Ferrari
ESRS disclosure: ESRS S2 \ DR S2-1 \ Paragraph 17 c
Tags Tree
- Provide a detailed description of your organization's human rights policy commitments concerning value chain workers. Include an explanation of the processes and mechanisms in place to ensure compliance with the UN Guiding Principles on Business and Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, or the OECD Guidelines for Multinational Enterprises. Focus specifically on the material aspects and the general approach to implementing measures that provide and/or enable remedies for human rights impacts.
-
Question Id: S2-1_04
Ferrari encourages the adoption and sharing of sustainable practices among business partners, suppliers, and dealers. All suppliers must respect the Ferrari Code of Conduct, which includes a set of values recognized, adhered to, and promoted by the company. 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. The Human Rights practice sets out key principles such as the prohibition of child labor, compulsory labor and forced labor, trafficking and serfdom, attention to a healthy and safe working environment, rejection of any form of abuse, harassment and discrimination, zero tolerance concerning corruption and protection of the rights of local communities. The Practice is applicable to the entire Ferrari Group and addresses all workers who work for or on behalf of Ferrari, such as suppliers and business partners across its upstream and downstream value chain.
Report Date: 4Q2024Relevance: 70%
- Provide a detailed description of the specific channels established for value chain workers to directly communicate their concerns or needs to the undertaking, and outline the processes in place to address these issues. Indicate whether these channels are internally developed by the undertaking or facilitated through third-party mechanisms.
-
Question Id: S2-3_02
Regarding the ethics violations reporting channels made available by Ferrari, as specified in the "GI Business Conduct—Whistleblowing" paragraph, our official Ethics Helpline also allows workers in the value chain to report violations of the Code of Conduct. However, there is no dedicated activity to assess whether value chain workers are aware of this channel even if it is publicly available on Ferrari corporate website. Currently, we do not have formalized processes to systematically address potential negative impacts that could affect workers in our supply chain. However, in daily practice, Ferrari is committed to taking proactive measures when it becomes aware of a possible involvement in situations of human rights violations associated with workers in our supply chain. In such cases, our Company proceeds with a direct approach, contacting the supplier involved to initiate a constructive dialogue. This exchange is aimed at obtaining clarification and detailed information on the specific circumstances. This not only allows us to better understand the situation, but also to work together with the supplier to find appropriate solutions and ensure decent working conditions for all workers.
Report Date: 4Q2024Relevance: 65%