05/04/2022 | Press release | Distributed by Public on 05/04/2022 03:35
Padua, May 4, 2022 The Board of Directors' approval of "Made to Matter - Our commitment to making the difference", SIT's Sustainability Plan to 2025, formalizes a series of best practices that the listed multinational, leader in the creation of intelligent solutions to control environmental conditions and measure consumption in the areas of Heating and Metering, has been working on and developing since its foundation. Ethical and responsible business conduct, focus on the environment and social responsibility have always been cornerstones of SIT's ability to generate constant, lasting, and sustainable economic growth over the decades.
The Plan, which will be presented today by SIT management via an online stream at 12PM (at meet.google.com/xyj-yuiy-vtx), is backed by economic resources (Capex/Opex) of over Euro 8 million, which are already included in the operating and financial forecasts. SIT foresees an 8% reduction in CO2 emissions and the installation of new photovoltaic systems that will increase the company's share of renewable energy by 12% (+18% in the Italian perimeter).
"SIT wants to lead the energy transition by acting as a sustainable partner in creating solutions to improve energy efficiency and protect natural resources," states Chiara de' Stefani, SIT's Corporate Sustainability Director. "It isno coincidence that we have named this plan 'Made to Matter,' as it constitutes a concrete commitment to undertaking projects that matter and which make a real difference both in our industry and to the economic and social environment overall. The plan states how SIT will continue to generate long-term sustainable value across every aspect that links our company and our stakeholders."
SIT operates in key global sectors enabling energy transition technologies, developing essential components for domestic heating and consumption measurement appliances. It has always played a key role in the pursuit of sustainable development, driving innovation and ongoing environmental improvements.
The achievement of the Company's strategic business objectives is also based on sustainability targets and over the years SIT has therefore followed an integrated path of "Innovability": innovation and sustainability aligned with business performance.
As part of this journey, in which the stock market listing created new opportunities and responsibilities in pursuit of sustainable economic success, the Board of Directors established a Sustainability Governance system in 2021, appointing a Corporate Sustainability Director and a structure dedicated to defining, introducing and executing each of its ESG initiatives and projects.
Made to Matter: the Plan - Reflecting SIT's articulated business model, the Plan imagines the Company's near future and sets out its strategy and direction, with the goal of accelerating sustainable change. The plan is divided into three macro areas:
Digitalization, Technological Innovation, and Lean Culture support transformation and enable organizational and SIT product development processes, thereby constituting cross-cutting and enabling elements of the plan.
The action defined in the plan seeks to contribute to the achievement of 11 Sustainable Development Goals of the UN 2030 Agenda. More than 50 initiatives and projects are envisaged, involving every area of the Company and providing for significant economic investments over the plan period.
SIT's key sustainability goals to 2025[1] (full details can be found in the presentation available for download at www.sitcorporate.it /Sustainability):
MADE BY US
MADE FOR FUTURE
MADE WITH CARE
Digital Transformation, Innovation and Lean Culture - SIT develops its potential through digital innovation, to offer its customers digital and sustainable services
[1] Where not specified, these are goals and projects scheduled to be achieved within the timeframe of the plan.