For the first year Etica Sgr joined Diasorin’s AGM, held in Milan on 23rd April. Etica Sgr voted for all items in agenda, except for the proposal to approve remuneration report, from which Etica Sgr abstained.
With the support of some socially responsible investors such as the American CREA and Boston Common Asset Management, Etica Sgr attended the general meeting to stress the management on some environmental, social and governance (ESG) issues.
Etica Sgr expressed appreciation of Diasorin’s commitment in terms of social-environmental reporting that would result, by 2015, in the release of a complete sustainability report, addressed to all relevant stakeholders. In connection with Diasorin subscription of the Climate Change initiative promoted by the Carbon Disclosure Project (CDP), Etica Sgr has called for adherence to the questionnaire promoted by the CDP relating the responsible use of water and demands to implement an environmental policy, expression of both current performance and the objectives to be achieved in terms of air emissions, use of water resources, waste management and energy consumption.
In terms of remuneration, it was suggested to Diasorin to introduce environmental and social objectives underlying the definition of the variable components of the remuneration of the Chairman and CEO and other managers with strategic responsibilities, such as, the percentage of complaints received, the overall reduction of CO2 emissions and the rate of supply of energy from renewable sources. It has been suggested also to consider different economic and financial indicators that can express more significantly the efficiency of business management.
Finally, Etica Sgr asked the difference between the medium compensation of Diasorin’s employees and CEO’s one.
