Saras Group Sustainability Report 2023
The 2023 Sustainability Report, now in its seventh year of publication, represents the main tool for clearly and transparently communicating the Group’s values and commitments for increasingly responsible and sustainable business conduct and fulfills the regulatory obligation of Legislative Decree 254/2016 implementing the EU Directives.
As every year, also in 2023 the starting point of reporting was the analysis of the impacts, real and/or potential, generated by the Group’s activity in the ESG field, and the subsequent determination of which are material.
In this Report, for the first time, Saras has also voluntarily introduced a second materiality perspective, namely the financial one, aimed at identifying the risks and opportunities in the economic, environmental and social fields, to which the company is exposed and which could cause financial impacts (in terms of costs, revenues, access to financing, etc.).
This innovation allows Saras to anticipate the future requirements of the new European directive on sustainability reporting, called CSRD (Corporate Sustainability Reporting Directive), which provides, among other things, for the adoption of new reporting standards, called ESRS (European Sustainability Reporting Standards), replacing the GRI (Global Reporting Initiative) standards.
In addition to the detailed reporting of the management measures adopted by the Group in relation to the aforementioned impacts, risks and material opportunities, the Sustainability Report illustrates, through numerous KPIs (Key Performance Indicators) defined by international standards, the performance achieved by the Group in the social, environmental and governance fields.
The Sustainability Report describes the Group’s strategy, aimed at maintaining the operational continuity of the site, in a safe, efficient and reliable manner and, at the same time, developing renewable sources and preparing the company to seize the opportunities arising from the energy transition.
The covers of the previous editions of the Sustainability Report
The Saras Group, founded by Angelo Moratti in 1962, is one of Europe’s leading players in the energy and oil refining industry. Through its parent company, Saras SpA, and subsidiaries Saras Trading SA, based in Geneva, and Saras Energia SAU, based in Madrid, the Group sells and distributes oil products in the domestic and international markets. The Group is also active in the electricity generation sector through its subsidiaries Sarlux Srl (IGCC plant) and Sardeolica Srl (wind farm). The Saras Group has about 1,591 employees and revenues of about EUR 11.4 billion as at 31 December 2023.