LU VE S p A : ESG Report

To Iginio Liberali the gardener of dreams

Iginio Liberali, founder of the LU-VE Group, died in December 2022.

The "Gardener of dreams", as he liked to be known, has dreamt up many things and managed to achieve most of them.

He has left us with the values he always followed in his personal and professional life: the humility to continue learning to keep growing the passion for life and for his work way of thinking, always positive and always looking to the future.

"Our best days have yet to be lived"

Nazim Hikmet

LEADERSHIP WITH PASSION

2023 was a year of transformation and reorganization for LU-VE Group. We consolidated our economic results with a turnover of € 617 million, but above all we worked to lay the foundations for our future.

The Group achieved all the targets set for 2023 in relation to the sustainability areas: carbon neutrality, products with a positive impact, high employee engagement, and for the first time, sustainability became an integral part of our industrial plan (2023/2025).

Reorganization, conceived and initiated in 2023, was finalized at the beginning of the current year. The objective is to ensure growth, continuity, and good management, remaining true to the principles that have always guided us: humility, passion, values, and positive thinking. Part of this transformation involved the evolution of our governance structure, with the introduction of the new role of General Manager of the Group, entrusted to Riccardo Quattrini.

The past year was particularly dedicated to the culture of sustainability. To accelerate the process of change, we launched the "Sustainability Ambassadors' Journey", a training program developed in all the countries where the Group operates. 80 employees were selected from various companies and positions within the Group. With the contribution of international experts, the "ambassadors" were trained on various key sustainability topics, such as climate crisis, energy transition and the protection of human rights.

In 2023, significant progress was made in production cycles, products, and the value chain. Strenuous efforts to decarbonize our production continued, with the focus on reducing greenhouse gas emissions.

LU-VE Group products are at the service of food safety, climate well-being, energy efficiency, and digital transformation. In this context, we continued the research, development, and commercialization of technologically advanced solutions, employing natural refrigerants with reduced environmental impact and optimized performance.

In 2023, analyses were conducted on the indirect emissions generated upstream and downstream of our activities, allowing us to better understand our impacts and to begin evaluating additional mitigation strategies.

Over the years, LU-VE Group has defined its vision of sustainability and pursued the progressive consolidation of results. Now the new phase of transformative sustainability begins. Mitigation and adaptation to the climate crisis, the protection of people and their rights, pursued through numerous national and international policies, are no longer ancillary elements of business activity, but become integral parts of it. In this context, our Group has the task of helping to meet the growing demand for air conditioning and refrigeration, through technologies and models capable of minimizing or limiting the effects on the climate crisis and maximizing human rights along our entire value chain.

Our commitment for the future is to pursue the goal of sustainability with even greater dedication, to contribute to the construction of "a world which is evolved, improved, balanced, and aware".

Thank you to all the women and men of LU-VE Group who have contributed to our growth and evolution. "The best of our days have yet to be lived"

OUR VISION

We have enclosed our vision in the four pillars and have indicated the material topics we pursue so that this vi-sion can take shape in the real world.

Our vision is aligned with some of the Sustainable De-velopment Goals (SDGs) defined at global level by the United Nations and understood as a priority for develop-ment by the end of 2030.1

1 The 2030 Agenda is the action programme underwritten in 2015 by the governments of the 193 member countries of the United Nations (UN) that supports organisations in implementing actions aimed at sustainable development. It defines 17 Sustainable Development Goals - SDGs - divided into 169 sub-goals or targets to be achieved by 2030.

"The future has an ancient heart"

(Carlo Levi - writer, painter and doctor)

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