Businesses of the Group

Our Businesses

Our Business Model

Prysmian adopts a business model centered around the concept of shared value. This strategic approach emphasizes several key elements: actively listening to and engaging with all internal and external stakeholders, consistently monitoring the evolving global and industry landscape, and responsibly planning for the future while considering both environmental and societal impacts.

 

  1. As a publicly traded company, we align our interests with those of our stakeholders. We prioritize open and transparent communication with our shareholders, employees, customers, suppliers, institutions, and the communities in which we operate. To foster their confidence and support, we are committed to maintaining high standards of governance. Notably, 67% of our Board members are independent. Our shareholders' meetings serve as a vital platform for discussion, engagement, and consensus among all shareholders.

     

  2. We align the company's management objectives with sustainability key performance indicators (KPIs). To achieve this, we have implemented a scorecard to manage social, economic, and environmental issues across our business activities. Prysmian's scorecard includes 14 objectives with tangible business impact. These objectives are clear and measurable, based on three criteria: the 17 Sustainable Development Goals for 2030 (SDGs) established by the United Nations, requirements from major international sustainability indexes, and the needs and expectations of our stakeholders. We map these stakeholder needs annually through the company's engagement initiatives.

     

  3. The incentive scheme for all managers at Prysmian is linked to achieving objectives aimed at improving our ESG (Environmental, Social, and Governance) parameters. The 2020 Remuneration Policy adopted by the company includes a variable remuneration system that is partly based on performance in sustainability matters. This includes the company's positioning in three key sustainability indices: the Dow Jones Sustainability Index, the CDP Index, and the EcoVadis Index. Additionally, it is based on progress in implementing action plans across three important areas for the business: increasing gender diversity in management, reducing CO2 emissions, and ensuring occupational health and safety.

 

Acceleration of Climate Change Efforts: Aim for Zero Emissions by 2035 (Scope 1 and 2)

We're committed to becoming a leading technology player in the transition to renewable energy and a decarbonized economy. Currently, 48% of the company’s sales come from business segments and products that support a low-carbon economy. 

Additionally, Prysmian has introduced a new, ambitious climate strategy that sets science-based targets aligned with the Paris Agreement. The company supports the Business Ambition (1.5°C) initiative, aiming for a net zero emissions target for its operations (Scope 1 and 2) by 2035 and for its value chain (Scope 3) by 2050. One of the key initiatives in this effort is the Pikkala plant, which will focus primarily on producing cables for offshore wind farms. This plant is set to become the first net-zero facility, using 100% certified renewable energy.