Materiality Analysis

Our 2017 Non-Financial Reporting was drawn up in compliance with the "G4 Sustainability Reporting Guidelines" published in by the GRI (Global Reporting Initiative) in 2013 according to the «Core» option, and includes the information required by the GRI-G4 "Electric Utilities Sector Disclosures", specifically for companies in the utilities sector. The list of GRI-G4 indicators is available in the paragraph "GRI G4 content index" of this document.

In drawing up the NFR, reference was also made to the European Commission's "Guidelines for the communication of non-financial information".

The need to respond to legal requirements and the awareness that the document would receive greater attention by financial analysts, required a new assessment of the materiality matrix used until the 2016 Sustainability Report: we focused on issues of greater importance for "Shareholders" and "Financial Community" stakeholders and we integrated the "relevant topics" with the minimum requirements referred to in Decree 254.

This assessment allowed us to develop a new materiality matrix containing the relevant topics reported in this document, and to assess them according to the principles set out in the "G4 Sustainability Reporting Guidelines": stakeholder involvement, context of operations, materiality and completeness of data.

In this respect, the NFR was drawn up to the extent necessary to ensure the understanding of the Group's business, its performance, its results and of the impact it generates, covering the relevant topics referred to in art. 3 of Decree 254 (concerning the fight against active and passive corruption, the environment, personnel management, social aspects and the respect for human rights).