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Finmeccanica 2008 Environmental Report, Code of Ethics and 2009 Web Pages

For More Information
To learn more about how we score, what topics are considered in the evaluation, and what score we assigned in each topic, click here: View the completed PSI scoring sheet

Analyst Comments
Finmeccanica (FNC) has a detailed environmental report that stresses its environmental sustainability goals, management, policies and data about water use, energy use, emissions and waste. Since top management is promoting the use of Environmental Management Systems, FNC is currently implementing programs; to date, 42 of 114 FNC sites worldwide have received ISO 14001 certification. In its report, FNC clearly states its environmental vision, of searching for "the optimal balance between economic priorities and environmental protection." However, FNC fails to address broad environmental protection concerns such as fostering biodiversity, habitat conservation, and impacting climate change. The report focuses on more measurable and material concerns such as energy consumption and water use, which were reduced by 10% and 8% respectfully from 2006 to 2007. FNC is also currently using 15% "green energy" and plans to continue its energy efficiency plan. It does describe such economic priorities as environmental investments, which totaled €7.5 million for 100 separate energy interventions and €12.8 million overall of environmentally focused investments. FNC is planning on implementing a system of environmental accounting and some indicators are already being assessed. The report also describes FNC’s program of employee environmental training which has been expanding and in 2007 provided 42,116 hours of training. In contrast to its rather extensive environmental report, FNC provides little social reporting on its website, except for a code of ethics. But FNC intends to have "a conspicuous presence in society [for the] protection of beauty and sometimes its discovery." Resulting cultural events range from supporting a conference on contemporary scientific research and a mathematics festival to sponsoring an exhibition of Renoir paintings. There is also an extensive listing of other charity activities including creation of an anti-AIDS center, a benefit concert, and direct disaster relief. Analyzed by Juliet Marie Archer, and posted to the web on 4/10/2009.

Company Description
Italy's largest engineering and aerospace/defense group, Finmeccanica makes helicopters, military aircraft, defense systems, satellites, and much more. The company operates through some 100 subsidiaries in Italy and elsewhere. While the aerospace and defense businesses account for about 80% of sales, all is not fight or flight. Finmeccanica's Ansaldo Energia subsidiary is an energy producer and also builds generation and transmission components, boilers, turbines, cogeneration plants, desalination plants, and nuclear power plants. Through three subsidiaries, the company operates in the transportation sector, producing buses, railway vehicles, streetcars, and trolleys, as well as signaling and control systems. Finmeccanica gets about two-thirds of its sales in Europe, although business is increasing in North America and other regions around the world. Source: http://premium.hoovers.com/subscribe/co/overview.xhtml?ID=ffffstsjsctxxjscjh

Overall Scores

The letter grades reported below are based on all reports irrespective of year of the same sector in the database and may be slightly different from the grades in the individual sector reports, which are based on scores of companies in just that report.

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