The existing interrelationships between Pirelli and its stakeholders are based on the AA1000 Model adopted by the Company.
The Compliance of Pirelli approach with AA1000 guidelines and principles is audited each year by third party, as specified in the Assurance Letter of the integrated annual report.
Pirelli’s role in the economic and social context is inseparably tied to its capacity to create value with a multi-stakeholder approach, which means it pursues sustainable and lasting growth based as far as possible on the fair reconciliation of the interests and expectations of all those who interact with the Company with an awareness of its own global responsibilities as a Corporate Global Citizen, and in particular:
- shareholders, investors and the financial community;
- customers, since the Pirelli way of doing business is based on customer satisfaction;
- employees, who are the repository of Group know-how and drive its development;
- suppliers, with which it shares a responsible approach to business;
- the environment, since it’s the only source of livelihood for all human activities in the present and future time;
- competitors, because improved customer service and market position depend on fair competition;
- institutions, governmental and non-governmental bodies, and the communities around the world where the Group operates.
Dialogue, consultation, engagement processes are tailored to suit each different stakeholder group and can take the form of interviews, surveys, joint analysis, roadshows, focus groups. More than one tool is used with different stakeholders.
Stakeholder-issue interrelationship is deeply analyzed in order to efficiently manage relations with the aim of creating sustainable and shared value.
Our local markets play a fundamental role in managing relationships with local stakeholders.
The feedback we receive from stakeholders informs our judgment about sustainability priorities for our business and feeds into our sustainability strategy through the Group Sustainability Plan, which is fully integrated in the Industrial Plan.
Each year the activity of Stakeholder Engagement as well as relevant feedback is reported in the Integrated Annual Report, in the chapters related to each Stakeholder.
Pirelli provides its shareholders, employees, suppliers, customers, all its stakeholders, and the general public with a channel to report any acts or omissions adopted by any party within Pirelli, in its relations with Pirelli or on its behalf such that constitute or may constitute a violation or inducement to violate laws and/or regulations, the principles enshrined in the Pirelli Values and Ethical Code, principles of internal control, company policies, rules and procedures and/or that can either directly or indirectly give rise to economic, financial or reputational damage for Pirelli Group companies.
The following graphic illustrates the principal areas of value creation and return linked to individual stakeholders.