Sineco SPA has embarked on a path aimed at developing a sustainable business model. The commitment the company has made in this direction goes hand in hand with the efforts invested in transparent reporting and communication: a way to account for its actions, but also for the sense of responsibility with which they are carried out.
The Sustainability Report presented here illustrates Sineco SPA’s approach to business and how it aligns with the Sustainable Development Goals (SDGs) set by the United Nations.
The document highlights the achievements in environmental, social, and governance areas, as well as support for local employment and the communities in which Sineco SPA operates, all in constant dialogue with a network of key stakeholders that Sineco SPA continuously aims to engage and inspire.
Sustainability encompasses broad and diverse sectors and must be managed carefully and forward-looking to protect people and our environment in all its aspects; this requires concrete commitment, aimed at the future through conscious choices to be implemented.
All sectors of the company have been involved in a collaborative effort for continuous improvement, aimed at providing a comprehensive and exhaustive reporting. They deserve a heartfelt thank you for contributing to this crucial piece for the business and ethical growth of Sineco SPA.
SUSTAINABILITY REPORT UPDATE 2023
Based on the results obtained from the materiality analysis, carefully evaluating both the positive and negative impacts of its activities, both current and potential, Sineco SPA has developed its own set of objectives to pursue within its sustainability plan, directly referencing the UN Sustainable Development Goals.
Indeed, only through collective responsibility is it possible to implement real and lasting changes, and above all, make business development increasingly sustainable. To contribute, Sineco SPA has selected specific sustainability goals and undertaken specific actions in order to have a positive impact on the planet, aligned with the common goals of the 2030 Agenda.
In particular, the commitments that Sineco SPA has made towards its stakeholders, in line with ethical principles and as part of the strategic plan developed, are in alignment with the following SDGs.
Target 3.9
The goal of ensuring the well-being of people and the context in which it operates is an integral part of Sineco SPA’s policy and operations. The protection of air quality and soil quality becomes a condition aimed at improving living conditions. Emission containment actions and those aimed at protecting people align with Target 3.9 of the Agenda, which states: “By 2030, substantially reduce the number of deaths and illnesses from hazardous chemicals and contamination of air, water, and soil pollution.”
Sineco SPA also proactively cares for the health of its employees by providing them with what is required by current regulations, along with a voluntary health insurance plan for its employees and their families, which allows for better management of personal health. To ensure health and safety, the company has implemented an ISO 45001 certified Management System, and through continuous monitoring, it constantly keeps track of its performance.
Target 6.4
Water is the element through which people will most feel the impacts of climate change in the near future, as highlighted by the UN. In line with this direction, Sineco SPA strives to manage its activities in alignment with Target 6.4: “By 2030, significantly increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity and substantially reduce the number of people suffering from its impacts.”
In line with this prescription, Sineco SPA uses water supplied by the public water system for potable use and from a well for non-potable use. Water consumption is limited and not significant, but despite this, the organization is committed to minimizing consumption and promoting a culture of conservation and protection of this resource among its employees.
Target 7.2 – 7.a
In line with Target 7.2, which states: “By 2030, significantly increase the share of renewable energy in the global energy mix,” Sineco SPA has invested in significant green technological improvements to its operations, including the installation of a photovoltaic electricity generation plant and the purchase of hybrid and fully electric material handling machinery.
Following the guidance of Target 7.a, “Reducing consumption and improving energy efficiency,” Sineco SPA’s actions have been directed towards enhancing energy efficiency in its activities, particularly focusing on the use of machinery and equipment with an emphasis on energy savings.
Faithful to the goal of clean and accessible energy, Sineco SPA has also installed a new 550 kW photovoltaic system at its headquarters, which will allow the production of green energy to be fed into the national grid, benefiting the community.
Target 8.2 – 8.8
The spending on suppliers located in Liguria during the reporting period is approximately 38% of the total, while the share of spending on Italian suppliers amounts to around 81% of total expenses. Through its activities, Sineco SPA thus supports Target 8.2: “Achieve higher levels of economic productivity through diversification, also aiming for high added value in labor-intensive sectors.”
This action is also in line with Target 8.8: “Protect the right to work and promote a healthy and safe working environment for all workers, including migrants, particularly women, and those in precarious employment.” Sineco SPA indeed ensures secure jobs with high employee retention, as evidenced by the very low turnover rate. Thanks to the positive development of its business in the reporting years, Sineco SPA, in 2023, integrated 12 employees from its affiliated company into its workforce, thereby making the employment relationship stable and long-lasting.
Target 9.5
In line with Target 9.5: “Enhance the technological capabilities of industrial sectors by encouraging innovation,” Sineco SPA has automated its logistics management systems and, in recent years, has purchased four state-of-the-art electric forklifts with remote control of performance and consumption, replacing the previous diesel-powered machines.
Target 12.4
Through the implementation of its Management System, Sineco SPA has embraced Target 12.4: “By 2030, achieve the environmentally sound management of chemicals and all wastes throughout their life cycle, in accordance with agreed international frameworks, and significantly reduce their release into air, water, and soil, to minimize their negative impacts on human health and the environment.”
The future outlook is to pay increasing attention to minimizing waste production and to contribute to raising awareness among its stakeholders, also in relation to stringent international regulations, which at times may conflict with these sustainability principles in order to provide greater specific protections.
Target 13.2 – 13.3
Climate protection for the planet is addressed by Targets 13.2: “Integrate climate change measures into policies and planning” and 13.3: “Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning systems.”
To this end, Sineco SPA has committed to reporting and reducing its greenhouse gas (GHG) emissions. The year 2019 serves as the reference year for the first GHG inventory prepared according to the GHG Protocol guidelines, which has been subsequently updated with data from the following years.
Sharing its environmental performance through its website, as well as external communication with its stakeholders, contributes to an overall awareness-raising process and the promotion of a sustainable business approach.
Furthermore, through integration and investment projects, both in renewable energy production plants and in international projects that generate benefits related to biodiversity, Sineco SPA actively contributes to reducing the impact on global climate.
To compensate for its GHG emissions, Sineco SPA has decided to support an international project with significant environmental and social impacts: the Katingan Restoration Conservation Project (“The Katingan Project”).
The Katingan Project is an international Verra project aimed at protecting and restoring 149,800 hectares of peatland ecosystems within the Katingan and Kotawaringin Timur districts in Indonesia.
Peatland forests play a unique role in storing CO2 underground, a function that has no rival in the plant world: their capacity is 20 times greater than that of other types of vegetation.
The project, created to preserve one of the largest remaining intact peat forests in Indonesia, also contributes to:
- Providing local communities with sustainable sources of income, improving their quality of life and reducing poverty;
- Improving public healthcare services;
- Supporting basic education;
- Halting the expansion of industrial plantations, which would lead to peat deforestation;
- Reforesting thousands of hectares of non-forest land within the project area;
- Preventing fires that would exponentially increase pollution levels by releasing tons of CO2 into the atmosphere;
- Protecting the rich biodiversity in this area, which is home to some of the world’s most endangered species, such as the Borneo Orangutan and the Proboscis Monkey.
Sineco’s involvement in the local community
Sineco SPA feels a strong connection to the territory that hosts it and actively contributes to the activities of local associations, promoting initiatives primarily in the social and sports sectors.
Sports
Sineco SPA believes in the values of sports and in inclusion in all its forms, as well as its educational and social value. For this reason, over the years, it has supported various sports associations in the area.
Social Activities
Equally important for the well-being of the territory is support for associations that operate in the social sector. Sineco SPA particularly supports Missione 2000, a volunteer organization that distributes meals to those in need, and the Diocesan Curia of La Spezia for local initiatives, in addition to providing contributions at the national level to projects such as Telethon and other NGOs.