Letter to stakeholders
Together, for a new business culture
Our commitment to sustainability has deep roots that belong to our nature as a cooperative enterprise, but identity alone cannot guarantee responsible action towards people and the environment. It is necessary to nurture this process with constancy so that there is a greater integration of sustainability in the strategic choices of our activities and to succeed in the intent, which is not easy, of changing the culture of the enterprise by orienting it gradually and, every day more and more, toward a sustainable horizon. The path taken toward sustainability is an ever-evolving journey; it is the "camstobenefit" that guides the narrative of a year full of important milestones.
2023 was the year of our transition to a Benefit Cooperative Society with which we strengthened our commitment to sustainability policies with the aim of having a positive impact on society and the environment in order to operate responsibly and transparently towards our stakeholders. Our cooperative closed a positive balance sheet with 568 million euros in revenues, 710 million euros the group's consolidated balance sheet, after three years of economic and social economic difficulties.
On the environmental sustainability front, we have started LCA (Life Cycle Assessment) analysis and quantified the impact of our restaurant operations to start building our decarbonization path that will take us toward climate neutrality. The goal for 2024-25 is to continue the analysis by expanding to the facility division's activities to get a complete picture and define a mitigation plan for our environmental impacts.
On the front of people's protection and welfare, we have been working on the level of people's training, quality of workplaces, and enhancement of diversity and inclusion capabilities. Therefore, during 2023 - in addition to having consolidated the path on Diversity, Equity and Inclusion in line with ISO 30415 - we started the process for certification on Gender Equality (PdR 125) obtained at the beginning of 2024.
This year represents an important milestone for us in our journey: we are aware that in order to make real progress in this direction, it is essential to listen more and more carefully to the voices of you all, our stakeholders.
For the 2023 Budget, we engaged in a more structured and constructive dialogue with all of you, our partners, customers, suppliers, employees, and those who directly relate to us. This work has enabled us to develop our first dual materiality matrix that outlines the most relevant ESG issues in terms of the impacts generated and the risks to our organization, key indications for defining a future strategy that increasingly integrates sustainability into our business.
The effectiveness of a strategy focused on environmental and social sustainability goals combined with economic ones are the basis of the new strategic plan to be presented in 2025: the year Camst will turn 80 years old.
We are proud of our achievements and aware of the path we still have to travel together, toward the future we want.
Francesco Malaguti
Chairman, Camst group
