The Italian Sea Group S.p.A. (TISG), a renowned global entity in luxury yachting, has secured an impressive ESG rating of “A” from Cerved Rating Agency. This marks a significant advancement from its previous BBB rating, positioning TISG above the median within its sector.
The evaluation by Cerved Rating Agency, known for its expertise in assessing the creditworthiness of non-financial enterprises and the sustainability levels of economic operators, underscores TISG’s robust management of ESG risk factors and opportunities. The analysis highlights TISG’s strong organizational capabilities, meticulous planning, and the seamless integration of ESG principles into its corporate governance.
The upgrade to an “A” rating reflects TISG’s successful implementation of its three-year ESG Plan, formalized in 2022 with the publication of its first Non-Financial Statement (NFS) in line with GRI Standards. This achievement is attributed to TISG’s effective containment of environmental impacts, increased use of renewable energy, and compensation of GHG Scope 1 and 2 emissions through carbon credits cancellation.
TISG’s environmental initiatives include obtaining the ISO 14001 certification for Environmental Management Systems ahead of its ESG Plan deadline in 2023. Socially, the company excels in worker inclusion, particularly for employees under 30, and emphasizes employee wellbeing and workplace health and safety, adhering to ISO 45001 standards. Additionally, TISG has ramped up employee training hours and commenced mapping its supply chain based on sustainability criteria.
The analysis also praises TISG’s corporate governance, noting its high performance and strong integration of ESG topics in both strategic planning and operational control. This comprehensive approach ensures TISG remains a leader in sustainable development within the luxury yachting industry.
Giovanni Costantino, Founder & CEO of The Italian Sea Group, expressed pride in the company’s commitment to sustainability and continuous improvement, highlighting the importance of employee wellbeing, environmental responsibility, and robust supply chain management in achieving corporate goals.
Credit: The Italian Sea Group
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