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Methodological note

The Sustainability Report was drafted in accordance with the Reporting Guidelines of the Global Reporting Initiatives, version G3. In order to define the contents of the document, reference has been made to the principles of materiality, stakeholder inclusiveness, sustainability context, and completeness. For the purpose of guaranteeing the quality of the information provided, the principles of balance, comparability, accuracy, timeliness, reliability, and clarity have been followed.

Report content

The 2010 Sustainability Report contains the description of the 2010 Sustainability initiatives and, whenever possible and should it be necessary, the assessment of the performance trends during the 2008-2010 period, to better highlight the trend’s significance through time.
The selection of information and indicators presented within this Sustainability Report has been made by the Sustainability Team, that coordinates the document’s editing, and by the Sustainability Committee, according to stakeholders’ expectation analysis.
Scope of this materiality analysis is to select the information to be entered in the Report, defining the topics deemed most relevant and significant for the Company and for all the stakeholders.
The analysis is based on a cross-functional work, that mainly concerns the Sustainability team (at Corporate and local level) and the Sustainability Committee.
The interest and significance level of the subject matters arise from the context within which Saipem operates and from the expectations that characterise its sector.
The analysis carried out to define the level of significance of the Sustainability topics moves from the Company’s short and long-term strategy and takes into consideration:

  • the issues of the surveys sent to the companies by Sustainability Indexes and financial rating agencies for the assessment ofSustainability performances;
  • other sources of public information coming from institutions and governments, NGOs, associations, both at international and locallevel;
  • benchmark analysis and monitoring of the oil&gas sector.

Perimeter of the report

The consolidation perimeter of the sustainability reporting corresponds to the perimeter of the financial reporting. The data included in the Report, unless otherwise specified, refer to Saipem SpA and its consolidated subsidiaries, including companies managed under joint operating agreements.

Data of consolidated subsidiaries, with the exception of financial data, are included based on the operational control approach. That means that Saipem accounts for 100% of data from operations over which it or one of its subsidiaries has operational control. Moreover, for the HSEi data*, immaterial subsidiaries and subsidiaries whose activities do not produce significant effects are not included in the perimeter of reporting. For financial data, in line with the methodology of the consolidated financial statements, data from operating companies are included on a line-by-line proportional basis.

Reporting process

 The data included in the Report come from the company’s official management and reporting systems of the different functions, whose subjects are therein discussed. The main part of the data is collected by means of dedicated applications, that guarantee the reliability of the flow of information. Information and quantitative data collection process was organised to guarantee data comparison along a number of years, in order to provide an accurate reading of the information and a comprehensive vision to all the stakeholders concerned with the development of Saipem’s performance.
Moreover, a specific web tool on Saipem’s sustainability data and KPIs was developed starting from 2010, in order to allow an easier comparison with other organisations.

(*) The following three operating companies are excluded from the reporting of HSE data: Saipem Libya Limited Liability Company - SA.LI.CO. Llc, Saipar Drilling Co BV, Saipem Triune Engineering Pt.