November 2009 - Eni is confirmed second in the Accountability Rating Italy – 2009
Accountability Rating Italy is a ranking drawn up by SCS Consulting using the methodology of AccountAbility, the international non-profit think-tank whose mission is to promote accountability innovations for sustainable development . Accountability can be defined as “a company’s ability to explain and justify its actions, and to take responsibility for the consequences of those actions‘. The Accountability Rating is a tool for measuring:
- the extent to which companies have built responsible practices into the way they do business
- their accountability to, and engagement with, their stakeholders
- companies’ actual impacts on the marketplace, society and environment in which they operate.
The Accountability Rating evaluates the 40 companies of the FTSE MIB index on the basis of public domain information, in four key areas: Strategic Intent, Governance and Management, Stakeholder Engagement and Operational Performance.
- In the domain of Strategic Intent, methodology aims at giving evidence that performance and extra- financial objectives are integrated into the company strategy;
- In the domain of Governance and Management, methodology aims at verifying, on the basis - for example - of the Corporate Governance Reporting and of the Governance section of the internet website, if and to what extent stakeholders expectations are considered by the company top management and in the strategic decision making process, and how the company manages its impacts at the different operational levels;
- In the domain of Stakeholder Engagement, methodology aims at giving evidence of the company’s will to listen to its stakeholders, to reply to their requests and to supply reliable information;
- the domain of Operational Performance evaluates the level of clarity of the company’s extra – financial reporting and the public opinion perception of the company’s activities and of its Sustainability performance.
According to the AA1000 framework (the series includes the AA1000 Assurance Standard and the AA1000 Stakeholder Engagement Standard), an “accountable‘ company is:
- transparent:open and honest about its actions, the reasons behind them and their impact on people and the environment
- responsive:responsive to the concerns of people and organisations (stakeholders) who have the ability to influence, or may be affected by, the company’s business
- compliant:adherent to relevant voluntary standards and mandatory regulations.
Also in the Accountability Rating Italy - 2008 , Eni had ranked second.