Piaggio | 2014

For the fourth year, on April 28, 2014, Etica Sgr voted at the shareholder general meeting of Piaggio, an Italian motorcycle manufacturer that produces scooter, motorbikes and light commercial vehicles under different brands, including Piaggio, Vespa, Moto Guzzi and Ape.

With the support of some socially responsible investors such as the American CREA and Boston Common Asset Management, Etica Sgr attended the general meeting to stress the management on some environmental, social and governance (ESG) issues.

Etica Sgr voted for all items in agenda, except for the proposal of share buyback, because of the lack of information about the reasons and the strategies that Piaggio wish to pursue using its own shares.

Etica Sgr attended the general meeting and in its speech asked the Company management to adhere to various Carbon Disclosure Project (CDP) initiative, as the Climate Change questionnaire and the Water one, Etica Sgr also expressed appreciation for the ISO 14001 certification (concerning the environmental management) obtained by the Company in its Indian plant and solicited the management to extend it to all the factories of the Group.

Etica Sgr also asked information about the employment situation of the Company in Italy (regarding the enforcement of the agreements signed with the trade unions in Pontedera) and abroad (particularly about the demonstrations that took place in India).

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