Stakeholder and their involvement
Stakeholders are the various parties that play a key role in making it possible to achieve the company’s objectives and represent the main recipients, direct or indirect, of the value created, but also the impacts generated, by the assets managed, according to a principle of mutual influence. For this reason, for example, the natural environmental and the community are also considered stakeholders.
As such, Acea is committed to developing trusting relationships, adopting an inclusive and proactive approach to stakeholders aimed at enhancing the outcomes of dialogue and debate, in line with the commitments expressed in the Management and Sustainability Systems Policy, the principles enshrined in the Code of Ethics, updated at the end of 2022, and the Principles and Values of Stakeholder Engagement.
In the stakeholder engagement process, the identification phase identifies the subjects involved in the company's activities, assessing the level of mutual influence at both qualitative and quantitative levels. The analysis phase examines the interactions between the company and the stakeholders and between different categories of stakeholders in order to develop opportunities for dialogue (engagement) and shared responsibilities. Finally, the management phase establishes the responses to the identified needs of stakeholders or the company itself, in order to pursue the achievement of the company's objectives while also meeting stakeholder expectations.
Chart no. 18 – Stakeholders and their involvement

LO STAKEHOLDER ENGAGEMENT NEL GRUPPO ACEA
By managing a responsible and long-lasting relationship with stakeholders, based on trust, dialogue and transparency in an ever-changing context, the Group is able to improve decision-making processes by directing its commitment to the most relevant issues, while building a shared path that creates value over time for the community and the market, with greater prospects for stability.
In this regard, in 2022 the Acea Stakeholder Engagement Unit conducted various measures to incorporate stakeholder engagement activities into the Group's strategies, processes and business. In particular, improvements to the tools, methods and stakeholder engagement initiatives and projects were made to further support the Group's Corporate Departments/Functions and Companies, which responded with growing interest and engagement.
The awareness-raising and analysis campaign launched in 2021 continued: meetings with sector experts were held with the aim of promoting the culture, skills and tools of stakeholder engagement in the various business contexts and increasing awareness of the strategic role of stakeholder engagement. Workshops were also held to acquire theoretical knowledge and develop applied methodologies through the adoption of operational tools aimed at stakeholder identification, mapping and weighting and the design and implementation of engagement methods.
The stakeholder engagement section of the intranet promoted greater awareness within the Group and allowed for the systematised sharing of processes, tools and materials. In particular, in December 2022 the first video pill of the stakeholder engagement awareness-raising module was posted, aimed at promoting methods for using stakeholder engagement tools and stimulating and strengthening the proactive involvement of Acea Group personnel. Other video pills will be posted in 2023.
The 2022 Report on the Group's Stakeholder Engagement Performance is currently being finalised. Stakeholder Engagement activities are managed in line with the international standards of reference (AA1000 Stakeholder Engagement Standard and Global Reporting Initiative).
Chart no. 19 – Stakeholder mapping

The boxes below illustrate the most significant interactions between Acea and the main categories of stakeholders in 2022.
Material topics and impacts perceived by stakeholder
During the process to develop the 2022 materiality analysis (see Communicating Sustainability: Methodological Note for more details), stakeholders were involved in multi-stakeholder focus groups, and particular emphasis was given to the identification of the main perceived impacts regarding the topics of the Acea Group considered to be of “high” or “medium” significance. The results of the engagement activity, specifically the most significant areas of impact for stakeholders and the main positive and negative impacts, both actual or potential, are summarised in Table no. 15.
Table no. 15 – Main impacts perceived by stakeholders, associated with 2022 material issues with high and medium significance
MATERIAL TOPICS | most significant areas of impact for stakeholders | main (actual/potential) ![]() ![]() |
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SUSTAINABLE AND CIRCULAR WATER MANAGEMENT |
Optimisation of infrastructure and networks to increase resilience and guarantee water supply |
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evolution towards a circular water resource management model (including water reuse, sewage sludge recovery and reuse, etc.) |
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ETHICS AND INTEGRITY IN BUSINESS CONDUCT |
Compliance of company performance with industry standards |
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promotion of ethical values, including combating unlawful conduct and corruption, throughout the value chain |
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PROTECTION OF ECOSYSTEMS AND BIODIVERSITY |
Reduction of pressure on ecosystems (e.g. reduced emissions, efficient use of natural resources, reduction of land use, etc.) to protect ecosystem health and preserve natural cycles |
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interventions aimed at protecting the ecosystems in areas in which the company operates (protection of springs, natural heritage, protected areas and animal and plant species, etc.) |
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CLIMATE CHANGE AND ENERGY TRANSITION | Adoption of energy models with a low environmental impact (generation from renewable sources, energy eciency, cogeneration, green energy consumption, etc.) |
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development of value-added services related to energy transition |
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TECHNOLOGICAL INNOVATION AND DIGITAL TRANSFORMATION |
Development of innovative and environmentally sustainable services and products in response to the changing needs of the environment and people |
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creation of an high-quality, open and interconnected innovation and research ecosystem |
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MANAGEMENT AND TREATMENT OF WASTE FOR A CIRCULAR ECONOMY |
Management and reduction of waste produced by communities through its energy and material recovery (e.g. compost) |
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strengthening of secondary raw material recovery chains from waste materials (plastic, paper, etc.) |
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OCCUPATIONAL HEALTH AND SAFETY |
Building safe and secure working environments, starting with accident prevention |
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promotion of a culture of workplace safety along the supply chain |
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DIALOGUE AND ENGAGEMENT WITH STAKEHOLDERS AND TERRITORY |
Responses to multi-stakeholder requirements, with shared value projects and co-design initiatives |
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specific identification and consideration of minorities and vulnerable stakeholders |
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SKILLS DEVELOPMENT AND EVOLUTION OF THE WORKING ENVIRONMENT |
Promotion of meritocratic working contexts able to optimise and increase skills and abilities |
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adoption of new work models capable |
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SUSTAINABILITY IN INFRASTRUCTURE DESIGN, CONSTRUCTION AND MANAGEMENT |
Creation of high-quality and environmentally and socially sustainable infrastructures and projects |
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adoption of a design approach that integrates the genuine needs of stakeholders and promotes the acceptance of projects and infrastructures by the community |
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CUSTOMER FOCUS |
Availability of easily accessible and customised customer care services, also thanks to the increasing use of digital channels |
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availability of services in line with emerging customer needs and lifestyles |
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SUSTAINABILITY AND CIRCULARITY ALONG THE SUPPLY CHAIN |
Implementation of procurement processes that prioritise the use of products and services that combine quality, eco-compatibility (recycled, reusable, etc.) and social responsibility |
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increasing supply chain certification, also |
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COMPANY WELLBEING, DIVERSITY AND INCLUSION |
Creation of inclusive and diverse models and workplaces that respect people |
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promotion of a workplace culture oriented towards preserving the well-being of people within the organisation and respecting their private lives (welfare, work/life balance initiatives, etc.) |
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GOVERNANCE FOR SUSTAINABLE SUCCESS |
Long-term value creation through the integration of sustainable success (social and environmental dimensions) into strategic objectives, management remuneration policies and internal control systems |
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construction of governance models capable of developing long-term strategies that consider sustainability guidelines |
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SUSTAINABLE FINANCE |
Promotion of environmental and social elements in business financing decisions (Green Bonds, etc.) |
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