and materiality assessment T h e el ements and areas th at mak e u p th e S u stainab il ity R ep ort, in ac c ord anc e w ith th e GR I S tand ard s, rel ate to issues that reflect the organisation’s significant economic, environmental and social impact, or that profoundly influence Stakeholder assessments and decisions. The term “impact” refers to the effect a company has on the economy, the environment and/or society, whether positive or negative. For the purpose of identifying relevant issues, the Company, in compliance with the requirements of the Reference Standards, conducted a m aterial ity as s es s m ent. T h ere are tw o m ain s tages in th is p roc es s : A b enc h m ark ing anal y s is c ond u c ted on a sample of 18 companies operating in the production and marketing of marine p rod u c ts, ac c essories and eq u ip ment, and shipyards of international standing, with the aim of identifying the sustainability issues most c ommonl y ad d ressed b y th e mark et. T h e ultimate aim of the activity was to identify a set of ESG issues significant to the context in which O sc u l ati op erates. T h e c omp anies in th e samp l e were examined with reference to the information made publicly available by them, analysing their ac tions, p ol ic ies and p rac tic es in p l ac e w ith respect to the following areas of interest: • G overnanc e; • H um an res ourc es ; • P rod uc ts & I nf ras truc ture; • S up p l y C h ain & C l ients ; • E nvironm ent. An analysis of the non-financial reports of c omp etitors and th eir w eb sites3 revealed the sustainability issues generally associated with Osculati’s reference sector, its products, the geographic areas in which it operates and the specific companies with which the Company has business relations (e.g. customers and suppliers). T h e b enc h mark anal y sis al so inc l u d ed consultation of some of the m ain international ref erenc e f ram ew ork s su c h as S A S B and S & P , in order to integrate the themes that emerged with the additional issues relevant to the industry so as to make the most of the most representative sustainability issues for sectors similar to those in w h ic h O sc u l ati op erates4. This first phase, preparatory to the start of the reporting work, has enabled us to understand Osculati’s positioning with respect to relevant sustainability issues in relation to the specific c ore b u siness. 1 3 Specifically, the s am p l e of c om p etitors analysed revealed that, out of 18, 6 companies have sustainability reporting and 7 have a sustainability sec tion on th eir w eb site. 4 T h e E S G M aterial ity M ap s of S & P G l ob al and th e S us tainab il ity A c c ounting S tand ard B oard ( S A S B ) w ere c onsu l ted as international l y recognised tools to identify potentially material areas and issues by business sector. For affinity to Osculati’s reality, two reference sectors were identified: Industrial machinery and goods and Marine Transportation. 21
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