Each year, the Group updates the analysis to identify social, environmental and economic topics that are material (materiality analysis) in order to recognise longterm value creation opportunities. In 2020, for the first time, the materiality matrix was developed using a bottom-up approach (and therefore starting with an analysis of the information gathered by subsidiaries) in three steps:

The methodology adpopted for aggregating the data gathered by the companies involved: the company’s relevanceand size, the number of external stakeholders involved and the organisational weight of engaged management.

The priority of topics was mapped based on two dimensions: strategic relevance for the Group (horizontal axis) and perceived relevance for stakeholders (vertical axis). The topics placed in the“very relevant” and “priority” areas are described below:

Material topics VS SDGs (1)

(1) Furthermore, in its daily operations, the Group also contributes to the achievement of other SDGs not associated with material topics.