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ESG Indices and Ratings

One of the ways in which sustainability applies to finance is the practice of socially responsible investing (SRI), according to environmental, social and/or governance considerations integrate the financial assessments carried out at the time the choice is made to buy or sell a security. SRI is implemented with the inclusion of listed companies on ethical indices.

The Group is currently listed in the following ESG indices:

Since July 2018, A2A has also been included in the FTSE4 Good Index Series, the series of ethical indices of FTSE Russel designed to measure the sustainability performance (ESG) of companies in the main world markets.

Since 2018, A2A has also decided to request a “sollicited” rating from Standard Ethics in order to obtain an external and independent assessment of its sustainability performance, based on a structured and validated assessment procedure. In 2020 Standard Ethics confirmed the previous rating "EE" and in March 2021 the outlook was raised from "stable" to "positive".

A2A is also included in the Ethibel Excellence In-vestment Register and in the Ethibel Pioneer Invest-ment Register.

In 2020, the Group also focused on questionnaires related to key issues such as Diversity, to assess its international positioning and any areas for improvement. For the first time, A2A responded to the Refinitiv Diversity & Inclusion assessment and to the questionnaire for inclusion in the Bloomberg Gender Equality Index, which has been carried out since this first attempt.

In addition, A2A participates in the assessments of Vigeo-EirisS&P CSA, Sustainalytics, MSCI and the “Top 100 Green Utilities” (of the Energy Intelligence Group).

ESG Assessments results

ESG assessments Ratings
FTSE4GOOD Average score: 4.0/5
CDP Climate Change: A-/A
Water Security: B-/A
VIGEO-EIRIS Overall score: 63/100 – Advanced
Outlook: Positive
S&P Global (CSA) Average score: 70/100


ESG results: some numbers of 2020

Environment - Circular Economy

In 2020 we continued to work for:

  • increase the treatment capacity of the group, building new plants for the recovery of materials and energy from waste (as an example: we have started work on the construction of two OFMSW – Organic Fraction from Municipal Solid Waste – treatment plants for the production of compost and biomethane in Lacchiarella and Cavaglià)
  • reduce water leaks (for example through the installation of sensors in the pipes of in the city centre area of Brescia to detect the "noise" of a leak escaping from the pipe
  • upgrade the purification treatment service (for example, we have started the construction of a very important district treatment plant in Valtrompia, which will be able to serve 138,000 equivalent inhabitants)
  • develop district heating, increasingly powered by renewable sources or heat from industrial processes that should be dispersed
  • help citizens to make good separate collection
Treated Waste (million tonnes) 3.3
Recovered waste as material or energy (million tonnes)


Collected urban waste sent to Landfill (% of total) 0%
Emissions saved by district heating (kt CO2eq) 225
Separate collection index (Group's average) 71%
Inhabitants with purification service 577,000


Environment - Energy Transition

In 2020 we committed ourselves to

  • accelerate the growth of renewables (as an example we acquired the first Group’s wind farm, located in Campania, with a capacity of 8.2 MW)
  • reduce the emissive impact of our electricity production (the emission factor was reduced by 10% compared to last year, this due to the lower use of fossil fuels and the growth of energy production from renewable sources)
  • make the electricity networks increasingly efficient and resilient so as to support the spread of electricity consumption (by way of example, we have completed the replacement plan of 10,000 joints on the electricity networks of Milan and we are continuing the plan to replace electrical meters with new generation devices, Smart Meter 2G)
  • promote sustainable consumptions of our customers, in terms of energy efficiency, 100% renewable energy supplies and electric mobility (by way of example, we have sold 3.9 TWh of green energy, 72% more than last year; and we have allowed to cover 11.1 million km travelled zero emissions thanks to our charging infrastructure for electric vehicles)
Direct emissions - Scope 1 (million tonnes) 6
Indirect emissions - Scope 2 (kt) 9
SBTi emission factor (gCO2/kWh) 310
Coal production (% of total of electricity produced) 1%
Green energy sold (TWh) 3.9
kilometers travelled travelled with zero emissions thanks to E-moving service (million) 11.1


People and Communities (Social)

In 2020 we continued to work for:

  • improve the safety of people working with us, reducing the accident rate by 17% compared to last year
  • preserve the health of our people (by way of example, the vaccination campaign carried out to 1,700 people and giving our availability for the implementation of the vaccination plan anti Covid-19)
  • support the economy of our territories (by way of example, through the recruitment of over 1,000 people, the allocation of 97% of orders to Italian suppliers and the support of social, sports and cultural initiatives with 8.1 million euro)
  • maintain high customer satisfaction
Group's employees (number) 12,978
Group's women (% of entire population) 18%
Hires (number) 1,077
Accident Index (frequencyxgravity) 10.9
Contributions to the communities (contributions made in sponsorships, donations and support of the Group Foundations,...)(million euro) 8.1
Italian suppliers (% of total)  97%
Sanitation service customer satisfaction (Amsa) 7.8
Sanitation service customer satisfaction (Aprica) 7.9


Governance (Governance)

In 2020 we committed ourselves to:

  • generate and distribute value to our communities, including through stakeholder engagement initiatives carried out, despite the health emergency
  • grown on equal opportunities
  • strengthen the link between sustainability and incentive schemes by increasing the weight of their objectives in the MbO sheets
  • developing awareness on compliance issues through training initiatives on the Code of Ethics and Anti-corruption Policy
  • further improve the reporting of sustainability performance, including for the first time a section dedicated to the management of financial risks related to climate change, in line with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD), with the aim of providing the world of finance with all the information needed to properly assess the Group’s strategy for managing climate-related risks and opportunities
Economic added value (million euro) 1,853
Woman/Man average salary (all categories included) >90%
Sustainability MbO weight (%) 8%
Employees trained on Code of Ethics (% of entire population) 81%
Stakeholder engagement initiatives (number) + 600
Sustainability performance reporting alignment to TCDF recommendations