Ferrari
ESRS disclosure
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- Provide a detailed account of the actions your organization has taken, plans to take, or is currently undertaking to prevent or mitigate material negative impacts on affected communities. Include approaches to managing material risks and pursuing material opportunities related to these communities, as well as the effectiveness of these actions.
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Question Id: S3-4_01
Ferrari is committed to supporting the development of local communities through collaborations with local universities and schools, and thanks to the industry network in the Emilia-Romagna region. They focus on promoting the education of young talents and developing engineers with a specific academic background focused on emerging technologies in the automotive industry. Ferrari supports community education through general and technical programs and impacts the community by providing job opportunities for local students and financial stability for employees. They also aim to improve reputation and acquisition of new skills/expertise through stronger relationships with local communities and wealth generation. Ferrari has no negative impacts on affected communities with particular characteristics and is dedicated to respecting the rights of local communities and contributing positively to their realization. They have a whistleblowing procedure to protect against retaliation and have not communicated the Ethics Helpline to affected communities, although it is publicly reachable.
Report Date: 4Q2024Relevance: 65%
- Has the undertaking taken action to provide or enable a remedy concerning an actual material impact on affected communities? If so, describe the actions taken and their effectiveness.
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Question Id: S3-4_02
Ferrari has a whistleblowing procedure that protects against retaliation, allowing affected communities to raise concerns or needs through the Ethics Helpline available on their corporate website. However, the Ethics Helpline has not been officially communicated to the affected communities even if it is publicly reachable.
Report Date: 4Q2024Relevance: 60%
- What additional actions or initiatives does your company have in place with the primary purpose of delivering positive impacts for affected communities, in accordance with Disclosure Requirement S3-4, which addresses taking action on material impacts, managing material risks, and pursuing material opportunities related to affected communities?
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Question Id: S3-4_03
Ferrari aims to promote education within the local community by establishing long-term relationships with technical schools, participating in orientation committees, and implementing training of trainers (TOT) activities. They donate Ferrari equipment and participate in public tenders to finance technical classrooms and labs in collaboration with local schools. Ferrari is also a partner of the Motorvehicle University of Emilia-Romagna (MUNER), advancing educational initiatives for inclusivity in STEM fields and motorsports. They conduct surveys, focus groups, and interviews with students to gain insight and understand challenges and needs. The committee explores reasons behind gaps and lack of opportunities, particularly for students pursuing STEM and motorsports careers.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed account of the methods employed to track and assess the effectiveness of actions and initiatives aimed at delivering intended outcomes for affected communities, in accordance with Disclosure Requirement S3-4 concerning material impacts, risk management, and opportunity pursuit related to affected communities.
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Question Id: S3-4_04
Every initiative promoted by Ferrari is constantly monitored and measured with regard to its effects on the affected communities through qualitative indicators. The effectiveness of each action is reported, although specific targets have not been set.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed description of the processes your organization employs to determine necessary and appropriate actions in response to specific actual or potential material negative impacts on affected communities.
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Question Id: S3-4_05
Ferrari has a whistleblowing procedure that allows affected communities to raise concerns or needs through the Ethics Helpline available on their corporate website. However, the Ethics Helpline has not been officially communicated to the affected communities even if it is publicly reachable.
Report Date: 4Q2024Relevance: 60%
- Provide a comprehensive description of your approach to addressing specific material negative impacts on affected communities. Include details on actions related to your practices in land acquisition, planning, construction, operation, or closure. Additionally, indicate whether broader industry collaboration or joint efforts with other relevant parties are necessary.
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Question Id: S3-4_06
Ferrari is dedicated to respecting the rights of local communities and contributing positively to their realization, believing that their cultural and natural heritage, as well as traditions and customs, are key elements for the success of its business and for the whole society. Their support to a range of associations and local authorities is evidence of their commitment in this area.
Report Date: 4Q2024Relevance: 45%
- Provide a detailed description of the measures your organization has implemented to ensure that processes are in place to provide or enable remedies in the event of material negative impacts on affected communities. Include an evaluation of the availability and effectiveness of these processes in their implementation and outcomes.
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Question Id: S3-4_07
Ferrari has a whistleblowing procedure that protects against retaliation, allowing affected communities to raise concerns or needs through the Ethics Helpline available on their corporate website. However, the Ethics Helpline has not been officially communicated to the affected communities even if it is publicly reachable.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of the actions currently planned or being implemented to mitigate material risks associated with your company's impacts and dependencies on affected communities. Additionally, elucidate the methods employed to monitor and evaluate the effectiveness of these actions in practice.
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Question Id: S3-4_08
Ferrari is strongly dedicated to actions and initiatives that have a positive impact on the affected communities, even though no specific targets have been set. Every initiative promoted is constantly monitored and measured with regard to its effects on the affected communities through qualitative indicators. The effectiveness of each action is reported.
Report Date: 4Q2024Relevance: 65%
- What actions are currently planned or in progress to pursue material opportunities concerning affected communities?
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Question Id: S3-4_09
Ferrari aims to promote education within the local community by establishing long-term relationships with technical schools, participating in orientation committees, and implementing training of trainers (TOT) activities. They donate Ferrari equipment and participate in public tenders to finance technical classrooms and labs in collaboration with local schools. Ferrari is also a partner of the Motorvehicle University of Emilia-Romagna (MUNER), advancing educational initiatives for inclusivity in STEM fields and motorsports. They conduct surveys, focus groups, and interviews with students to gain insight and understand challenges and needs. The committee explores reasons behind gaps and lack of opportunities, particularly for students pursuing STEM and motorsports careers.
Report Date: 4Q2024Relevance: 85%
- Does the undertaking disclose whether and how it ensures that its own practices do not cause or contribute to material negative impacts on affected communities? This includes detailing actions taken to avoid such impacts, particularly in areas such as planning, land acquisition, exploitation, finance, extraction or production of raw materials, use of natural resources, and management of environmental impacts. Additionally, does the disclosure address the approach taken when tensions arise between preventing or mitigating material negative impacts and other business pressures?
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Question Id: S3-4_10
Ferrari is firmly dedicated to respecting the rights of local communities and contributing positively to their realization, believing that their cultural and natural heritage, as well as traditions and customs, are key elements for the success of its business and for the whole society. Their support to a range of associations and local authorities is evidence of their commitment in this area.
Report Date: 4Q2024Relevance: 40%