Snam Rete Gas: Best Bond Issuer Corporate Governance Italy 2017
Italy’s Snam Rete Gas, the country’s principal natural gas transporter with pipeline network stretching almost 33,000km, has maintained and expanded its corporate success for over seventy years thanks to a solid governance framework that allowed the company to gain the trust of all stakeholders – including suppliers, customers, and investors. Snam Rete Gas is recognised as a pioneer in pushing health and safety standards for its close to 3,000 workers and was an early adopter of strict environmental standards.
Snam is Italy’s leading natural gas transportation (Snam Rete Gas) and storage (Stogit) utility in Italy and ranks third in the regasification segment (GNL Italia). Listed on the Borsa Italiana since late 2001, the formerly state-owned company attained a market capitalisation of close to €15bn. Besides Italy, Snam maintains operations in France, Austria, and the UK.
The company was one of the first in Italy to establish a comprehensive enterprise risk management (ERM) unit which reports directly to the CEO. The unit is a cornerstone of the company’s structured approach to identify, assess, manage, and control risk.
Earlier this year, Snam Rete Gas unveiled a €5bn five-year investment plan that, amongst others, aims to help the country reduce its carbon footprint by supporting the transition to a low-emission economy.
The CFI.co judging panel agrees that Snam Rete Gas remains at the forefront of technological developments and has successfully leveraged its solid governance structure to keep its leading edge. The judges declare Snam Rete Gas winner of the 2017 Best Bond Issuer Corporate Governance Award.
