Prysmian | 2013

For the third year Etica Sgr joined Prysmian‘s AGM, held in Milan on 16th April.

It was voted in favor of all items in agenda and together with some socially responsible investors such as The Cooperative Bank (AUM 23 billion euros), CREA and Ecofi Investissements (AUM 6,5 billion euros) Etica stressed some important ESG issues.

It was asked to report deeper about stakeholders’ relationships both in Italy and abroad and to publish the Sustainability Report before AGM data to allow a whole company’s analysis.

Etica SGR underlined the importance to adopt detailed policies on human rights and labor respect, to suppliers mainly, chosen according to ESG indicators such as the lack of conflict minerals’ use (i.e. minerals from Democratic Republic of Congo).

Regarding remunerations, Etica SGR suggested to Prysmian to introduce some indicators such as ROE, ROCE and ROI together with the existing ones in order to link the variable part of CEO’ remuneration to a good company’s management. Finally, Etica SGR asked the difference between the medium compensation of Prysmian’s employees and CEO’s one.

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