The materiality matrix provides a summary framework of the topics which could potentially influence the actions and performances of Piaggio, its stakeholders’ decisions, as well as the level of "alignment" or "misalignment" between the priority of intervention that stakeholders attribute to the different topics and the level of commitment that the Group takes on relative to them.
The analysis process was conducted by the Group Consolidated Financial Statements and Sustainability Unit. This process was divided into 4 phases:
- Identification of sustainability issues;
- Identification and engagement of relevant stakeholders;
- Assessment of the significance of topics;
- Approval by the Board of Directors.
The stage to identify sustainability topics that are relevant for the sector and Piaggio was based on a number of sources, including company policies and principles of conduct, the 2019 Sustainability Report and stakeholder engagement initiatives.
The Piaggio Group has always paid considerable attention to engaging with stakeholders, i.e. all entities inside and outside the organisation whose activities have an impact on company operations. In fact stakeholders are defined as having an interest in or various expectations (social, economic, professional, human) of the company.
Based on this definition, the Group has identified categories of stakeholders in relation to its operations, described in full in the section "Stakeholder engagement".
The Group's top managers and a small but representative sample of categories of external stakeholders were requested to compile a materiality form, combined and used to construct the materiality matrix. The 15 topics previously selected were positioned along the two axes:
- the x-axis shows the significance for Piaggio;
- the y-axis shows the significance for external stakeholders.
Of the 15 topics identified, only biodiversity did not exceed the materiality threshold. Piaggio's production sites are not located in protected areas or areas with high levels of biodiversity. The sole exception is the Scorzè site, which although located in an industrial zone, conveys its waste water into the drainage basin of the Venetian Lagoon. As such, the production site is subject to restrictions imposed by specific laws.
The 2020 matrix was examined and approved by the Board of Directors of Piaggio & C. S.p.A. in the meeting of 25 February 2021.