Ferrari
ESRS disclosure: MDR-P_02
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- Provide a detailed account of the policies implemented to address material sustainability matters. This disclosure must encompass a description of the policy's scope or its exclusions, specifying the activities, upstream and/or downstream value chain, geographical areas, and any relevant stakeholder groups affected.
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Question Id: MDR-P_02
Ferrari’s value chain involves a diverse range of people across various sectors and geographical locations. Alongside our own workforce, workers within the value chain also play a fundamental role. Upstream workers are part of the supply chain that provides raw materials, components and services to Ferrari. They include metal and mineral extraction workers, involved in the extraction and refining of metals used in the production process, and workers engaged in the production of components and materials. In particular, regarding supply chain workers engaged in the mining and processing of tantalum, tin, tungsten and gold (collectively, ‘3TG’ or ‘Conflict Minerals’), Ferrari maps its supply chain to gain awareness of the sourcing status of 3TG materials from potential conflict zones to avoid knowingly using conflict minerals that support or fund inhumane treatment, including human trafficking, slavery, forced labor, child labor, torture and war crimes. At the end of this monitoring, Ferrari prepares a Final Report to be submitted to the SEC. In cases where high-risk suppliers are identified, the Compliance Department and the Management of the Purchasing Department determine the intervention strategy to be adopted. At the end of each year, the results of the above-mentioned campaign are shared with the relevant buyers to ensure the implementation of any actions defined by Compliance and Management. Downstream workers include mostly dealers responsible for selling Ferrari cars and logistics workers that manage the transportation and delivery of vehicles and parts. In addition, workers operating on our sites that are not part of our own workforce (i.e. temporary workers) include consultants, and employees of cleaning and temporary building maintenance companies. Currently, we do not have detailed information on the presence of value chain workers who could be particularly vulnerable to the negative impacts identified through the Double materiality analysis. Furthermore, we have a few workers involved in the joint venture with which we collaborate.
Report Date: 4Q2024Relevance: 60%