Capitals
Regarding tangible capitals, Terna supports the infrastructural capital of the National Transmission Grid (“NTG”) alongside the financial capital, which represents the backbone and the enabling factor of the energy transition. In addition to the fundamental natural capital, there are all intangible capitals, starting with the intellectual capital made up of skills, reference values, focus on innovation and the great wealth of data with which the company manages the electricity system.
Tangible capitals
Tangible capitals are the assets that are immediately perceptible within a Company’s business, represented by available financial resources (financial capital) and capital assets (infrastructure capital) that constitute the tangible basis on which to create value over time. These capitals represent the cornerstones of Terna’s operating activities.
Financial capital
Terna’s financial resources are essential to delivering the investment needed to support the Twin Transition - Energy and Digital - and maintain and develop the infrastructure managed by the Company.
Infrastructure capital
The National Transmission Grid (“NTG”) is the backbone and enabling factor of the energy transition.
Intangible capitals
The contribution of sustainability to value creation over time increases the resilience of the business model through responsible and measurable planning and management of intangible capital. Indeed, the goal of achieving an energy and digital transition marked by equity and inclusion requires constant availability of appropriate intangible capital, such as intellectual capital that can innovate, human capital that is always up-to-date in terms of skills and motivation, and adequate social and relationship capital capital to best manage relations with stakeholders.
Intellectual capital
Terna considers intellectual capital to consist of the know-how, skills, sense of loyalty and innovation capabilities shown by the Company’s people, but also the key data assets used in managing the electricity system.
Human capital
The quality of human capital is pivotal to the Company’s growth and thus to creating value over time. With their educational backgrounds, skills developed and reinforced over time, managerial capabilities, motivation, loyalty and sense of belonging, our people are a crucial element in all the Company’s activities and, at the same time, human beings who are to be appreciated and whose rights are to be respected.
Social and relationship capital
Social and relationship capital regards the quality of the relationships cultivated and consolidated with all our stakeholders, whose engagement plays a key role in ensuring that they can participate and share in the Company’s activities.
Natural capital
Natural capital is the only capital that Terna, in common with every other business or person, does not have at its disposal but has an obligation to preserve for the benefit of future generations. In keeping with the periodic materiality analysis, Terna’s operations focus on: managing the impact of electricity infrastructure on the areas in which it is located, a circular approach to waste management, protecting biodiversity, containing CO₂ emissions and energy efficiency.
Natural capital
The natural ecosystem that all businesses are part of, and in which they operate to create value over time, is a shared capital, the most important and the most fragile. The particular nature of this capital commits Terna to finding the correct balance between satisfying the community’s energy needs and its responsibility for protecting and preserving the environment and biodiversity. The resulting solutions ensure that we are able to supply the country with the electricity it needs whilst delivering reliability, value for money and sustainability.
TERNA S.p.A. - Share Capital € 442.198.240 fully paid-up Legal Office in Italy, Viale Egidio Galbani, 70 - 00156 Rome Tel +39 06 83138111 Business Register of Rome, Tax Code and VAT Number 05779661007 - R.E.A. of Rome 922416 - info@pec.terna.it