The report notes that important objectives have been achieved and new short- and medium-term objectives have been set
Targa Telematics - one of the leading global players in the IoT field and in the development of digital solutions and platforms for connected mobility - has published its second Sustainability Report.
Prepared in accordance with the Global Reporting Initiative (GRI) standards, as required internationally, and the SASB indices, the 2023 Report highlights the results achieved by the company in the field of ESG criteria, in relation to the objectives previously identified and defined along three pillars: People, Business and Environment, associated with the Sustainable Development Goals (SDGs), and defines new short-term objectives.
These three pillars, closely dependent and interconnected, represent the foundations of the Action Plan on which Targa Telematics bases its investment decisions and actions, ensuring that all initiatives undertaken aim to achieve measurable positive ESG impacts.
To support this ambitious program and with a view to continuously improving its sustainability strategy, Targa Telematics has increased investments by 80% in 2023 compared to the previous year. In addition, it has established an ESG Committee, an internal body created spontaneously and horizontally, which sees the active involvement of all the main coordinators responsible for Corporate functions.
Thanks to this integrated and structured approach over time, Targa Telematics has aligned its business plan with the Agenda 2030 sustainable development plan, pursuing its mission of developing innovative IoT and smart mobility solutions for the benefit of people, businesses and the environment.
These are the main objectives achieved for each of the three pillars:
People
During 2023, more than 16,500 hours of training were provided at Group level, a substantial increase compared to 2022. In particular, the objective of extending training activity to almost all of Viasat's business areas was achieved, reaching more than 90% of employees.
Aware of the difficulties and with the aim of supporting the entry of women into occupations related to STEM disciplines (Science, Technology, Engineering and Mathematics), the company has paid special attention to inclusion in the selection process for the activation of internal internships, covering, with the entry of women, 33% of the total. In addition, the company has demonstrated its commitment to increasing the inclusion of women in typically male technical roles, reaching 18.4% of new female hires.
To promote internal dialog and transparency, in 2023 the company also worked on expanding the culture of feedback - a tool that helps each employee to align themselves more easily with the company's objectives - and also with resources inserted and made available within the Group following the acquisition of Viasat. The goal is to reach 50% of employees involved by 2024 and 70% by 2025.
Business
The focus on data security has always been a fundamental pillar for Targa Telematics. The company achieved ISO 27001 certification in 2023, with extensions 27017 (general security controls for users and service providers in the cloud) and 27018 (processing of personal data in the cloud). By 2024, following the acquisition of Viasat, the aim is to integrate ISO 27001 certification and its extensions into the entire group, thus guaranteeing the highest quality for the information security management system.
In addition, during 2023 Targa Telematics defined its Supplier Code of Conduct with the aim of promoting sustainable development and values such as employee dignity, health and equality, guiding the selection of suppliers with quality criteria. In 2023, 26% of suppliers with contracts over €100,000 adhered to the Code, and the company intends to extend it to most of its main suppliers as part of its Quality strategy.
Environment
To reduce its environmental impact and contribute to sustainable mobility, Targa Telematics has implemented several initiatives over the last three years. In 2023, the company achieved the ESG target of using at least 25% of its electricity from renewable sources (26%). The company intends to increase this percentage, aiming for at least 55% by 2026.
The equivalent greenhouse gas emissions associated with the 2023 activities increased due to the integration of Viasat; however, it is important to note that when normalizing the Group's overall emissions on the number of employees, which increased by 312%, there is a reduction of more than 50% in the emission intensity per person per year, a sign that the expansion of the business has not significantly impacted on relative emissions, but has contributed to efficiency in the delivery of value in relation to CO2 intensity.
Finally, with the entry into force in January 2023 of the Corporate Sustainability Reporting Directive (CSRD) and the publication of the Delegated Acts of the new European Taxonomy, Targa Telematics is preparing to comply with the European framework by providing its stakeholders with the tools to correctly evaluate the company's work.
"The commitment to sustainability is rooted in the company's history and objectives, so it is present in all activities, functional areas and organizational strategies, with the aim of taking this path further and further. The results obtained so far, and highlighted in our latest Sustainability Report, are the result of determined and focused teamwork, matured thanks to a constant commitment and passion that everyone applies to the project, and the desire to give back the value generated to the communities in which we operate," commented Nicola De Mattia, CEO of Targa Telematics.
As proof of the company's commitment to ESG issues, two important awards stand out: Targa Telematics is Sustainability Leader 2024 for Il Sole 24 Ore and Statista and, for the second year running, a "Silver Medal" for ESG performance in the Ecovadis ranking.
Targa Telematics' 2023 sustainability report is available at https://www.targatelematics.com/pdf/2023/Sustainability-Report_TargaTelematics_EN.pdf.
ABOUT TARGA TELEMATICS
Targa Telematics is one of the leading global players in the field of IoT and in the development of digital solutions and platforms for connected mobility.
With over 20 years' experience in connected vehicles, it provides technological solutions in telematics, intelligent mobility and digital IoT platforms for mobility operators. The company targets short- and long-term renters, large financial institutions and large fleets with a range of services from insurance telematics to asset and fleet management, remote diagnostics and telemetry for vehicles, professional and construction site vehicles, as well as airport service vehicle management.
With the acquisition of the Viasat Group in 2023, Targa Telematics has strengthened its presence in European markets - with a strong presence in Italy, England, France, Spain, Portugal, Belgium, Poland and Romania, as well as in Chile, with the capacity to operate in international projects with fully dedicated local teams.
Targa Telematics is a participant in the United Nations Global Compact and shares its principles based on a responsible business approach.
www.targatelematics.com
TARGA TELEMATICS
Elena Bellini, Head of Marketing, Mobile 39 335 135 1277 elena.bellini@targatelematics.com
Susanne Furini, Communication Manager, Mobile +39 345 7274925 susanne.furini@targatelematics.com
NEW CREATIVITY
Sónia Marques, Senior Client Executive, +351 932 372 567 assessoria@newcreativity.pt