The SEA Group (hereinafter also the “Group”) has published an annual Sustainability Report according to the GRI Guidelines since 2010.
The 2018 Consolidated Non-Financial Statement (hereinafter the “NFS”) - which from the 2017 Statement has incorporated the Sustainability Report - concerns the Group's performance during the year ended December 31, 2018, in accordance with Legislative Decree 254/2016. Pursuant to Article 5 of this Decree, it takes the form of a separate report that includes specific wording so as to be considered an NFS as per the regulatory requirements.
In continuation with 2017, the 2018 NFS was drafted according to the GRI Sustainability Reporting Standards (2016) and the Airport Operators Sector Disclosures (2014), both published by the Global Reporting Initiative (GRI), in compliance with the option “in accordance - core”. The GRI Content Index has been included at the end of the document, with the aim of providing a full account of the coverage of the GRI indicators associated with each topic identified as material.
The document has been prepared in order to ensure an understanding of business activity, its performance, results and impact on the topics deemed material set out in Art. 3 of Legislative Decree 254/2016.
The non-financial disclosures contained in the NFS reflect the principle of materiality or relevance, a key characteristic of the GRI Standards that is also defined in the reference legislation: the materiality analysis process is described in the section “Prioritizing our commitments: the materiality matrix”. The materiality matrix was approved by the Board of Directors on December 20, 2018, after a deep review of the materiality analysis process.
This document thus contains a description of the major policies applied by the undertaking, the management models and results achieved by the Group in 2018 relating to the topics expressly cited in Legislative Decree 254/2016 (environmental, social, personnel-related, respect for human rights and the fight against corruption), as well as the main risks identified relating to the above topics and management methods.
It should be noted that the human rights topic was not found to be highly material in the materiality analysis process. It should also be emphasized that SEA has established procedural and organizational safeguards for managing and monitoring matters relating to applicable legislation. As part of its supplier qualification process, the Group has integrated specific requirements regarding the management procedures of aspects such as parity of remuneration, non-discrimination, freedom of association and collective bargaining and child labour.
Water consumption and anti-corruption are adequately disclosed in this report under the respective material topics of “Containment of land consumption” and “Corporate Culture Inspired by Ethical Values”.
It also bears noting that the Company regards the topic of Airport Safety and Security as a prerequisite for all of the Group's activities. The topic in question has not been included in the Materiality Matrix because it has been excluded from the process of evaluation and dialogue regarding the importance of the various issues undertaken by the management and stakeholders.
The boundary of qualitative information and quantitative data regarding social and environmental aspects includes companies consolidated line-by-line in the Group's Consolidated Financial Statements.
The financial reporting boundary is the same as for the Group's 2018 Consolidated Financial Statements1.
It should be noted that from 2018, following the entry into force of the International Financial Reporting Standard IFRS 15, the incentives provided to airline companies to develop traffic were classified as a reduction of revenues. For comparability purposes, the figures of previous years were reclassified.
In 2018, no significant changes in relation to the size, ownership structure and supply chain of the Group took place.
In order to permit an assessment of performance over time, a comparison with the figures from the years 2017 and 2016 has been included. In addition, in the interest of providing an accurate account of performance and ensuring the reliability of the data, the use of estimates has been kept to a minimum and appropriately disclosed where applicable.
This document was approved by the Board of Directors on February 28, 2019.
It is also subject to limited examination ("limited assurance engagement" according to the criteria indicated by the ISAE 3000 Revised standard) by Deloitte & Touche S.p.A. which, at the end of the work performed, issued a specific report on the compliance of information provided in the non-financial consolidated statement drawn up by the SEA Group as per Legislative Decree No. 254/2016.
The document also uses the following terms:
- SEA for SEA SpA;
- SEA Energia for SEA Energia SpA;
- SEA Prime for SEA Prime SpA.
The Group's CSR Function may be contacted for information regarding the Sustainability Report: Sebastiano Renna – Corporate Social Responsibility Manager e-mail: email@example.com.
This document is also available from the SEA Group's website, www.seamilano.eu, in the section “Sustainability”.
1 For the list of Group companies consolidated line-by-line, reference should be made to Section 2.4 - Consolidation method and principles and Section 2.5 Consolidation scope and changes in the year of the Explanatory Notes to the SEA Group Consolidated Financial Statements.