WORKING TOGETHER FOR SUSTAINABLE GROWTH - Guala Closures Group
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SUSTAINABLE DEVELOPMENT ANNUAL REPORT 2019
WORKING TOGETHER FOR
SUSTAINABLE GROWTH
COMPANY OVERVIEW
Company history
SUMMARY
LETTER FROM MARCO GIOVANNINI AND FRANCO BOVE ..................................................... 4
OMPANY OVERVIEW............................................................................................................................................... 7
C
ORPORATE SOCIAL RESPONSIBILITY: VISION AND ACTION ......................................... 39
C
LOCAL ENGAGEMENT............................................................................................................................................. 67
ORLDWIDE PLANTS OVERVIEW ............................................................................................................ 77
W
ANNEXES ........................................................................................................................................................................103
2_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _3
COMPANY OVERVIEW
Letter from…
The publication of the 9th edition of our Annual Although fully aware of the difficulties that lie There are 4 key principles, respect, tolerance,
Sustainable Development Report takes place at a ahead and the great changes to be made, our ethics and solidarity. And it is precisely the
time of exceptionally severe health challenge and Group has, however, more reasons to look forward same spirit of solidarity that has manifested
on the eve of a worldwide economic and social with confidence. itself everywhere in the world to counter Covid
crisis of unprecedented size. Our first thoughts go The health crisis we are going through requires 19 which should guide all of us to get out of
to all those who, in recent months, have fought a new look at our most precious capital: people. the crisis and guarantee everyone health, work,
this subtle, invisible, deadly enemy that generates All different and unique, women and men, young safety and well-being.
fear, distrust and concern for the future, in the and old, with their challenges to face and win in In our 2016-2022 sustainable growth program,
personal as well as in the professional sphere. In personal and professional life. Our challenge, environmental and social goals are more impor-
the Group, in every plant, all possible measures as a Group, is to resume our activities, to find tant than ever.
have been enforced to guarantee the safety and our way back to growth, putting people and the
health of all employees. We have also taken out We are halfway there and there is still a lot to
environment at the center. do. The crisis is not and will not be an excuse to
an insurance policy that covers all our employees
around the world if they fall ill due to Covid 19. To the three Group values «Excellence, Inno- ease efforts and investments. Indeed, it tells us
vation and Sustainability», we have decided to that there is no more time to waste.
At the same time, we are committed to main- add that of «Diversity & Inclusion». At the end
taining production and the guarantee of supply Let’s move forward, united, determined and
of 2018, we started a reflection process that confident.
to our customers worldwide wherever possible. involved all the Business Units. The fruit of this
After a positive 2019, the impact of the crisis on work led to the development of a «Charter of Many thanks.
the first months of 2020 is already considerable,
and 2020 performance will be affected.
diversity and inclusion», which will be launched
during the year.
Marco Giovannini & Franco Bove
MARCO
GIOVANNINI
FRANCO
BOVE
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COMPANY
OVERVIEW
SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _7
COMPANY OVERVIEW COMPANY OVERVIEW
Company history 2019 HIGHLIGHTS
• Dutch subsidiary Guala Closures In-
2019 highlights
ternational B.V. approved the establi-
shment of a new company in Belarus.
We started up a new production unit
1954 • Guala is founded for the production of plastic 2008 • Acquisition of the Technologia Closures 2016 • Acquisition of CAPMETAL in France Debiti in Minsk
occum (Belarus)
vent at the
autectem endmodi
reped of 2019.
officip
components. plant in Ukraine. in December 2016. sandaecus por maximilitas eaquiae. Et eaque
The plant in Kenya started production
• Guala Closures exits the Italian stock market. • GCL Technologies founded in Foetz (LUX). mo conseque
in Februaryet re occusci urehendebita
2019.
1960 • The first patented models of non-refillable porerestorum voluptatur aut. Debiti occum por
closures are produced. We moved production to Scotland to
2009 • The Pharma division is established 2017 • Acquisition of Axiom Propack Pvt Ltd in India. maximilitas eaquiae. Et eaque mo conseque
with head office in Vasto. the Bridge of Allan plant.
• Acquisition of the activities of LIMAT S.A. de C.V. et re occusci urehendebita porerestorum
1998 • Marco Giovannini becomes leader. in Mexico and of the activities of ICSA in Chile. The PET
voluptatur aut.plant of Guala Closures Iberi-
Guala Closures Group is established 2010 • Eastern Europe expansion: Guala Closures acquires ca in Alcalá De Henares (Madrid) was
and sponsored by private investors. • Opening of GCL Technologies.
Danik in Bulgaria and DGS in Poland. definitively closed at the end of July.
2000 • After Spain, Mexico, Brazil, Colombia and India, 2018 • Start up production in Chile. We reorganized the Group’s activities
2011 • Acquisition of Metalprint in Magenta (Italy),
international expansion continues into Argentina, degreasing, cutting, and lithography plant. • Ordinary shares and market warrants traded in France and China during the year.
China and Russia. on the Italian Stock Exchange.
2012 • Acquisition of Metal Closures Industries • Incorporation of a new company in Kenya, • A review of the ethical/social policy
2003 • The Aluminium Division is established - in South Africa. named Guala Closures East Africa Limited. was published which, in addition
Global Cap SpA is acquired. • Merger process between group companies: to drawing attention to full respect
• Guala Closures Group now has 21 production 2014 • Guala Closures Group celebrates 15 years Guala Closures (India) Pvt Limited and its
for human rights, highlights: our
plants worldwide. in the business and 60 years in the business subsidiary Axiom Propack (Pvt) Limited
for the Guala Group. (acquired in 2017). employees, suppliers and external
2004 • A new production plant is built in Mexico. • Inauguration of the first production plant in • Acquisition of United Closures and Plastics communities and other stakeholders.
Fairfield, California, featuring a modern and (UCP) in UK.
2005 • Guala Closures North America Inc. is established avant-garde Design Studio. • We updated of the materiality as-
to sell products on the US and Canadian markets. sessment with internal and external
• Guala Closures is listed on the Italian stock 2015 • Guala Closures Group present at EXPO Milan. stakeholders in order to take into
market: 22 November 2005. Opening Guala Closures DESIGN STUDIO Italia account the Group’s continued deve-
at Basaluzzo.
lopment and its stock market listing.
2006 • New sales offices are opened in North America • New offices and HQ in Luxembourg.
and France, as well as new production plants. • New plant opening in Santiago de Chile. • We launched new chip-readable clo-
2007 • The new production plant is inaugurated sures (NFC) in the United States. They
at Spinetta Marengo HQ. have started the process of digitising
the packaging.
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COMPANY OVERVIEW COMPANY OVERVIEW
Our presence around the world Our presence around the world
GUALA CLOSURES GROUP Oceania
Europe • Australia : Melbourne
• Italy : Group Holding • New Zealand • Auckland
• Luxembourg : International Holding Asia
• Netherlands : International Holding • China : Beijing
• India : Ahmedabad • Daman • Dharwad • Goa
GUALA CLOSURES’ PLANTS
Africa
Europe
• Kenya : Nairobi
• Bulgaria : Kazanlak
• South Africa : Cape Town
• Belarus : Minsk
• France : Chambray
SALES OFFICES
• Italy : Magenta • Spinetta Marengo • Termoli • Vasto
• Luxembourg : Foetz Europe
• Poland : Wloclawek • France : Tours
• Spain : Jerez de la Frontera • Olerdola South America
• Ukraine : Sumy • Argentina : Buenos Aires
• United Kingdom : Kirkintilloch • Bridge of Allan
Asia
North America • Japan : Tokyo
• Mexico : San José Iturbide
• USA : Fairfield (California)
South America
• Argentina : Chivilcoy
• Brazil : São Paolo
• Chile : Santiago de Chile
• Colombia : Bogotá
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COMPANY OVERVIEW COMPANY OVERVIEW
Our Group in a few figures Our Group in a few figures
29 PLANTS 5 RESEARCH AND 30
€606.5 MILLION NATIONALITIES
TURNOVER 2019 3 SALES OFFICES DEVELOPMENT
CENTRES REPRESENTED
MORE THAN
SALES NETWORK IN OVER 6 CATEGORIES 33.15 HOURS 310,000 TREES
100 COUNTRIES OF PRODUCTS OF TRAINING PER PERSON
PLANTED SINCE 2011
OVER MORE THAN MORE THAN
16 BILLION 170 PATENTS 4,764 200,000 TONNES
CLOSURES AND INTELLECTUAL EMPLOYEES OF CO2 OFFSET
PROPERTY RIGHTS WORLDWIDE
PRODUCED IN 2019 SINCE 2011
Data updated as on 31 December 2019
12_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _13
COMPANY OVERVIEW
Value creation
MEGA TRENDS TECHNOLOGICAL
CHANGES
LONG TERM
ENVIRONMENTAL ISSUES
HEALTH, SAFETY
AND WELLBEING
NEW CONSUMER
EXPECTATIONS
At Guala Closures Group, we manufacture
closures that offer innovation, protection, MOBILIZED RESOURCES PRODUCTION OUR MARKETS AND PORTFOLIO OUR CREATED AND SHARED VALUE
safety and convenience to consumers
while enhancing our customers’ brands. NO
IES N-
We built our business model on our vision FINANCIAL CIT RE FINANCIAL
PA FI
and our values by relying on our resources investments € 31.6 million CA LL Turnover: 606.5 Million euros / EBITDA: 113.5
G
(capital expenditure, net of disposal)
AB
IN
and our production capacity to offer our cus-
SPIRITS MANUFACTURAL
IS
LE
OM
tomers quality and value-added products.
SY
MANUFACTURAL over 16 billion closures produced in 2019
ST
ST
ALUMINUM
CU
We create economic, social and environmen- 29 plants
EM
INTELLECTUAL
S
tal value that benefits all of our stakeholders
and thus help strengthen our group and
INTELLECTUAL TRANSFORMATION WATER AND Over 170 international patents registered
our customers’ performance.
5 research and development centres,
25 researchers PROCESS WINE BEVERAGE
in the field of product protection,
Over 20 new products developed in 3 years
HUMAN HUMAN
OUR VALUES
4,764 employees worldwide 33.15 training hours / employee
+ 739 agency workers
OIL AND SOCIAL AND RELATIONSHIP
SOCIAL AND RELATIONSHIP PET VINEGAR 39 communities, 1000 beneficiary families
regular dialogue with corporate for Yucatan reforestation program ;
TRANSPARENCY PLASTIC
TAM
and local stakeholders 26 villages in Gujarat plantation program
PE
TRANSFORMATION
S
R-
PROFESSIONALISM NATURAL NATURAL
EM
PHARMA
EV
PROCESS
T
EN
YS
1,400,173 GJ of energy and 200,000 tons eq CO2 offset since 2011,
ID
TS S
G
273,784 m3 of water consumed YS IN 310,000 trees planted since 2011
PROTECTION AND WELL-BEING T EM C AP
P
S
OF THE ENVIRONMENT
ACKNOWLEDGING AND
REWARDING RESULTS STRATEGIC AXES EXCELLENCE INNOVATION SUSTAINABILITY
14_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _15
COMPANY OVERVIEW OUR TOP MANAGEMENT IS
Our missions and values •C
ommitted to promoting the company values
so that they are used as a reference for
the correct development of all internal and
external activities.
•C
ommitted to promoting and sharing ‘Cor-
porate Responsibility’ and Group objectives
EXCELLENCE
at all levels.
OUR VISION • Committed to sustaining and providing the
resources needed to achieve the objectives.
INNOVATION
We manufacture closures that offer innovation,
protection, safety and convenience to • Committed to analysing results and perfor-
consumers while enhancing our customers’ mance, and verifying the effectiveness of
brands.
SUSTAINABILITY
the objectives achieved.
All our governance processes, values, corporate
responsibility and various commitments are
part of our ISO 9001:2015 system and audited
accordingly by Bureau Veritas.
OUR CORPORATE VALUES
At Guala Closures, we make • Transparency: clarity, completeness and
closures that protect and
correctness of information in our business
activities and in our interpersonal relations.
enhance our customers’ • Professionalism: personnel training and
growth in the pursuit of constant development.
products. • Defence and well-being of the environment:
OUR MISSION
safety and health in the products’ working
environment, and of the impact on commu-
nities close to our production sites.
We understand and embrace our clients’ goals
as our own, applying creativity, experience, • Acknowledging and awarding results: full
integrity and dedication to deliver them superior sharing of the goals and objectives’ evaluation
closures and solutions while reducing our criteria to enhance and reward all human
environmental impact on society. resources.
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COMPANY OVERVIEW COMPANY OVERVIEW
Our markets and brand portfolio Spirits market
Guala Closures products are designed, manufactured and distributed worldwide and cover six product categories: Spirits, Wine, Oil and Vinegar, Water
and Beverages, Pharma and PET. All the products are sold to two types of customers: multinational and local customers (more details can be found
in the Plants section). The quoted percentages derive from the Group's 2019 turnover with the named categories accounting for 97.2% with a balance
of 2.8% from other revenues.
Spirits / Luxury........................... 66.3% Wine................................................... 17.8% Water and beverages................. 8.9% Guala Closures Group stands out as the
Technological innovation has provided alcohol producers with Wine is more stable over time and its delicate balance For this sector, we produce aluminium closures for glass key partner of spirits manufacturers.
solutions that make it increasingly difficult and demanding does not change during transport. Finally, the closures of bottled gaseous and non-gaseous drinks, fruit juices
to counterfeit packaging and protect the brand’s image. Guala Closures make it easier to open and close the bottle, and non-alcoholic drinks. It supplies some of the most We are able to design totally customised
www.savethespirits.com maintaining the quality and taste of the wine for longer. important international brands with generic or “tamper closures in an infinite range of colours,
www.winedevelopers.com evident” closure systems, i.e. capsules with a patented shapes, sizes and materials to meet the
www.savethewines.com system that allows the first opening of a bottle to be
highlighted. All closures are personalised with the best needs of customers and to enhance their
graphic techniques to maximise the brand’s image. brand image.
Our technological innovations provide
spirits manufacturers with solutions that
make the counterfeiting of packaging in-
creasingly difficult. We proactively address
Oil and vinegar................................ 2.0% Pharma................................................. 1.3% PET.......................................................... 0.9% strategic issues in this market, including
the need of premiumisation and of diffe-
For the oil sector Guala Closures supplies a diversified range We are able to offer a wide range of solutions, often It groups together the production of containers such as
of long and short capsules, pourers specifically designed customised to meet the needs of customers and the market. bottles, jars, flasks and miniatures with a volume capacity
rentiation.
for the viscosity of the oil in order to allow perfect pouring The range includes plastic and aluminium closures, rubber ranging from 20 ml up to 5 litres and collar finishes between
and anti-drip devices to prevent dripping that could occur closures, single-dose vials and PET bottles in an infinite 18 mm and 110 mm, thanks to a very modern equipment
when pouring of the liquid is interrupted. range of colours, sizes, shapes and materials. together with one-stage and two-stage procedures.
www.salvalolio.com www.gclpharma.it
18_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _19COMPANY OVERVIEW COMPANY OVERVIEW
Luxury market Wine market
Guala Closures wine screwcaps have been
Passion is the soul of Luxury. adopted by leading wine manufacturers
in five continents due to the benefits they
The artisans dedicate themselves to the
offer with respect to traditional corks:
pursuit of perfection. Luxury Closures
they have no impact on the organoleptic
seeks to reflect both brand luxury and
qualities of the wine, avoiding oxidation
perfection, introducing a unique solution.
and the so-called ‘cork taint’.
The craft trend is one consequence of
Wine lasts longer over time and its de-
the Millennials’ aspiration for new and
licate balance does not change when
different products.
transported. Additionally, Guala Closures
Craft in Beer, Food or Spirits reflects a screwcaps make the bottle easier to open
more traditional production method, and to re-seal, maintaining the quality
less processed, with more local content, and the taste of the wine for a long time.
authentic, genuine, differentiated and The screwcaps can be personalised with a
where possible, enveloped in a plausible variety of decoration techniques to meet
and distinctive story. the customer’s brand and marketing re-
quirements.
20_ SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _21COMPANY OVERVIEW COMPANY OVERVIEW
Water market Olive oil market
Olive oil embodies tradition, history and
quality.
Guala Closures Group makes aluminium
closures for beverages in glass bottles, For the olive oil sector, Guala Closures
such as: sparkling and still soft drinks, Group offers a wide range of closures
fruit juices and non-alcoholic beverages. with an infinity of decorative possibilities,
development of spouts adapted to the
Guala Closures is the partner of interna-
different products’ viscosities and drip
tional leading companies, protecting their
systems that prevents liquid spillage from
product brands with either generic or
the bottle.
tamper-evident closures, guaranteeing the
consumer’s bottle has not been opened. Thanks to our 60 years of experience in
innovation through our R&D department,
All Closures can be customized with high
the Group has patented solutions that
quality graphical techniques to enhance
make the consumption of olive oil safer,
brand image.
avoiding counterfeiting and preserving
its authenticity and quality.
22_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _23COMPANY OVERVIEW COMPANY OVERVIEW
Our technologies Our innovation process
The SAFETY CLOSURES created by Guala Closures fight TAMPER-EVIDENT SYSTEMS are available in different CUSTOMISING CAPACITIES These trends are pushing us in a big effort to change Connected caps are a key project for future develop-
against counterfeiting. This illegal phenomenon affects types to allow the consumer to see if the bottle has not only the design of the products, but also the way we ments. With its IoC (Internet of Closure) technology,
To satisfy all the customers’ requests, we
all countries worldwide, and consists in refilling and been opened. develop and produce them: we need to be fast, able to Guala Closures Group can make every bottle identifiable,
substituting the original product. Such actions cause not have developed the capability to provide manage in parallel many developments, and flexible in interactive and changes an isolated bottle to a Connected
only enormous economic damage to the company, but unique and customized solutions. production tooling, because of the small volumes of the Bottle. Thanks to the insertion inside the closure of a
– above all – provides a serious risk to the health and • ICON range combines our artisan know-how different designs. specifically designed NFC circuit, with a simple ges-
safety of final consumers. As world leader in the produc- and our technological mastery (sputtering The market evolution pushes our group in several diffe- ture, the consumer engages the tag via his/her mobile
More and more Luxury-Premium market’s competitors have
tion of safety closures, Guala Closures prides itself in its metalisation matt & shiny, spray painting, rent directions, mainly driven by the new generations’ phone and accesses content through the IoC platform.
been following our technological roadmap: a lot of compa-
expertise thanks to continuous research in solutions and approach to distilled product choice and consumption. We are strongly investing in this field in research and
top & side embossing or debossing, mate- nies, that until yesterday just produced corks, for example,
technology towards: THE MAIN TRENDS ARE: development of both products and production lines.
rial effects, integration of emblems, tags now are offering complete Luxury caps, so the competitive
and medallions). arena is becoming quite crowded and challenging.
NON-REFILLABLE SYSTEMS consist of a series of ustainability of our products, more and more requested
S
internal valve systems of varying complexity dependent • With ESSENCE range, the Group introduces by our customers and coming from their direct and In the Premium market we have developed new solutions
CAPPING SYSTEMS guarantee that the closure is based on putting together different materials (like plastic
on market need. This invention prevents the bottle from highest quality Wood Closure and offers strong commitment
secured to the bottle. The three ways of capping systems and wood) and we have added further effects taking them
being refilled and the original product replaced with a methods include: luxurious closure solutions.
counterfeit version Customer engagement, through connected closures that from the fashion industry; the result has been a new Group
R • GRAVITAS is a unique material innovation
oll-on: The aluminium closure is rolled on the allow the brand to pass to the final consumer the actual catalogue for the Luxury and craft ranges (“Luxury Closures
glass with specific rollers which form the aluminium providing greater design freedom with a values and create a strong consumer connection with Artisans” and “Secret Garden” respectively).
to the exact shape of the glass wide choice of finish and weight. This range the brand; this is an important request in craft distilling, New closures for high end products have been developed
brings together the versatility of plastic where brands need visibility to final consumers for different markets, spanning from Scottish gins and
S
nap-on: The closure is secured by vertical
pressure. and the luxury feel of metal. whiskies, to Korean and Far East products, to Tequilas in
arket accelerated trend to push mass products toward
M Mexico and the USA.
S
crew-on: The closure is screwed on. commodities and elevate few brands to premiumisation;
this trend brings to a continuous research of cheaper We have developed new caps whose target is to go toward
solutions in one end and to fragmentation of more and more sustainable solutions keeping the same aesthetical
more customised products but with small volumes, in appeal of the current more complex and less sustainable
the other end. solutions. These caps use mainly mono-material structures
and are ready to further evolve toward totally compostable
caps. That remains our target. All these developments
come not only from a tight collaboration between R&D
centers and Marketing, but also from external partners,
design agencies and web developers. We are enlarging
the number of competences we need to be ready for
future challenges.
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Our launches RE-USE Go further in ecodesign approach
COMPANY OVERVIEW
RECYCLE
USE LESS In this direction, the launch of the «Green Cap» aluminum
closure should be considered, which allows an easy di-
vision between closure and bottle for correct disposal of
BIO AGAVE
To meet the requests of our tequila customers, a research
CONSUME LESS
and development process has been undertaken aimed
the packaging at the end of its life. at the production of stoppers with bio-based material
The Group intends to achieve the challenging objective derived from the waste of agave processing in the tequila
of using 35% of recycled materials by 2025, also by leve- manufacturing process, in line with a circular economy
LUXURY CLOSURES raging external stakeholders, implementing increasingly perspective.
WINE CLOSURES Gravitas environmentally-friendly solutions and developing new With the introduction of agave bio-based composite
Guala Closures, as a global leader in the production of spe- ones at its innovative R&D centre, extending its existing
cial closures for alcoholic beverages and wine, has always material, on the overall finished closure, 30% comes from
range of sustainable closures (Green Cap, Bio Agave, agave fibers and 70% from polypropylene. This means that
LUXURY CLOSURES been focused on protecting the environment, preserving Wave, Bikini, etc.).
Ultra-premium t-bar the consumption of polymers from oil have been reduced
natural resources and reducing production waste; 26% of
To encourage best practices for closure recycling, Guala and CO2 emission have been cutted.
its total raw materials (plastic and aluminium) are recycled Closures has committed to joining European entities and
materials, achieving 38% of recycled materials in Europe, This bio-based material preserves the mechanical properties
consortia that endorse materials collection and recycling, of plastics and transform waste from the agro-industrial
and over 50% in Africa and Oceania. and to organise events to promote awareness, in colla- process into an alternative material.
Aware that there is no single solution to the demand for boration with Environmental organisations, addressed to
sustainable products, Guala Closures’ innovation has consumers and stakeholders with a view to encouraging
moved in different directions of eco-design: informed consumption practices.
• Easy recycling, through mono-material solutions;
• Reduction of the impact in the production of the closure,
GREENCAP®
achieved through the use of materials partially or totally The research, development and engineering team of Guala
produced from renewable sources; Closures have developed Greencap®, a special ROPP clo-
sure for wine and spirits which allows to easily and safely
• Reduction of the plastic materials used, continuing the
unscrew the skirt, that usually remains on the neck of the
research in the partial replacement of polymers with
bottle after use, without using any tool.
fibers / fillers from natural waste;
While maintaining all the advantages of a screwcap, inclu-
• The biodegradability / compostability of closures, through ding ease of opening and closing and preservation of the
the development (with strategic partners) and the use of quality of the wine without, among other things, requi-
advanced polymers. ring any modification on the bottling line from producers
CONNECTED CLOSURES The goal is to provide customers with a broad spectrum who already use screwcaps, this helps the separation of
NFC Aluminium closures of solutions that will then be chosen according to the local the aluminium from the glass in order to improve waste
for wine and spirits structure of the packaging end-of-life treatment chain. collection and materials recycling process.
26_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _27COMPANY OVERVIEW COMPANY OVERVIEW
2019 Awards Fight against counterfeiting
2 AWARDS FOR E-WAK®, THE CONNECTED SPECIAL MENTION FOR GUALA CLOSURES SAVE THE SPIRITS, SAVE THE OIL,
CLOSURE FOR WINE PART OF NĚSTGATETM
RANGE
INTERNATIONALISATION STRATEGIES SAVE THE WINES
In October, during the ceremony of “Eccellenze d’impresa”
In may, during the Alufoil Trophy competition, organised that took place inside the prestigious Palazzo Mezzanotte, The Group has conceived and launched three websites
by the European Aluminium Foil Association (EAFA), home to the Italian Stock Exchange, Guala Closures dedicated to social responsibility campaigns to fight against
the “Discretionary Award” went to Guala Closures for Group CEO & Chairman Marco Giovannini received the THE PERCENTAGE OF the counterfeiting of alcohol, oil and wine.
prize assigned to the Group: a special mention in the
e-WAK®, the first NFC integrated aluminum closure for
wine, dedicated to wineries, allowing them to start a one Internationalization category for its business strategies, COUNTERFEITED OR ILLEGAL This is a worldwide phenomenon causing serious damage
to consumer health and the economies of many countries.
to one relationship with their end consumers. for its active presence in over one hundred countries, with SPIRITS IN THE GLOBAL MARKET The Group creates products that can counteract this
The closure impressed the judges in each category, leading twenty-nine production plants on five continents.
phenomenon and help to protect customers’ beverages. The
them to consider it as a possible revolution for the wineries, aim of these websites is to create international specialist
their marketing strategy and consumer engagement. SPIRIPACK BRONZE AWARD FOR GRAVITAS focus channels and to promote a wider awareness and
In November during the Innovation Challenge SIMEI LUXURY CLOSURE DESIGNED FOR GLENFIDDICH The consequences of spirits counterfeiting are serious. appreciation of the circumstances behind counterfeiting
competition, the technical-scientific committee selected GRAND CRU Along with the economic damage, it causes serious beyond the usual boundaries of fashion and technology.
e-WAK®, among the most deserving innovations. health risks and the deaths of tens of thousands of
In the occasion of the VSPack trade exhibition in Cognac,
Then, a new award had been assigned to the connected people every year. TO FIND OUT MORE, VISIT
France, Guala Closures submitted its Gravitas closure
version of Guala Closures’ WAK® screw cap for wine, designed for the new Glenfiddich Grand Cru to the «Spiripack An advertising campaign has been planned to support > www.savethespirits.com
thanks to the scores obtained by the technical panel and Crédit Agricole 2019 Award», organised by Atlanpack communication, to raise awareness not only of consumers > www.savethewines.com
the public of Enoforum, the largest technical-scientific and dedicated to the best packaging innovations from but bartenders, companies and stakeholders in the beverage
congress in Europe for the wine industry. > www.salvalolio.com
VSPack exhibitors. The jury of professionals – comprised and drinks sector. To facilitate the process, a selected
by representatives of the V&S News and Formes de Luxe number of pubs, bars and clubs will act as testimonials
ALUSNAP SMART WINNER OF “PREMIO CONAI” magazines, the creative agency in Spirits Design and the of the campaign, explaining the importance of the steps
Conseil National de l’Emballage – gave to Gravitas closure taken to ensure the authenticity of products sold.
Thanks to the reduction of the raw materials used for the «Bronze Award» for the innovative features of the
its new Alusnap closure, Guala Closures was one of the Thanks to the development of NFC technology integrated
material and the versatility of the shape and finishing.
86 companies that received a CONAI award, which has into our new range of connected closures, consumers
reinvented its packaging with a view to innovation and benefit from full traceability on the product and its
environmental sustainability. packaging.
THE VALUE OF COUNTERFEITED
ALCOHOL PRODUCTION
IN THE WORLD
28_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _29COMPANY OVERVIEW The Guala Closures S.p.A. Corporate Gover-
COMPANY OVERVIEW
Structure of the Group Our corporate governance
nance system is characterized by a set of
rules, behaviours and processes aimed at gua-
ranteeing efficient and transparent corporate
governance and the effective functioning of
governance bodies and control systems. The
Company adheres to the principles and appli-
cation criteria contained in the current Code
of Conduct for listed companies, promoted
GUALA CLOSURES S.P.A. ITALY by Borsa Italiana (the Italian Stock Exchange).
100% The Governance adopted by Guala Closures
must ensure fairness and transparency in
GUALA CLOSURES INTERNATIONAL B.V. NETHERLANDS the management and information and the
protection of all shareholders, in accordance
OCEANIA AMERICAS EUROPE ASIA AFRICA with national and international best practices.
The Shareholders’ General Meeting expresses Marco Giovannini
Guala Closures Guala Closures Mexico S.A. GCL International S.à r.l. Guala Closures (India) Guala Closures South the will of shareholders. It approves the finan- Nicola Colavito Chairman Anibal Diaz
100%
100%
95%
100%
100%
Australia Holdings Pty Ltd de C.V. Mexico Luxembourg Pvt Ltd India Africa Pty Ltd cial statements and appoints the members Director of the Board Director
Australia 100% South Africa of the Board of Directors and the Board of
Guala Closures DGS Poland 100%
100% Guala Closures Servicios Statutory Auditors. It can resolve on amend-
70%
S.A. - Poland Axiom Propack Guala Closures
Guala Closures
Mexico, S.A. de C.V. ments to the Articles of Association and
100%
Mexico Pvt Ltd India East Africa Ltd
Australia Pty Ltd Guala Closures extraordinary transactions.
70%
Kenya
Australia Ukraine LLC - Ukraine The Board of Directors has a central role,
BOARD OF
Guala Closures de Beijing Guala Closures
93,2%
100%
Colombia Ltda Colombia Guala Closures UK Ltd Ltd China through the performance of functions of
100%
Guala Closures United Kingdom strategic guidance, organisational coordination,
DIRECTORS
100%
Guala Closures
100%
New Zealand Ltd as well as verification of the existence of the
100%
Guala Closures Lucrezia Reichlin Francesco Bove
100%
New Zealand Argentina S.A. Argentina Guala Closures UCP Ltd Japan KK Japan controls necessary to monitor the performance Independent Director Director
United Kingdom of the Company itself. Moreover, it is vested
Guala Closures
100%
do Brasil Ltda Brazil with the widest powers for the ordinary
100%
Guala Closures
Iberica S.A. Spain administration of the Company and, more
98%
Guala Closures precisely, it has the power to carry out all the
2%
Chile SpA Chile Guala Closures acts it deems appropriate for the achievement
70%
Bulgaria A.D. Bulgaria of the Company’s objectives, excluding only
Guala Closures
Filippo Giovannini
100%
North America Inc. Guala Closures those acts which are exclusively reserved to Luisa Maria Virginia Collina
Director
70%
United States France SAS France the Shareholders’ General Meeting. Independent Director
The Control and Risk Committee is made
Guala Closures
up of Mr. Francesco Caio (president), Prof.
70%
BY LLC Belarus
100% Lucrezia Reichlin and Dr. Nicola Colavito. The
Guala Closures Deutschland Remuneration Committee is composed of Francesco Caio Edoardo Carlo Maria Subert
GmbH Germany Ms. Luisa Maria Virginia Collina (Chairwoman), Independent Director Director
Mr. Francesco Caio and Mr. Edoardo Carlo
100%
GCL Pharma S.r.l. Italy
Maria Subert.
30_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _31COMPANY OVERVIEW COMPANY OVERVIEW
Our committees Our committees
CORPORATE STRUCTURE REMUNERATION COMMITTEE ETHICAL / SOCIAL COMMITTEE RISK AND CONTROL COMMITTEE
uala Closures S.p.A. is a company listed on the STAR segment of the Milan stock
G This 3 member committee (composed of a majority of independent directors) This committee is composed of the COO and concerned directors : Purchasing, Legal This 3-member committee (composed of a majority of independent directors) has
exchange. The ownership structure of Guala Closures S.p.A. is characterised by formulates proposals to the Board of Directors regarding the definition of the Affairs, Quality. Human Resources and Sustainability. It guarantees the knowledge also the duty of assisting the Board of Directors in:
a significant portion of the share being held by the market and 24.54% of voting remuneration policy of directors and key managers of the Issuer post-merger. and correct implementation of the Ethical / Social Policy and the Code of Ethics in defining the guidelines of the internal control and risk management system, to
rights held by Managers, out of which 24.28% indirectly through the Luxembourgish It periodically assesses the adequacy, overall compliance and actual application all the Group’s plants with 4 objetcives : ensure the main risks are properly identified, adequately measured, managed
company GCL Holdings SCA. of the remuneration policies for directors and key managers, and with regard to dissemination of Group policies and objectives on ethical / social aspects and monitored;
this, establishes proposals to submit to the Board of Directors. Finally, it submits
Guala Closures S.p.A. owns GCL Pharma S.r.l. and Guala Closures International B.V. definition of tools for staff training and awareness the periodic verification of the adequacy and effectiveness of the internal control
proposals to the Board of Directors on the remuneration of executive managers
Guala Closures International B.V., with its main office in Holland, is the sub- definition and dissemination of Group procedures to manage the application of and risk management system;
and the other directors who have specific roles, establishes the remuneration
holding company which controls directly and indirectly all the foreign companies performance targets and monitors the application of the Board of Directors’ decisions. ethical / social aspects (internally and in relations with interested parties) the approval of the work plan prepared by the Internal Audit Department Manager;
belonging to the Group. coordination and verification of the internal audit results on the ethical / social part the evaluation of the results presented in the reports of the auditing firm and in
any letter of suggestions and in the report on the fundamental issues emerging
during the audit of the accounts;
the appointment and revocation of the Internal Audit Department Manager.
SHAREHOLDERS’ MEETING
BOARD OF DIRECTORS COMEX (EXECUTIVE COMMITTEE)
The Ordinary and Extraordinary Shareholder’s Meeting is usually convened
by the Board of Directors and has the task of deciding upon the approval This committee meets each month and analyses management progress and the ROLE OF THE COUNTRY DIRECTOR
of the annual financial statements and on the other matters reserved Guala Closures S.p.A.’s Board of Directors is in charge of managing and deciding the achievement of set objectives. It is composed of the Group’s CEO, COO, and CFO
by the law or by the Articles of Associations, such as the amendments of Group’s strategic and organisational directions, as well as verifying the existence and other Group key department Heads (Corporate General Secretary, Marketing,
the articles of association, capital increase, appointment of the directors, of the needed controls to monitor the Group’s activities. Human Resources, Administration and Finance, Management Control, Technical Each of Guala Closures International’s subsidiaries is established in respect to
the auditors and the determination of the relevant compensation, etc. The Board is made of 9 members, of which 3 are independent. Among the board Departments, R&D, Purchasing, Sales, Quality and Sustainability). In addition, the national local laws. In general, for each country in which Guala Closures operates,
The Ordinary Shareholders’ Meeting occurs at least annually to approve the members, Marco Giovannini is the Chairman and CEO and holds the Group’s most Group’s Country General Directors are invited periodically as each subsidiary is a company-owned enterprise exists which manages the local plant. A Country
financial statements. senior position. established according to national local laws. Director oversees the plant and liaises with the Group.
32_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _33COMPANY OVERVIEW COMPANY OVERVIEW
Economic figures Economic figures
TURNOVER TURNOVER GUALA CLOSURES GROUP 2 NEW ACQUISITIONS IN 2019 REVENUES PER TYPE OF PRODUCT 2019 REVENUES PER GEOGRAPHIC AREA 2019
In 2019, the Group recorded a net revenue of 606.5 (million euros, 2009-2019) • On 30 July 2019 the Dutch subsidiary Guala Closures SAFETY CLOSURES 256.1 M€
million euros, with a total increase of the revenues of International B.V. approved the establishment of a
the sales of +11.7% and an increase of the marginality to 311.1 new company in Belarus. This company, called Guala ROLL-ON CLOSURES 179.3 M€
level of adjusted EBITDA of +8.6% to current currencies. Closures BY LLC, was established on September 5,
This reveals of the resilience of Guala Closures Group’s 371.4 2019. and 70% of the shareholding structure is made WINE CLOSURES 108.3 M€
business and the great capacity for action to cope with up of Guala Closures International BV. The activity of
exceptional events. 418.1 the new Minsk plant was started already in 2019 and LUXURY CLOSURES 32.8 M€
The contribution of the business of Guala Closures UCP, the development project continues to better serve the
497.1 wider Russian market. OTHER REVENUES 16.3 M€
a company that entered the consolidation perimeter only
at the end of December 2018, consolidated the Group’s PHARMA CLOSURES 8.2 M€
494.3 EUROPE
presence in the spirits market and in particular in the • On 4 November 2019 the new plant in Guala Closures
Scottish whisky market. East Africa was officially inaugurated. The company’s PET 5.5 M€ 358.2 ME
487.8 ASIA
The organic growth in revenues on a like-for-like basis aim is to assist alcohol producers in Kenya and in the 59.1%
is the result of both an increase in sales volumes and 520.5 wider East African market with anti-counterfeiting 80.1 ME
the effect of increasing sales prices. The organic growth closures equipped with the latest technologies. The new REVENUES PER MARKET SECTOR IN 2019 13.2%
of Adjusted EBITDA, again on a like-for-like basis, is 500.3 plant located in Nairobi made the first productions in
February and began to penetrate the market in March The spirits and wine markets continue to represent more
attributable to the combined effect of an increase in than 84% of the Group’s revenue. The Group’s consolidated LATIN AMERICA AND
sales prices, a reduction in the cost of core raw materials, 534.8 by making the first sales to an important local customer, NORTH AMERICA AFRICA
and continues the growth path supported by the Group. financial statements are accessible to the public on our
and in particular plastics, and the application of the new
543.1 website at: www.gualaclosures.com 18.3 ME
accounting principle IFRS 16; the latter positive effects, 109.8 ME OCEANIA
which more than compensate for the increase in other 3.0%
18.1% 40.1 ME
variable production costs. 606.5
66.3 / Spirits 6.6%
17.8% / Wine
8.9% / Water and beverages
2.7% / Other revenues
FINANCIAL STATEMENT CERTIFICATION INVESTMENTS 2.0% / Oil & vinegar
The overall economic data has been taken from the Group’s Net investments for the year 2019, amounting to € 31.6 1.3% / Pharma
consolidated financial statements. The financial statements million mainly concern plants and machinery and have 0.9% / Pet
are certified by KPMG, which audits the contents and affected all five continents in which the Group operates,
confirms its compliance with International Financial Reporting concentrating particularly in the European area in the plants
Standards. in Italy, in Ukraine and in the United Kingdom. The Group is not exposed to significant geographical risks other than normal business risks.
34_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _35COMPANY OVERVIEW NUMBER OF EMPLOYEES PER CATEGORY
COMPANY OVERVIEW
Human Resources figures Managers / 259 Human Resources figures
White collar / 1,029
Blue collar / 3,476
For Guala Closures Group, with its 29 facilities and 3 Guala Closures promotes respect for work and
sales offices in 23 countries around the world, people employees by avoiding all forms of discrimination
BREAKDOWN BY TYPE OF CONTRACT are a real asset and the best resource to maintain and ensuring full observance of the fundamental
market leadership and develop its business. The human rights.
4,764 EMPLOYEES PRESENCE IN Group’s commitment is to stimulate and guide its
employees towards personal and professional growth,
Guala Closures works to promote a socially ethical
ermanent
P business activity, based on the transposition and
IN THE GROUP AROUND 23 COUNTRIES employees / 87% in line with the company’s culture and its corporate application of the following four documents:
THE WORLD Agency workers / 13%
role, while generating economic and social value.
• Social and ethical policy
Multiculturalism, training, engagement, awareness of
• Work safety policy
diversity as a resource, and attention to health and safety
are the pillars of Guala Closures’ values and policies • Code of ethics
and, thus, empower our employees and collaborators. • Modern Slavery Act
AMOUNT OF EMPLOYEES
AROUND THE WORLD
739 AGENCY 30 NATIONALITIES
Starting from these principles, Guala Closures strives
to guarantee its employees full observance of social
Europe / 2,929
WORKERS REPRESENTED and ethical topics in all the countries in which it
Americas / 871
operates, focusing primarily on three areas:
Asia / 641
• promoting company values and continuous impro-
Africa / 182
vement at all levels to encourage participation and
Oceania / 141 a sense of belonging;
• promoting professional growth through continuous
76% MEN
training;
33.15 HOURS HOURS OF ABSENCE • the increasingly scrupulous protection of labour
24% WOMEN
OF TRAINING PER PERSON law, respecting employees’ rights and adopting
Illness / 259,804 h rigorous policies for occupational safety, with
Accidents / 24,860 h particular attention to the developing countries in
Maternity leave / 40,604 h which the Group operates, focusing, above all, on
Other / 119,119 h the selection of a supply chain that is also aware
Total / 444,387 h of ethical and social topics.
36_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _37COMPANY OVERVIEW
Company history
CSR VISION
AND ACTION
38_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _39CSR VISION AND ACTION Guala Closures Group’s CSR governance CSR VISION AND ACTION
Our CSR governance Our CSR strategy
is essentially based on the Green Board.
In 2011 we designed our
This CSR body was set up in 2015 to define
and ensure effective implementation of Sustainability Strategy
the agreed sustainability strategy and to
monitor progress. In 2019, The Green Board
based on three pillars
was composed of senior executives at both (Planet / People / Profit)
the Corporate and Country/Factory levels,
thus including a mix of geographical areas. and 12 indicators. In every area of the Group, Guala Closures promotes and strengthens its global
All Country Managers and the continuous leadership in the field of safety closures and aluminium closures, as well as in the
Fabrizio Venezia Mauro Boano
improvement team collect and transmit to ENERGY CONSUMPTION PET and pharmaceutical product lines, through:
the Green Board the environmental, social
Group Purchasing Group Human Resources and economic KPIs for the monitoring of the
Director
Franco Bove
Director
Sustainability Programme and greenhouse CO2 EMISSIONS CUSTOMER SATISFACTION THE DEVELOPMENT OF HUMAN RESOURCES
gas emissions. The body meets 2 to 4 times
Group Chief • Developing products that meet the needs • Ensure full compliance with ethical-social
a year to discuss progress, listen to top
Andrea Tassisto
Group Technical
Operating Officer Fulvio Bosano
Group Product Research management feedback, identify challenges WASTE of customers and the market aspects within the areas of the group
Director and Innovation Director and suggest strategic solutions, under the • Making production, products and processes • Promote our corporate values with
guidance of COO Franco Bove. RAW MATERIALS ever more innovative employees at all levels
In 2020, the Green Board will be renewed • Improve the efficiency and quality • Foster professional growth
to achieve the gender equality in line with of production processes
our commitment to diversity and inclusion. WATER • Ensure safety in the working environment
GREEN
David Stevenson Armando Finis • Ensure a fast, effective and secure
Country Director Group Sales The organisation of CSR at local level is standard of service INVESTOR SATISFACTION
India and Africa Director voluntarily left to the free choice of the ENVIRONMENTAL MANAGEMENT
BOARD Country Managers, who implement it
according to the resources and needs of
• Safeguard the brands and confidentiality
of our customers
• Commit to controlling costs and
eliminating inefficiencies and waste
local conditions. In all the Business Units, HEALTH AND SAFETY • Generate added value at all stages
Violette Montagnese José Luis Gutierrez the Country Managers have appointed a CSR ATTENTION TO THE CONSUMER of business processes
Group Marketing
Manager
General Director
Americas
manager who has the task of implementing
the Group’s strategy, implementing the
TRAINING • Ensure full compliance of our
food-contact closures
planned actions and achieving the collective
• Respect the environment with particular
Maurizio Mittino
objectives of the Programme. Local CSR DIVERSITY attention to reducing the environmental
Alessandro Pera managers support, pilot and coordinate
Sustainability and Continuous impact of production cycles
Group Controller actions within their Business Units. They are
Improvement Director
responsible for reporting group indicators. PRODUCTION EFFICIENCY • Engage in important initiatives for communities
The Corporate CSR team brings its exper- close to production sites
tise and support in the use of tools to the INNOVATION
Ken Moran Business Units, giving life to the entire CSR
Country Director Programme, facilitating the exchange of
United Kingdom good practices between the Business Units CUSTOMER SATISFACTION
and supporting innovative projects.
40_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _41CSR VISION AND ACTION CSR VISION AND ACTION
Our issues and challenges Our issues and challenges
01- Customer satisfaction
02- Employee safety at work
03- Ethics and integrity
04- Ethical business practices
05- Governance & compliance
Absolutely critical
06- Innovation
07- Corruption risk management and prevention
In 2019, we updated our materiality assessment by invol- 08- Economic performance
2 1
FIVE STEPS FOR
ving our internal and external stakeholders in a dialogue We reviewed and extended our list of potential material challenges 09- Data privacy and security
MATERIALITY MATRIX
process. In line with the reference framework pu- initially established in 2016 by analyzing good sectoral practices and 10- Transparency 3
blished by the International Integrated Reporting Council reporting reference frameworks (International Integrated Reporting 11- Child labour prevention 4
IN-DEPTH ANALYSIS OF Council - IIRC, Global Reporting Initiative-GRI and the Sustainability 12- Ethical purchasing practices 11 5
(IRCI), our essential issues are the economic, social and 6
13- Raw material recycling 12
Very important
environmental issues that impact our ability to create SECTORAL ISSUES Accounting Standards Board-SASB, United Nation Sustainable Deve-
17 7
lopment Goals-UN SDGs). 14- Use of harmful substances 13 9 8
value in a sustainable manner. They are determined based 15- GHG emissions
on their impact on the Group’s strategy, governance, 32 22 21 16 14 15 18 10
16- Waste from operation
performance and prospects. 17- Human rights throughout the value chain 33 34 31 30 29 19 23
We gathered points of view of our internal and external stakeholders
18- Energy efficiency of operations 28 20
INDEPENDENT INTERVIEWS
during interviews with a representative panel of customers, suppliers,
36 35 26 24
Materiality assessment update was a real opportunity to 19- Prevent pollution from operations
WITH INTERNAL AND
administrators, employees, union members. These interviews were
20- Employee training and skills / share practices 27 25
expand even more the dialogue with stakeholders that is conducted by an external organization with questions on the 41 issues
Important
part of the culture of Guala Closures Group. We work with EXTERNAL STAKEHOLDERS 21- End of life product recycling
identified in order to prioritize their expectations in the context of their
22- Ethical marketing practices
all stakeholders to jointly develop our commitments and relations with the Guala Closures Group. 28
23- Employee satisfaction 39
contribute to sustainable and inclusive growth.
24- Diversity and inclusion
We are convinced that creating an ecosystem including 38
team members and strategic partners creates more We gathered opinions and points of view of nearly 200 stakeholders
25- Employee empowerment 40
BROAD CONSULTATION OF 26- Material scarcity management
opportunities to do good. We are committed to engaging across 26 countries using an on-line survey. The results have enabled
of importance
INTERNAL AND EXTERNAL 27- Employee welfare at work
Some kind
with stakeholders at local, national and global levels: us to prioritize the 41 challenges according to their potential impact on 28- Develop product with environmental benefits
STAKEHOLDERS
to determine where Guala Closures can contribute to the Group’s ability to create and share value in the medium to long term. 29- Water management
30- Renewable energy use or purchase 41
significant change.
31- Engaging suppliers in sustainable performance
The results were shared within a steering committee, made up of 32- Air pollution
CONSISTENCY OF MATERIAL 33- Socially responsible investment
members of the Green Board and the CSR corporate team. This com-
CHALLENGES WITH THE
Not important
mittee ensured consistency between the prioritization of material 34- Employee psychosocial risks
GROUP’S CRITICAL RISKS 35- Biodiversity preservation
issues and the Group’s critical risks mapping.
36- Land management
37- Transport and travel
38- Employee volunteering
The results of this materiality assessment have been validated by the 39- Support for charities and NGOs
VALIDATION OF RESULTS Executive Committee and constitute a major contribution to the Group’s non-existent / very limited Can challenge Can severely impact Can compromise
40 - Support for local communities not important projects or affect the the company the company
reflections. Our goal is to ensure alignment between stakeholders 41- Financial stability company
42_ 2019_SUSTAINABLE DEVELOPMENT ANNUAL REPORT SUSTAINABLE DEVELOPMENT ANNUAL REPORT_2019 _43You can also read
