Sustainability Report 2024
Gruppo Sitip

Chapters
Slogo-bianco2

Sustainability

Report

2024

Sitip Group

NKL

General

Disclosures

Letter to

Stakeholder

With this, the fourth edition of our Sustainability Report, the SITIP Group reaffirms its commitment to operating responsibly and transparently, within a global context marked by profound geopolitical, environmental and social change.
In 2023, we began the process of aligning our reporting with the latest requirements of the EU’s Corporate Sustainability Reporting Directive, transposed into Italian law through Legislative Decree 125/2024. Despite the uncertainties introduced by the Omnibus package – which may result in our Group being exempt from mandatory reporting – we have chosen to continue with the publication of this Report, demonstrating that our commitment goes beyond regulatory compliance. For us, sustainability is a strategic driver, not a mere compliance obligation.
As a key player in the high-quality synthetic fabrics sector, we are acutely aware of our responsibility to support the transition of the Technical Textile industry towards more sustainable and accountable models. It is within this framework that, since 2022, we have been a participant in the United Nations Global Compact, incorporating its ten fundamental principles into our business strategies and practices.
In 2023, SITIP S.p.A. also obtained SA8000 certification – the international standard promoting the protection of human rights and working conditions – extending its benefits to our supply chain.
In 2024, we took an important step in our strategic evolution by defining a three-year Sustainability Strategic Plan, structured around four key pillars: strengthening sustainability governance, contributing to the ecological transition, empowering people and managing our impacts along the value chain.
The Plan is the result of the ongoing efforts of our Sustainability Committee, which played a vital role in identifying our priorities. Today, thanks to their work, we are able to give structure to initiatives already 

under way and promote ever greater integration of sustainability into the operational strategies of the Group’s various companies.
In line with our pillar focused on managing impacts along the value chain, we launched a structured programme in 2024 to engage our suppliers and raise their awareness of ESG issues. This has led to the development of a Supplier Code of Conduct and to the introduction of a sustainability selfassessment questionnaire, tools that enable us to monitor environmental and social performance across our supply chain and foster continuous improvement.
As part of our contribution to the ecological transition, we have updated our Integrated Quality, Environment and Energy Policy, reinforcing our systemic approach to tackling environmental issues. As a manufacturing company, we have always prioritised reducing energy consumption within our production processes and, now more than ever, we are committed to combating climate change. This involves targeted measures to reduce our direct (Scope 1) and indirect (Scope 2) emissions, as well as emissions across the value chain (Scope 3). Alongside our decarbonisation efforts, we promote product sustainability and circular economy practices, recognising the benefits they offer in terms of efficiency, company reputation and risk management. The widespread use of synthetic fibres in our manufacturing requires close oversight of the supply chain, ensured in part through certifications, such as with the Global Recycled Standard (GRS). We are committed to reducing unrecoverable waste, increasing the use of recycled materials, and we are a member of the Retex.Green consortium, which supports the collection and recycling of textile waste and the use of secondary raw materials within the industry.
This Report, our second prepared in line with the European Sustainability Reporting Standards (ESRS),
is testament to our decision to adopt the most ambitious and structured path forward, even amid an uncertain and continuously evolving regulatory framework. We have chosen to continue holding ourselves to the highest standards not only in the interest of transparency, but also because we believe the European Standards offer a genuine opportunity to reflect strategically on our business model and on the impacts it generates.
With a clear awareness that the transition towards sustainable, equitable and inclusive development requires long-term vision and continuous commitment, we wish you a pleasant and insightful read.

CEO
Giancarlo Pezzoli

firma-giancarlo

Highlights

2024

Outstanding expertise

in a strategic sector

The deep love for our Work.
Our trust in man and his abilities.
The strength of our ideas and the courage to bring them to life.
The optimism that helps us to always give our best.

Luigi Pezzoli

The main stages

of textile processing

Spinning

Sequence of operations required
to transform textile fibres
into yarn

Warping

Arranging threads in parallel
(the warp) using a machine
called a warper

Warp-knitting

Transforming the warp into fabric by weaving it with a continuous thread (weft)

Circular knitting

Transforming the warp into fabric with a characteristic circular shape

Scouring

Preparing the raw textile for
dyeing and finishing

Overflow dyeing

Method where the fabric passes
continuously through the dye
bath

Beam dyeing

Method where the fabric remains
stationary while the dye bath
circulates

Brushing

Finishing operation that raises
the fabric to create a ‘napped’
effect

Shearing

Finishing process consisting
of cutting the fluff
on the finished pieces

Emerizing

Finishing operation consisting of
sanding the surface to achieve a
peach-skin effect

Stentering

Finishing treatments
to improve the characteristics
of a fabric

Flame lamination

Process that bonds a
synthetic-based foam with
various types of fabric

Glue lamination

Lamination by spreading glue
on one of the substrates

Laboratory testing

Set of checks on performance
and compliance with
requirements

Final inspection
and packaging

Quality control and packaging

Mission

Sitip’s mission is to offer a diversified range of high-tech textile solutions to meet the various needs of the industrial and clothing sectors, striving to achieve increasingly sustainable production.

Thanks to a customized service and an extremely flexible production model, Sitip’s mission is to achieve the highest quality standards at all levels: from production plants to production techniques, from the supply chain to relations with all stakeholders.

Our values

Ethics, Sustainability, Integration

Ethics in social and work contexts

Sitip pays constant attention to ethical and social aspects in its relations with internal and external stakeholders. At social level, the goal is equity and the creation of decent work by developing the skills and professionalism of human resources at all levels of the organisation. The company also promotes ethical and transparent relations between the various company areas and with the outside world by complying with the code of conduct inspired by the 10 principles of the UN Global Compact (see below) and by using tools such as continuous training, motivation, fair wage policy, inclusion and support for the weakest, health and safety policies.

Sustainability

Sitip’s commitment to sustainable development is embodied in its application of processes to ensure environmental protection, and adoption of a circular business model. To this end, the company operates in compliance with the most prestigious international certifications and initiatives (see below).
The Group specifically refers to the SDGs as guiding principles for its actions and is committed to pursuing over time the goals that are most in line with its potential to make a positive impact (see computer graphics).

Sitip's commitment to the most relevant SDGs in the industry

Integration

Sitip’s high level of integration makes it unique in Europe.
Thanks to synergies with its subsidiaries Nylon Knitting and Accoppiatura di Asolo, Sitip is able to monitor every stage of processing, from spinning to the finished fabric.
Sitip’s specialized, flexible production process means it can effectively meet the most diverse market requirements.

Sustainable Business Values And Strategies

Group Stakeholders

The Sitip Group believes in taking a proactive, collaborative and respectful attitude towards all its stakeholders, laying the foundation for long-term sustainable socio-economic success. For this purpose, pre-empting and, wherever possible, satisfying their interests is a key element of the stakeholder engagement process.

The Group’s governance is based on the principles of integrity, transparency and fairness and plays a fundamental role in the company’s operating model, allowing the definition of clear rules on the implementation of strategic guidelines and the monitoring of ESG impacts, risks and opportunities.

Stakeholder

Shareholders

Suppliers and workers in the value chain

Employees and contract workers

Local community

Schools, universities, research organizations and similar organizations

Customers

Collaboration with
external organizations
in the field of sustainability

Sistema Moda Italia

Cluster Tecnologico Nazionale Made in Italy (MinIT)

Retex.green consortium

UN Global Compact

Carbon Neutrality of Alcantara S.p.A.

A certified commitment

Sustainability goals achieved

Environmental goals

• ISO 14001

s
asolo2

• ISO 50001

s
nkl2

• ISO 14064 Greenhouse Gas Emissions of an Organisation

s

• Product certification bluesign

s

• Product certification OEKO-TEX® Standard 100

s
nkl2

• Product certification GRS

s
nkl2
asolo2

• Registration on the ZDHC platform

s

• Development of the NATIVE Sustainable Textiles technology for Sitip and for Accoppiatura di Asolo a ‘New Life’ product line comprising exclusively recycled polyester or biopolymer fabrics and raw materials.

s
asolo2

• Use of recycled yarn for the production of new fabrics applicable in various sectors, such as Colorado Seaqual®.

s

Structural goals

• Photovoltaic systems

s
nkl2
asolo2

• 1.5 MWh cogeneration plant

s

• Wet electrostatic precipitators for over 200.000 m3/hour
of treated air

s

• Wet electrostatic precipitators for over 60.400 m3/hour
of treated air

nkl2

• Scrubbers for gas treatment

asolo2

Social goals

• SA8000 Certification

s

• UN GLOBAL COMPACT

s

• Code of conduct signed by strategic suppliers

s

• Code of ethics adopted for all other suppliers

s
nkl2
asolo2

Esg self assessment platforms

• Registration on the HIGG platform with issue of the FEM (Facility Environmental Module), reports on essential data such as carbon emissions, water use and workers’ well-being

s

• Registration on the ECOVADIS platform

s

Ongoing Projects

  • Expansion of photovoltaic system at Sitip SpA by approximately 1 MWh

  • Planned construction in 2025 of a wastewater treatment plant to remove over 2,000 mc of pollutant loads per day
  • Extension of SA8000 certification to all Group Companies by the end of 2026
  • Extension of ISO 14064/GHG Protocol to all Group Companies by the end of 2026
  • Planned ISO 45001 certification for all Group companies by the end of 2029
  • Planned Model 231 for all Group companies by the end of 2030/2031

SITIP and the ten principles of the Global Compact

Sitip has voluntarily adhered to the UN Global Compact, which sets out ten principles.

Human Rights

Principle I

Businesses should support and respect the protection
of internationally proclaimed human rights

Principle II

They should make sure that they are not complicit in human rights abuses

Work

Principle III

Businesses should uphold the freedom of association
and the effective recognition of the right to collective
bargaining

Principle IV

They should eliminate all forms of forced and
compulsory labour

Principle V

They should effectively abolish child labour

Principle VI

They should eliminate discrimination in respect of
employment and occupation

Environment

Principle VII

Businesses should support a precautionary approach
to environmental challenges

Principle VIII

They should undertake initiatives to promote greater
environmental responsibility

Principle IX

They should encourage the development and
diffusion of environmentally friendly technologies

Fighting Corruption

Principle X

Businesses should work against corruption in all its forms, including extortion and bribery

Social

Disclosures

SITIP Group people

Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. Steve Jobs

Sitip follows the spirit of the SA 8000 standard in the following ways

For several years, SITIP has been pursuing a systematic and timely commitment to complying with the requirements of the SA 8000 standard, aimed at:

  • promoting a culture of respect for the individual and for health and safety in the workplace and environmental protection
  • eliminating the use of child labour
  • eliminating all possible forms of prejudice, whether on the grounds of nationality or ethnicity, gender, religion, political or trade union membership, sexual orientation, disability, marital status or any other form of discrimination
  • promoting workers’ freedom of association and participation in trade union organisations and in collective bargaining

Group employees and collaborators
by Gender (2024)

Women

122 (21%)

Men

470 (79%)

Taking the Sitip Group as a whole, the total number of workers (employees and non-employees) was 592, with a significant predominance of men (470), who made up 79% of the workforce.
This imbalance is easily explained by the nature of the Group’s manufacturing operations that, in line with the broader industry trend for this type of work, employs mainly male workers. The 2024 employee headcount did not include Asolo Invest (1 employee), in line with the reporting scope defined in the 2023 Sustainability Report (see: Sustainability reporting criteria).

Employees and collaborators 2024
by geographic area

Italy

398 – 63%

Foreigner

236 – 37%

Health and safety

A health and safety management system is in place, covering all activities performed by employees and non-employees (contractors, transporters) as well as, more generally, visitors and anyone accessing the Group’s workplaces.
In Italy the system complies with the legal provisions in force (Italian Legislative Decree 81/08): through the workers’ safety representatives (RLS/trade union representatives), employees participate in collaborative monitoring activities to identify possible risks, which can then be reported by the workers themselves.

Sitip S.p.A. has implemented a procedure for reporting both accidents and near misses, which also applies to external personnel and contractors operating on the company’s premises. The objective is to analyse every event and adopt corrective measures as part of a continuous improvement approach.
Nylon Knitting, the Group’s second-largest production site in terms of workforce, has also adopted a dedicated procedure for managing incidents involving employees, contractors, and visitors, so ensuring the necessary safeguards for risk mitigation and the implementation of corrective measures. As part of the planned extension of SA8000 certification in 2026, the procedure at Accoppiatura di Asolo will include the ability to report near misses.

The main safety documents
available to employees

Among others, employees have access to these documents which help implement and monitor safety:

  • Risk assessment and related improvement plans (given to the RLS to share with the
    workforce)

  • Safety procedures with prevention and protection measures;

  • Safety data sheets of the hazardous substances and mixtures used to carry out
    individual tasks

  • Safety procedures for plant and machinery

SITIP Group research strives to promote new products and applications in collaboration with customers and suppliers. A key component of product innovation is the focus on using yarns and raw materials with reduced or lower environmental impact. This research has led to the development of NATIVE Sustainable Textiles, a technology that is applied to fabrics made from recycled yarns and chemicals with a low environmental impact. The eco-friendly products are certified with OEKO-TEX® Standard 100, bluesign e GRS.

Transparency, traceability and end-user health and safety

Responsible supply chain management, and in particular, promotion of the transparency and traceability of raw materials along the entire supply chain, is a key issue for the Group. In line with the technical standards of the adopted certification schemes, suppliers are carefully selected in order to encourage and guarantee high product traceability. For example, GRS certification guarantees that products are made with recycled materials, in accordance with environmental and social criteria applied in all stages of production, including the traceability of the raw materials used. For more detailed information, see chapter 3.4 Resource use and circular economy.

Operating on a B2B market (see section 2.4.1 A strategy that is all about quality), the Group safeguards the health and safety of end customers primarily through the guarantees provided by product certifications in accordance with specific international standards. These include OEKO-TEX® Standard 100 (Sitip S.p.A. and Nylon Knitting Ltd) and bluesign (Sitip S.p.A. only), covering the entire product life cycle, as well as traceability through ISO 9001 certification (Sitip S.p.A., Nylon Knitting Ltd and Accoppiatura di Asolo S.p.A.).

More specifically, from the earliest stages of the production chain, Sitip takes great care to prefer the purchase of local or European raw materials, operating in full compliance with national and international regulations. In the procurement phase, it works with suppliers to define the requirements of raw materials with reference to the standards and certifications to be met.

Even with corporate customers, the Group has taken and shared various actions to protect the health and safety of end-users, always fine-tuning the product features on the basis of quality criteria and safety policies. The actions have involved changes in the terms of purchase and production, which are defined in the operating procedures as part of the quality management system.

The parent company Sitip SpA, in particular, adheres to the ZDHC programme, focusing on the principles of transparency and management of chemicals according to an integrated prevention and precaution approach. Furthermore, in accordance with bluesign certification guidelines, since July 2015 Sitip
SpA has ensured a responsible and sustainable production system for eliminating the use of harmful substances from the very beginning of the production process.

How certifications benefit the end user

In addition to enabling and supporting more efficient and sustainable processes, certifications are also a guarantee for the consumer. This is how.

OEKO-TEX® Standard 100

The OEKO-TEX Standard 100 allows each certified product to carry the Confidence in textiles label, which guarantees the end user that the purchased product was manufactured using environmentally friendly processes and tested for harmful substances.

bluesign

The bluesign Approved label is awarded to components that are tested and produced in a sustainable manner. In order to apply the bluesign label, at least 90% of the fabric and 30% of the accessories must be approved.

ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) programme is an initiative committed to achieving zero discharge of hazardous chemicals in the textile, leather and footwear value chain to ensure the health and safety of the end user.

Environmental

Disclosures

Climate change mitigation strategy and policy

A current approach to climate change mitigation

Aware of the energy-intensive nature of its operations, particularly those of Sitip S.p.A. and Nylon Knitting Ltd, the Sitip Group recognises the importance of energy efficiency. The production processes, which include spinning, warping, weaving, dyeing, stentering and laminating, demand high energy consumption to ensure high quality standards. The updating of the Integrated Quality, Environment and Energy Policy has further strengthened the Group’s focus on emissions, especially those along the value chain, explicitly reaffirming its commitment to reducing its carbon footprint through the adoption of practices aligned with ISO 14064 – the Greenhouse Gas Emissions of an Organisation. This policy also takes account, albeit indirectly, of the views of stakeholders, incorporating the material topics identified through the Group’s materiality assessment, which involved a process of stakeholder engagement.

The Sitip Group has chosen to adopt international standards and collaborate with strategic stakeholders in defining its approach to environmental sustainability and climate change management.

Key initiatives include:

The Group’s adherence to the environmental principles of the UN Global Compact, with particular reference to the following:
– VII: Businesses should support a precautionary approach to environmental challenges.
– VIII: They should undertake initiatives to promote greater environmental responsibility.
– IX: Encourage the development and diffusion of environmentally friendly technologies, with reference to energy and climate goals.

Participation in the Carbon Neutrality Partnership promoted by Alcantara S.p.A., with the aim of embarking on a Carbon Neutrality pathway for the products and services supplied to Alcantara® through a rigorous process of measuring, reducing and offsetting CO2 emissions from production
processes, supported by verified and certified projects.

Certification with ISO 14064-1:2019 for the Greenhouse Gas Emissions of an Organisation, which has enabled emission mapping (limited to Sitip S.p.A.), identifying the most significant sources for targeted interventions.
This calculation was made in both 2023 and 2024. A comparison of the two years shows a 10% decrease in emissions in 2024 compared to 2023.

What are GSE White Certificates

White Certificates, or Energy Savings Certificates (ESC), are tradeable instruments that certify energy savings achieved through efficiency improvements in final energy use. Each certificate corresponds to the saving of one Tonne of Oil Equivalent (TOE) and is recognised by the GSE for every TOE of savings achieved.

The certificates are issued by the Italian energy market Operator (GME) to designated accounts, based on instructions from the GSE. They may be traded on the GME-managed market or via bilateral agreements. To participate in this trading system, authorised entities must be registered on the GME’s Electronic Register for ESCs.

White Certificates are the primary incentive mechanism for energy efficiency, covering sectors such as industry, network infrastructure, services and transport, as well as initiatives in the civil sector and measures for behavioural change.

Sitip S.p.A.

Since June 2018, a 1.5 MW natural gas cogeneration plant has been in operation. The electricity generated supplements the energy drawn from the grid, with the steam and hot water produced being used in production processes such as dyeing and washing, as well as for heating the premises.

In 2022, a 1 MW photovoltaic system was installed, becoming operational in 2023. Its estimated annual output is approximately 1000 MWh and its expansion to 2 MW is expected by year-end 2025. In 2024, production amounted to 961 MWh.

Since 2022, the company has been purchasing 100% renewable electricity backed by Guarantees of Origin, thereby reducing CO2 emissions.

The closure of departments operating with obsolete technologies is planned for 2025, which will cut energy consumption and greenhouse gas emissions.

Nylon Knitting Ltd.

In 2023, a 1 MW photovoltaic system was installed, generating 193 MWh of electricity. In 2024, output increased to 1,272 MWh.

Improvements were made to the energy efficiency of the spinning process (reducing energy consumption), and a low-pressure compressor was replaced with a next-generation model.

Accoppiatura di Asolo S.p.A.

In 2022, a 112 kW photovoltaic system was installed, which generated 107.6 MWh of electricity in 2024.

In 2024, inverter systems were installed on some components of the lamination machines.

Breakdown of energy consumption in 2024

Total energy consumption
86.248
100%
Energy consumed from natural gas for production and heating
52.167
60,5% *
Electricity purchased from non-renewable sources
19.188
22,2%
Energy consumed from crude oil and petroleum products
10.415
12,1%
Electricity purchased from renewable sources
3.742
4,3%
Electricity self-produced and consumed from renewable sources
736
0,9%

* This includes 17,186 MWh of natural gas (equivalent to 1,703,565 m3) used for self-production and consumption of
electricity from non-renewable sources (Sitip cogeneration plant) equal to 6,613 MWh in 2024.

Pollution

Policies related to pollution

The most significant pollution issues, aside from greenhouse gas emissions, concern the release of other atmospheric pollutants across all Group companies. In the case of Sitip S.p.A. and Nylon Knitting Ltd, further factors include the generation of industrial wastewater and potential risks of soil contamination linked to the use of chemicals. These issues are managed through the Environmental Management Systems, certified with ISO 14001, at Sitip S.p.A. and Accoppiatura di Asolo S.p.A. Specifically, the ISO 14001 certification obtained by Sitip S.p.A. has made it possible to identify risks and formalise their management with respect to chemical management.

From a regulatory perspective, Sitip S.p.A. operates in compliance with the Integrated Environmental Authorisation, while Accoppiatura di Asolo S.p.A. adheres to the Atmospheric Emissions Authorisation.
(Nylon Knitting is subject to Maltese legislation, which does not require specific authorisations to be issued). Sitip S.p.A. has undertaken a detailed mapping and analysis of the production processes and operations that generate emissions and industrial wastewater involving the use of chemicals.

Through these measures, the Group complies with the regulations on pollution, a preventive approach to managing environmental issues, overseen by the Group’s Steering Committee.

This commitment to sustainability also involves ongoing research and the application of best available industrial practices and advanced technologies for reducing emissions and pollutants.
Efforts are focused in particular on the selection of chemicals with a lower environmental impact. In this regard, the Sitip Group’s adherence to the ZDHC and bluesign programmes attests to its commitment to align its choice of raw materials with the most stringent international standards for minimising risks.

Following such measures, the systems used to limit the generation of pollutants are:

For atmospheric pollutants, the installation of abatement systems, such as wet electrostatic precipitators and scrubbers, to reduce the presence of such substances in emissions;

For water, Sitip S.p.A. operates an equalisation tank that collects industrial wastewater, which is subsequently transferred to an external treatment consortium via a direct connection. A new MBBR (see box) pre-treatment system for wastewater is scheduled for completion in 2025, with the aim of lowering pollutant levels prior to discharge to the external consortium.

How abatement systems are monitored

To ensure optimal performance over time, the monitoring of abatement systems is based on specific operations. These include:

A continuous automatic system to monitor emission values, with autonomous regulation of abatement equipment

Regular checks of process parameters

Regular performance of routine maintenance

Extraordinary measures when necessary

Laboratory analyses of the concentration of pollutants released into the atmosphere and found in industrial wastewater, also used to verify compliance with national regulations and the Integrated Environmental Authorisation

Periodic review of the effectiveness of the measures implemented, taking into account monitoring results and technological developments

Thanks to management focused on the best available standards and technologies, supported by regular checks and timely and ongoing maintenance, no production stoppages caused by abatement system malfunctions occurred during the reporting period.

Laboratory analyses also confirmed full compliance and that the pollutant concentration limits in emissions were not exceeded, in line with the provisions of current national legislation and the Integrated Environmental Authorisation.

With regard to wastewater, the parent company is closely involved with managing the associated potential impacts. In this field, wastewater is collected through dedicated pipes and conveyed to an equalisation tank, which then discharges into a public treatment plant, operating in accordance with the Integrated Environmental Authorisation in force.

The minimum pollutant concentration limits in discharges are set by national legislation and the environmental permit, which also considers the characteristics of the receiving reservoir.
To this end, detailed mapping and analysis were carried out of processes and operations that require water use and generate, or could generate, water discharges, as well as of the chemicals used or produced.

The analyses carried out made it possible to identify potential water pollution risks and to define the measures necessary to minimise their impact.

Specifically, the following measures were adopted for accidental spills:

Installation of spill containment tanks and monthly check of their watertightness

Verification of conformity of packaging and containers for chemicals and storage

Preparation of emergency plans

Provision of emergency equipment

Training and operational simulations on how to promptly manage any chemical spills

Use of chemicals with lower environmental impact compliant with the following standards: bluesign, ZDHC and Oeko Tex Standard 100

Protecting water resources

At Sitip S.p.A., water is drawn from surface water bodies, groundwater, wells and mains water supplies, in compliance with public concessions for water withdrawals. These concessions require annual monitoring of water quality through testing conducted by an accredited laboratory, and the regular communication to the relevant authorities of both the quantities withdrawn and the corresponding results.
In light of these data and water stress assessments (see box), the Sitip Group focuses particularly on the potential negative impacts that water withdrawals may have on the economy and local communities. If not managed correctly, water withdrawals can result in the overexploitation of aquifers and surface water bodies, making it more difficult to access water resources. Over the long term, this could compromise company operations by reducing the availability of water needed for manufacturing and increasing the risk of prolonged operational disruptions.

Water stress areas and how they were identified

The World Resources Institute defines water stress as the ratio of water demand to renewable supply of surface and groundwater. Water stress can therefore refer to the availability, quality or accessibility of water. It can be measured at watershed level and is based on elements such as the potability of water or accessibility requirements for ecosystems. A water stressed area is therefore an area considered particularly sensitive with respect to the ability or inability to meet the human and ecological water demand.
To identify the water-stressed areas where the Group is present, the World Resource Institute‘s Water Risk Atlas was consulted, as it provides a complete overview, drawing from a highly granular database, and gives access to hydrological models aligned with the analyses of the most recent Assessment Reports of the Intergovernmental Panel on Climate Change (IPCC). According to these analyses, regions classified as water stressed include Veneto (Italy) and Nofsinhar (Malta). In Italy, however, the largest water withdrawals are from the Group’s main site in Lombardy.

Disclosures

on Business

Conduct

I never wanted to define myself as a net profit but rather as a set of values
Howard Schultz

A corporate culture based
on integrity and transparency

The Group is committed to building day-by-day a corporate culture based on awareness of values such as integrity and transparency and on adoption of virtuous behaviour, also by defining precise internal rules and controls to prevent incidents of corruption and non-compliance with regulations in force in the various jurisdictions in which it operates.

This commitment was consolidated in 2022 when the parent company Sitip S.p.A. adhered to the UN Global Compact of the United Nations with a special focus on the prevention of corruption, as set out in Principle 10. More specifically, this Principle requires participants not only to avoid corruption in all forms, but also to develop strong policies and concrete programmes to prevent it.

The goal for companies is therefore to actively contribute, working with governments, UN agencies and civil society, to a more transparent world economy.

The main tool through which the Group promotes a corporate culture of transparency, loyalty and integrity is the Code of Ethics. All three companies have a Code of Ethics and, more specifically, Sitip SpA approved a new updated version of the document, integrating the whistleblowing section (see below) on 1 January 2024.

The Group relies on this safeguard to prevent the risk of inappropriate or unlawful conduct. In particular, the Code of Ethics devotes a specific paragraph (3.6) to the prevention of corruption, both direct and indirect, including extortion and bribery which all Group companies are committed to combating. Consequently, the Sitip Group does not tolerate any kind of behaviour aimed at offering or receiving unfair or unjustified advantages. Therefore, it will not initiate or continue a relationship with anyone who does not intend to comply with these principles.

The Code of Ethics has been shared with all internal and external stakeholders, starting from the highest governance body (Board of Directors), and is made known to all employees of Group companies as soon as they join the company. All recipients are obliged to promptly report any non-compliances and any requests entailing a breach, made by anyone.

Each company’s Steering Committee verifies compliance with the provisions of the Code and, in order to manage, and preferably prevent, conflicts as soon as they arise, takes steps to deal with problems on a day-to-day basis. The Code of Ethics is also one of the documents implementing the strategy of transparency in business ethics regarding external stakeholders, providing support in audits conducted by customers or suppliers, where ethics is one of the aspects investigated.

A tool to give employees a voice

Among the tools introduced to foster active listening, the Suggestion Box plays a central role. Present at all three companies, it is an informal communication channel designed to bring forward ideas, operational challenges and proposals for improvement. Its purpose is to engage all personnel in the continuous improvement process, encouraging collaboration and dialogue between employees and management on topics such as internal services, productivity and quality, use of materials and machinery, occupational health and safety, energy efficiency and environmental and social impacts. The spirit of the Suggestion Box fully reflects the Group’s corporate culture, which places actively listening to employees among its core values. Through this channel, workers are also free to report, in an unconditional and independent manner, any non-conformities in relation to the requirements of the
SA8000 standard, thereby contributing to the strengthening of ethical and social practices. In addition, the parent company’s Social Policy provides an additional channel for submitting anonymous reports. This document includes contact details for external bodies that workers may approach – alongside the designated internal representatives – regarding any queries or reports concerning SA8000 compliance.

In addition to the designated company representatives, employees can also contact the following bodies responsible for the company’s SA8000 certification:

Certification body IQNET Ltd – Bollwerk 31 CH-3011 Bern

e-mail: headoffice@iqnet.ch – Tel.: +41 31 310 24 40

Accreditation Body SAI: SAAS – 220 East 23rd Street, Suite 605, New York 10010 USA

e-mail: saas@saasaccreditation.org – Fax: +212 684 1515

ESRS

Content

Index