The most ethical and sustainable businesses are able to reconcile economic objectives with the social and environmental goals of the local area. The FNM Group has embarked on a path of greater commitment to Corporate Social Responsibility issues, conscious of the opportunities that it can create for the company and all its Stakeholders. The creation of the new organisational structure, drafting of the Sustainability Report, development of training and awareness-raising activities for employees,, drafting of the Guidelines for Sustainable Purchasing, energy efficiency initiatives, management of internal working groups for environmental performance reporting, and coordination of work groups at national (ASSTRA - Transport Association) and international level (UITP) are just some of the activities developed in this area.


Sustainability Governance

The FNM Group has developed its own Sustainability Governance system in line with the new Corporate Governance Code to ensure compliance with the regulations in force as follows:

Committee for Social and Ethical Responsibility

Internal Board Committee tasked with promoting an ethical and environmental corporate policy in line with the Group's sustainability strategy and by monitoring stakeholders' economic, environmental and social expectations. Its tasks also include overseeing the drafting of the Sustainability Report-NFS.

Committee for Control, Risk and Related Party Transactions

An internal Board Committee with advisory and proposal-making functions, which has the task of supporting the assessments and decisions of the Board of Directors relating to the internal control and risk management system with regard to CSR and sustainability, as well as those relating to the approval of periodic financial reports. .

Report Steering Committee

An internal committee overseen by the CSR/Sustainability department and comprising members of the Committee for Social and Ethical Responsibility and a representative from each of the main corporate areas of FNM S.p.A. and one representative from each of the companies included in the scope of the Sustainability Report-NFS, it participates in the process of stakeholder engagement and definition of CSR-Sustainability risks and is involved in the Sustainability Report-NFS project with regard to annual data collection.

CSR-Sustainability Department>

Supervises and coordinates the FNM Group's CSR and sustainability policies It carries out management, planning and scheduling activities with the participation of all organisational units, while also promoting the adoption of sustainability principles. The department operates in various domains:

Sustainability reporting>

The department is responsible for drafting the Sustainability Report (Consolidated Non-Financial Statement) compliant with the requirements of Legislative Decree 254/2016 and in line with the GRI Standards and the requirements of the major rating agencies and inspired by the guiding principles of the International Framework (IIRC). It prepared the 2020 Sustainability Plan, which includes specific sustainability goals, and contributed to updating them in the 2025 Strategic Plan. It also drafted the Guidelines for Sustainable Purchasing, which promote environmental and social sustainability criteria in the procurement process of Group Companies. It coordinates intergroup working groups for standardisation of data collection.

Sustainable Mobility, Energy Efficiency and the Environment>

The department plays a leading role in environmental, energy efficiency and sustainable mobility issues. It promotes internal training courses on CSR-Sustainability, sustainable mobility and the environment. It has drawn up a handbook on good company practices. It coordinates internal working groups on environmental performance reporting and promotes initiatives to reduce single-use plastic consumption.

Corporate social responsibility>

The department promotes and participates in activities on the topics of research and innovation in the field of sustainable mobility and energy efficiency, including through the establishment and coordination of relations with Universities, Research and Development Centres and Foundations, promoting the dissemination and education of a culture of transport and mobility.




FNM has adopted its own Code of Ethics and Conduct. The document contributes, together with the Organisation, Management and Control Model pursuant to Legislative Decree 231/2001, to reinforcing the principles, values and controls of the FNM Group.

In line with the Group's principles and values, the document promotes and encourages whistleblowing, i.e. the practice of workers' reporting of irregularities, fraud or breaches of regulations.

FNM has also adopted an Anti-Corruption Policy that identifies the principles and guidelines to prohibit and prevent engagement in any corrupt conduct in accordance with the principle of ‘zero tolerance' of corruption, ensuring compliance with Anti-Corruption Laws and the culture of integrity. 

Our stakeholders

Given the territorial extension of the FNM Group and its relationship with public and regional bodies, the Group has always sought to foster dialogue with stakeholders by organising one-to-one meetings and multi-stakeholder events extended to municipal administrations, associations, universities and organisations active in the local area.


Gathering stakeholder feedback and opinions on emerging issues

Gathering recommendations for identifying emerging business-related sustainability trends for updating strategic sustainability goals

Updating the materiality matrix

Alignment of the contents of the Consolidated Non-Financial Statement with stakeholder expectations



La stazione di Varese agli inizi del Novecento, con le carrozze trainate dai cavalli che trasportano i passeggeri dalla stazione verso le loro destinazioni

Sustainability :

Sustainability Report

On the Stock Exchange :

On the Stock Exchange

FNM S.p.A.
Registered office in Milan, Piazzale Cadorna, 14
Fully paid-up share capital of € 230.000.000,00

Registered to the Companies Register
Tax code and VAT no. 00776140154
C.C.I.AA. Milano - REA 28331

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