december 2015

Corporate Social Responsibility review n.3

CSR and businesses pag.1 CSR observatory pag. 3 Finance and ethics pag. 2

Snam S.p.A. Investor Relations CSR and businesses

Pfizer: employees working for the community

They transformed an uncultivated area at the "Romaltruista" project, the non-profit organi- the one in Rome. The companies that have Rome’s Primary School “Cardinal Massaia” zation specializing in the coordination of turned to "Milanoaltruista" include Allianz into an educational garden open to all chil- corporate volunteering. Romaltruista, a (painting, cleaning and gardening for dren. To step into the shoes for two days of member of the Handson Network for Rome, "L'Amico Charly" in ) and Genworth carpenters and painters were 80 employees helps companies to identify organisations to (work in the green areas of Milan together at the pharmaceutical company Pfizer, who support and activity to engage in. It also with the organisation “Comitato Ponti”). decided to make their own contribution, deals with general organization and mana- thanks to the dedicated hours in the working gement of groups of volunteers. day provided by Pfizer for volunteer work. The same program was launched in Pfizer has indeed embarked on the path of Milan with the non-profit organization social solidarity, participating in the "Milanoaltruista", the sister organisation to

The growing appeal of “green” business trips

Sustainable business trips: this is the new industry, when choosing a hotel, eight out of (46.4%), in 2014 travelling by train saw the trend in business travel, increasingly favou- ten business travellers pay attention to the greatest increase (+ 5.8%), thanks in particu- red by companies, as it not only improves sustainable practices used by hotel chains. lar to high-speed trains. their reputation but, in many cases, also As for , the Business Travel Observatory generates cost savings. at the University of Bologna found that, even According to data from Carlson Wagonlit, though travelling by car remains the prefer- one of the biggest international players in the red mode of travel for business people

Companies adopt schools

The Italian School Fund association was In turn, the companies can directly manage over Italy, as well as two schools abroad. recently founded, with the aim of collecting their donations to schools via this support The children, armed with an ad hoc tea- resources and materials from private com- mechanism. Also has focused on the ching kit, were able to use the game to panies to give to schools in need. Kinder- school with the "Storie che raccontano il learn about sustainable development, the gartens, primary schools and secondary futuro" project, organized with the support relationship between man and science, and schools can request via the web magazine of the Ministry of Environment and with the the proper use of resources. The project Vivaio (fondoscuolaitalia.it) what they need collaboration of Federparchi-Europarc Italia. also includes a competition: each class is and what is difficult to find. A committee of The project this year involved about 400 called on to create an artwork, which is founding members will select the requests primary schools with a total of 900 classes examined by a special committee that gives depending on urgency and priority. and nearly 20 thousand students from all awards to the three most deserving.

Corporate Social Responsibility review n.3

Ten players committed for climate change

In October 2015, ten CEOs from some of the projects and investments aimed at redu- eliminating “gas flaring” (gas flared in the most important international oil companies cing the intensity of gases and the green- deposits), and reducing methane emis- (, Shell, BP, Statoil, Total, , house effect. sions during extracting operations. Pemex, BG Group, , Reliance Indu- In particular, they will focus on promoting stries) agreed to work together to reinforce gas and renewable energy instead of coal,

Finance and ethics

The growing role of Ethical Funds is Green Bonds to finance climate Goldman Sachs’ commitment to the confirmed investments environment

The term “socially responsible investment” Green Bonds represent a starting point for Goldman Sachs has upped its bet on the refers to all forms of ethical finance that financing the initiatives proposed at the Cli- environment and is attacking head on the respect ESG criteria (environmental, social mate Change Conference in Paris. The first greenhouse effect with a “billion dollar” com- and corporate governance). In addition to signal came from France itself, when three mitment. The US investment bank has an- asset management (investment funds), this of its main banks - Société Générale, Crédit nounced that by 2025 it plans to spend $150 also includes microcredit, social housing and Agricole e BNP Paribas – launched several billion on financing or investing in “clean” private equity. Green Bonds on the market, highlighting the energy projects and technologies – almost According to the results of an analysis on the role that these instruments could play in the four times higher than the $40 billion target topic by Vigeo (the European leader for CSR future. of the previous ten-year plan. rating), at the end of June 2015 in Europe, The challenge is massive though: it has Goldman Sachs’ new strategy could therefo- the number of active funds considered been calculated that between 650 and 800 re offer a significant boost to the renewable “socially responsible” (“Ethical funds” or “SRI billion dollars is needed each year to finance energy sector, which has recently gone funds”) totalled 1,204 (+26% compared to the investments required to reduce CO2 through some turmoil, due in part to the drop the previous year), with managed assets of emissions and to convert conventional ener- in price of traditional and rival energy forms, 136 billion euros (+7% Vs 2014). gy plants into alternative energy systems. from oil to natural gas. In terms of assets, France and the UK are confirmed as the most important markets, with managed assets of 47 and 20 billion euros respectively (equalling 36% and 16.8% of total European SRI assets). Swi- tzerland comes next (13 billion euros), follo- wed by the Netherlands (12 billion euros). France is also the leader in the European market in terms of the number of Ethical funds (396, up from 263 in 2014). In Italy the presence of Ethical Funds is limited but growing: there are 19 in total (vs 12 in 2014), with managed assets of 3 billion euros (2.2% of total European SRI assets). In 2014 the SRI Funds market quota represented 1.7% of the whole European market of investment funds.

Corporate Social Responsibility review n.3

CSR observatory

News from Cop 21 (Conference of the Parties, 21st edition), the World Climate Change Conference in Paris

Limit global warming to below the critical ded to limit polluting emissions and to pre- neurs, including Bill Gates and Mark Zucken- threshold of 2 degrees celsius compared to serve the atmosphere and biodiversity. berg, announced the creation of a 20 billion preindustrial levels, by reducing the use of The agreement - valid from 2020 - has been fund to support research into clean energy. fossil fuels and intensifying efforts to not subdivided into 29 sections, which countries After Cop 21, an agreement was signed by exceed the 1.5 degrees threshold; create a have to respect (the agreement is legally government institutions and oil companies in $100 million annual fund running until 2020, binding). The section relating to reducing 45 countries, in order to end by 2030 the destined for developing countries; undergo a greenhouse gas emissions in the atmosphe- “gas flaring” in crude extraction sites: this revision every 5 years of national strategies re comes first: the goal to be achieved by should lead to a reduction of 100 billion tons to cut greenhouse gas. 2030 is to contain 40 billion tons of genera- of CO2 emissions. Finally, an agreement These are some of the targets in the climate ted quantities, especially in the transport has been signed by 13 leaders in the car agreement, signed after 23 years of failed and energy sectors (today we already pro- industry to focus on decarbonizing automoti- attempts, on 12th December in Paris by duce 35.7 billion). In this scenario, natural ve transport. delegates from 195 countries, gathered to- gas, as a fossil source with low CO2 emis- gether in the French capital to take part in sions, is destined to play an important Cop 21, the 21st United Nations climate “transition” role, in combination with renewa- conference. By continuing to burn hydrocar- ble energy sources, moving towards increa- bons at the current speed, the global tempe- singly clean sources of energy. rature is destined to increase by 3.5 degrees Cop 21 was also an incentive to ratify fur- by the end of the century, a level that would ther important agreements. Before the con- bring irreversible climate change. ference, at the end of November, a group of The final document brought the twelve days twenty countries (including US, UK, Germa- of meetings, conferences and negotiations to ny, India and Brazil) agreed to double in- a close. Country representatives were able vestments in green energy. At the same to outline the health status of the planet and time, the Bec (Breakthrough Energy Coali- elaborate on the intervention strategies nee- tion), a group of Silicon Valley entrepre-

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Corporate Social Responsibility review n.3