14MB - Pirelli

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Since 2003, European Union Directive 1999/31/EC prohibits disposal in landfills of entire end-of-life tyres (ELTs), and of fragmented ELTs since July 2006. Pirelli has been dedicated for years to research on the management of ELTs, considering the major environmental benefits resulting from their recovery and recycling. Through cooperation with Pirelli Labs, a number of possibilities have been developed for ELTs in terms of recovery of the raw materials that comprise them (“material recycling”), and recovery in the form of high-energy fuel (“energy recovery”), as a valid alternative to the use of fossil fuels. This can include: —— the use of ELT granules in the production of sound insulation products (described in the section dedicated to Pirelli Labs); —— the production of powder to be used in the tyre production process (described in the section dedicated to Pirelli Labs); —— the use of ELTs to produce CDR-Q, a fuel derived from high quality waste (described in the section dedicated to Pirelli & C. Ambiente S.p.A.). tyre recycling diagram carbon black 01 SECTIONING gaseous fuel solid fuel 02 GRANULATION/ PULVERIZATION END-OF-LIFE TYRE rubber or plastic products asphalt building material sound insulation material 03 COMPOUND PRODUCTION TECHNOLOGY ANNUAL FINANCIAL REPORT 2008 229
EXTRAORDINARY SESSION CONSOLIDATED FINANCIAL STATEMENT SUSTAINABILITY REPORT DIRECTORS' REPORT PRELIMINARY INFORMATION Pirelli & C. Real Estate S.p.A. Pirelli RE addresses its environmental impact in three main ways: —— monitoring and reducing the environmental impact of company facilities; —— offering eco-innovative solutions to reduce the environmental impact of operating buildings; —— development of designs for new buildings that enhance the local area in terms of attractiveness, competitiveness on a wider scale and eco-sustainability. Eco-sustainable development In Europe, energy consumption (electricity, oil, gas and coal) for buildings represents 41% of total consumption. According to the European Commission, some of the greatest energy savings can be realised in the residential and service sectors, with an estimated potential savings of 27% and 30%, respectively (Action Plan for Energy Efficiency, 2006). Eco-sustainability is now the future of property development due to several unequivocal drivers: statutory and regulatory changes that will progress from incentives to being mandatory, growing collective awareness for ecology, which is transforming into a major increase in demand for homes with superior “energy quality”, technological evolution that is driving consumers towards a new generation product with a high content of engineering and company reputation on the market, to attract not only private but also institutional investors through an integrated approach and sustainable development on the territory. A recent Nomisma survey clearly shows that, among the various types of commercial properties, the ones that are withstanding the impact of the economic crisis and remaining more marketable are those that are characterised by higher standards and high energy efficiency. The survey also notes how “the users of business spaces are willing to pay rents that are 10% higher than the market average for a green building, since the reduced operating costs amply repays the higher cost of the rent”. Obviously, all of these facts must not remain a marketing exercise, as for many operators, but develop into a detailed and comprehensive programme in an operating and process model that guides all activities and transfers added value to the market, from design culture to the business plan, to commercial activities. The Ecobuilding programme Pirelli RE, precursor in the eco-sustainable building sector, is the first property operator to have launched an integrated programme in 2007 for the application of eco-sustainability criteria to the construction of new buildings (energy efficiency class, bioarchitecture, technology) and to management of existing properties (increase in energy performance and living comfort), designing a new, multi-disciplinary approach to design. 230 PIRELLI & C. S.p.A. MILAN www.pirellire.com www.ecobuilding.pirellire.com
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Pirelli & C. S.p.A. — Milan Annua
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EXTRAORDINARY SESSION CONSOLIDATED
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Directors' report
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Directors' report on operations Sha
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Significant events in 2008 With reg
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Turin and the Pirelli Group sealed
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Yanzhou, China - Mixing department
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The Group ALTERNATIVE PERFORMANCE M
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GROUP CONSOLIDATION The highlights
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A percentage breakdown of the chang
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The change can be summarized as fol
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CAPITAL EXPENDITURES Capital expend
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Thirty years after, the Pirelli Cin
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On the other hand, the Sottozero Se
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Information systems The Information
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Pirelli Real Estate The information
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Risks and uncertainties The current
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This is accomplished by negotiating
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sustainability. A gradual introduct
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ued focus on higher-end product seg
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Instead, Pirelli Tyre has kept its
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ticipating in the championship. In
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and Turkey and the start-up of proj
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Pirelli & C. Real Estate The consol
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Assets under management have a mark
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Balance sheet and financial review
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NON-PERFORMING LOANS Collections on
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NET RESULT The net result is income
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nology) lines; 3) Innovation with t
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start-up of the factory in Romania
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Pirelli & C. S.p.A. Summary of sele
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The reason for the reclassification
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—— details of income (expenses)
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Equity investments held by Director
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Compliance with Article 36 of Conso
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Appointment of the board of statuto
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Article 16 of the bylaws The Board
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ANNUAL FINANCIAL REPORT 2008 83
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Stock Exchange Regulations: indicat
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Savings shares do not have voting r
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e) Employee shareholdings: mechanis
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ers of convertible bonds, for a max
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The composition of the Board of Dir
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When the Board of Directors is due
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Remuneration of the directors veste
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more than 10 million euros (in the
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d) if they receive, or have receive
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8. APPOINTMENTS COMMITTEE The Board
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11. The Committee for Internal Cont
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The internal control officer also r
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12.3. Organisational model ex Legis
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and the set of businesses included
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after the expiry of the date for th
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members of the Board of Statutory A
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ensure orderly discussion and votin
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and cadres employed by the Company,
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priate measures to ensure the order
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with the title of Managing Director
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ing to the regulations issued by Co
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Telecom Italia S.p.A. Telecom Itali
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6. Bodies governing the agreement,
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ANNEX E - General Criteria for the
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— the general results of operatio
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9. Direction and coordination activ
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ANNEX G - Rules of conduct for effe
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mation “in the making,” so as t
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6.3 - Inside information must also
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8.6 — The definition of “roles
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— with the markets closed or in t
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ANNEX A Notices to be sent to perso
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ANNEX B Pirelli & C. S.p.A. Group R
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—— coordinates the Registering
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We further undertake to inform prel
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ANNEX I - Insider dealing - Black-o
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Article 6 —— In the conduct of
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Pirelli and sustainable development
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In October 2004, in a letter addres
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Pirelli has adopted the traditional
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Several tools are simultaneously us
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In 2008 Pirelli commissioned indepe
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Scs Consulting Accountability Ratin
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Page 252 and 253: Social dimension Internal Community
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As part of the restructuring proces
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Group affiliates still provide heal
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—— effective involvement of res
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To better understand these data, it
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Pirelli Real Estate S.p.A. Over the
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Awareness raising and training Pire
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This plan calls for: —— a self-
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larly on the work of the standing c
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focusing on reinforcing young peopl
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Romania In its first year of activi
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In the medical field, Pirelli provi
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A decade ago Pirelli signed an agre
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In April 2008 Pirelli and the Milan
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This is the spirit behind the proje
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THE GLOBAL COMPACT PRINCIPLES AND G
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Companies consolidated line-by-line
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