Governance and Sustainability

The Ascopiave Group adopts a governance model that complies with the principles and recommendations of the Corporate Governance Code.

The Group’s strategy aims to achieve sustainable business success by integrating environmental, social, and economic sustainability aspects, with a focus on stable value creation for shareholders and the development of strong relationships with other key stakeholders. Ascopiave strengthens its sustainability governance through:

Implementation of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS);
Integration of ESG objectives into long-term incentive plans for executive directors and senior management;
Enhancement of the internal control and risk management system through the adoption of the ERM procedure, which also includes ESG risks.

	Code of Ethics and Model 231 Integrity and legality are pillars of Ascopiave’s internal control and risk management system. The Group’s Code of Ethics, an integral part of the 231 Models, defines the company’s values and responsibilities in both internal and external relations. Key initiatives confirming this commitment include: All new hires receive training on the Code of Ethics and Model 231 upon joining the company; In 2024, the update of the 231 Models for all Group companies continued, with a training program for employees scheduled for 2025; A Whistleblowing Procedure that provides greater protection for whistleblowers and helps prevent unlawful conduct.
	Responsible Supply Chain Management Ascopiave applies rigorous governance criteria to its supply chain, ensuring that all suppliers comply with ESG standards. The provisions of Ascopiave’s Code of Ethics also apply to suppliers, who are required to respect principles regarding human rights, the environment, health, and safety, regardless of the adoption of their own code of ethics. The Whistleblowing Procedure is extended to all parties interacting with the Group, including suppliers, to ensure the anonymous reporting of unethical or unlawful behavior. Adoption of the Regulation for contracts for works, supplies, and services below the EU threshold, within the Group’s special sectors.
	Internal Control and Risk Management System Ascopiave has adopted a structured approach to risk management, including ESG risk controls: The Enterprise Risk Management (ERM) procedure, adopted in 2024, also takes ESG risks into account; No cases of corruption have been reported, confirming the effectiveness of internal controls.
	Sustainable Finance ESG-linked loans: Credit lines with interest rates tied to the achievement of specific ESG targets. 2023: Financing with Intesa Sanpaolo S.p.A. for a total amount of €100 million, including an €80 million term loan (5 years) and a €20 million revolving credit facility (3 years), with rates indexed to ESG parameters; 2024: Financing with Crédit Agricole Italia S.p.A. for €30 million (5 years), with rates indexed to ESG parameters; 2024: Financing with UniCredit S.p.A. for €100 million (5 years), with rates indexed to ESG parameters; 2024: Financing with Mediobanca S.p.A. for €50 million (5 years), with rates indexed to ESG parameters.

The Ascopiave Group will continue to strengthen its ESG governance by adopting increasingly transparent policies and advanced control tools.

The company is committed to ensuring the highest integrity in its decision-making processes, with the aim of pursuing sustainable success and creating long-term value for the benefit of its shareholders and other relevant stakeholders.