Pirelli recognized for strategy vs. climate change

MILAN, Italy (Nov. 13, 2014) — Pirelli S.p.A. has been recognized as a corporate leader in its actions to thwart climate change.

The company scored 99 out of 100 points on the “Climate Disclosure Leadership Index Italy 2014” (CDLI), an index that evaluates the completeness of a company's strategy against climate change and the transparency of its communication to stakeholders.

The result was announced recently in Milan during the presentation of the CDP Italy 100 Climate Change Report 2014. It was prepared by SDA Bocconi School of Management, which was founded in 1971 as the Business School of Bocconi University, along with the support of the Institute for Medical Quality. The report focused on the ways in which the 100 biggest listed Italian companies face and manage climate change.

Pirelli's commitment to investors and stakeholders in the challenging area of climate change can be seen in its integration of environmental sustainability targets — both for products and processes — into the Pirelli Group's Industrial Plan, according to the report. It said Pirelli “has set itself the goal of reducing rolling resistance by 40 percent for its car tires, by 20 percent in the truck segment and by 10 percent in motorcycles by 2020 compared with 2007.

“By the same deadline, 2020, Pirelli plans to reduce specific CO2 emissions by 15 percent and the specific consumption of energy in its factories by 18 percent compared with 2009.”

Pirelli said its main global commitments in the area of climate change includes CDP Supply Chain, a program which in 2014 involved more than 120 strategic suppliers “in the quantification of benefits in financial, reputational and risk management terms stemming from the correct management of its CO2 emissions.”

The company noted that it has further underwritten, in the context of the Prince of Wales's Corporate Leaders Group, the “Trillion Ton Communiqué” — a program-document for the reduction of global emissions with the aim of keeping the earth's temperature rise within a 2 C limit. Pirelli also said it subscribes to “Road to Paris 2015,” an international initiative that aims to promote the cooperation between the public and private sectors in order to find shared solutions and policies to deal with climate change.

The initiative resulted in Pirelli's signing of the international agreement on climate change (“Paris Declaration”), which will be underwritten during the next worldwide meeting of the United Nations Framework Convention on Climate Change (UNFCCC) that will take place in Paris in 2015.

CDP Italy is an international, not-for-profit organization that claims to provide “the only global system for companies and cities to measure, disclose, manage and share vital environmental information.” The group said it works with market forces, including 767 institutional investors with assets of $92 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them.

More information about CDP is on its website.