2020 Integrated Report: a new way of telling our story
Our first Integrated Report, providing all stakeholders with a unified view of the different sides of the company, has been published.
2020 was a year of great transformation for INWIT. On 31 March 2020, we concluded our integration with Vodafone Towers, becoming the largest operator of wireless infrastructure in Italy. At the same time, the difficult circumstances caused by the global pandemic highlighted the strategic importance of going digital and emphasized our important role in the development of infrastructure to speed up the country’s digitalization supporting operators.
That’s why, last year, we chose to press forward on the path of innovation, launching into a process to become a more modern and sustainable business. This effort led us to invest in activities and projects aimed at integrating sustainability and offering a real contribution to the digital transformation of the country’s economic and social activities.
Three years ago, INWIT voluntarily decided to produce a Non-Financial Declaration compliant with d.lgs. 254/2016 and, starting this year, has chosen to do it with this new Integrated Report format.
The document was drawn up based on “IR” Framework criteria, which require an organization to illustrate the process it uses to create value over time, using a structure that breaks it down by capital, defined as variables that lead to the creation of value, specifically:
- Financial Capital: all economic resources used in business processes;
- Manufactured Capital: INWIT services and all infrastructural assets, such as transmission towers and technological networks;
- Intellectual Capital: intangible resources represented by organizational know how;
- Social and Relationship Capital: the ability to create relationships with external stakeholders and share values in order to increase individual and collective well-being;
- Human Capital: the overall skills, abilities and experience of people working for the company;
- Natural Capital: all the environmental processes and resources that contribute to producing the services the company offers.
The Integrated Report structure aims to provide a complete overview of strategy, operational model and governance by combining financial and non-financial information.
Preparing this Report involved us updating our materiality matrix, the result of a new approach to stakeholder engagement that allowed us to identify new material issues for INWIT. We approved the new Sustainability Plan 2021-2023 and, after completing a gap analysis, we identified indicators to monitor and report, adopting those provided for in the GRI Standards of the Global Reporting Initiative.
In the coming years, the Integrated Report will also transparently document our progress toward creating a sustainable business model by achieving sustainability goals, set in line with the targets of the UN’s 2030 Agenda and its Sustainable Development Goals, ensuring a constant and open dialogue with all our stakeholders.