Climate Change Data

Environmental Metrics

ESG Focus Areas

• Product Responsibility
• Client Relations
• Human Capital
• Ethical Business Conduct
• Emissions
• Environmental Commitment
• Social Responsibility

Environmental Achievements

• Trigeneration plant met 86% of energy requirements in 2017, remainder from renewable sources.
• Reduced CO2 emissions by 27% in 2012 (compared to 2007) on the European fleet.
• Waste recovery increased by 1.8% from 41.5% in 2016 to 43.3% in 2017.

Social Achievements

• Provided over 35,500 hours of employee training in 2017.
• Received over 7,600 employee suggestions for improvement in 2017.
• Launched Formula Benessere (well-being) program providing preventative healthcare to employees and their children.
• Donated an exclusive LaFerrari Aperta to Save the Children, raising €8.3 million for education.

Governance Achievements

• Established a Code of Conduct reflecting commitment to integrity, responsibility, and ethical behavior.
• Implemented an Ethics Helpline for reporting concerns about Code of Conduct violations.
• No significant final judgments relating to breach of corruption, anti-competitive, antitrust, environmental, or social and economic area laws in 2017.

Climate Goals & Targets

Environmental Challenges

• Preservation and enhancement of Ferrari brand value.
• Compliance with evolving laws, regulations, and policies worldwide.
• Attraction, development, and retention of talents.
• Reducing CO2 emissions from vehicles.

Mitigation Strategies

• Focus on design, technology, performance, quality, and image of cars; client activities; and Scuderia Ferrari's success.
• Integrated approach to risk management, including socio-environmental risks.
• Substantial investments in training and talent development programs.
• Research and development of CO2 emission-reducing technologies (turbochargers, engine downsizing, hybrid technology).

Supply Chain Management

Responsible Procurement

• Suppliers must respect Ferrari Code of Conduct.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Sustainability Reporting Standards (Core option)

Certifications: ISO 14001, OHSAS 18001

Third-party Assurance: Deloitte & Touche S.p.A. (limited assurance)

Sustainable Products & Innovation

• LaFerrari (hybrid technology)

Awards & Recognition

• ISO 14001
• OHSAS 18001
• FIA Achievement of Excellence (Mugello Circuit)
• Red Dot Best of the Best award (Design)

Environmental Metrics

ESG Focus Areas

• Product Responsibility
• People Responsibility
• Environmental Responsibility
• Social Responsibility
• Economic Responsibility
• Governance

Environmental Achievements

• ~11% reduction in CO2 emissions (estimated reduction in 2018 vs. 2014 on the EU fleet)
• 87% of Maranello plant's energy needs met by the trigeneration plant in 2018, with the remainder from renewable sources.
• More than 90% of purchased electric energy certified as renewable.

Social Achievements

• +14% increase in total employees (vs. 2017)
• +45% increase in training hours (vs. 2017)
• Launched Formula Benessere (Formula Well-Being) program providing preventative healthcare to employees and their children.
• Over 51,500 hours of employee training provided.

Governance Achievements

• Updated materiality analysis reflecting sustainability context developments and the 2019-2022 plan.
• No significant final judgments relating to breach of corruption, anti-competitive, antitrust, environmental, or social and economic area laws in 2018.

Climate Goals & Targets

Environmental Challenges

• Maintaining brand image and reputation.
• Attracting, developing, and retaining talent.
• Meeting increasingly stringent environmental regulations.
• Managing risks related to compliance and ethical business conduct.

Mitigation Strategies

• Integrated approach to risk management using the COSO framework.
• Significant investment in employee training and development.
• Development of hybrid powertrains and other innovations to reduce emissions.
• Implementation of a responsible and efficient supply chain management.

Supply Chain Management

Responsible Procurement

• Suppliers must respect Ferrari Code of Conduct (including human rights and conflict of interest guidelines).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Sustainability Reporting Standards (Core option)

Certifications: ISO 14001

Third-party Assurance: EY S.p.A (Limited assurance)

Sustainable Products & Innovation

• Hybrid powertrains

Environmental Metrics

ESG Focus Areas

• Economic and financial performance
• Image and brand reputation
• Innovation: technology and design
• Human capital
• Health and safety
• Emissions
• Environmental commitment
• Ethical business conduct
• Risk management and Compliance
• Supply chain responsible management
• Quality and safety of products and customers
• Customer satisfaction
• Education
• Local communities
• Industrial relations

Environmental Achievements

• 35% reduction in CO2 emissions (compared to 2007) for the European fleet
• 81% of Maranello plant's energy needs covered by the trigeneration system, with the remaining 19% from renewable sources
• A- rating from CDP for environmental performance and transparency

Social Achievements

• Launched ‘Back on Track’ program to safeguard employee well-being during the COVID-19 pandemic
• Delivered over 63,300 hours of employee training (a 10% increase over 2019)
• Received Equal Salary Certificate for equal pay and treatment of men and women
• Provided over 3,390 medical and specialist check-ups through ‘Formula Benessere’

Governance Achievements

• Updated analysis of most relevant sustainability topics (materiality analysis)
• Adopted Stakeholder Engagement Practice inspired by the Code of Conduct
• Maintained corporate governance and risk management systems aligned with best practices

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic, including a seven-week production suspension
• Adverse financial effects of the COVID-19 pandemic on Formula 1 activities
• Reduced brand diversification activities due to pandemic restrictions

Mitigation Strategies

• Implemented ‘Back on Track’ protocol for safer working conditions
• Provided support to the local and national healthcare system
• Launched online Ferrari Hublot Esports Series
• Adapted training strategy by introducing virtual training solutions

Supply Chain Management

Supplier Audits: 100% of new suppliers in 2020

Responsible Procurement

• Compliance with Ferrari Code of Conduct
• Compliance Evaluation of new suppliers

Climate-Related Risks & Opportunities

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards: Core option, TCFD, SASB

Certifications: ISO 14001, ISO 45001, ISO 20121 (Mugello Circuit)

Third-party Assurance: EY S.p.A. (limited assurance)

Sustainable Products & Innovation

• SF90 Stradale and SF90 Spider (hybrid cars)

Awards & Recognition

• Red Dot: Best of the Best Award
• Compasso d’Oro

Environmental Metrics

ESG Focus Areas

• Proactively fostering best practice governance
• Exceeding expectations
• Being the employer of choice
• Reducing environmental footprint
• Creating and sharing value with the community

Environmental Achievements

• 9% decrease of average specific CO2 emissions compared to the previous year in our EU fleet
• 78% of the electricity needed for the Maranello facilities produced by the trigeneration plant
• 22% of total energy use covered by renewable sources

Social Achievements

• Equal Salary certification for the second consecutive year in Italy, and the first time in the United States
• Over 70,100 hours of training provided to employees (up 11% vs. 2020)
• More than 230,000 vaccine doses administered to local communities through logistical support and facilities at Fiorano track

Governance Achievements

• Pilot project launched to assess suppliers according to sustainability criteria
• Identified and engaged 91 suppliers most impactful in addressing GHG emissions
• Updated analysis of most relevant sustainability topics for the Group and stakeholders

Climate Goals & Targets

Environmental Challenges

• Maintaining a culture dedicated to integrity, responsibility and ethical behavior
• Non-compliance with laws, regulations, local standards (including tax) and codes
• Technological and regulatory uncertainty
• Competition
• Climate Change
• Attraction, development and retention of talents
• Cybersecurity including third parties vulnerabilities

Mitigation Strategies

• Implemented programs to encourage proposals and solutions to improve products, methods and working environment
• Developed a cooperative environment that respects the dignity of each individual
• Launched a pilot project to assess suppliers according to sustainability criteria
• Engaged 91 suppliers most impactful in addressing GHG emissions
• Integrated approach to risk management
• Substantial investments in employee training
• Created a system of procedures, policies, services, infrastructures and training to address cybersecurity

Supply Chain Management

Supplier Audits: Pilot project launched in 2021 to assess suppliers according to sustainability criteria

Responsible Procurement

• Ferrari Code of Conduct
• Risk analysis of strategic suppliers
• Compliance Evaluation

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Rapidly evolving climate and environmental regulations
• Technological and regulatory uncertainty

Opportunities

• Development of energy-efficient products
• Electrification journey

Reporting Standards

Frameworks Used: GRI Standards: Core option, TCFD, SASB, EU Taxonomy Regulation 2020/852

Certifications: ISO 14001:2015, ISO 45001:2018, ISO 20121

Third-party Assurance: EY S.p.A. (limited assurance)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• SF90 Stradale
• SF90 Spider
• 296 GTB

Awards & Recognition

• Equal Salary Certificate
• Top Employers Institute recognition

Environmental Metrics

ESG Focus Areas

• Image and brand reputation
• Product technology, design quality and safety
• Clients and enthusiasts’ satisfaction
• Ethics and human rights
• Supply chain responsible management
• Talent attraction, retention and development
• Health, safety and well-being
• Diversity and inclusion
• Climate change
• Raw materials and circular economy
• Natural resources management and biodiversity
• Economic value creation and distribution
• Responsibility towards the community and future generations
• Data responsibility, privacy and cybersecurity

Environmental Achievements

• Reduction of approximately 5% of energy consumption per car.
• Installation of new photovoltaic panels for over 450 kWp.
• Trigeneration plant produced 71% of the electricity needed for the Maranello plant, while renewable sources covered the remaining 29%.
• Installation of a 1 MW solid oxide fuel cell plant at our Maranello facilities.
• Achieved carbon neutrality in all our operations for 2021 Scope 1 and 2 GHG emissions.

Social Achievements

• Received confirmation of the Equal-Salary Certificate in Italy and North America.
• Launched the “Formula Benessere” program, entailing more than 5,700 medical and specialist checkups for employees and 744 for children.
• Launched the “Formula Estate Junior” program, with participation of more than 780 children.
• Provided over 79,000 hours of training to employees (up 13% vs. 2021).
• Donated one million Euros to support Ukrainians in need.

Governance Achievements

• Updated the Code of Conduct, strengthening its references to aspects of ESG.
• Strengthened the integrity system by introducing a specific Practice regarding Conflicts of Interest.
• Adopted a Compliance Model to assess and govern corporate responsibility laws and regulations.
• Conducted Business Ethics and Compliance (BEC) surveys.

Climate Goals & Targets

Environmental Challenges

• Brand image
• Climate Change
• Delays in Lifestyle Strategy Execution
• Delays in Product Launch
• Cybersecurity Including Third Parties Vulnerabilities
• Competition
• Technological and Regulatory Uncertainty
• Attraction, Development and Retention of Talents and Internal Organization
• Non-Compliance with Laws, Regulations, Local Standards (Including Tax) and Codes
• Social and Geopolitical Instability
• Dependence on Manufacturing Facilities in Maranello and Modena and Production Costs
• Formula 1 Revenues
• Relationship with Suppliers
• Cybersecurity Including Third Parties Vulnerabilities
• Climate Change

Mitigation Strategies

• Thorough Climate Scenario Analysis of prospective climate change risks.
• Engagement activities and partnerships with suppliers to identify effective solutions to reduce GHG emissions.
• Implementation of a responsible and efficient supply chain management.
• Compliance Evaluation before establishing any business relationship with a Third Party.
• Adoption of an Antitrust Compliance Program.
• Adoption of the Sanctions Compliance Practice.
• Implementation of new processes, internal procedures, and trainings to ensure compliance with data protection and privacy law requirements.
• Creation of a system of procedures, policies, services, infrastructures and trainings to address cybersecurity risks.

Supply Chain Management

Supplier Audits: 109 suppliers engaged regarding GHG emissions; Compliance Evaluation for new suppliers.

Responsible Procurement

• Ferrari Code of Conduct
• Risk analysis of strategic suppliers
• Compliance Evaluation
• Life Cycle Assessments

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards, SASB, TCFD

Certifications: ISO 14001:2015, ISO 45001:2018, ISO 20121, UNECE R155

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Hybrid and electric powertrains
• Recycled aluminum

Awards & Recognition

• Red Dot: Best of the Best
• Equal-Salary Certificate
• Top Employers Institute
• Forbes’ World’s Best Employers
• Universum’s 2022 Italy’s Most Attractive Employers

Environmental Metrics

ESG Focus Areas

• Carbon neutrality
• Equal-Salary Certification
• Employee well-being
• Education
• Responsible Supply Chain

Environmental Achievements

• Reduced direct emissions by 7% in 2023
• Built first prototype engine from recycled aluminum
• Installed solar panels providing an extra 2.4 megawatts peak (MWp) in capacity

Social Achievements

• Achieved Equal-Salary Certification on a global level
• Provided staff with more than 135,000 hours of training
• Introduced a broad-based share ownership plan for approximately 5,000 employees

Governance Achievements

• Strengthened the integration of environmental topics in our strategic plan

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to global events (e.g., semiconductor shortage, geopolitical tensions)
• Increasingly stringent fuel economy, emissions, and safety standards
• Cost of integrating advanced technologies (hybrid and electric)
• Maintaining brand exclusivity while increasing production
• Climate change and environmental impacts
• Cybersecurity threats

Mitigation Strategies

• Developing alternative sourcing strategies
• Investing in research and development of advanced technologies
• Controlled growth strategy
• Sustainability initiatives (carbon neutrality by 2030)
• Strengthening cybersecurity measures
• Implementing responsible supply chain management practices

Supply Chain Management

Responsible Procurement

• Ferrari Code of Conduct
• Risk analysis of strategic suppliers
• Compliance Evaluation of new suppliers
• Engagement activities with suppliers to reduce GHG emissions

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters and extreme weather

Transition Risks

• Regulatory changes
• Market shifts towards electric vehicles

Opportunities

• Development of energy-efficient products and alternative fuels

Sustainable Products & Innovation

• Recycled aluminum engine prototype