Greenhouse gas emissions

We periodically measure and report the greenhouse gas (GHG) emissions generated by our operations to verify the effectiveness of the reduction strategies implemented and to demonstrate our consistency with the efforts we require from our customers, the companies in which we invest and our suppliers.

The monitoring of our emissions, part of our environmental management system, involves periodic checks subject to internal audits and to assurance by an independent third party (for more information you can read the Independent Auditors' Report on the Consolidated Non-Financial Statement in the Annual Integrated Report).

We calculate our greenhouse gas emissions using the WRI GHG Protocol, applying both location-based and market-based methods.

The first method, location-based, involves accounting for emissions from the purchase of electricity, applying national average emission factors for the different countries in which we purchase electricity.

Instead, the market-based method determines GHG emissions from the purchase of electricity by considering the specific emission factors reported by our suppliers. For the purchase of electricity from renewable energy sources, a zero emission factor is attributed for the scope 2.

As detailed below, the 2020 reduction target is widely achieved and exceeded; the net reduction is also due to the limitation of work travel and the low presence of staff in the offices due to the covid-19 pandemic.