Due to its international presence, the Group interacts with stakeholders from different continents and cultures, each with different needs, aspirations, obligations and regulatory systems.
The sustainability policy of the Carraro Group is based on compliance with regulations in every context in which it operates, and aims to reconcile local cultures and requirements with the philosophy of responsibility that the Group has set itself, as summarised in the Carraro Values.
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The regulations in the different countries, in particular as regards environmental protection and health and safety in the workplace, are continually evolving, and increasingly stringent and complex rules are being defined to regulate safety conditions, the reduction of emissions, waste treatment and water consumption. Consequently, Carraro has implemented a management system which aims to ensure constant alignment with regulatory developments and thus reduce the risks of negative impacts on the Group's business activities and financial position.
The aim of the Carraro Group is not only to guarantee compliance with the regulatory requirements in force for all of its operative sites but also to implement a set of uniform standards to regulate the actions and conduct of its employees when researching and developing optimum solutions, in line with international best practices. Carraro's commitment to reducing its environmental impact includes taking into consideration all factors which make up the Group's environmental footprint, including the selection and use of natural raw materials and resources and their transformation and regeneration into new components.
As part of its continuous efforts to improve the processes implemented to serve the market, Carraro has always aimed to comply with the requirements provided by the leading standards in the field, both in terms of industrial production and product sales and also as part of a constant drive to minimise the risks to the environment and health and safety in the workplace. This commitment is recognised by the award of the certificate of compliance with the main standards to the Group's largest manufacturing plants in Italy and abroad.
Since 2016, Carraro has implemented a process to define the non-financial aspects of the materiality analysis in relation to the Group and its stakeholders, taking into account different sources (company documents, sector studies, benchmarks in relation to clients, competitors and other leading players) according to the international guidelines of the GRI-G4 reporting standards and subsequently starting from the 2018 report adopting the GRI Standards.
The analysis involved company management, Italian and foreign employees and strategic suppliers within a program of stakeholder engagement initiative aimed at the main groups of interest.
The results, considered together with ones coming from sector benchmarking, have been reflected into the updated Materiality Matrix allowing this way a classification by priority level.
The materiality principle was applied in the analysis of the Group's characteristic activities aiming to identify the factors related to sustainability among those relevant for the achievement of the strategic objectives.
Many of the material aspects of the Carraro Group are aligned with 12 of the 17 Sustainable Development Goals (SDGs) defined in the context of the action programme of the 193 UN member countries.