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Methodology of Comparison 2013

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Methodology of Comparison 2013 METHODOLOGY OF COMPARISON 2013 Comparative Analysis of Sustainability Performance Methodological Remarks Convinced that a comparison of environmental, social and governance performance is of interest, not only to the Company itself, but also to its stakeholders, certain comparisons between Terna’s results and those of other com- panies are included in the 2013 Sustainability Report, as was the case in the preceding three years. Listed below are the main criteria adopted in the analysis, as an introduction to the reading and interpretation of the comparisons of individual indicators in the Report: • three panels of companies were identified: an industry panel, composed of the European transmission system operators and the major extra-European operators in terms of kilometres of lines managed; and two multi- industry panels, the first relative to large Italian companies (the 40 companies of the FTSE-MIB at 18 December 2013) and the second relative to the best international performers (the 24 world Sustainability Industry Group Leaders, identified by the RobecoSAM sustainability rating agency and disclosed at the publishing of the Dow Jones Sustainability Index of September 2013). The purpose of the three panels is to guarantee, also relative to the type of indicator reviewed, a comparison between companies with the same operational characteristics, an Italian comparison, and a comparison with the top international performers. The Terna figures do not contribute to the calculation of the average in the case of the RobecoSAM – Supersector Leaders panel; • the companies considered from among those in the three panels were those which publicise the information necessary for comparisons either on their websites, through the Sustainability Report (even if not prepared following the GRI guidelines) or through other documentation (HSE Report, financial report, etc.). This led to a reduction in the sample compared to the starting panel, as demonstrated in the following table; • the use of published Sustainability Reports entails reference to 2012 data, since the comparisons were drafted when the 2013 Reports were still being prepared, as was the case for Terna. It must be noted that, despite the exclusion of data which was explicitly not homogeneous, in numerous cases doubts remain around the actual comparability between companies, especially when the average and best perfor- mances are viewed from a distance: it is in fact probable that significant deviations depend on different application criteria – not explained – of the GRI protocols, rather than on particularly progressive corporate behaviour. Some of the indicators considered (water consumption, waste produced, CO2 emissions) are expressed as physi- cal quantities in absolute terms and therefore show very different levels depending on the type of production acti- vity and the size of the company. In these cases, the comparison provides information on the varying significance of the environmental aspects being considered for the individual companies, but does not fulfil the task of making the performance comparable. For further details, see the Terna website and the note “Comparing sustainability performance: Terna’s experien- ce” contained in the study “Beyond the financial figures: companies and collective well-being”, drafted by CSR Manager Network and ISTAT, and available on their respective websites (www.csrmanagernetwork.it and www. istat.it/it/archivio/85255). TSO Panel FTSE-MIB Panel ROBECOSAM Panel Companies considered (No.) 55 41 24 Companies with sustainability document (No.) 23 27 24 Companies with relevant data (No.) 30 27 24 TSO Panel The following table sets out the transmission operators which have been analysed, specifying the country in which they operate and any additional sectors in which they have interests. Finally, an “x” in the final column indicates the companies for which it has been possible to acquire the relevant data for comparison. Name Country Other Sectors Data acquired 50Hertz Transmission Germany American Electric Power USA Generation of electrical energy x Amprion Germany Augstsprieguma tīkls Latvia Centrais Elétricas Brasileiras Brazil Generation of electrical energy x ČEPS Czech Republic China Southern Power Grid China x Creos Luxembourg Luxembourg Gas x Crnogorski elektroprenosni sistem AD Montenegro Croatian Transmission System Operator Croatia x Cyprus Transmission System Operator Cyprus EirGrid Ireland Electroenergien Sistemen Operator Bulgaria Elektro-Slovenija Slovenia x Elering Estonia Elia System Operator SA Belgium x Energinet.dk Denmark Gas x Eskom South Africa Generation of electrical energy x Fingrid Finland x Gujarat Energy Transmission Corp. India Hydro-Quebec Canada Generation of electrical energy x Independent Power Transmission Operator Greece Interconexion Eleéctrica SA Latin America Telecommunications x International Tranmission Company/Entergy USA x ISO BiH Bosnia-Herz. JP Elektromreža Srbije Serbia Landsnet Iceland x Litgrid Lithuania Maharashtra State Electiricity Transmission India MAVIR Hungary MEPSO Macedonia National Grid Electricity Transmission plc Great Britain Gas x National Grid US US Gas x Polskie Sieci Elektroenergetyczne Poland x Power Grid Coporation of India Ltd India Telecommunications Red Eléctrica de España Spain x Redes Energéticas Nacionais Portugal Gas x Réseau de Transport d'Électricité France x Rosseti / Federal Grid Company Russia x Scottish and Southern Energy Scotland Generation of electrical energy x Scottish Power Transmission plc Scotland Generation of electrical energy x Slovenska elektrizacna prenosova sustava Slovakia State Grid Corporation of China China x Statnett Norway x Svenska Kraftnät Sweden Gas Swissgrid ag Switzerland System Operator for Northern Ireland Northern Ireland TenneT TSO B.V. Netherlands x TenneT TSO GmbH Germany x Terna Italy x Transelectrica Romania Transmission Corporation of Andhra Pradesh India TransnetBW GmbH Germany x Verbund Austrian Power Grid Austria x Vorarlberger Übertragungsnetz GmbH Austria FTSE-MIB Panel The following table refers to the companies in the basket as at 18/12/2013. The relevant sector is specified, and an “x” in the final column indicates companies for which it has been possible to acquire the relevant data for comparison. Name Sector Data acquired A2A Energy x Ansaldo STS Holding x Atlantia Transport x Autogrill Food x Azimut Financial services Banco Popolare società cooperativa Banking x Banca Monte dei Paschi di Siena Banking x Banca Popolare dell'Emilia Romagna Banking Banca Popolare di Milano Banking x Buzzi Unicem Cement x Campari Drinks DiaSorin Diagnostics ENEL Energy x Enel Green Power Energy ENI Oil & Gas x Exor Holding Fiat Vehicles & Publishing x Fiat Industrial Industrial Vehicles x Finmeccanica Aeronautics & Defence x Fondiaria- Sai Insurance Generali assicurazioni Insurance x Gtech Lotteries & Betting x Intesa Sanpaolo Banking x Luxottica Eyewear Mediaset Media & Communications Mediobanca Banking Mediolanum Insurance & Banking x Parmalat Food Industry Pirelli & C. Tyres & Real Estate x Prysmian Cables x Saipem Oil Industry x Salvatore Ferragamo Luxury Goods Snam Natural Gas x STMicroelectronics Electronics x Telecom Italia Telecommunications x Tenaris Iron & Steel x Terna - Rete Elettrica Nazionale Transmission of electrical energy x Tod's Footwear Ubi banca Banking x UniCredit Banking x World Duty Free Travel retail ROBECOSAM Panel – Sustainability Industry Group Leaders The following table sets out the names of the 24 global “Sustainability Industry Group Leaders”, identified by the RobecoSAM sustainability rating agency and presented with the publication of the Dow Jones Sustainability Index in September. The relevant sector is specified, along with the country in which the company carries out its busi- ness, and an “x” in the final column indicates the companies for which it has been possible to acquire the relevant data for comparison. Name Sector Country Data acquired Abbott Laboratories Health Care Equipment & Services United States X Adecco SA Commercial & Professional Services Switzerland X Air France-KLM Transportation France X Akzo Nobel NV Materials Netherlands X Alcatel-Lucent SA Technology Hardware & Equipment France X Allianz SE Insurance Germany X Australia & New Zealand Banking Banks Australia X Group Ltd BG Group PLC Energy United Kingdom X Citigroup Inc Diversified Financials United States X EDP - Energias de Portugal SA Utilities Portugal X Henkel AG & Co KGaA Household & Personal Products Germany X KT Corp Telecommunication Services South Korea X Lotte Shopping Co Ltd Retailing South Korea X Nestlé SA Food, Beverage & Tobacco Switzerland X Panasonic Corp Consumer Durables & Apparel Japan X Roche Holding AG Pharmaceuticals, Biotechnology & Life Switzerland X Sciences SAP AG Software & Services Germany X Siemens AG Capital Goods Germany X Stockland Real Estate Australia X Tabcorp Holdings Ltd Consumer Services Australia X Taiwan Semicon. Manu. Semiconductors & Semiconductor Taiwan X Equipment Telenet Group Holding NV Media Belgium X Volkswagen AG Automobiles & Components Germany X Woolworths Ltd Food & Staples Retailing Australia X.
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