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Stakeholders engagement

An open dialogue with all stakeholders is a value- creating process for Saipem as it is important to learn and understand their positions

This helps the company to take into consideration any issues identified by different stakeholders and align its activities with them.
Considering the diverse range of Saipem’s stakeholders, their different needs, influences, geographical spread and level of interest, Saipem has implemented a flexible and diversified approach to stakeholder engagement. Hence, a dual approach has been implemented in Saipem to better meet any stakeholders’ need, identifying and engaging with stakeholders at both corporate and local level.
At corporate level, a process of stakeholder identification has been carried out , followed by the definition of the main messages and commitments to stakeholders. At this level, engagement activities are conducted with international or group-wide stakeholders such as investors and shareholders, clients, employees’ representatives and others. Engagement also takes place at local level, in the light of the specific characteristics of the projects that Saipem conducts and the countries where it operates, by identifying the most relevant local stakeholders and defining suitable and effective ways to create a dialogue with them.

Engagement with local communities

According to this general approach, Saipem’s Operating Companies can have different ways to engage with local communities according to the characteristics of the project and the country in which the operations are carried out. However, most Saipem’s Companies operating from a long-term perspective in a country have identified a framework system to guarantee an open and transparent relation with local communities. This includes the identification of a reference person responsible for relationships with local communities, dealing with grievance mechanisms for collection, analysis and reply of possible requests or complaints from the communities. Periodical meetings can be organised with local communities’ representatives to discuss possible remarks and observations, improvement opportunities and the definition of community action plans.

Stakeholders engagement

INSTITUTIONAL INVESTORS & SHAREHOLDERS

Investor Relations activities are based on continuous dialogue with the financial community. This is carried out in compliance with rules and regulations governing the communication of confidential information designed to provide for full transparency and equal access to information. All relevant documents are made available promptly on the Company website. As part of its institutional financial communications, in 2010 Saipem organised 27 roadshow days and attended 11 international investors’  conferences and events. Reference page: 87.

CUSTOMERS

Saipem implements a formalised customer satisfaction process, based on meetings and questionnaires whose results are reviewed by management. In parallel, data on client complaints are collected and analysed at project level to identify any possible risk of repetition or causes of anomalies which require corrective or preventive actions.
The relationship with the clients, especially at project sites, is often characterised by a daily engagement aimed to achieve the best project result. Reference pages: 85-86.

EMPLOYEES & TRADE UNIONS

In addition to established policies related to performance management and evaluation, during the first quarter of 2010 Saipem began a project of engagement analysis addressed to the middle managers population, involved approximately 3,400 resources. Moreover, in March 2010 was launched a survey addressed to all the company’s graduates born between the 80’s and the 90’s, within the so-called ‘Generation Y’ project.
The Company has signed agreements with Universities and has continued its cooperation with several local educational institutions. During 2010, Saipem also
reinforced its internal processes for the international relations with institutions and trade union organisations. Reference pages: 90-93.

LOCAL COMMUNITIES

Engagement with local communities is managed both through official initiatives and events and through informal day-by-day contacts.
For example, this year Saipem has promoted health campaigns in Angola in cooperation with the Ambriz local hospital; in Nigeria the Company works in strong integration with local communities part of a broader framework agreement based on Memoranda of Understanding; in Kazakhstan many social initiatives have been supported by the local operating companies. Reference pages: 29, 41, 45, 50-53, 59-61.

 

AUTHORITIES & DEVELOPMENT AGENCIES

Saipem frequently engages in dialogue with Authorities and Development Agencies. In several countries Saipem is working
under Memoranda of Understanding (MoUs) signed with local authorities. In November 2010 Saipem has signed a multi-year MoU with the Ambriz Municipal Administration to collaborate in the ‘Alegria do Ambriz’ project. In Angola Saipem is working also on the Food Plus Biodiesel project in a jointly work team with Eni, Sonangol and the
local Ministry of Agriculture and INCA. Saipem Azerbaijan has signed an alliance with SOCAR, the government-owned Oil Company in the ACG Product Sharing Agreement. Reference pages: 29, 33, 41.

NON-GOVERNMENTAL ORGANISATIONS

In 2010 Saipem continued its cooperation with NGOs, mainly focused on local community development. For example, in Azerbaijan, Saipem joined the local representatives of the Junior Achievement Worldwide (an international nonprofit youth organisation) in a program called ‘Sustainability for the Future’. In Peru, the Company cooperated with local NGOs and associations in development entrepreneurial promotion initiatives. Reference pages: 33, 63-65.