Reporting Standards

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Reporting Standards Applied​​​



The Consolidated Disclosure of Non-Financial Information of the Brembo Group contains information relating to environmental, social and employee matters, respect for human rights, anti-corruption and bribery matters, providing stakeholders with an accurate, thorough and transparent view of Brembo’s strategies, activities, performance and the Group’s results in its pursuit of economic growth and business development, while taking account of the expectations of the stakeholders involved and seeking constant improvement of the environmental and social impacts of its activities. 


This Disclosure, published annually, has been written in accordance with Italian Legislative Decree No. 254/2016 and in compliance with the Sustainability Reporting Standards published by the Global Reporting Initiative - GRI (Core Option). These Guidelines currently represent the most widespread and recognised standard on an international level regarding non-financial reporting. 


In the reporting process, with a view to continuous improvement and in response to stakeholder requirements, the Group has taken into account the indications contained in the “Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation” published in September 2020 by the Word Economic Forum and the indicators put forward by the SASB standards.



Taxonomy 


In the classification system or "taxonomy" of sustainable activities, as set out in Regulation (EU) 2020/852, the criteria to determine whether an economic activity can be considered to be eco-sustainable so that the degree of eco-sustainability of an investment associated with that activity can be identified as a result, are defined. 


In particular, the taxonomy classifies economic activities that can be potentially brought into line with the six environmental objectives defined by the European Union: 

• Climate change mitigation 

• Climate change adaptation 

• The sustainable use and protection of water and marine resources 

• The transition to a circular economy 

• Pollution prevention and control 

• The protection and restoration of biodiversity and ecosystems 


Currently the legislation has defined technical screening criteria only for the first two objectives. 


In 2021, the Brembo Group, in order to align itself with the requirements of the legislation and to make reporting increasingly transparent, carried out an initial analysis of its (so-called "eligible”) activities in order to assess their actual contribution to the objectives mentioned above. ​

 

brembo-csr-sostenibilita-2020.png​ ​

 

Reporting Process​



The preparation of the 2021 Consolidated Disclosure of Non-Financial Information is a real annual reporting process, subject to inspection, analysis and approval by several parties. In fact, the document is: 


• prepared by the Chief CSR Officer and the relevant work team, which coordinate and involve all the main company functions in the phase of collecting, analysing and consolidating data, with the task of checking and validating — each with regards to their respective area of competence — each information included in the Disclosure of Non-Financial Information, using the new software implemented by the Group 


• approved by the Board of Directors, which meets to approve the draft financial statements, after having been assessed by the CSR Committee which, through the Chief CSR Officer, presents it to the Audit, Risk & Sustainability Committee and, insofar as it is competent, to the Supervisory Committee for its examination and assessment. Brembo’s Directors are responsible for ensuring that the Consolidated Disclosure of Non-Financial Information is written and published in accordance with current legislation. Once it has been approved by the governing body and within the terms provided for the presentation of the draft Financial Statements, the draft Consolidated Disclosure of Non-Financial Information made available to the auditors (Board of Statutory Auditors and Independent Auditors); 


• subject to limited audit by EY S.p.A.​ pursuant to the International Standard on Assurance Engagement (ISAE 3000 Revised); therefore the responsibility for the data and information lies solely with the Brembo Group managers; 


• made available to Shareholders and the public within the same terms and using the same methods provided for the p​resentation of the draft Financial Statements; 


• published on and downloadable from the corporate website.



 

Reporting Principles


The following principles have been taken into consideration in defining and reporting the contents of the Consolidated Disclosure of Non-Financial Information:


 

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GRI table of contents ‘in accordance’ – core option​

GRI ID​Disclosure ​​Page number or disclosure​​​UN Global Compact​​SDGs*
​GENERAL STANDARD DISCLOSURES (2016) ​ 
​ORGANIZATION PROFILE​ ​​​(2016)​​
102-1​Name of the organisation ​ 26​​​​​​​
102-2Activities, brands, products, and services ​22-23, 30​​
102-3​​Location of headquarters​ 26​​​
102-4​​​Location of operations​26-27​​
​102-5​Ownership and legal form​
26, 214, Corporate Governance and Ownership Structure Report; Annual Report​
102-6​​Markets served  23, 28-29​​
102-7​​Scale of the organization22, Annual Report​​
102-8​Information on employees and other workers ​ 112, 118-121, 204-205​ ​​Principle 6​​8, 10​
102-9​​Supply chain18-19, 138-139​​
102-10​​Significant changes to the organization and its supply chain ​214-215​​
102-11​​Precautionary principle or approach ​103-109​​
102-12​External initiatives ​The Group adheres to UN Global Compact principles and is inspired by the International Labour Standards set out in the fundamental conventions of the International Labour Organisation (ILO).​
102-13​​Membership of associations ​
​STRATEGY (2016)
​102-14​​Statement from senior decision-maker ​
102-15​​​​Key impacts, risks, and opportunities​​ 106-109, 217​​​
​ETHICS AND INTEGRITY​​​​​ (2016)
​102-1​6​​​Values, principles, standards, and norms of behaviour​9, 45, 91-95​​Principle 10​​16​
102-17​​Mechanisms for advice and concerns about ethics​
93-94, 97-98, 121​​
Principle 10​​​16
​​GOVERNANCE (2016) ​ ​
​102-18​Governance structure 42-44, 78-91, 204, Corporate Governance and Ownership Structure Report​
​102-19Delegating authority ​43-44​​
​102-20​Executive-level responsibility for economic, environmental, and social topics 43-44​​​​
​102-22​Composition of the highest governance body and its committees 78-79, 80, 82, 85, 87, 204, Corporate Governance and Ownership Structure Report​ 5, 16​​
102-23Chair of the highest governance body ​ 82, 204, Corporate Governance and Ownership Structure Report​​16
102-24Nominating and selecting the highest governance body ​ 82-84, Corporate Governance and Ownership Structure Report​​5, 16​
102-26​Role of highest governance body in setting purpose, values, and strategy ​ 78-79, 81​​
​102-27​Collective knowledge of highest governance body 87​
102-28​Evaluating the highest governance body’s performance ​ 83, Corporate Governance and Ownership Structure Report​
102-30​​Effectiveness of risk management processes 81, 103-105​​
​102-31​Review of economic, environmental, and social topics 42-43, 78-79, 81​​
102-32​Highest governance body’s role in sustainability reporting ​42-43, 214​​
102-33​Communicating critical concerns ​ 42-43, 91-93, Corporate Governance and Ownership Structure Report​
​102-35Remuneration policies ​85-86, Remuneration report​​ ​
​STAKEHOLDER ENGAGEMENT​​​​​​ (2016)
​102-40​​List of stakeholders groups 54​
102-41Collective bargaining agreements ​113​Principle 3​​​8
102-42Identifying and selecting stakeholders ​ 54​
102-43Approach to stakeholder engagement ​55-58​​
102-44​Key topics and concerns raised ​55-58​​
​REPORTING PRACTICE​​​​​​​ (2016)
​102-45​Entities included in the consolidated financial statements ​214, Annual report​​
102-46Defining report content and topic Boundaries ​63-64, 216-217​​
102-47​List of material topics 63-67​​
102-48​Restatements of information ​Any changes to the information provided in previous documents have been duly identified in the text through related explanatory notes.​​
102-49​​Changes in reporting ​ No significant changes have been reported compared to previuos reporting period​​
102-50​​Reporting period 214​​
102-51​Date of most recent report​Consolidated Disclosure of Non Financial Information (in accordance with Legislative Decree No. 254/2016) was published on 2021 ​march 22nd
102-52​Reporting cycle​ 214​​
102-53​Contact point for questions regarding the report ​ 215​​
102-54Claims of reporting in accordance with the GRI Standards ​214​
102-55​GRI content index​ 218-226​​
102-56​External assurance 214, 228-230​​​
CATEGORY: ECONOMIC PERFORMANCE ​​ 
ASPECT: ECONOMIC PERFORMANCE (2016)
​​103-1, 103-2, 103-3 ​​Management approach64-70, 188-190, 217​​
201-1Direct economic value generated and distributed​ 189​8, 9​​
201-4 ​Financial assistance received from government ​​ 189-190​​​​​
ASPECT: MARKET PRESENCE (2016) ​
​103-1, 103-2, 103-3 Management approach 64-70, 108, 118-121, 217​​
202-2​Proportion of senior management hired from the local community 120​​​​Principle 6​8​​
ASPECT: PROCUREMENT PRACTICE (2016) ​
​103-1, 103-2, 103-3 ​Management approach64-70, 138-139, 217​​
204-1Proportion of spending on local suppliers 139​​8​​
ASPECT: ANTI-CORRUPTION (2016) ​
103-1, 103-2, 103-3 ​Management approach64-70, 90-92, 94-95, 96-99, 108, 217​​
205-2​Communication and training about anti-corruption policies and procedures​99, Corporate Governance and Ownership Structure Report​​Principle 10​​16​
205-3​Confirmed incidents of corruption and actions taken 99​​Principle 10​​​16
ASPECT: ANTI-COMPETITIVE BEHAVIOUR (2016) ​
103-1, 103-2, 103-3 ​​Management approach 64-70, 93-94, 217​​
206-1​Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices ​93-94​​16​​
​ASPECT:​ TAX (2019) ​ ​ ​ ​
103-1, 103-2, 103-3 ​​Management approach​64-70, 95-96, 100-101, 217​​
207-1​​Approach to tax​100-101​1, 10, 17​
​207-2​​Tax governance, control, and risk management100-101​​​1, 10, 17
207-3​​Stakeholder engagement and management of concerns related to tax​100-101​​1, 10, 17​
207-4​​​​Country-by-country reporting​​212-213​, Section “Performance of Brembo Companies” included in the Directors’ Report on Operations​1, 10, 17​​
CATEGORY: ​ENVIRONMENTAL PERFORMANCE ​​ 
ASPECT: ENERGY (2016) ​
103-1, 103-2, 103-3 ​​Management approach​ 64-70, 106-107, 170-178, 217​​
302-1​Energy consumption within the organisation​ 177​​​Principle 7, 8​7, 8, 12, 13 ​​
302-4​​Reduction of energy consumption176-177​​Principle 8, 9​​7, 8, 12, 13 ​
ASPECT: WATER AND EFFLUENTS (2018)
103-1, 103-2, 103-3 ​​Management approach​ 64-70, 106-107, 173, 181-184, 217​​​
303-1Interactions with water as a shared resource ​181-182​​​Principle 7, 8​​6, 12​
303-2​Management of water discharge related impacts ​​182​​​Principle 8​​6
​303-3Water withdrawal ​​ 183​​​​Principle 8​6​​
303-4​Water discharge ​​183​​​Principle 8​​6
303-5​Water consumption ​​ 184, Water storage does not have a significant impact in relation with the use of water resources​ ​​Principle 8​6​​
​​ASPECT: EMISSIONS (2016) ​
103-1, 103-2, 103-3 General requirements about the management approach and its components​64-70, 106-107, 170-173, 178-181, 217​​
305-1​Direct (Scope 1) GHG emissions180​​Principle 7, 8​​3, 12, 13, 14, 15​
305-2Energy indirect (Scope 2) GHG emissions​ 180​​Principle 7, 8​​3, 12, 13, 14, 15
305-3​Other indirect (Scope 3) GHG emissions​180​​Principle 7, 8​​3, 12, 13, 14, 15
305-5Reduction of GHG emissions178-179​​​Principle 8, 9​13, 14, 15​​
305-7​​Nitrogen oxides (NOX), sulphur oxides (SOX), and other significant air emissions​ 181​​Principle 7, 8​3, 12, ​14, 15​
ASPECT: WASTE (2020)​ ​
103-1, 103-2, 103-3 ​Management approach​ 64-70, 106-107,173-174​, 184-185, 217​​
306-1​​Waste generation and significant waste-related impacts​ ​184-185​​​3, 6, 11, 12​
306-2​​Management of significant wasterelated impacts​ 184-185​​​Principle 8​​3, 6, 8, 11, 12​
​306-3​​​Waste generated​​184-185​​Principle 8​​​3, 6, 11, 12, 15​
306-4​​Waste diverted from disposal​​​​184-185​3, 11, 12​​
306-5​​​​Waste directed to disposal​​​184-185​​3, 6, 11, 12, 15​
ASPECT: ENVIRONMENTAL COMPLIANCE (2016) ​
103-1, 103-2, 103-3 ​Management approach​ 64-70, 98, 106-107, 170-173, 217​​​
307-1Non-compliance with environmental laws and regulations ​In 2021, Brembo received two pecuniary fines due to non-compliance with environmental laws and regulations for a total amount of €21,146 thousand.​Principle 7, 8​​​16
ASPECT: SUPPLIER ENVIRONMENTAL ASSESSMENT (2016) ​​
103-1, 103-2, 103-3 ​Management approach​64-70, 107, 138-143, 217​​
308-1​New suppliers that were screened using environmental criteria ​138, 141-142​​​Principle 7, 8​
CATEGORY: SOCIAL PERFORMANCE ​ ​​ 
ASPECT: EMPLOYMENT (2016) ​
​103-1, 103-2, 103-3 ​General requirements about the management approach and its components​ ​ 64-70, 108-109, 112-118, 217​​
401-1New employee hires and employee turnover ​113-114, 206​ ​​Principle 6​​5, 8, 10​​
ASPECT: OCCUPATIONAL HEALTH AND SAFETY (2018)
​103-1, 103-2, 103-3 Management approach 16-17, 64-70, 94-95, 108, 126-130, 217​​
403-1​Occupational health and safety management system 126-128​​3, 8, 16​
403-2​Hazard identification, risk assessment, and incident investigation 126-128​​​​​​8​
​403-3Occupational health services ​ 132-133​​​​8​
​403-4Worker participation, consultation, and communication on occupational health and safety ​129-130​​​​​8, 16​​
​403-5​Worker training on occupational health and safety 132-134​​​​​​8
​403-6​Promotion of worker health 130-134​​​3​
403-7​​Prevention and mitigation of occupational health and safety impacts directly linked by business relationships 126, 140​​​​​8
​403-8​Workers covered by an occupational health and safety management system 126-127​ ​​​​​8
​​403-9Work-related injuries ​ 126-129, 207-211​​​​3, 8, 16​
​403-10Work-related ill health ​​129, 208, 211​​​3, 8, 16​​
ASPECT: TRAINING AND EDUCATION (2016) ​
103-1, 103-2, 103-3 Management approach​ 64-70, 108, 121-124, 129-130, 217​​
404-1Average hours of training per year per employee ​ 123​​ Principle 6​​4, 5, 8, 10​
404-3Percentage of employees receiving regular performance and career development reviews ​125​​Principle 6​​​​5, 8, 10
​ ASPECT: DIVERSITY AND EQUAL OPPORTUNITY (2016) ​ ​
103-1, 103-2, 103-3 ​​Management approach 64-70, 89, 94-95, 118-121, 217​​​Principle 6​​
​405-1 Diversity of governance bodies and employees ​​ 78, 84, 119-120, 204-205​​​Principle 6​5, 8​​
ASPECT: NON-DISCRIMINATION (2016) ​
103-1, 103-2, 103-3 Management approach​ 64-70, 94-95, 118-121, 217​​​​Principle 6​​
406-1Incidents of discrimination and corrective actions taken​ 121​​​​Principle 1, 2, 6​​5, 8​​
ASPECT: HUMAN RIGHTS ASSESSMENT (2016) ​
103-1, 103-2, 103-3 ​Management approach64-70, 97-99, 107-108, 122, 217​​​​
412-2Employee training on human rights policies or procedures ​122​​
ASPECT: SUPPLIER SOCIAL ASSESSMENT (2016) ​
103-1, 103-2, 103-3 Management approach​64-70, 107, 138-143, 217​​
414-1​New suppliers that were screened using social criteria 141-142​​Principle 2, 4, 5​​​5, 8, 16​
​​ASPECT: PUBLIC POLICY (2016) ​ ​
​​103-1, 103-2, 103-3 ​Management approach ​​ 64-70, 217,Code of Ethics​
​415-1 ​Political contributions ​In 2021, Brembo did not grant political or financial contributions, nor contributions in kind.​Principle 10​​​16
ASPECT: CUSTOMER HEALTH AND SAFETY (2016) ​
103-1, 103-2, 103-3 ​Management approach 64-70, 108-109, 162-166, 217​​​
416-1​Assessment of the health and safety impacts of products and services categories ​ 163​​
ASPECT: CUSTOMER PRIVACY (2016) ​
103-1, 103-2, 103-3 ​Management approach64-70, 93-94, 107-108, 217
418-1Substantiated complaints regarding breaches of customer privacy and losses of customer data ​ 9416​​​
MATERIAL TOPICS THAT ARE NOT COVERED BY GRI INDICATORS ​ ​ ​
​MATERIAL TOPIC: CARBON NEUTRAL MOBILITY ​ ​ ​
​103-1, 103-2, 103-3 ​Management approach ​​64-70, 109, 150-153, 217​​
MATERIAL TOPIC: PRODUCT DESIGN AND STYLE ​
103-1, 103-2, 103-3 ​Management approach​​64-70, 155-157, 166-167, 217​​​​
​​​​​​​

* Linking the SDGs and the GRI Standards – Edition march 2021​


 

​SASB and WEF​

​​​​

​   SASB - Auto parts
Topic​​ SASB ID​ Disclosure​ Page number or disclosure​​
Energy Management​​​TR-AP-130a1​ (1) Total energy consumed,
(2) percentage grid electricity,
(3) percentage renewable​

177
Waste Management​​TR-AP-150a.1​(1) Total amount of waste from manufacturing,
(2) percentage hazardous,
(3) percentage recycled

185
​   WEF Measuring Stakeholder Capitalism - Core metrics​
Topic​​
Disclosure​​ Page number or disclosure​​​​​​

Quality of governing body​


Board composition​

81-84​​


Ethical behaviour​

Anti-corruption​​ 92, 96-99, 108-109​​

Protected ethics advice and reporting mechanism​98-99, 121​​
Risk and opportunity oversight​
Integrating risk and opportunity into business process ​ 94-95, 98-99, 120​​

Climate change​​

 ​ Greenhouse gas (GHG) emissions​180​​​
​ ​ TFCD implementation​​107, 170-171​​
​​Freshwater availability​​
Water consumption and withdrawal in water-stressed areas​183-184​​​
​Dignity and equality​
Diversity and inclusion (%)​
78, 89, 119-120, 204​​​
Community and social vitality​
Total tax paid​
100-101, 212-213, Section “Performance of Brembo Companies” included in the Directors’ Report on Operations​


​​​Employment and wealth generation​



Absolute number and rate of employment​
113-114, 206​​​

Economic contribution​
189

Financial investment contribution​
189​




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Brembo S.p.A. | P.IVA 00222620163

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