction in CO2 emissions, an 18% reduction in energy consumption, a 58% reduction in water consumption, and an increase of between 73 and 95% in the recovery of production scraps. During 2014, Pirelli obtained (compared to the previous year) a 2% reduction in specific CO2 emissions, a 19% reduction in water consumption, and a 3% increase in waste recovery, which helped achieve cost efficiencies equal to 92 million euros.
All this, combined with cooperation with other exponents in the sector, is at the heart of a corporate approach that makes sustainability an opportunity for growth.
DECIDES TO DISTRIBUTE DIVIDEND OF 0.367 EURO PER ORDINARY SHARE AND 0.431 EURO PER SAVINGS SHARE
IGOR SECHIN, DIDIER CASIMIRO, ANDREY KOSTIN, IVAN GLASENBERG, PETR LAZAREV AND IGORSOGLAEV CONFIRMED AS COMPANY DIRECTORS
NEW AUDIT COMMITTEE NOMINATED
RENEWS AUTHORIZATION FOR BUY-BACK AND DISPOSITION OF OWN SHARES
AUTHORIZES STIPULATION OF D&O INSURANCE POLICY
FAVOURABLE VOTE ON REMUNERATION POLICY
A meeting of the shareholders of Pirelli & C. SpA took place today, in ordinary session, and approved results for 2014, which ended with a consolidated net profit of 332.8 million euro and parent group net profit of 258.0 million euro, decided on the distribution of a dividend of 0.367 euro per ordinary share and 0.431 euro per savings share. The date of dividend payment is May 20th, 2015 (ex-coupon May 18th, 2015 and record date May 19th, 2015).
The Shareholders’ Meeting then approved the proposal from Camfin S.p.a. to confirm as members of the Board of Directors Igor Sechin, Didier Casimiro, Andrey Kostin, Ivan Glasenberg, Petr Lazarev and Igor Soglaev. Andrey Kostin and Ivan Glasenberg declared their suitability to qualify as independents. The mandates of the directors nominated will expire at the same time as that of the current Board of Directors that is with the approval of results for the year ending December 31st, 2016.
The board members’ curricula can be found online at the Company’s website www.pirelli.com.
The Shareholders’ Meeting also nominated, using the slate system, the Company’s new Audit Committee for the years 2015, 2016 and 2017, which is composed of Francesco Fallacara, nominated chairman, Antonella Carù and Fabio Artoni as standing auditors and Andrea Lorenzatti, Fabio Facchini and Giovanna Oddo as alternate auditors. The chairman of the new audit committee and the alternate auditor were taken from the minority slate (voted by 29,99% of the capital represented at the Shareholders’ Meeting) presented by a group of savings management companies and financial intermediaries, while the other names were taken from the majority slate (voted by 52,97% of the capital represented at the Shareholders’ Meeting) presented by Camfin S.p.A. Compensation of 50,000 euro for the standing auditors and 75,000 euro for the chairman of the audit committee was established.
The curricula of the new auditors can be seen online at the Company’s website www.pirelli.com.
The Shareholders’ Meeting also authorized the Board of Directors to stipulate a D&O insurance policy and the buy-back and disposition of own shares up to 10% of Company Capital and for a maximum period of 18 months, thus renewing the previous authorization decided on June 12th, 2014. In this regard it should be noted that, up to today, no shares have been bought under the previous authorization.
The Shareholders’ Meeting also voted in favour of the Policy in matters of remuneration with 85% of voting capital at the Shareholders’ Meeting.
It should be noted that the 2014 Annual Report will be available to the public at the Company’s headquarters in Milan at Viale Piero e Alberto Pirelli 25 and at Borsa Italiana S.p.A. and can also be seen online at www.pirelli.com. and through the authorized storage mechanism.
The minutes of the Shareholders’ Meeting will be made available to the public in the same manner as above, as well as through the authorized storage mechanism (www.emarketstorage.com) by June 14th, 2015.