csr

Page from the Sustainability Report

Employees

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The survey on organisational well-being in the company, carried out during 2011, resulted in an Action Plan for 2012 which focused in particular on four areas, considered most sensitive to improvements: centre-periphery relationships, people, work spaces and tools, and simplifying internal bureaucracy.

Shareholders, financial analysts and lenders

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Transparency and prompt availability of information characterize the relationship between Terna and its institutional and individual investors. Specifically, the Investor Relations Unitinteracts with market operators, and the Department of Corporate Affairs with retail shareholders.

Retail investors can contact the Company by phone at (+39) 06-8313.8136 and (+39) 06-8313.8359, and by e-mail at: azionisti.retail@terna.it.

Stakeholder engagement

The construction of a relationship based on mutual trust with our stakeholders begins with the consideration of their interests and an analysis of their compatibility with those specific to the Company, in order to adopt a consistent and transparent policy.

In preparing its Code of Ethics, Terna identified – through the active participation of its Top Management – the eight most significant categories of stakeholdersin terms of the continuity of the relationship and the importance of the Company’s impact on them and vice versa.

Human resources

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Constant concern for human resources, first of all with regard to safety, but also training to continually update the technical capabilities that are a feature of the industry will continue to be a priority for Terna.

Activities abroad

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Focusing on the area of Mediterranean North Africa and on the Balkans limits potential critical issues which can emerge operating abroad.

The development of foreign business based on current forecasts does not lead us to expect the emergence of issues that are not already overseen in the current context of social responsibility activities. However, constant monitoring of the adequacy of tools and processes will be required. This has already begun, for example, with reference to the supply chain.

The environment, climate, and renewable energy sources

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Among the topical issues to which Terna pays close attention are electro-magnetic fields, climate change, and the development of electricity production from renewable sources.

Local communities

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In the medium term, the creation of value for shareholders and the quality of the electricity service are linked to development of the grid and of interconnection relations with other countries.

Medium-term prospects

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Projected over a medium/long-term horizon, the themes of sustainability are part of Terna's development strategies above all as regards the aspects of relations with the community and environmental impacts. The need to face up to a significant generational succession will keep the issue of core competence management alive in the next few years, which will combine with those - ever-primary issues - of quality and security of the electricity service.

Terna's concerns

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Terna's main business is the provision of a service which is indispensable for operation of the entire electricity system and to ensure electricity for everyone. The greatest social and economic impact of the company's business lies in its ability to ensure that the general public has reliable, efficient electricity service. The commitment to service is therefore also the main reference point for the approach to sustainability matters, for which, in particular, respect for the environment and the local area and attention to workplace safety and staff training are particularly important.

Risk management

The analysis, prevention and management of risk regards the different aspects of corporate activities. Terna's business is exposed to market and financial risks (regarding the interest rate, inflation, liquidity and credit), risks connected with its financial requirements, operating risks connected with grid malfunction, regulatory risks and litigation risks. For a description of the procedures for preventing and managing such risk, see pages 83-84 of the 2012 Annual Report.

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