Reporting Standards

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Reporing Standards Applied​​​



This Consolidated Disclosure of Non-Financial Information for 2019, in accordance with Legislative Decree No.254/2016, of the Brembo Group is intended to provide an accurate, thorough and transparent view of the Group’s strategies, actions and 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 therefore contains a description of the company’s business model, information on the policies applied concerning the aspects mentioned by the Decree and those considered to be important for Brembo, the results arising from such policies, the main risks connected to such aspects and the related risk management policies. 


The information was selected based on the process of materiality analysis in accordance with the Sustainability Reporting Standards published in 2016 by the Global Reporting Initiative (GRI) (Core Option) adopted as the standard of reference for the preparation of this document.


 

brembo-csr-sostenibilità-2018 INGL.jpg​ 

 

Reporting Process​



The preparation of the 2019 Consolidated Disclosure of NonFinancial 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 Steering 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 NonFinancial Information made available to the auditors (Board of Statutory Auditors and Independent Auditors); 


• subject to limited audit by EY S.p.A., 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 presentation 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 on Non-Financial Information:


 

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

GRI ID​Disclosure ​​Page number or disclosure​
GENERAL STANDARD DISCLOSURES (2016) ​ 
​ORGANIZATION PROFILE​ ​​​(2016)
102-1​Name of the organisation ​ ​​​9​​​​​
102-2Activities, brands, products, and services ​ 1522​
102-3​​ 18
102-4​​​Location of operations​ 18 - 19
​102-5​Ownership and legal form​
18, 166 , Corporate Governance and Ownership Structure Report; 

Annual Report ​
102-6​​Markets served  15, 20 - 21
102-7​​Scale of the organization 14, Annual Report​
102-8​Information on employees and other workers ​ 76, 8082, 158, 15​9
102-9​​Supply chain 9899
102-10​​Significant changes to the organization and its supply chain ​As of 30 June 2019, Brembo decided to discontinue its industrial operations at the Buenos Aires plant. As a result, the subsidiary Brembo Argentina S.A. will be placed in liquidation. Brembo took this decision as it was impossible to boost new projects because of the sharp downtrend experienced by the Argentinian automotive sector and its quite discouraging recovery prospects. ​​
102-11​​Precautionary principle or approach ​ 6870
102-12​External initiatives ​The Group does not adopt any codes and principles that are external to the organisation. However, the Group follows the International Labour Standards set out in the fundamental conventions of the International Labour Organisation (ILO). ​
102-13​​Membership of associations ​
4043
​STRATEGY (2016)
​102-14​​Statement from senior decision-maker ​
67
102-15​​​​Key impacts, risks, and opportunities​​ 70 - 73 , 113, 116 - 118
​ETHICS AND INTEGRITY​​​​​ (2016)
​102-1​6​​​Values, principles, standards, codes of conduct and codes of ethics 31, 62 - 65
102-17​​Description of mechanisms for reporting about non-ethical and unlawful behaviour​
64, 6782
​​GOVERNANCE (2016) ​ ​
​102-18​Governance structure 2954 - 62158, Corporate Governance and Ownership Structure Report
​102-19Delegating authority ​28 - 30
​102-20​Executive-level responsibility for economic, environmental, and social topics 28 - 30​​
​102-22​Composition of the highest governance body and its committees 54 - 5658 - 59, 158 Corporate Governance and Ownership Structure Report ​
102-23Chair of the highest governance body ​58,​ 158 Corporate Governance and Ownership Structure Report ​
102-24Nominating and selecting the highest governance body ​ 55 - 57, Corporate Governance and Ownership Structure Report ​​
102-26​Role of highest governance body in setting purpose, values, and strategy ​55 - 56
​102-27​Collective knowledge of highest governance body 58
102-28​Evaluating the highest governance body’s performance ​ 57 , Corporate Governance and Ownership Structure Report
102-30​​Effectiveness of risk management processes ​​ 68 - 69
​102-31​Review of economic, environmental, and social topics ​​ 29, ​ 55 - 56
102-32​Highest governance body’s role in sustainability reporting ​​​​ 9, ​ 29 , 167
102-33​Communicating critical concerns ​​​​ 29, ​63, Corporate Governance and Ownership Structure Report ​​
​102-35Remuneration policies ​56, Remuneration Report ​
​STAKEHOLDER ENGAGEMENT​​​​​​ (2016)
​102-40​​List of stakeholders groups36
102-41Collective bargaining agreements ​77
102-42Identifying and selecting stakeholders ​36
102-43Approach to stakeholder engagement ​ 37 - 39
102-44​Key topics and concerns raised ​ 37 - 39, 114 - 115
​REPORTING PRACTICE​​​​​​​ (2016)
​102-45​Entities included in the consolidated financial statements ​166, Annual Report ​
102-46Defining report content and topic Boundaries ​ 44 - 46, 168 - 169
102-47​List of material topics 45 - 49
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 ​ 45
102-50​​Reporting period 9, ​ 167
102-51​Date of most recent report​ 9.

The 2018 Consolidated Disclosure of Non- Financial Information (in accordance with Legislative Decree No. 254/2016) was published on 23rd March 2019. ​
102-52​Reporting cycle​ 166, ​ 167
102-53​Contact point for questions regarding the report ​ 9
102-54Claims of reporting in accordance with the GRI Standards ​ 9, 166
102-55​GRI content index​ 171 - 177
102-56​External assurance 167, 179 - 181
CATEGORY: ECONOMIC PERFORMANCE ​​ 
ASPECT: ECONOMIC PERFORMANCE (2016)
​​103-1, 103-2, 103-3 ​​Management approach 46 - 49, 146 - 148, 169
201-1Direct economic value generated and distributed​ 147
201-4 ​Financial assistance received from government ​​ 147​​
ASPECT: MARKET PRESENCE (2016) ​
​103-1, 103-2, 103-3 Management approach 46 - 49, 71 - 72, 80 - 82, 169
202-2​Proportion of senior management hired from the local community 82​​
ASPECT: PROCUREMENT PRACTICE (2016) ​
​103-1, 103-2, 103-3 ​Management approach 46 - 49, 98 - 99, 169
204-1Proportion of spending on local suppliers 98 - 99
ASPECT: ANTI-CORRUPTION (2016) ​
103-1, 103-2, 103-3 ​Management approach 46 - 49, 62 - 63, 67, 72, 169
205-2​Communication and training about anti-corruption policies and procedures​ 67, ​Corporate Governance and Ownership Structure Report
205-3​Confirmed incidents of corruption and actions taken 67
ASPECT: ANTI-COMPETITIVE BEHAVIOUR (2016) ​
103-1, 103-2, 103-3 ​​Management approach 46 - 4964169
206-1​Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices ​ 64
CATEGORY: ​ENVIRONMENTAL PERFORMANCE ​​ 
ASPECT: ENERGY (2016) ​
103-1, 103-2, 103-3 ​​Management approach​ 46 - 49, 70 - 71, 128 - 133169
302-1​Energy consumption within the organisation​ 133
302-4​​Reduction of energy consumption 133
ASPECT: WATER AND EFFLUENTS (2018)
103-1, 103-2, 103-3 ​​Management approach​ 46 - 49, 70 - 71138 - 139169
303-1Interactions with water as a shared resource ​ 138 - 139
303-2​Management of water discharge related impacts ​​ 138 - 139
​303-3Water withdrawal ​​ 139​​
303-4​Water discharge ​​ 140
303-5​Water consumption ​​140. Water storage does not have a significant impact in relation with the use of water resources ​
​​ASPECT: EMISSIONS (2016) ​
103-1, 103-2, 103-3 Management approach ​ 46 - 49, 70 - 71128 - 130134 - 1​37169
305-1​Direct (Scope 1) GHG emissions 136
305-2Energy indirect (Scope 2) GHG emissions​ 136
305-3​Other indirect (Scope 3) GHG emissions​ 136
305-5Reduction of GHG emissions 134 - 1​35
305-7​​Nitrogen oxides (NOX), sulphur oxides (SOX), and other significant air emissions​ 1​37
ASPECT: EFFLUENTS AND WASTE (2016) ​
103-1, 103-2, 103-3 ​Management approach​ 46 - 49, 70 - 71, 130141 - 1​42169
306-2​Waste by type and disposal method ​ 141
306-3​​Significant spillsIn 2019, only the Disk Mapello plant reported a 26.62 mc spill. The spill involved the ecological area and the square in front of it, and did not have a significant impact.​
ASPECT: ENVIRONMENTAL COMPLIANCE (2016) ​
103-1, 103-2, 103-3 ​Management approach​ 46 - 49, 65, 70 - 71, 128 - 130169
307-1Non-compliance with environmental laws and regulations ​In 2019, Brembo received three pecuniary fines due to non-compliance with environmental laws and regulations for a total amount of € 208 thousand. Said fines referred to the BNBS plant in China, the Homer foundry in the United States, and the Dąbrowa foundry in Poland. ​
ASPECT: SUPPLIER ENVIRONMENTAL ASSESSMENT (2016) ​​
103-1, 103-2, 103-3 ​Management approach​ 46 - 49, 71, 99 - 102, 169
308-1​New suppliers that were screened using environmental criteria ​ 98, 101
CATEGORY: SOCIAL PERFORMANCE ​ ​​ 
ASPECT: EMPLOYMENT (2016) ​
​103-1, 103-2, 103-3 ​Management approach ​ 46 - 49, 71 - 72, 76 - 7982 - 83169
401-1New employee hires and employee turnover ​ 77 - 78160
ASPECT: OCCUPATIONAL HEALTH AND SAFETY (2018)
​103-1, 103-2, 103-3 Management approach 46 - 49, 65 - 66 , 71, 88, 95169
403-1​Occupational health and safety management system 88 - 89
403-2​Hazard identification, risk assessment, and incident investigation 88 - 89
​403-3Occupational health services ​ 93 - 95
​403-4Worker participation, consultation, and communication on occupational health and safety ​91 - 92
​403-5​Worker training on occupational health and safety 93 - 95​​
​403-6​Promotion of worker health 92 - 95
403-7​​Prevention and mitigation of occupational health and safety impacts directly linked by business relationships 88, 100​​
​403-8​Workers covered by an occupational health and safety management system 88 - 89​​​
​​403-9Work-related injuries ​88 - 89, 161 - 164
​403-10Work-related ill health ​​90, 162, 165
ASPECT: TRAINING AND EDUCATION (2016) ​
103-1, 103-2, 103-3 Management approach​ 46 - 49, 71 - 72, 84 - 8791 - 92169
404-1Average hours of training per year per employee ​ 85
404-3Percentage of employees receiving regular performance and career development reviews ​ 87​
​ ASPECT: DIVERSITY AND EQUAL OPPORTUNITY (2016) ​ ​
103-1, 103-2, 103-3 ​​Management approach 46 - 49, 61, 80 - 82, 169
​405-1 Diversity of governance bodies and employees ​​56, 60, 81, 158
ASPECT: NON-DISCRIMINATION (2016) ​
103-1, 103-2, 103-3 Management approach​ 46 - 49, 64, 80 - 82169​​
406-1Incidents of discrimination and corrective actions taken​ 82
ASPECT: HUMAN RIGHTS ASSESSMENT (2016) ​
103-1, 103-2, 103-3 ​Management approach 46 - 49, 66- 67, 71, 84, 169​​
412-2Employee training on human rights policies or procedures ​ 84
ASPECT: SUPPLIER SOCIAL ASSESSMENT (2016) ​
103-1, 103-2, 103-3 Management approach​ 46 - 49, 71, 99 -102, 169
414-1​New suppliers that were screened using social criteria 98, 101
​​ASPECT: PUBLIC POLICY (2016) ​ ​
​​103-1, 103-2, 103-3 ​Management approach ​​46 - 49, ​ 169, Code of Ethics ​
​415-1 ​Political contributions ​In 2019, Brembo did not grant political or financial contributions, nor contributions in kind.​​
ASPECT: CUSTOMER HEALTH AND SAFETY (2016) ​
103-1, 103-2, 103-3 ​Management approach 46 - 49, 72119 -123, 169
416-1​Assessment of the health and safety impacts of products and services categories ​ 119 - 120
ASPECT: CUSTOMER PRIVACY (2016) ​
103-1, 103-2, 103-3 ​Management approach 46 - 49, 6472, 169
418-1Substantiated complaints regarding breaches of customer privacy and losses of customer data ​ 64
MATERIAL TOPICS THAT ARE NOT COVERED BY GRI INDICATORS ​ ​ ​
​MATERIAL TOPIC: CARBON NEUTRAL MOBILITY ​ ​ ​
​103-1, 103-2, 103-3 ​Management approach ​​46 - 49, 112 - 113, 125, 169
MATERIAL TOPIC: PRODUCT DESIGN AND STYLE ​
103-1, 103-2, 103-3 ​Management approach​​46 - 49, 109 - 111, 123- 124, ​169
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Brembo S.p.A. | P.IVA 00222620163

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