Achieved important objectives and defined those of the short to medium term
Targa Telematics – one of the leading global players in the field of IoT and the development of digital solutions and platforms for connected mobility – has published its second Sustainability Report.
Drafted with reference to the GRI Standards, as required by the Universal Standard, and the SASB indices, the 2023 Report highlights the results obtained by the company in the ESG field with respect 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. They ensure that every initiative undertaken aims to achieve measurable positive ESG impacts.
To support this ambitious plan and as part of the continuous improvement of its sustainability strategy, Targa Telematics increased its investments by 80% in 2023 compared to the previous year. It has also set up an ESG Committee, an internal committee created spontaneously and on a horizontal basis, which sees the active involvement of all the corporate functions’ key managers.
Thanks to this integrated and structured approach over time, Targa Telematics has aligned its business plan with the sustainable development plan of the 2030 Agenda, pursuing its Mission to develop innovative IoT and smart mobility solutions that benefit people, businesses and the environment.
Going into more detail, for each of the three pillars, these are the main objectives achieved:
People
In 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 the training activity to almost the entire Viasat business perimeter has been achieved, reaching over 90% of employees.
Aware of the difficulties and in order to support the entry of women into occupations related to stem disciplines, the company paid particular attention to inclusion in the selection process for the activation of internal internships, covering, with the entry of girls, 33% of the total. In addition, the company demonstrated its commitment to increasing gender inclusion in typically male technical roles, reaching 18.4% of new female hires.
To promote dialogue and internal transparency, in 2023 the company also worked on extending the culture of feedback – a tool that helps each employee to align more easily with company objectives – also to the resources entered into the Group’s perimeter after the acquisition of Viasat. The goal is to reach 50% of employees involved by 2024 and 70% by 2025.
Business
Focusing on data security has always been a key pillar for Targa Telematics. The company achieved ISO 27001 certification in 2023, with extensions 27017 (general security controls for users and cloud service providers) and 27018 (processing of personal data in the cloud). By 2024, following the acquisition of Viasat, the goal is to integrate ISO 27001 certification and its extensions to 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 dignity, health, and equality of workers, 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 aims to extend it to most major suppliers as part of its Quality strategy.
Environment
Over the past three years, Targa Telematics has implemented several initiatives to reduce environmental impact and contribute to sustainable mobility.In 2023 the company reached the ESG target of using at least 25% of electricity from renewable sources (26%). The company aims to increase this percentage, targeting at least 55% by 2026.
The equivalent greenhouse gas emissions associated with the activities of 2023 have increased by virtue of the integration of Viasat; however, it should be noted that, by normalising 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 the relative emissions, but rather has contributed to efficiency in the delivery of value with respect to CO2 intensity.
Finally, with the entry into force in January 2023 of the Directive on Corporate Sustainability Reporting (CSRD) and the publication of the Delegated Acts of the new European Taxonomy, Targa Telematics is preparing to comply with the European framework, providing its stakeholders with the tools to correctly evaluate the work of the company.
“The commitment to sustainability is rooted in the history and objectives of the company, therefore in all activities, functional areas and organisational strategies to take this path forward. 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 return the value generated to the communities of interest “, commented Nicola De Mattia, CEO of Targa Telematics.
As proof of the company’s commitment to ESG issues, two important awards should be highlighted: Targa Telematics is the 2024 Sustainability Leader for Il Sole 24 Ore and Statista and, for the second consecutive year, “Silver Medal” for ESG performance in Ecovadis’ rating.
Targa Telematics’ 2023 sustainability report is available at
https://www.targatelematics.com/pdf/2023/Sustainability-Report_TargaTelematics_EN.pdf