SUSTAINABILITY REPORT 2024
BILANCIO DI SOSTENBILITÀ 2024 INDEX GENERAL INFORMATION ........................................................................................................................ 4 CRITERIA FOR REPORTING ...................................................................................................................... 4 BP-1 – General criteria for the preparation of sustainability reports. ....................................................................... 4 GOVERNANCE ........................................................................................................................................ 5 GOV-1; GOV-3; GOV 5 – Role of the administrative, management, and supervisory bodies;................................... 5 GOV 2 – Information Provided to the Administrative, Management ........................................................................ 6 GOV-4 – Statement on the Duty of Care.................................................................................................................... 6 STRATEGY .............................................................................................................................................. 8 SBM-1 – Strategy, Business Model, and Value Chain ................................................................................................ 8 SBM-2 – Interests and Opinions of Stakeholders .................................................................................................... 14 SBM-3–Material Impacts, Risks, and Opportunities and Their Interaction with Strategy and the Business Model 16 MANAGEMENT OF IMPACTS, RISKS, AND OPPORTUNITIES .................................................................... 16 IRO-1 – Description of the Process for Identifying and Assessing Material Impacts, Risks, and Opportunities ...... 16 IRO-2 – ESRS disclosure obligations subject to the company’s sustainability statement ........................................ 27 ENVIRONMENTAL INFORMATION ......................................................................................................... 27 ESRS E1 - CLIMATE CHANGE .................................................................................................................. 27 E1-1 – Transition plan for climate change mitigation .............................................................................................. 27 E1-2 – Policies on climate change mitigation and adaptation ................................................................................. 27 E1-3 – Actions and resources related to climate change policies............................................................................ 28 E1-4 – Climate change mitigation and adaptation targets ...................................................................................... 28 E1-5 – Energy consumption and energy mix............................................................................................................ 29 E1-6 – Gross GHG emissions by scope 1, 2, and 3, and total GHG emissions .......................................................... 30
2 ESRS E2 – POLLUTION, ESRS E4 – BIODIVERSITY AND ECOSYSTEMS (QUALITATIVE) ................................. 34 ESRS E5 – RESOURCE USE AND CIRCULAR ECONOMY............................................................................. 34 E5-1 – Policies on Resource Use and Circular Economy .......................................................................................... 34 E5-2 – Actions and Resources Related to Resource Use and Circular Economy...................................................... 35 E5-4 – Incoming Resource Flows.............................................................................................................................. 36 E5-5 – Outgoing Resource Flows.............................................................................................................................. 37 SOCIAL INFORMATION ......................................................................................................................... 38 ESRS S1 - OWN WORKFORCE ................................................................................................................ 38 S1-1 – Policies related to the workforce .................................................................................................................. 38 S1-2 – Processes for workforce engagement and worker representatives regarding impacts ............................... 39 S1-3 – Processes to remedy negative impacts and channels for raising concerns .................................................. 39 S1-4 – Actions on significant impacts, risk management, opportunities, and effectiveness................................... 40 S1-5 – Objectives related to managing relevant impacts, enhancing positive impacts........................................... 44 S1-6 – Employee Characteristics .............................................................................................................................. 44 S1-7 – Characteristics of Non-Employee Workers in the Company's Workforce .................................................... 47 S1-8 – Coverage of collective bargaining and social dialogue ................................................................................. 48 S1-9 – Diversity Metrics ........................................................................................................................................... 48 S1-12 – Protected categories ................................................................................................................................... 50 S1-13 – Training and Skills Development Metrics.................................................................................................... 51 S1-14 – Health and Safety Metrics........................................................................................................................... 53 S1-15 – Work-Life Balance ....................................................................................................................................... 53 S1-16 – Remuneration Metrics ................................................................................................................................ 54 S1-17 – Incidents, Complaints and Severe Human Rights Impacts .......................................................................... 55
3 ESRS S4 - CONSUMERS AND END USERS................................................................................................ 57 S4-1 – Policies related to consumers and end users................................................................................................ 57 S4-2; S4-3; S4-4 – Processes to engage consumers and end users regarding impacts …………………………………………59 S4-5 – Targets related to the management of material negative impacts .............................................................. 60 GOVERNANCE INFORMATION............................................................................................................... 63 ESRS G1 - CORPORATE CONDUCT .......................................................................................................... 63 G1-1 – Policies on Corporate Culture and Business Conduct .................................................................................. 63 G1-3 – Prevention and Detection of Active and Passive Corruption ....................................................................... 66 G1-4 – Cases of Active or Passive Corruption .......................................................................................................... 66 ANNEXES ............................................................................................................................................. 67
BILANCIO DI SOSTENBILITÀ 2024 General Information CRITERIA FOR REPORTING BP-1 – General criteria for the preparation of sustainability reports, BP-2 – Disclosure relating to specific circumstances This document constitutes the Sustainability Report of Osculati S.r.l., prepared in accordance with Legislative Decree No. 125 of 6 September 2024, which transposes into Italian law Directive (EU) 2022/2464 (the so-called Corporate Sustainability Reporting Directive, hereinafter “CSRD”). The document has been prepared with the aim of ensuring the comprehensibility of information related to Osculati’s activities, as well as compliance with the qualitative characteristics of the enterprise as outlined in ESRS 1, Appendix B, of the Commission Delegated Regulation (EU) 2023/2772, implementing the above-mentioned European Directive. This report communicates sustainability-related information exclusively with reference to Osculati S.r.l., even though the Lucca branch has also long been committed to sustainability initiatives. Where possible, a comparison with the 2023 and 2022 financial years is provided. In accordance with the principle of materiality, the information included in this Sustainability Report concerns the most significant aspects of the upstream and downstream value chain; this does not imply the disclosure of information regarding all actors in the value chain (with the exception of Scope 3 emissions, which include specific data related to the value chain). The sustainability reporting does not include information required by other regulations containing obligations to disclose sustainability information, nor by generally accepted sustainability standards. The qualitative and quantitative data collected and reported herein are derived from direct measurements and assessments.
GOVERNANCE GOV-1; GOV-3; GOV 5 – Role of the administrative, management, and supervisory bodies; integration of sustainability performance into incentive systems; risk management and internal controls over sustainability reporting The definition of efficient development strategies has enabled Osculati to achieve steady growth over the past ten years, unaffected even by the global uncertainties that have impacted markets in recent years. The strength of family governance effectively supports the company’s industrial approach, which is focused on creating value in both the short and long term. The Corporate Governance model adopted by Osculati follows the traditional structure, featuring a Board of Directors chaired by Mario Alberto Osculati, founder of the company and currently Head of the Purchasing Department. In addition to the Chairman, the Board of Directors also includes Executive Directors Alberto, Giorgio, and Claudia Osculati. The composition of the Board has remained unchanged from previous years. 2022-2023-2024 GOVERNING BODIES BY GENDER AND AGE GROUP Men Women TOTAL <30 years 30-50 years >50 years TOTAL Board of Directors 3 1 4 0 3 1 4 Percentage 75% 25% 100% 0% 75% 25% 100% Each member holds the legal representation of the Company and possesses executive powers and operational delegations according to their respective areas of expertise. The mandate has no expiration date, and currently there are no independent directors within the Board of Directors. Moreover, no executive committees have been established; all decisions are jointly discussed and shared by the Governing Body according to their areas of competence.
6 The Governing Body is responsible for defining, directing, and developing the company’s mission and shared value creation strategy. The Board of Directors of Osculati places increasing importance on Sustainability, both in terms of shared goals and concrete actions aimed at raising Stakeholder awareness and developing a more structured ESG management system. At present, the Company does not have internal control or risk management processes specifically related to sustainability reporting. However, the development and implementation of such processes are planned for the coming years. In addition, the Company has not yet adopted incentive systems or remuneration policies linked to sustainability matters for members of its administrative, management, and supervisory bodies. GOV 2 – Information Provided to the Administrative, Management, and Supervisory Bodies and Sustainability Issues Addressed The effective management and careful oversight of sustainability matters are key priorities for Osculati. For this reason, an ESG function was established in 2020, under the supervision of the Board of Directors, in order to implement a solid sustainability governance framework that reflects the policies adopted. The Board of Directors is responsible for approving the corporate sustainability plan’s policies, strategies, and objectives, as proposed by the ESG function. The Board also delegates the implementation of ESG actions to the relevant business functions. Furthermore, the current Governing Body is actively engaged in coordinating and supervising the company’s day-to-day operations, guiding decisions that have both direct and indirect impacts on society, the environment, and the economy. GOV-4 – Statement on the Duty of Care At present, Osculati does not yet have a fully formalized and structured ESG due diligence process. However, the company has already implemented several tools and practices inspired by the key principles underlying such a process. The actions undertaken to ensure the responsible management of environmental impacts, the attention to human resources, and the adoption of transparent governance practices—such as the Code of Ethics—provide a solid foundation upon which to build a comprehensive due diligence system, capable of effectively integrating ESG topics throughout the value chain.
7 The following table presents a mapping of the main elements and stages of the due diligence process, highlighting where and how these aspects are reflected within this Sustainability Report. This approach ensures a clear and transparent overview of the company’s documentation, illustrating Osculati’s commitment to the progressive implementation of the duty of care. KEY ELEMENTS OF THE DUE DILIGENCE PROCESS SECTIONS OF THE SUSTAINABILITY REPORT Integrating the duty of care into governance, strategy, and the business model Reference to: Role of the administrative, management, and supervisory bodies (GOV-1) Information provided to the administrative, management, and supervisory bodies and sustainability issues addressed (GOV-2) Material impacts, risks, and opportunities and their interaction with the strategy and business model (SBM-3) Description of processes to identify and assess material impacts, risks, and opportunities (IRO-1) Engaging stakeholders throughout all key stages of the duty of care process Reference to: Interests and opinions of stakeholders (SBM-2) Description of processes to identify and assess material impacts, risks, and opportunities (IRO-1) Identifying and assessing negative impacts Reference to: Description of processes to identify and assess material impacts, risks, and opportunities (IRO-1) Taking action to address negative impacts ESRS 2 MDR-A - Sections relating to remediation actions and action plans defined for each topic (E1, S1, S4, G1 and Entity-specific) Monitoring the effectiveness of actions and communicating ESRS 2 MDR-T - Sections relating to targets for each topic (E1, S1, S4, G1 and Entityspecific)
8 STRATEGY SBM-1 – Strategy, Business Model, and Value Chain Founded in 1958 as the first nautical accessories store in Milan, Osculati S.r.l. is today the leading company in Italy and one of the top players in Europe in the nautical accessories sector1. With over 22,000 product references and an item availability rate exceeding 96%, Osculati operates the largest nautical equipment warehouse in Europe—and one of the most comprehensive worldwide. Today, Osculati’s products are distributed in over 6,000 stores and shipyards across 100 countries, supported by a sales network of 26 agents. The company has two main offices—in Milan and Lucca—employs 166 staff members and 55 logistics operators, and manages a total area of 21,000 m². As a distributor of leading international brands, Osculati also manufactures over 7,000 proprietary products, thanks to its in-house Design & Engineering Department. The company has always been a trusted partner for both professionals and boating enthusiasts: 70% of orders from within the European Union are shipped the day after receipt, while the remaining 30% are dispatched on the same day. A constant focus on innovation and quality, together with continuous investment in tools for intensive raw material testing (such as the salt spray chamber), has long defined Osculati’s identity and earned the trust of major shipyards worldwide. The company has also been chosen as an official partner by some of the most prestigious brands in the industry, including Lewmar, Whale, Dometic, Polyform, and Marlow. 1 It should be noted that Osculati’s core activities are not connected to the sectors included in ESRS 2, SBM-1, paragraph 40d.
9 Osculati sales network With over 6,000 dealers worldwide and a network of 26 regional sales managers, Osculati has a presence on all five continents. In addition, around 50 Osculati Corners located throughout Italy contribute to making the company a key point of reference for both professional clients and end consumers.
10 Osculati’s main customer base includes a wide range of categories, such as boat and RIB manufacturers, maintenance and storage shipyards, importers, distributors, and retailers of nautical accessories, as well as professional installers and service technicians in the marine sector. The company’s sales network is well developed, with 15 sales representatives operating in Italy and 11 abroad. In addition, Osculati holds exclusive distribution agreements in certain geographic areas—such as the Balkans and Turkey—and collaborates with dozens of longterm partners worldwide. This extensive and well-structured network enables Osculati to maintain a strong global presence and effectively meet customer needs on an international scale.
11 In 2024, Osculati’s sales were distributed across different geographic regions as follows: 42% in Italy, 45% in Europe, and 12% in nonEuropean markets. In the domestic and European markets, the company’s customer base is broader and more diversified, whereas in non-European territories, Osculati primarily works with manufacturers and importer/distributor partners, focusing on a smaller number of clients but maintaining more strategic and long-term relationships. The History of Osculati 1958 Emilio Osculati, with the help of his son Mario, founds the first nautical accessories store in Milan: Osculati Forniture Nautiche. 1963 The first product designed and manufactured by Osculati is launched. 1975 With the opening of Osculati & C. in Versilia (Tuscany), the Osculati Group is established. 1980 First sales outside Europe. 1995 The commercial value of goods in stock exceeds €1 million for the first time. 2008 500 daily shipments are sent worldwide. 2016 Opening of a new warehouse and doubling of the order preparation area. 2020 Opening of a new production warehouse. 2021 Turnover exceeds €100 million for the first time. OGGI Osculati products are regularly shipped to over 100 countries worldwide.
12 Mission and Ethical Principles The mission of Osculati is to provide its customers with everything they need to build or maintain their boats, within the desired timeframe and with the best possible quality-to-price ratio. In a single phrase: to make designing, building, and maintaining a boat simple. The business model is built on a set of core values that guide the company in ensuring a customer experience that meets every need. The management team is constantly engaged in research and development, seeking new solutions and diversifying the range of products and services. This culture of innovation has enabled Osculati to achieve excellent results and demonstrate strong resilience, consistently adapting to market changes. At the same time, Osculati is committed to offering competitive prices without ever compromising on product quality or reliability. Another key strength lies in the selection of strategic partners, with whom Osculati has collaborated for many years to ensure faster and better service for customers worldwide. All Osculati’s activities are conducted in accordance with the principles of integrity and transparency, and are guided by honesty, fairness, and responsibility. Osculati has adopted the values outlined in the “Charter of Business Values2”, committing to recognize and uphold its principles in relation to all stakeholders. In particular, the company believes in and is inspired daily by the following values: • Ethics in interpersonal behavior: toward employees, suppliers, customers, and all stakeholders. • Cooperation and teamwork: no matter how capable and determined each person is, more can be achieved by working together. • Safety: a top priority in all its forms — workplace safety for employees and collaborators, and product safety for end users. • Sustainable success: the company aims to generate balanced economic growth and long-term development, valuing human resources and respecting the environment through the responsible use of resources. 2 The Charter of Business Values was proposed by the European Institute for Social Auditing and is derived from the Charter of Human Values of the Nova Spes Foundation, which was adopted by the United Nations in 1989. Its purpose is to provide businesses with a clear and socially consistent framework to guide their strategic and operational decisions.
13 The Osculati Brand Today, the Osculati brand comprises two companies: • Osculati S.r.l., headquartered in Segrate (Milan), Via Pacinotti 12, represents the core of the brand, holding a strategic leadership role and setting company guidelines. Its operations cover both national and international markets, managing relationships with major shipyards and retailers worldwide. The parent company is also responsible for the selection, design, and development of new products and includes a production area where part of the in-house designed items are manufactured. • Osculati & C. S.p.A., based in Lucca, Via Sottopoggio snc, was founded in 1975 with the opening of the Versilia branch and is currently led by Alessandro Gambogi. The company focuses on the distribution of Osculati catalogue products within the regional market. As previously noted, the reporting scope of this Sustainability Report refers exclusively to Osculati S.r.l., although the Lucca site has also long embarked on its own path toward sustainability.
14 Associations - Confindustria Nautica: an association representing the recreational boating industry and related businesses, working to promote the development of the nautical sector, the culture of the sea, and the growth of nautical tourism in Italy. - IBC – Association of Consumer Goods Industries: an organization that aims to promote the efficiency and effectiveness of consumer goods industries in their relationship with the market. - UNI – Italian National Standardization Body: a private, non-profit association recognized by both the Italian State and the European Union, which for nearly a century has been developing and publishing voluntary technical standards—the UNI standards—across all industrial, commercial, and service sectors. SBM-2 – Interests and Opinions of Stakeholders Osculati recognizes the central role of its stakeholders in ensuring the responsible and sustainable development of its business and assumes full accountability toward them. Maintaining solid, transparent, and long-term relationships with all stakeholders is considered a fundamental requirement for corporate growth and a clear indicator of the organization’s commitment to the economic and social context in which it operates. For this reason, the company promotes a structured and effective dialogue with its stakeholders, with the aim of understanding their needs, expectations, and feedback, while also gathering insights that foster innovation and the continuous improvement of products and services. The approach adopted is tailored to each stakeholder category, using specific strategies and tools—such as training initiatives and communication activities—designed to inform, engage, and enhance relationships with different groups. The stakeholder engagement process is dynamic and continuously evolving, with interaction channels and methods calibrated according to each category’s level of influence and dependence. This ensures a constructive exchange and helps align the company’s strategies, objectives, and actions with stakeholder expectations.
15 STAKEHOLDER CATEGORY MAIN ENGAGEMENT ACTIVITIES ENGAGEMENT FREQUENCY OBJECTIVES AND KEY TOPICS ADDRESSED Governing Bodies Regular meetings Ongoing Monitor and discuss the Company’s performance, ensure compliance with regulations and ethical standards, and define long-term business strategies Management and Key Sustainability Staff Dedicated meetings on sustainability topics, data collection for the Sustainability Report, coordination of activities and strategy Periodic Define and implement sustainability strategies, monitor progress and achievement of goals set within the sustainability plan, and coordinate data collection for reporting Osculati Employees Internal communication initiatives on sustainability, dedicated events, feedback and listening channels, ongoing dialogue with the HR Department, training sessions, corporate welfare initiatives, company intranet, internal newsletter, performance management Continuous Inform about the Company’s performance, foster engagement and proactivity in company life, promote personal and professional growth, and support employee well-being Marine Industry Professionals and End Users Customer service, social media channels, sales network as a listening and communication channel Continuous Gather feedback on Osculati’s products and services, enhance quality and promote innovation, strengthen customer satisfaction and loyalty Suppliers and Distributed Brands Regular meetings and on-site visits, sharing of Sustainability Report contents, project partnerships Continuous Share information on company performance, define supply agreements, exchange best practices, and collaborate on joint projects Community, Local Area, and Public Institutions Partnerships with governmental and nongovernmental organizations, support to local associations and events, collaborations with universities and schools Occasional Maintain transparent and collaborative relationships, support local development, and strengthen Osculati’s integration into the surrounding community Future Generations Collaborations with schools, universities, and educational programs Continuous Raise awareness about sustainability and company activities, and promote innovation and social responsibility
16 SBM-3–Material Impacts, Risks, and Opportunities and Their Interaction with Strategy and the Business Model In 2024, Osculati updated and expanded its materiality analysis, making it more structured and comprehensive than the one conducted in 2023. While in 2023 the Company focused primarily on identifying significant impacts from an impact materiality perspective, this year the analysis was extended to include the assessment of relevant risks and opportunities in terms of financial materiality. The results largely confirm the findings from the previous year. The double materiality assessment was carried out by also considering subtopics and sub-sub-topics, in accordance with the requirements of the CSRD. All identified IROs (Impacts, Risks, and Opportunities) are covered by ESRS disclosure requirements, with the exception of one material topic: Research, Product Development, and Innovation, which is addressed in a dedicated section as an entity-specific disclosure. MANAGEMENT OF IMPACTS, RISKS, AND OPPORTUNITIES IRO-1 – Description of the Process for Identifying and Assessing Material Impacts, Risks, and Opportunities Osculati identified the sustainability topics to be included in the reporting process based on the principle of double materiality, assessing both: • The impacts that the Company’s activities may generate on the environment and people (impact materiality), and • The implications that the management of ESG factors may have on the Company’s financial performance, resilience, and business continuity (financial materiality). A sustainability topic is considered material if it is deemed significant from the perspective of impact materiality, financial materiality, or both.
17 The Process The materiality assessment was conducted in compliance with the requirements of the European Sustainability Reporting Standards (ESRS) issued by the European Financial Reporting Advisory Group (EFRAG). The methodological approach adopted to meet these requirements followed four main phases (as shown in the figure below) and is aligned with the principles outlined in the EFRAG Implementation Guidance3: Phase 1: Understanding the Context Osculati carried out an in-depth analysis of the context in which it operates, supported by a benchmark study, with the aim of identifying the sustainability topics most relevant to its sector and business model. This initial step allowed the Company to build a solid understanding of its reference landscape and to gather key elements for developing an informed and targeted approach. Based on this work—conducted with reference to topics, sub-topics, and sub-sub-topics as outlined by the applicable standards—the sustainability matters to be further analysed were identified according to their potential relevance to Osculati. In addition to the topics proposed by the standards, the Company identified one entity-specific topic, considered particularly significant for its operational context. 3 «EFRAG IG 1 – Materiality Assessment» published by EFRAG in May 2024. Phase 1 Understanding the Context •Analysis of the Organization’s activities, business model, business relationships, and value chain •Definition of the stakeholder engagement strategy Phase 2 Identification of IROs •Identification of potentially material ESRS topics based on the list of aspects included in Appendix A of ESRS 1 •Detailed mapping of impacts, risks, and opportunities (IROs) associated with the potentially material ESG topics Phase 3 Evaluation of IROs •Assessment of impact materiality Assessment of financial materiality Processing of results and identification of material ESG topics for FY 2024 Phase 4 Reporting •Description of the methodological approach adopted for conducting the DMA •Identification of the information to be disclosed
18 Phase 2: Identification of IROs In mapping its Impacts, Risks, and Opportunities (IROs), Osculati adopted a structured and methodical approach to ensure a rigorous and consistent analysis. The assessment considered key factors such as regulatory developments, industry trends, and market evolution, which were integrated with the analysis of internal strategic documentation. This provided a comprehensive and multifaceted view of the ESG variables most relevant to the Company. The analysis made it possible to identify both direct impacts—linked to Osculati’s core activities—and indirect impacts along the main stages of its value chain, in accordance with the principle of materiality. Each impact was classified based on its nature (positive/negative) and status (actual/potential), while also defining its scope, i.e. the stakeholder groups affected. The same approach was applied to identify risks and opportunities relevant to the Company, considering their relationship with previously identified impacts and dependencies. Risks were further qualified by their nature (direct/indirect) and type (operational, reputational, compliance-related, etc.), linking them to potential financial effects on the Company and distinguishing their time horizon (short, medium, long term). Phase 3: Evaluation of IROs Impact Materiality To assess the identified impacts, Osculati carried out an in-depth analysis, first involving the Company’s senior management, able to provide an informed and comprehensive judgment. They were asked to evaluate the materiality of each impact as a combination of its magnitude, scale, nature, and likelihood of occurrence, considering both negative and positive, actual and potential impacts. Subsequently, the Company submitted the impacts—building on the work from the previous year—to an external validation involving key stakeholders such as employees, suppliers, financial institutions, and representatives from institutional and academic sectors. Engagement took place through an online questionnaire using a rating scale consistent with the internal one, resulting in a total of 75 responses. The numerical processing of responses enabled Osculati to validate internal outcomes and gain a more comprehensive understanding of impact relevance. The data collected were then aggregated and analysed to define the final list of material impacts, based on specific thresholds determined according to the nature of each impact.
19 Financial Materiality The assessment of risks and opportunities was conducted with the support of senior management through a dedicated evaluation tool, designed to combine the potential financial effects with their probability of occurrence. Materiality was expressed through a 1-to-4 scoring system, taking into account potential impacts on the organization’s development, economic and financial results, cash flows, and access to capital. For risks, both inherent (assessed without considering existing mitigation measures) and residual risks were evaluated, in line with ESRS requirements. This approach also provides Osculati with an operational tool to map and monitor ESG risk management over time. The results were then processed numerically to determine the risks and opportunities considered material, based on predefined materiality thresholds. Results As described, the identification of material IROs was based on assigning a specific threshold to each category. Any IRO whose aggregate score met or exceeded the defined threshold was considered material. Consequently, any topic with at least one material IRO was classified as material for reporting purposes. The overall assessment identified 17 material topics for Osculati. For each of these, the Company provides disclosures aligned with the applicable thematic ESRS requirements. Finally, the results of the double materiality assessment were shared with the internal Working Group. The entire process will be updated annually to ensure alignment with the evolving regulatory and operational context. The level of review may vary depending on business circumstances and market dynamics. The following table presents, for each material topic, the related impacts (positive and negative, actual and potential), risks, and opportunities that exceeded the defined materiality threshold and therefore determined its classification as material.
20 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES Climate Change Climate change mitigation Increase in greenhouse gas emissions and air pollution caused by the use of inefficient vehicles or their incorrect use. P Negative impacts on society due to insufficient/inadequate monitoring of environmental regulations, which may negatively affect operations, imposing additional costs for product and technology compliance or fines. Severe physical events (floods and droughts) could cause damage to infrastructure, interruptions in value chains, market expectation changes, leading to increased risk, volatility, and losses in asset values in certain markets. Energy Contribution to reducing environmental impact through energy efficiency initiatives, such as using renewable energy for office lighting, optimizing logistics, and transitioning to automated energy management technologies. P Financial risk due to increased energy costs without a transition to renewable sources (e.g., choosing green suppliers, purchasing guarantees of origin, fleet replacement), resulting in higher operating costs and compromised business continuity. Participation in an energy community to optimize energy use, reduce costs, and contribute to environmental sustainability through strategic partnerships, resulting in financial benefits such as energy savings, cost reduction, increased visibility, and reputational gains. Increased share of purchased and selfproduced renewable energy reduces bills, enables access to incentives, increases energy independence (positively impacting business continuity), and enhances operational asset value.
21 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES Pollution and Biodiversity Water pollution / Direct impact factors on biodiversity loss Contribution of Osculati to the dispersion of microplastics or pollutants into the marine environment through its products, if not properly managed at end-oflife or during use. P Strengthening of the brand identity as a responsible leader in the nautical sector, attracting new sustainability-sensitive target groups, expanding market share, and increasing revenue and reputation. Introduction of eco-friendly and low-impact packaging solutions, such as compostable packaging, recyclable plastics, or materials from sustainable supply chains, to reduce plastic pollution and limit negative impacts on coastal and marine ecosystems. This can reduce waste disposal costs and comply with future packaging and biodiversity regulations. Circular Economy Resource inflows, including resource usage Price fluctuations of products sold by Osculati due to increased supply costs. Optimization of raw materials and natural resources throughout the production and distribution chain through eco-design strategies, waste reduction, and process efficiency (e.g., use of recycled materials, reduced packaging, logistics optimization). These choices can lead to operational cost savings and more responsible practices. Waste Generation of WEEE and hazardous/nonhazardous waste. E Mismanagement of waste (disposal or recycling), with consequent negative
22 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES financial and reputational effects. Own Workforce Safe employment / Adequate wages / Working hours Contribution to greater economic security for employees through stable employment with decent hours, competitive wages, and a peaceful work environment via solid contracts and job creation. E Low attractiveness for external talent or difficult internal retention due to unstable working conditions and lack of benefits and welfare, potentially increasing HR management costs. Employee well-being through secure employment, decent working hours, and adequate wages, leading to higher retention and productivity, revenue stability, and reduced turnover-related expenses. Health and safety Potential reputational and operational damage due to increased work-related stress, burnout, or accidents. Investment in technologies and practices to improve workplace safety, such as modern protective equipment and proactive risk management, reducing accidents and occupational diseases, increasing productivity, reducing absenteeism, and improving the work climate. Absenteeism due to accidents can negatively impact business activities, slow production, and compromise deadlines.
23 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES Work-life balance Without company policies ensuring clear working hours and promoting the right to disconnect, workload may be uneven and boundaries between work and personal life unclear. P Adoption of a company culture that respects personal time and needs, helping prevent burnout and improve employee wellbeing. A work-life balance promotes productivity, motivation, and strengthens the company’s reputation as a responsible employer. Training and skills development Employee potential development through training investments (even non-mandatory), increasing productivity and competitiveness, generating knowledge that can drive innovation. Diversity / Gender equality / Equal pay for equal work Creation of a dynamic, open, safe, and inclusive work environment where diversity (gender, personality, disabilities, sexual orientation, etc.) is protected, respected, and promoted. E Approval of discriminatory and noninclusive behaviors and practices, with reputational damage. Adoption of corporate policies to prevent workplace harassment, with reporting mechanisms.
24 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES Consumers and End Users Privacy Business continuity compromised by inefficient handling of cyberattacks that block critical systems or delay services. Implementation of practices to protect corporate and customer (sensitive) data from cyberattacks, ensuring business continuity, preventing legal costs related to data loss, and strengthening customer trust. Access to products and services / Access to quality information / Responsible business practices Loss of customer trust and satisfaction due to inadequate service or lack of transparency in information provided. P Focus on quality in customer relations and monitoring satisfaction with products. E Ineffective communication strategy leading to reputational damage and long-term customer segment loss. Clear and complete communication of productrelated information to consumers, increasing trust, brand value, and revenue stability. Consumer/enduser safety Compliance with highest product quality and safety standards through rigorous quality controls and safety procedures. P Product safety incidents leading to loss of customer trust and sales reduction. Design of safer products/tools/software, reducing operational risks and associated costs, ensuring business continuity. Corporate Conduct Corporate culture Compliance with applicable laws and regulations (including voluntary) in economic, environmental, and social areas. E Failure to spread an ethical vision per company policies, negatively impacting Improved reputation through governance attentive to sustainability and regulatory proliferation, increasing brand value and business opportunities.
25 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES internal climate and external reputation. Relationships with parties unable to uphold Osculati’s Code of Ethics, causing reputational damage. Active and passive corruption Protection of legality and prevention of illegal behaviors for internal stakeholders in areas such as profit laundering, extortion, anti-competitive practices, and corruption. P Commission of corruption-related or anti-competitive offenses, leading to administrative liability for the company or criminal liability for directors. Supplier relations, including payment practices Attention to sustainability factors in supplier evaluation, selection, and qualification. E Reputational consequences from irresponsible sourcing, potential negative events (human rights or environmental violations). Adoption of a sustainable procurement policy, enhancing reliability and efficiency of suppliers, cost efficiency, and continuity of supply. Vulnerability to supply chain interruptions (geopolitical events,
26 MATERIAL ISSUE RELEVANT NEGATIVE IMPACTS Effective or Potential Impact RELEVANT POSITIVE IMPACTS Effective or Potential Impact RELEVANT RISKS RELEVANT OPPORTUNITIES global health crises, logistics difficulties), increasing costs or reducing availability of components and accessories. Entity Specific Sustainable and responsible innovation Adoption of new innovative technologies providing competitive advantage, increasing sales, revenue, and intangible assets/patents.
IRO-2 – ESRS disclosure obligations subject to the company’s sustainability statement With reference to the list of disclosure obligations that Osculati has fulfilled in the preparation of this Reporting, based on the results of the materiality assessment, please refer to the Index of this document. For reference, please see the Annex to review the EU Datapoint Table, which contains all the information elements derived from other EU legislative acts listed in Appendix B of the ESRS 2 disclosure obligation (“General information”) of the Delegated Regulation (EU) 2023/2772. Environmental Information ESRS E1 - CLIMATE CHANGE E1-1 – Transition plan for climate change mitigation Although the Company has not yet formalized a transition plan, it proceeds with the calculation of its Scope 1, Scope 2, and Scope 3 emissions (currently limited to Category 4), in order to quantify them with a view to reducing emissions both internally and along the value chain. The objective is to achieve net-zero emissions and to build a long-term sustainability path. The emissions reduction strategy, currently under development, will be defined over the coming years, with the commitment to align the sustainability strategy and the business model with the transition to a sustainable economy and the global warming limitation target of 1.5°C, in line with the Paris Agreement, and to achieve climate neutrality by 2050. E1-2 – Policies on climate change mitigation and adaptation For many years, Osculati has based its business development and consolidation on two core principles: full customer satisfaction and the reduction of environmental impacts, both from its own activities and related to product use. Environmental protection, alongside Quality, has always been at the heart of the Company’s Policy. The Company develops increasingly eco-friendly processes and solutions, fully compliant with sector regulations, providing objective evidence of achieved results and pursuing continuous improvement through the adoption of new organizational and technological models.
28 To achieve these objectives, Osculati has implemented an Integrated Quality and Environmental Management System in accordance with UNI EN ISO 9001 and UNI EN ISO 14001 standards. To make its commitments concrete, Osculati invests in continuous training of its personnel, aiming to improve production performance, reduce environmental impacts, and enhance health and safety in the workplace. Simultaneously, the Company focuses on promptly addressing customer requests, ensuring that every product fully meets expected requirements. Moreover, it develops increasingly safe and sustainable formulations, aimed at reducing skin-sensitizing preservatives, eliminating substances harmful to humans and the environment, and using surfactants with lower petroleum derivatives. Finally, the Company commits to disseminating its Quality and Environmental Policy to all personnel working for or in collaboration with the Organization, promoting a shared culture of environmental responsibility and climate change adaptation. E1-3 – Actions and resources related to climate change policies The widespread use of coal, oil, and pet coke in energy production is a major source of CO₂ emissions and thus climate change. With energy demand constantly increasing, the transition from fossil fuels to renewable sources is an unavoidable environmental challenge requiring active commitment from everyone. Osculati has translated these principles into concrete actions through structural and operational choices. The most recent warehouse, designed and commissioned directly by the company in 2015, is among the first in Italy to achieve energy class A: equipped with a photovoltaic system for electricity supply and a geothermal heating system, it represents a model of excellence in the Company's green strategy. Operationally, Osculati exclusively uses electricity from renewable sources. The renewable origin of the energy is verified and certified through Guarantees of Origin (GO) managed by the Italian Energy Services Manager (GSE), in compliance with Directive 2009/28/EC. E1-4 – Climate change mitigation and adaptation targets The Company has not yet defined specific quantitative targets for the identified relevant impacts regarding climate change mitigation and adaptation. However, this matter is an integral part of the 2025-2027 planning document currently under development. In the coming years, Osculati is committed to setting targeted objectives for each relevant issue, ensuring a structured and measurable approach.
29 E1-5 – Energy consumption and energy mix In 2024, Osculati consumed 2,097 MWh of electricity. In the past year, non-fossil energy consumption amounted to 1,505 MWh (+30% compared to the previous year) and includes consumption of natural gas (approximately 80% of total consumption), diesel, and petrol for company vehicles. For electricity, Osculati relies on an external supplier for the purchase of energy fully covered by Guarantees of Origin. Additionally, the Company installed a small photovoltaic system in 2015, whose production is presented below. Below is a breakdown of energy consumption for the last three years: ENERGY CONSUMPTION (in MWh) 2022 2023 2024 STATIONARY COMBUSTION Natural Gas 1.161,06 874,72 1195,38 MOBILE COMBUSTION Diesel 306,64 230,76 167,62 Petrol 286,27 46,39 141,97 Total Fossil Sources 1753,97 1151,87 1504,97 PURCHASED ENERGY CONSUMPTION Electricity purchased from national mix 0 0 0 Electricity purchased with GO 603,12 433,31 592,00 Total Renewable Sources 603,12 433,31 592 Share of Renewable Sources (%) 26% 27% 28% Share of Fossil Sources (%) 74% 73% 72% Total Energy Consumption 2357,09 1585,18 2096,97
30 It should be noted that the increase in petrol consumption is due to the expansion of the company car fleet in favor of hybrid vehicles, and therefore to the gradual replacement of diesel cars. It should also be noted that no biofuels are used in the company’s operations. SELF-PRODUCTION OF ELECTRICITY FROM RENEWABLE SOURCES (in MWh) 2022 2023 2024 Self-produced electricity 0,05 0,05 1,23 In addition, the energy intensity associated with activities in high climate-impact sectors is 0.000023309 MWh/€ (0.023 kWh/€). E1-6 – Gross GHG emissions by scope 1, 2, and 3, and total GHG emissions Scope 1 and Scope 2 Emissions Greenhouse gas emissions related to company activities can be divided into direct emissions (Scope 1) and indirect emissions (Scope 2): • Direct emissions (Scope 1) stem from the direct combustion of fossil fuels purchased for heating, electricity generation, or vehicle refueling. • Indirect emissions (Scope 2) refer to the production of “purchased” electricity consumed by the Company for electrical equipment, air conditioning, and lighting within buildings. Specifically regarding Scope 2 emissions, related to the purchase and consumption of electricity, the calculation was performed using both the location-based and market-based approaches. The locationbased approach relies on the average greenhouse gas emission intensity associated with the electricity grid used, primarily referring to the national average emission factor. In contrast, the market-based approach considers emissions resulting from electricity purchased based on the organization’s specific contractual choices, such as the use of Guarantees of Origin certificates or agreements with renewable energy suppliers.
www.osculati.comRkJQdWJsaXNoZXIy MjM2MTk=