Corporate Social Responsibility

Piaggio's concept of sustainability is outlined in its "CSR Model’, which is developed at a Group level. This Model is based on the mission and values that have set the company apart since its inception and which are the cornerstone of its Code of Ethics.

The Piaggio Group has always been committed to safety, quality, environmental issues and the wellbeing of its employees and partners. In other words, it is committed to being socially accountable for its operations.

Since the 1990's, Piaggio has made its mark in bringing together production and social responsibility, through the intense work of the Fondazione Piaggio (Foundation). With its Museum and Historical Archive, the Foundation is one of the first examples in Italy of placing value in a Company's historical heritage and promoting culture in the community.

Piaggio's constant focus on sustainability and its increasing commitment in recent years have convinced the Group of the need to adopt a structured Corporate Social Responsibility model that defines and organises all aspects of Piaggio's Corporate Social Responsibility.

Piaggio's Corporate Social Responsibility Model

CSR       

Piaggio's mission and values, which form the basis for the Group's Code of Ethics, established in 2004, are considered as strategic objectives for sustainability, divided into areas of sustainability that are important for the Group: economic sustainability, product sustainability, environmental sustainability and social sustainability. Based on these areas and in line with its strategic objectives, the Group has produced a sustainability plan with short and medium-/long-term objectives.

The entire process described in this document is coordinated by the Business Ethics Committee, set up in 2008. The Committee is tasked with developing regulations and rules of organisational conduct in line with best international practices for corporate social responsibility.

As part of its responsibilities and duties, the Business Ethics Committee analyses all operations concerning relations between the Piaggio Group and external players, 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 disclosures to the public.

In developing a social responsibility strategy that can fully meet the needs of all stakeholders, the Business Ethics Committee has identified stakeholder categories addressed by the Group's operations: customers, employees, shareholders and investors, dealers, suppliers, trade unions, local communities, schools, universities and research institutes, the public administration sector, the media, organisations and trade associations.

Careful monitoring of all its stakeholders' expectations is a great opportunity for the Group to further improve operations. It is in this context that Piaggio is focusing its efforts: understanding possible areas of improvement in order to provide products that always meet the expectations of its customers, communicating its philosophy and business model clearly and effectively at all times.

The Piaggio Group pursues its sustainability objectives based on specific development guidelines:

  • Transparency and economic value. In line with these development guidelines, the Group's objectives include creating value for all shareholders, while complying with business ethics and adopting a number of social values.
  • Product innovation and sustainable mobility. The Group's industrial strategy is based on technological innovation which targets environmentally friendly mobility. In this context, the Group considers research into cutting-edge solutions as a critical factor for successful investment choices and industrial and commercial initiatives. Innovation is geared to cutting pollutant emissions and consumption, as well as increasing vehicle safety. Plus the Piaggio Group firmly believes that stakeholder involvement is fundamental for the development of the Company and communities where it works, in terms of economic and social wellbeing.
  • Environmental sustainability. Safeguarding the environment while carrying out all company operations is essential for mankind, technology and nature to coexist peacefully. The Group therefore makes sustainable products, which must be manufactured using production facilities with the minimum environmental impact. Production systems are made sustainable through optimising process efficiency and converting facilities that are no longer competitive. In particular, the environmental strategy for the Group's production sites aims for a more rational use of natural resources and minimal harmful emissions and waste from production.
  • Developing human resources and the context. People are fundamental for Piaggio. They are vital to creating added value in the long term. The Group has defined objectives for the growth, promotion and training of human resources, ensuring that each person is rewarded for the contributions they make and that their expectations and goals are met. To achieve this, growth must go beyond the boundaries of the Company. It must go further afield to reach suppliers and dealers, with whom Piaggio wants to cooperate being a reliable partner, forging a common ground to work and grow together, to create value for the end customer. The success of a company is also closely linked to customer confidence and satisfaction. Customers must be listened to, informed and respected, establishing relations based on transparency and trust. The Group is committed to engaging and supporting local communities through social, cultural and educational initiatives. The relations the Group forges with other reference stakeholders is fundamental: trade unions, local communities, schools, universities and research institutes, the public administration sector, the media, organisations and trade associations.

Piaggio's constant focus on sustainability and its increasing commitment in recent years have convinced the Group of the need to communicate its sustainability strategy and results achieved with even greater transparency. This is achieved through the Corporate Social Responsibility Report (CSR Report), considered the most appropriate means for achieving the Group's objective.

The CSR Report, available since 2008 and published on the institutional site www.piaggiogroup.com under Social Responsibility, is an annual document which reports on the Group's strategy, policy and its economic, environmental, social and product performance, sustained by principles of the utmost transparency and continual improvement.

In defining and preparing the CSR Report, the Piaggio Group has followed national and international best practices on Corporate Responsibility and the Sustainability Reporting Guidelines produced by Global Reporting Initiative (GRI) in their G3.1 edition dated 2011. The GRI Reporting Framework is a universally accepted model of reporting sustainability. It includes practices which are common to different types of organisations and has a content which is both general and sector-specific, with the purpose of reporting the sustainability performance of an organisation.

Since the first edition in 2008, the CSR Report has been audited by an external organisation, to guarantee to all stakeholders that the information it contains is reliable.