Ferretti Group has released in first sustainability report on corporate operations. The document formally testifies to the Group’s introduction of various pathways to minimise the environmental impacts of its production processes and yachts, promoting stronger and more wide-ranging corporate social responsibility measures.

“If we want to continue to grow steadily as a market leader, it is essential to address the economic, environmental and social impacts produced by our activities on the local areas where we operate. Successful sales efforts must go hand in hand with corporate responsibility,” comments Alberto Galassi, CEO of Ferreti Group. “In recent years, Ferretti Group has reported rapid growth and development, bringing beauty and innovation to the marine industry.

“We work with many different stakeholders and their sustainability needs and expectations are important in defining the measures we introduce from day to day to manage and mitigate the impact of our growth strategies. For this reason, and to testify to our corporate responsibility, we had decided to embark on a formal process that has led to the preparation of our first sustainability report. A first for Ferretti Group and a first for the Italian marine industry.”

Following a period of analysis, Ferretti Group has identified a number of areas with the greatest impact on sustainable business and the indicators required to evaluate them. By examining innovation and luxury: yachts, environmental impact of the production process, value for the local area and human capital, on a yearly basis, Ferretti Group hopes to measure the progress of its environmental and social performance.

ISO 14001 certification of the environmental management systems in place at the La Spezia site is the starting point for integrated management of the environmental impact of all production processes, as is IMO Tier III certification obtained by CRN, the first shipyard in Italy to achieve this milestone, for a 62-metre megayacht. Also worthy of mention is the installation of the Ancona trigeneration plant to produce clean electric power, heating and cooling.

According to the group, another fundamental aspect of is ESG development is its impact on the local community, supply chain and human capital. Over 85% of Ferretti Group’s supply chain, which employs a total of more than 2,500 workers, is based in Italy and over 75% of the total economic value generated is distributed in the country. This contributes to job creation and the growth of the ecosystem of small and medium enterprises, including craft businesses.

Ferretti Group has obtained RINA Biosafety Trust Certification, the first voluntary certification to prevent and control infections, protecting over 1,500 workers as well as customers. Finally, the Group has taken out an insurance policy covering all employees and providing protection in the event they test positive for the virus. The policy, which has been renewed for 2021 too, is joined by another initiative to distribute 1,500 pulse oximeters to employees. The pulse oximeter project was developed with the advice of Professor Luca Richeldi, Head of Pneumology at Rome’s Policlinico Gemelli hospital and a member of the Scientific Technical Committee, who back in March, with Ferretti Group, defined the healthcare plan introduced to tackle the most critical phase of the pandemic.

Environmental, social and corporate governance has become an increasingly important element of the superyacht market. Not only does the industry have an ethical responsibility to protect the interests of the environment, its employees and its clients, such measures are also of great importance to growing numbers of superyacht clients. As such, the development of sustainability goals may also have a positive impact on businesses as clients move towards businesses that can demonstrate their willingness to engage with ESG goals.

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