« This report offers a comprehensive description of our identity and the aspirations we harbor for the
future. It also presents a renewed opportunity to put ourselves in listening; therefore we invite you to
sincerely solicit your participation in this journey toward sustainable growth.
It is a journey that we at Fater consider relevant and so we hope it will involve people we come into
contact within our everyday work. »
Antonio Fazzari
General Manager, Chief Operating Officer
STAKEHOLDER' VOICE
Esteemed Stakeholders,
we are delighted to extend to you an invitation to peruse the pages of our newly published Sustainability Report for the fiscal year 2022/23. In with the “with reference to GRI standard” scheme, this document delineates our ongoing efforts to forge a sustainable corporate model and our earnest aspiration listening to consumers, customers, employees, shareholders and also paying attention to all the stakeholders.
Annually, the Sustainability Report provides a moment to reflect upon the advancements toward our Environmental, Social, and Governance (ESG) goals. It also serves to strengthen us with renewed vigor to face the challenges yet to be surmounted. We need it, the path is long and we know there is still a lot of work to be done.
In the preceding year, we adopted the guiding principle “Every Day Matters,” as a constant reminder that our commitment
is for the long haul, yet it is actualized daily with relentless determination. As has been demonstrated in the past year.
Enclosed is a synopsis of significant developments in the year 2022/23 that you will discover:
- Environment: our endeavors are manifesting in discernible signals of carbon footprint reduction. This has been made
possible through the implementation of novel processes, the selection of raw materials with greater mindfulness, and
enhancements in our formulations. - Social: we have advanced on our path toward the social objectives of our brands, to give our contribution on important
themes to consumers of our products. We undertake this journey in concert with Associations and the multitude of
Partners to whom we owe gratitude for their daily exemplary efforts. Guided by the People First strategy, we remain
steadfast in our dedication to placing Fater’s individuals at the inception of our endeavors and their daily work helps outline
our corporate responsibility to consumers, customers and suppliers. - Governance: we have dedicated effort to establishing clear internal operational procedures, aspiring to render our trajectory ever more transparent. But exemplary governance is inherently appraised by our day-to-day actions and in this trace, we have instituted a sensitization initiative amongst our staff, which we have aptly titled “Do the Right Thing”.
This report offers a comprehensive description of our identity and the aspirations we harbor for the future.
It also presents a renewed opportunity to put ourselves in listening; therefore we invite you to sincerely solicit your participation in this journey toward sustainable growth. It is a journey that we at Fater consider relevant and so we hope it will involve people we come into contact within our everyday work.
Happy reading!
Antonio Fazzari
General Manager
and Chief Operating Officer Fater S.p.A.
EVERY DAY SUSTAINABILITY
HIGHLIGHTS 2022/2023
FATER SUSTAINABILITY
We support the growth of people within the company, we care about the communities in which we operate, ensure the transparency of our operations, aiming for sustainable growth of Fater and our brands.
Sustainability at Fater is a core element which defines our business strategy. The aim is to grow the present and future value of the company and its brands using a multi-stakeholder approach.
Fater's attention to sustainability issues dates back to the 2000s, with the first environmental sustainability projects and welfare projects developed independently by the different functions. In 2020, Fater gained a comprehensive vision of sustainability and took an organic approach to Corporate Sustainability, adopting an organizational structure and decision-making, planning, and monitoring processes based on the given goals.
An approach was made clear in our sustainability ambition: "We work for a better tomorrow by protecting what matters, every day".
THERE ARE 3 AREAS FATER INTENDS TO FOCUS ON
“For You”
the people at the center, as the driver for all ESG actions.
FATER STAKEHOLDER
Fater has a distinctive feature, which is open dialog with stakeholders and, more generally, with the world outside, to be inspired and channel its action in the right way. This approach is based on actively listening to people – first and foremost consumers – which applies to all stages, from design of ideas to post-sale through consumer service. Fater also promotes listening and discussion with other categories of external stakeholders through the External Relations function.
This second edition of the Sustainability Report comes with big news: Fater has decided to give voice to its stakeholders by involving them in the sustainability reporting process.
FATER’S CONTRIBUTION TO SUSTAINABLE DEVELOPMENT
The 2030 Agenda for Sustainable Development is a plan of action for people, planet and prosperity signed on September 25, 2015 by the governments of the 193 United Nations member states and approved by the UN General Assembly.
The sustainable development goals set have a global scope, affect and involve all the countries and members of society, from private companies to governments, civil society to information and culture players.
The 17 Goals cover a set of important development issues that consider the three dimensions of sustainable development – economic, social and environmental – in a balanced way, aiming to end poverty, fight inequality, tackle climate change, build peaceful societies that respect human rights.
169 targets to be achieved by 2030
Based on those 17 goals, Fater has identified the most appropriate SDGs.
EVERY DAY CLIMATE PROTECTION
HIGHLIGHTS 2022/2023
OUR COMMITMENT FOR ENVIRONMENTAL PROTECTION
Fater considers respect for the environment as an important factor in making decisions, planning and in business processes and is committed to monitoring and reducing the environmental impacts resulting from its operations, combining care for the environment with innovative and safe products developed to respond to new market needs.
In March 2022 Fater Group joined the Science Based Targets Initiative (SBTi) aiming to set scientifically calculated decarbonization targets in line with the Paris Agreement's decisions and fight climate change and the resulting rise in the Earth's temperature. Targets were validated by SBTi in fiscal year 2022/2023, which proves these are consistent with the efforts deemed necessary to keep global temperature rise below 1.5°.
EVERY DAY A BETTER SOCIETY
HIGHLIGHTS 2022/2023
"People First" is Fater's main strategy aiming to Fater's people happiness. Happiness means being able to have the best possible work experience in an inclusive work environment that is based on trust and capable of unleashing and enhancing everyone's talents.
LISTEN
It is the starting point for People First. Active listening helps you map the effectiveness of the actions already taken and drive those for the future.
INSPIRE
To inspire people with success stories told by testimonials from outside the company and to transfer their experiences and knowledge into the company.
GROWTH & IMPACT
To enhance the strengths of Fater people by letting them express their own talent.
INCLUDE
To be a place where everybody feels free to express their identity and true self, and value the unique that lies in all of us.
WELLBEING
To take care of the well-being of Fater's people, their families and communities, starting with those where the Group operates.
DO THE RIGHT THING
To educate and train all employees on all issues that ensure the fairness and transparency of personal and corporate behavior, such as Legal issues, Privacy, Code of Ethics, Organization, Management and Control Model.
EVERY DAY RESPONSIBILITY
HIGHLIGHTS 2022/2023
Fater has a Governance Team led by the CFO (Chief Financial Officer) and consisting of representatives from all business functions, which analyzes the compliance with laws and regulations and suggests any necessary interventions to the Leadership Team.
The Governance Board – a select committee consisting of the CFO, Legal and HR (Human Resources) – analyzes potential risks and implements the strategies set up to mitigate them, involving the departments concerned. In fiscal year 2022/2023 we established a specific compliance plan aimed at reinforcing all business areas on compliance based on five pillars:
