The Italian Sea Group achieves an A ESG rating
The Italian Sea Group achieves an A ESG rating
The Italian Sea Group S.p.A. (“TISG” or the “Company”), global player in luxury yachting with brands Picchiotti, Admiral, Perini Navi, Tecnomar, NCA Refit, and Celi 1920, has achieved an ESG rating equal to A, issued by Cerved Rating Agency (“Cerved”), an improvement compared to the previous BBB evaluation, positioning the Company above the median of the reference sector.
The analysis carried out by Cerved Rating Agency – independent rating agency specialised in the assessment of creditworthiness of non financial enterprises and in the evaluation of the sustainability level of economic operators – has highlighted a strong capability in managing ESG risk factors and opportunities, a high degree of awareness of ESG topics and a high level of organisation and planning of objectives as well as integration of ESG topics in corporate governance.
“We are extremely proud of having achieved such an important objective, confirming our strict approach to sustainability and the commitment to constant improvement – commented Giovanni Costantino, Founder & CEO of The Italian Sea Group. “The attention to sustainable development has always been in our company’s DNA and reflects the effort and dedication we put in every activity. We are aware that the achievement of corporate goals is strictly linked to the creation and maintenance of a system which prioritises the wellbeing of our employees and the soundness of our supply chain, benefitting the environment and the entire community.”
The achievement of the objectives of the Company’s three-year ESG Plan, formalised in 2022 with the publication of the first Non-Financial Statement (“NFS”) in compliance with GRI (Global Reporting Initiative) Standards, has contributed to the upgrade of the rating. From an environmental standpoint, the Company is positioned on a higher performance range versus the sector median, due to the efficient containment of direct environmental impacts, the increase in use of renewable energy, and the compensation of GHG Scope 1 and 2 emissions through the cancellation of carbon credits.
In 2023, earlier than the deadline declared in the ESG Plan, TISG has obtained the ISO 14001 certification for Environmental Management Systems. Regarding social impact, the Company’s main strengths are the high inclusion of workers under 30, the attention to employee wellbeing as well as measures regarding health and safety in the workplace in accordance with ISO 45001. In 2023, in line with its objectives, the Company has also significantly increased training hours for employees and started the mapping of the supply chain on the basis of sustainability criteria.
Finally, the analysis found that TISG’s corporate governance model is positioned among the top performers within the reference sector, favouring a high level of awareness and integration of ESG topics both in terms of strategic planning and in operational control on business activities.
