In the Non-Financial Statement the positive impact of good economic results
Sella presents the 2020 Non-Financial Statement: 85% of the economic value generated has been distributed to stakeholders. The Sustainability Project strengthens.
During 2020, the spread of the pandemic has accelerated many transformations and has consolidated the awareness that the economy and society can only develop in compliance with ESG factors (Environmental, Social and Governance). For this reason, it is now a shared opinion that the financial results can not be considered aside from the positive impact on the environment and the community. Our Non-Financial Statement of the year 2020, presented to the Shareholders' Meeting, acknowledges this (read the full document here).
In this regard, one of the main results emerging from the Document concerns the economic value, also called added value, generated by the Group activities, which amounted to 713.6 million euros, up by 13 million in 2019, and that was 85% distributed to stakeholders.
Part of the economic value generated went to employees and associates as salaries, variable remuneration and social security contributions (55.4%, approximately ¿ 337.1 million). 28% went to remunerate and support the business system of the supply chains (overall, the Group made purchases for over 170 million euros).
The economic impacts of the Group are also visible as support to public expenditure through tax revenues (14.3%) and remuneration of shareholders' capital (2.2%).
As for the share distributed to the community, in 2020, the Group disbursed over 1 million euros for the Coronavirus emergency (read the article) and as contributions to bodies and associations (Fondazione Sella, Fondazione Umberto Veronesi), universities, non-profit organizations and the Italian Red Cross.
To further strengthen the focus on these issues, the «Sustainability Project» was launched in 2020, with a dual objective: constantly improving its social and environmental performance, with a regenerative perspective for the community and having an increasingly positive and beneficial impact on all stakeholders. Being a promoter of a sustainable economy also through financial intermediation activities, supporting its customers in the transition to a positive ESG impact economy.
To handle the effects of the pandemic, various interventions in favour of the community, customers and employees, strengthened the path of growing commitment that the Group is challenging towards sustainability, in a broad sense, and the various stakeholders. A common and distinctive factor is the sharp focus on innovation in addressing all the activities carried out. It has always been a characteristic of the Group, and it translates into greater accessibility for families and businesses to technology, to digital and the opportunities they allow. In this context, there are also many training and information initiatives created to allow ever-wider sections of the population to access these issues, stimulating entrepreneurship and the drive towards sustainable innovation.
The Group aims, therefore, at becoming a point of reference on the topic of sustainability for those willing to make a positive impact on the environment and communities. This goal is achieved by standing out for its commercial offer and the quality of relationships and consultancy it offers.