Ferrari
ESRS disclosure: ESRS S2 \ DR S2-1 \ Paragraph AR 15
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 detailing whether and how direct engagement with workers in the value chain, their legitimate representatives, or credible proxies with insight into their situation, was conducted? Additionally, when disclosing the embedding of external-facing policies related to value chain workers, does the undertaking consider internal policies of responsible sourcing and alignment with other relevant policies, such as those addressing forced labour? Furthermore, does the summary of supplier codes of conduct indicate whether they include provisions addressing worker safety, precarious work, human trafficking, forced labour, or child labour, and confirm that these provisions are fully in line with applicable ILO standards?
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Question Id: S2-1_07
Currently, Ferrari has not defined specific targets for workers within the value chain. To guarantee a high standard of ethics and behavior, all third parties that wish to collaborate with Ferrari must sign the Statement of Commitment, an annex of their contract, to comply with the Code of Conduct and the Organizational Model. The Code of Conduct includes provisions addressing human rights, including the prohibition of child labor, compulsory labor and forced labor, trafficking and serfdom.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed description of the methods employed to track and assess the effectiveness of actions and initiatives aimed at delivering intended outcomes for value chain workers, as per Disclosure Requirement S2-4 concerning material impacts, risk management, and opportunity pursuit related to value chain workers.
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Question Id: S2-4_04
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: 65%