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Sustainability Strategy and ESG Model
The five pillars of our ESG model: Governance, Climate and Emissions, Business Sustainability, People and Community.
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[...] We strive every day to integrate sustainability principles into our business model, in cooperation with all stakeholders. We build strong relationships of trust and transparency with our customers by involving them directly in order to develop solutions that are increasingly in line with their expectations, promoting responsible consumption patterns and actively spreading the culture of sustainable energy use. We consider people to be at the centre of our organisation, investing in training programmes and promoting initiatives for well-being and inclusiveness. We also value our suppliers' commitment to environmental, social and governance issues, rewarding innovation, continuous improvement and medium- to long-term collaboration. [...]
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Text extrapolated from the message to Stakeholders by Plenitude CEO Stefano Goberti in the Sustainability and Impact Report 2023. Download the full Sustainability and Impact Report 2023 to learn more about our sustainability strategy integrated into the business model and ESG performance in 2023.
Our sustainability strategy, integrated into our business model, is based on five pillars: Governance, Climate and Emissions, Business Sustainability, People and Community.
These are closely related to the aims of common benefit that, as a Benefit Corporation, we pursue in our Articles of Association, fulfilling the regulatory requirements required of Benefit Corporations by Law No. 208/2015.
Through the aforementioned business model, we are committed to contributing to 10 of the 17, we actively contribute to 10 of the 17 Sustainable Development Goals (SDGs) defined by the United Nations 2030 Agenda: SDG 3 (Good Health and well-being), SDG 4 (Quality education), SDG 5 (Gender equality), SDG 7 (Affordable and clean energy), SDG 8 (Decent work and economic growth), SDG 9 (Industry, innovation and infrastructure), SDG 11 (Sustainable cities and communities), SDG 12 (Responsible consumption and production), SDG 13 (Climate action), SDG 17 (Parnerships for the goals).
The 5 pillars of our ESG model
Governance
Corporate governance is the Company's administration and control system, the instrument for creating lasting value for shareholders and all stakeholders.
Governance is based on the Company's values, which guide the performance of activities in compliance with the principles of integrity and transparency, promoting ethical behaviour and inclusive culture, and contributing to building a relationship of trust between the Company and its stakeholders.
| KPI | RESULTS 2023 |
Economic value generated | 11.133 (mln euro) |
Economic value distributed | 10.849 (mln euro) (97%) |
Economic value retained | 284 (mln euro) (3%) |
Business conduct | Attribution of the 35% weight of CEO and top management long-term variable remuneration linked to ESG KPIs |
Audit interventions | 10 |
Audit interventions with anti-corruption verifications | 5 |
Audit interventions on processes that contribute to SDG targets | 9 |
Cybersecurity & Data Protection | No episodes of data breaches (in line with 2022) |
Climate and emissions
To achieve Scope 1, 2 and 3 carbon neutrality by 2040, Plenitude defined a decarbonization strategy based on increasing the installed capacity of renewable energy production plants, offering energy solutions to reduce consumption, progressively offsetting the CO2 emissions from gas combustion by customers and developing electric mobility services.
| KPI | RESULTS 2023 |
| Installed capacity | 3 GW [1] (+0,8 GW vs 2022) |
Wind power | 36% (1.1 GW) |
Photovoltaic (including storage) | 64% (1.9 GW) |
Energy production from renewable sources | 3,98 TWh (+56% vs 2022) |
Photovoltaic | 44% (2.244 GWh) |
% power certified through guarantee of origin certificates over total energy sold at European level | 69% (+3 pp vs 2022) |
Proprietary charging points at European level | 19.000 (+45% vs 2022) |
Scope 1, 2, 3 emissions (Location based) post offset | 11,3 Mt CO2eq. (-21% vs 2022) |
Scope 1 emissions | 4.203 t CO2eq. (-14% vs 2022) |
Scope 2 emissions (Location based) [2] | 6.324 t CO2eq. (+75% vs 2022) |
Scope 2 emissions (Market based) [3] | 4.119 t CO2eq. |
Scope 3 emissions | 13,7 Mt CO2eq. (-9% vs 2022) |
Offsetting emissions through the purchase of carbon credits[4] | 2,4 Mt CO2eq. |
GHG emissions avoided due to energy production from renewable sources | 1.5 Mt CO2eq. (+27% vs 2022) |
Number of LEED (Leadership in Energy and Environmental Design) certified offices and flagship stores | 3 offices in Italy (2 in Milan and 1 in Pozzuoli) 5 flagship stores in Italy (Milan Buenos Aires, Padua, Bologna, Parma and Vicenza) |
| Number of BREEAM (Building Research Establishment Environmental Assessment Method) certified offices | 1 headquarter in France |
[1] The figure includes 0.38 GW related to the acquisition of 3 photovoltaic plants in the United States (agreement signed in December 2023 with the closing in February 2024).
[2] For more information on the trend in emissions compared to last year, see section ‘2.2 Direct and indirect emissions‘.
[3] Comparison with the 2022 figure not available, since the Energy indirect (Scope 2) GHG emissions Market-based calculation methodology was adopted starting from 2023.
[4] In accordance with the Plenitude 2023 Sustainability and Impact Report, following the availability of the volumes billed in the fourth quarter of 2023, an additional 322,237 t CO2eq have been retired and will be reported in the Plenitude 2024 Sustainability Report and Impact Report, as part of the calculation of Scope 3 for the year 2024.
Summary of the Operating Instruction: “Retirement of Carbon Credits”
Business Sustainability
Plenitude manages its activities with respect for all stakeholders and works to use natural resources responsibly, pursuing a sustainable business model that integrates ESG aspects throughout the value chain.
| KPI | RESULTS 2023 |
Total number of customers (mln supply points) | 10,1 mln (in line with 2022) |
Satisfied customers | 82,5% (in line with 2022) |
Net Promoter Score[5] - Retail Italy | 2,94x compared to 2018 (2,7x nel 2022) |
Digital bills at European level[6] | 49% (+9 pp vs 2022) |
| New suppliers assessed using social criteria | 100% (in line with 2022) (Eni Plenitude SpA Società Benefit – Head Quarter) (in linea con il 2022) |
Processes with ESG assessment | 95% of procurement of Eni Plenitude SpA Società Benefit - HQ |
[5] Net Promoter Score (NPS), an indicator that measures the probability that a customer would recommend Plenitude to a friend or a colleague, which helps assess customers’ satisfaction with the company.
[6] Includes Italy, France, Iberian Peninsula, Greece and Slovenia.
People
Plenitude values its people, guaranteeing paths of personal and professional growth; it protects their health and safety, as well as their psycho-physical well-being, in a climate that respects diversity and inclusion.
| KPI | RESULTS 2023 |
Staff composition at 31.12: 2.557 (2.347 in 2022)
| 47,7% women (44.9% in 2022) 52,3% men (55.1% in 2022) |
Employees by employment contract | 2.526 permanent contract (+10% vs 2022) 31 fixed-term contract (-37% vs 2022) |
Gender Pay Ratio | 98 for fixed remuneration (97 in 2022) 97 for total remuneration (98 in 2022) |
Training hours | 84.706 hours (58,059 hours in 2022) 34,5 average hours per capita (+27.8% vs 2022) |
Managerial positions in Italy and abroad held by women
| 41% (+1.9 pp vs 2022) |
Total Recordable Injury Rate
| 1,09 (0.23 in 2022) (total recordable injuries/hours worked) x 1,000,000 |
Communities
Plenitude is committed to creating shared value in the territories in which it operates, both by spreading the culture of sustainable energy usage in favor of a collective commitment to the energy transition, and by supporting initiatives aimed at sustainable and inclusive local development.
| KPI | RESULTS 2023 |
Spreading the culture of sustainable energy use | Via Instagram: Promotion of electric mobility >4 million users of coverage Energy efficiency projects at music events, |
Support for local communities | 3,75 million € invested in supporting local communities (+80% vs 2022) |
Combating energy poverty | Supported 9 projects on Italian territory |
Combating educational poverty | Supported 5 projects on Italian territory |
Local development | 27 Italian elementary school involved in "The more I know, the less I consume" project In Italy, where Plenitude operates in the power production from renewable sources, urban redevelopment and energy efficiency interventions in municipal buildings and public lighting were supported |
Corporate volunteering | 2 days per capita per year of paid leave for corporate volunteering for Plenitude people |
Stakeholder engagement and Materiality
For us at Plenitude, direct involvement of all stakeholders and constant dialogue are key elements in creating shared value and establishing relationships of trust, transparency and integrity. For this reason, in addition to giving a voice to all its stakeholders on an annual basis, directly involving them in the definition of priority sustainability issues, we constantly strive to promote an open and transparent dialogue aimed at sharing information, values and visions.
During 2023, we updated our materiality analysis, as the process of identifying sustainability issues relevant to the business and its stakeholders. In line with the previous year, we adopted a methodological approach based on the impact materiality or materiality guidelines, described by “GRI 3: Material Topics 2021”. The process involves identifying material topics on the basis of the materiality, as the level of benefit or severity, of the related positive and negative impacts, current and potential, that it generates or could generate on the economy, society (including human rights aspects) and the environment.
The materiality analysis process involved four main steps:
1
Analysis and understanding of the context and the organisation
Preliminary analysis to update the list of potentially relevant topics for Plenitude and the target sector, considering:
- peers and comparable companies
- external context
- internal context
2
Identification of impacts (inside-out)
Analysis to update the current and potential negative and positive impacts that the Company generates or could generate in relation to the issues previously identified, considering:
- peers and comparable companies
- external context
- internal context
3
Assessment of impacts significance
Selection of a positive and a negative impact for each potentially relevant topic where applicable.
Evaluation, by means of an online questionnaire, of the above-mentioned impacts according to their significance by top management and over 1200 stakeholders.
4
Prioritisation of topics based on the significance of their impacts
Consolidation of the results of the online questionnaires and preparation of a prioritized list of material topics, based on stakeholders' perceptions of the significance of related impacts.