Ferrari
ESRS disclosure
Tags Tree
- Does the undertaking disclose the process for setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities, specifically in relation to value chain workers? Furthermore, does the undertaking provide information on whether and how it engages directly with workers in the value chain, their legitimate representatives, or credible proxies with insight into their situation? Additionally, considering material negative impacts affecting value chain workers that may be linked to entities or operations outside the undertaking's direct control, does the undertaking disclose whether and how it seeks to use leverage in its business relationships to manage these impacts? This may involve the use of commercial leverage, such as enforcing contractual requirements or implementing incentives, other forms of leverage within the relationship, such as providing training or capacity-building on workers’ rights, or collaborative leverage with peers or other actors, such as initiatives aimed at responsible recruitment or ensuring workers receive an adequate wage.
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Question Id: S2-4_13
Currently, we have not defined specific targets for workers within our value chain. To guarantee a high standard of ethics and behavior, we require all third parties that wish to collaborate with us to sign the Statement of Commitment, an annex of our contract, to comply with the Code of Conduct and the Organizational Model established by Legislative Decree no. 231/2001. For more information on this document please refer to paragraph 'GI—Business Conduct—Responsible purchasing practices'. Furthermore, Ferrari uses specific tools to monitor and stay informed about its suppliers. These tools allow for a thorough screening of all available online news regarding environmental, social and governance (ESG) issues. This process not only ensures greater transparency, but also enables Ferrari to make more informed decisions, thus promoting the social responsibility and ethical commitment of its supplier network.
Report Date: 4Q2024Relevance: 45%
- Provide a detailed account of the process your organization employs for setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specify whether and how your organization has engaged directly with workers in the value chain, their legitimate representatives, or credible proxies with insight into their situation. Additionally, when disclosing participation in an industry or multi-stakeholder initiative as part of actions to address material negative impacts, elucidate how the initiative and your organization's involvement aim to address the material impact concerned. Include any relevant targets set by the initiative and the progress made towards achieving them, as per Disclosure Requirements S2-4 and S2-5.
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Question Id: S2-4_14
Currently, we have not defined specific targets for workers within our value chain. To guarantee a high standard of ethics and behavior, we require all third parties that wish to collaborate with us to sign the Statement of Commitment, an annex of our contract, to comply with the Code of Conduct and the Organizational Model established by Legislative Decree no. 231/2001. For more information on this document please refer to paragraph 'GI—Business Conduct—Responsible purchasing practices'. Furthermore, Ferrari uses specific tools to monitor and stay informed about its suppliers. These tools allow for a thorough screening of all available online news regarding environmental, social and governance (ESG) issues. This process not only ensures greater transparency, but also enables Ferrari to make more informed decisions, thus promoting the social responsibility and ethical commitment of its supplier network.
Report Date: 4Q2024Relevance: 40%
- Provide a detailed account of the process by which your organization establishes targets related to managing material negative impacts, advancing positive impacts, and addressing material risks and opportunities. Specifically, disclose whether and how your organization has engaged directly with workers within the value chain, their legitimate representatives, or credible proxies who possess insight into their circumstances. Additionally, describe the role these value chain workers, representatives, or proxies play in decision-making concerning the design and implementation of initiatives or processes aimed at addressing their needs, and evaluate the progress and effectiveness of such initiatives or processes.
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Question Id: S2-4_15
Currently, we have not defined specific targets for workers within our value chain. To guarantee a high standard of ethics and behavior, we require all third parties that wish to collaborate with us to sign the Statement of Commitment, an annex of our contract, to comply with the Code of Conduct and the Organizational Model established by Legislative Decree no. 231/2001. For more information on this document please refer to paragraph 'GI—Business Conduct—Responsible purchasing practices'. Furthermore, Ferrari uses specific tools to monitor and stay informed about its suppliers. These tools allow for a thorough screening of all available online news regarding environmental, social and governance (ESG) issues. This process not only ensures greater transparency, but also enables Ferrari to make more informed decisions, thus promoting the social responsibility and ethical commitment of its supplier network.
Report Date: 4Q2024Relevance: 40%
- Provide detailed information regarding the intended or achieved positive outcomes of initiatives or processes for value chain workers. This should include the process for setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specify whether and how the undertaking engaged directly with workers in the value chain, their legitimate representatives, or credible proxies with insight into their situation. Additionally, describe the actions taken on material impacts on value chain workers, the approaches to managing material risks and pursuing material opportunities related to these workers, and the effectiveness of those actions. Include any initiatives or processes based on the needs of affected workers and the progress in implementing such initiatives or processes.
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Question Id: S2-4_16
We are in the process of structuring an ESG Due Diligence activity on our suppliers; however, we have not yet formalized a specific action plan to address the material impacts, risks and opportunities on all workers in the value chain. This implies that we have yet to implement systematic measures to identify, assess and mitigate risks that may jeopardize the well-being of workers involved in the different stages of our value chain. Furthermore, we have not developed concrete strategies to exploit opportunities that may arise in relation to the management of labor rights and working conditions within the value chain. However, we recognize the importance of taking a proactive approach in this area and are actively working to structure our due diligence process with the aim of developing a strategic framework for action. The Drive Sustainability questionnaire and the Compliance Evaluation are preliminary activities for a more structured ESG Due Diligence activity also aimed at preventing the above-mentioned potential negative impacts on workers along the value chain. Before entering in any form of commercial collaboration with a supplier, we undertake a thorough assessment through the Compliance Evaluation process, which allows us to analyze the supplier from multiple angles, ensuring that it meets high ethical and legal standards. The main areas of analysis include anti-corruption, trade sanctions, money laundering, conflict of interest, ethics (including human rights) and reputation. On the other hand, the Drive Sustainability Questionnaire is mainly intended for those with whom a contract is already in place. Through the latter we request suppliers to provide detailed information regarding their social and environmental practices. In this questionnaire, we request general information regarding their code of ethics, implemented human rights policies and the existence of complaint mechanisms or formal complaint handling procedures. In addition, we ask for specific information on workers’ health and safety to ensure that the highest standards are met. In addition to social aspects, the questionnaire also includes questions on environmental issues. In particular, we examine the responsible sourcing of raw materials and the sustainable management of the entire value chain. This holistic approach allows us not only to assess the current practices of our suppliers, but also to promote a collective commitment to sustainability and social responsibility within our supply chain.
Report Date: 4Q2024Relevance: 60%
- Does the undertaking disclose any initiatives or processes specifically aimed at delivering positive impacts for value chain workers that are also designed to support the achievement of one or more UN Sustainable Development Goals (SDGs)? If so, please detail the process for setting these targets, including whether and how the undertaking engaged directly with workers in the value chain, their legitimate representatives, or credible proxies with insight into their situation. Additionally, specify any actions taken to advance UN SDG 8, such as capacity-building for smallholders in the supply chain or training programs to increase the proportion of women in delivery roles within the downstream value chain.
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Question Id: S2-4_17
We encourage the adoption and sharing of sustainable practices among our business partners, suppliers and dealers. All suppliers must respect the Ferrari Code of Conduct, which includes the set of values recognized, adhered to and promoted by our Company. In line with our impacts, opportunities and risks, the Code of Conduct was updated in 2023 to include specific guidelines relating to the respect of human rights, environmental protection, ethical and integrity principles, with consideration also given to the value chain.
Report Date: 4Q2024Relevance: 50%
- Provide a detailed description of the internal functions involved in managing impacts within your organization. Specify the types of actions these functions undertake to address negative impacts and advance positive impacts. Include information on the process for setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Indicate whether and how your organization engaged directly with workers in the value chain, their legitimate representatives, or credible proxies with insight into their situation. Additionally, outline the resources allocated to the management of material impacts and evaluate the effectiveness of these actions.
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Question Id: S2-4_18
We are in the process of structuring an ESG Due Diligence activity on our suppliers; however, we have not yet formalized a specific action plan to address the material impacts, risks and opportunities on all workers in the value chain. This implies that we have yet to implement systematic measures to identify, assess and mitigate risks that may jeopardize the well-being of workers involved in the different stages of our value chain. Furthermore, we have not developed concrete strategies to exploit opportunities that may arise in relation to the management of labor rights and working conditions within the value chain. However, we recognize the importance of taking a proactive approach in this area and are actively working to structure our due diligence process with the aim of developing a strategic framework for action. The Drive Sustainability questionnaire and the Compliance Evaluation are preliminary activities for a more structured ESG Due Diligence activity also aimed at preventing the above-mentioned potential negative impacts on workers along the value chain. Before entering in any form of commercial collaboration with a supplier, we undertake a thorough assessment through the Compliance Evaluation process, which allows us to analyze the supplier from multiple angles, ensuring that it meets high ethical and legal standards. The main areas of analysis include anti-corruption, trade sanctions, money laundering, conflict of interest, ethics (including human rights) and reputation. On the other hand, the Drive Sustainability Questionnaire is mainly intended for those with whom a contract is already in place. Through the latter we request suppliers to provide detailed information regarding their social and environmental practices. In this questionnaire, we request general information regarding their code of ethics, implemented human rights policies and the existence of complaint mechanisms or formal complaint handling procedures. In addition, we ask for specific information on workers’ health and safety to ensure that the highest standards are met. In addition to social aspects, the questionnaire also includes questions on environmental issues. In particular, we examine the responsible sourcing of raw materials and the sustainable management of the entire value chain. This holistic approach allows us not only to assess the current practices of our suppliers, but also to promote a collective commitment to sustainability and social responsibility within our supply chain.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of the process your organization employs in establishing targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specifically, disclose whether and how your organization has engaged directly with workers within the value chain, their legitimate representatives, or credible proxies with insight into their situation during the target-setting process.
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Question Id: S2-5_01
Our current practice does not entail the direct involvement of value chain workers or their representatives in the assessment of impacts, both actual and potential, that might affect them. Instead, we focus on the interaction and dialogue with the representatives of the companies for which these workers work.
Report Date: 4Q2024Relevance: 50%
- Provide a detailed account of the process employed by your organization in setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Specifically, disclose whether and how your organization engaged directly with workers within the value chain, their legitimate representatives, or credible proxies who possess insight into their situation, in tracking your organization's performance against these targets.
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Question Id: S2-5_02
Our current practice does not entail the direct involvement of value chain workers or their representatives in the assessment of impacts, both actual and potential, that might affect them. Instead, we focus on the interaction and dialogue with the representatives of the companies for which these workers work.
Report Date: 4Q2024Relevance: 50%
- Has the undertaking disclosed the process for setting targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities, specifically detailing whether and how it engaged directly with workers in the value chain, their legitimate representatives, or credible proxies to identify any lessons or improvements resulting from the undertaking's performance?
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Question Id: S2-5_03
Our current practice does not entail the direct involvement of value chain workers or their representatives in the assessment of impacts, both actual and potential, that might affect them. Instead, we focus on the interaction and dialogue with the representatives of the companies for which these workers work.
Report Date: 4Q2024Relevance: 50%
- What are the intended outcomes that your organization aims to achieve in the lives of value chain workers, as part of the targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities? Please provide a detailed account of the process for setting these targets, including any direct engagement with value chain workers, their legitimate representatives, or credible proxies with insight into their situation.
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Question Id: S2-5_04
Our current practice does not entail the direct involvement of value chain workers or their representatives in the assessment of impacts, both actual and potential, that might affect them. Instead, we focus on the interaction and dialogue with the representatives of the companies for which these workers work.
Report Date: 4Q2024Relevance: 40%