Listening ahead: Amplifon presents its first sustainability plan for an even more inclusive and sustainable future
AMPLIFON DEFINES THE 3-YEAR GOALS FOR ITS SUSTAINABILITY’S FOUR AREAS OF COMMITMENT: PRODUCT & SERVICE STEWARDSHIP, PEOPLE EMPOWERMENT, COMMUNITY IMPACT, ETHICAL BEHAVIOR
AMPLIFON IS FOCUSING ON AMBITIOUS GOALS AND MEASURABLE TARGETS CONSISTENT WITH THE BUSINESS STRATEGY AND IN LINE WITH THE SUSTAINABLE DEVELOPMENT GOALS (SDGs) OF THE UNITED NATIONS’ 2030 AGENDA
THE ANNUAL REPORT, THE CONSOLIDATED NON-FINANCIAL STATEMENT, THE REPORT ON CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE AND THE REMUNERATION REPORT ARE MADE AVAILABLE TO THE PUBLIC
Amplifon S.p.A. (MTA; Bloomberg ticker: AMP:IM), global leader in hearing solutions and services, announces the publication of its first Sustainability Plan included in the Consolidated Non-Financial Statement at 31 December 2020 drawn up pursuant to Legislative Decree no. 254/2016 (Sustainability Report 2020), and approved by the Board of Directors on 3rd March 2021.
Over the past few years Amplifon has undertaken an organic path towards sustainability which focuses on listening to its stakeholders: to customers and their needs, to all employees and collaborators, to the local communities and future generations, to the regulatory context and environment in which the company operates. It is this listening and the desire to actively contribute to a more inclusive and sustainable future that have shaped Listening Ahead, Amplifon’s first Sustainability Plan which will guide the Group toward the achievement of future sustainability goals.
ENRICO VITA, CEO
“Defining our first Sustainability Plan allows us to put the commitments laid out in our Sustainability Policy into practice, thanks to objectives that are consistent with our business strategy and in line with the United Nations’ 2030 Agenda for Sustainable Development. Well aware of the active role we play in society and the importance of listening to our stakeholders, we are proud to embark on a path that will lead us to pursue objectives that are ambitious and important to our growth, while also making a tangible contribution to a more inclusive and sustainable future.”
The Plan focuses on the four areas of commitment included in the Group’s Sustainability Policy: Product & Service Stewardship, People Empowerment, Community Impact, Ethical Behavior. The Sustainability Plan has ambitious objectives for each of the four areas which will be achieved by reaching specific targets in the three-year period 2021-2023.
These include the fight against the stigma attached to hearing care through awareness campaigns, the promotion of easier access to hearing services and technological innovation for the older generations thanks to free hearing tests and personalized digital solutions. The Sustainability Plan also focuses on the empowerment of all employees worldwide, through talents development in terms of competencies, professional growth, engagement, as well as on the promotion of equal opportunities. There are also initiatives promoting social inclusion among people in challenging and marginalized situations and awareness-raising initiatives to the youngest generations about prevention and hearing well-being, thanks to projects of great social value benefitting future generations and the community. Particular attention is paid to promoting responsible and sustainable practices along the value chain and reducing the environmental impact of the business, for instance, by reducing the use of disposable batteries thanks to rechargeable hearing devices.
To encourage listening and the dialogue with all stakeholders, as well as highlight the connection between Amplifon’s commitment to sustainability and global priorities, the Plan goals reflect six of the Sustainable Development Goals (SDGs) included in the United Nations’ 2030 Agenda. Looking, in fact, at its activities and its impact along the value chain, Amplifon believes the company can make the biggest contribution to the following SDGs: 3 – Good health and well-being; 5 – Gender equality; 7 – Affordable and clean energy; 8 – Good jobs and economic growth; 10 – Reduced inequalities; e 12 – Responsible consumption and production.
Lastly, in order to guarantee that the organization is fully aligned with the sustainability strategy, some of the Sustainability Plan’s goals are included as parameters for top management’s short-term variable compensation (MBO).
Amplifon’s Sustainability Plan was conceived based on a gradual approach and has a modular framework so that it can be integrated and enriched with new goals consistent with changes in the business strategy and Amplifon’s operating context.
“LISTENING AHEAD” - AMPLIFON’S SUSTAINABILITY PLAN AREAS OF COMMITMENT, GOALS A
PRODUCT & SERVICE STEWARDSHIP
- Break down the barriers and the stigma attached to hearing care, raising the awareness each year of more than 160 million people over the age of 55 about the importance of hearing care.
- Facilitate access to hearing care for as many people as possible offering free hearing tests and generating savings of more than €700 million for customers and prospects by 2023.
- Promote innovative and digital solutions bringing Amplifon Product Experience (APE)’s penetration to at least 85% in the addressable market of the different Countries by 2023.
People empowerment
- Strengthen skills of all employees globally by providing an average of at least 3 days of training a year to all personnel, both back-office and store level, with unlimited access to the e-learning training platform.
- Support the growth of talents within the succession pipeline so that at least 40% of the back-office personnel and at least 25% of the store personnel are considered for key roles in the company by 2023.
- Strengthen employees’ sense of belonging with a participation rate of at least 85% in the global engagement survey with at least 90% of respondents stating that they feel engaged.
- Promote equal opportunities at all levels of the business maintaining an appropriate level of gender representation in the global back-office population (always above 50%) and the global leadership population (always above 25%).
Community Impact
- Promote social inclusion supporting the ramp-up of the Amplifon Foundation with a contribution of approximately €3 million through 2023.
- Promote greater awareness about responsible listening and hearing care prevention among the younger generation, expanding the “Listen Responsibly” program in new countries with the involvement of a total of at least 40,000 students and 1,600 schools by 2023.
- Increase awareness in communities about the impact of noise pollution on hearing by mapping at least 20,000 noise meter readings made by 6,000 people using the noise tracker of the “Listen Responsibly” app by 2023
Ethical Behavior
- Integrate sustainability criteria into the responsible management of the supply chain by defining a global supplier evaluation framework based on ESG risks by 2021.
- Limit the environmental impact of the business activities by increasing the use of certified renewable electricity to at least 70% of the electricity consumed by offices and direct shops, avoiding the related CO2e emissions.
- Reduce the use of disposable batteries promoting the use of rechargeable hearing aids, eliminating the use of a total of more than 200 million batteries by 2023.
For full disclosure of Amplifon’s Sustainability Plan, including the targets, the KPI and the current performance relative to each goal, refer to the 2020 Sustainability Report on the Sustainability section of the corporate website (https://corporate.amplifon.com/en/sustainability).
Please note that the following documents were also made available to the public:
- 2020 Annual Report, including the draft Financial Statements and Consolidated Financial Statements at 31st December 2020, with the relevant Report on Operations, as well as the Reports prepared of the Independent Auditors and of the Board of Statutory Auditors;
- Consolidated Non-Financial Statement at 31st December 2020;
- Report on Corporate Governance and Ownership Structure at 31st December 2020;
- 2021 Remuneration Report.
The documents listed above are available at the registered offices, as well as on the Company’s corporate website https://corporate.amplifon.com and at the authorized storage system “eMarket STORAGE” (www.emarketstorage.com).
