Piaggio & C. S.p.A. has the conviction that the ethics of its business management is to be pursued in conjunction with the success of the enterprise. (Code of Ethics, art. 1)

Piaggio has a specific governance system inspired by international best practices, which covers all company, decision-making and operational processes, along the entire value chain.

  • The Board of Directors examines and approves strategic, industrial and financial plans, including the annual budget and Group's Business Plan, supplementing main guidelines to promote a sustainable business model and lay the foundations for creating long-term value. The Board approves the CSR Report and Consolidated Non-Financial Statement pursuant to Legislative Decree 254/16 (NFS).
  • The Audit, Risk and Sustainability Committee, in addition to supporting the Board of Directors' assessments and decisions on the internal control and risk management system, has an advisory function with the Board of Directors on sustainability issues such as:
    • examining and assessing sustainability issues related to business operations and the dynamics of interaction with stakeholders;
    • examining and assessing the system for collecting and consolidating data for the Corporate Social Responsibility Report and the "Consolidated non-financial statement" referred to in Legislative Decree 254/2016;
    • examining in advance the Corporate Social Responsibility Report and the "Consolidated Non-Financial Statement" pursuant to Legislative Decree 254/2016, formulating an opinion for approval by the Board of Directors;
    • monitoring the Company's positioning on sustainability issues, with particular reference to the Company's position in ethical sustainability indices;
    • providing opinions on any additional sustainability issues, on the request of the Board of Directors.
  • The Executive in charge of financial reporting prepares the Non-Financial Statement and CSR Report, assisted by the CSR Manager. S/he presents both documents to the Audit, Risk and Sustainability Committee, and then, submits them to the Board of Directors for approval.
  • As delegated by the Executive in charge of financial reporting, the CSR Manager manages all activities related to sustainability, through the "Consolidated Financial Reporting" Function: defining the Sustainability Plan and monitoring progress, preparing reporting, relations with international organisations. 
  • The Ethics Committee develops rules and organisational behaviour in line with international best practices in the field of Corporate Social Responsibility.

The Committee's duties include the following:

  • monitoring instruments, conduct and relations between management and company personnel and all stakeholders;
  • optimising relations with local communities and stakeholders;
  • measuring ethical standards, which are an integral part of the good governance of a company;
  • implementing the provisions in the Code of Ethics, including receiving and managing reports of fraud that may involve employees, managers and partners of Piaggio & C. and Group companies.

All operations concerning relations between the Piaggio Group and the external world are analysed and revised by the Committee, with the aim of guaranteeing to all stakeholders that the information cycle is managed transparently. Starting from the assumption that transparency best describes the purpose of corporate social responsibility today, the Committee acts as a "guarantor" for investors, consumers and opinion leaders, to make sure company conduct is based on conformity to laws at all times, on fairness and on the truthfulness of disclosure to the public.

Code of Ethics

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Organisational, Management and Control Model pursuant to Legislative Decree 231 of 8 June 2001

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