Chairman’s Interview

Mr. Federico de’ Stefani, with the Stock Market listing, following the Legislative Decree 254/16, SIT is required to draft a sustainability strategy and “report upon it” through a Sustainability Report. What impact will this have on SIT Group’s strategies and operations?

SIT is not just the name of our company. SIT also identifies the initials of the three words of our motto: Safety, Innovation, Technology. Attention to safety is part of our DNA as our products are designed and developed to guarantee the control, correct regulation and safety of gas appliances, therefore making homes and workplaces more comfortable and safer. Product safety now includes health and safety at work, which is another cornerstone of our general and day-to-day strategic focus. One of our latest initiatives was a safety course involving approximately 400 people in Italy for a total of 3,722 training hours.

As for the other two words, Innovation and Technology, what role do they play in sustainability?

One of our business areas is Smart Gas Metering, for which we develop products to facilitate immediate control of consumption by the end-user, thus enabling more informed behaviour while reducing environmental impacts. However, there are other concrete examples that highlight our focus on sustainability driven actions. At our Rovigo plant, for example, a new washing machine has been installed to wash die-castings with water and surfactants instead of chemical products. We have introduced smart lighting solutions, such as LED lighting, with independent adjustment of lighting intensities, because we think that the reduction and optimization of consumption is the best way to reduce impacts and achieve sustainability.

Sustainability also comprises Ethics and Business Integrity. What concrete actions has SIT implemented on these fronts?

SIT has invested heavily in this direction – in particular in three different and complementary areas. In 2018, we finished writing our Ethics Code, which we are also circulating to all foreign subsidiaries. The clarification of our values, of the ethical principles and rules of conduct that all internal stakeholder, including directors, statutory auditors and employees, are required to respect goes beyond the mere logic of compliance, because such values, principles and rules reflect the identity of SIT and its need to maintain consistent conduct. In 2017, we also prepared our Ethics Code for Third-party Suppliers and Intermediaries, which expresses the basic principles third parties, individuals and entities must comply with in supplying the Group with goods, services or intermediary services. The company has begun to disclose the Ethics Code to suppliers: out of 1,745 recipients, 518 (30%) responded positively by sharing the document. In 2019, we expect to significantly increase this percentage of participation by suppliers. Finally, in 2017, SIT issued its Code of Non-Discrimination and Diversity and Code of Basic Working Conditions, which formally detail our commitment to guaranteeing a workplace, across the world, free from discriminatory practices and attitudes. These codes were introduced on an entirely voluntary basis because they constitute the best practices of forward-thinking companies and are wholly consistent with the values of SIT.  

The interview continues in the following pdf file available for download.

Chairman’s Interview (pdf – 183.04 KB) download