Environment and community

We steer our choices so as to ensure compatibility between economic initiative and environmental needs, taking an active role in creating a sustainable future.

Protecting the environment as an essential common good

We devote considerable attention to the environment and to the community in which we operate. Aware that sustainable economic development is only possible by preserving the environment around us, we are committed to projects and initiatives to reduce the environmental impacts of our activities.

In so doing, we seek to ensure that economic initiatives and environmental needs are fully compatible by pursuing goals such as:

  • waste sorting;
  • reduction of energy consumption;
  • reduction of water consumption;
  • paper sorting and reduction of waste paper;
  • reduction of harmful gas emissions.

We also consider the development of policies in support of the communities with which we interact to be one of the key factors of business model. It is from this perspective that we make a priority of investing in the growth and development of the local communities, safeguarding and celebrating the best they have to offer and the most talented organisations.

Group's environmental improvement goals and targets for 2020

In light of the growing importance of sustainability issues at the national and international level, Banca Generali continues to prove its commitment by constantly considering the interests of its stakeholders and the economic, environmental and social impacts of its activities when formulating its company strategy and designing its policies. In fact, stakeholders are increasingly vocal in demanding that companies adopt a socially responsible approach to business and contribute positively to society in a broad sense in the short, medium and long term.

In this context, Banca Generali has defined a strategic development and sustainability project that not only covers the area closely linked to ESG investments, but has also led to the launch of a “re-thinking” process of the whole Organisation based on the active engagement of all corporate Functions.

For the eleventh consecutive year, Banca Generali has decided to report its performances relating to topics of a strictly non-financial nature, in further confirmation of the fact that, for Banca Generali, sustainability is an important strategic lever capable of creating value over time.

The information presented hereinafter refers to financial year 2019 and is compared with 2018 results, where possible. Figures come from direct surveys, with the exception of certain estimates — duly highlighted in the document — that have been made but that do not affect the specific figure.

Group's environmental improvement goals and targets for 2020

GHG emissions 2013 2018 2019 Target achievement
Scope 1 593 265 276 (-53%)
Scope 2 1,114 793 935 (-16%)
Scope 3 272 206 192 (-29%)
Total 1,979 1,264 1,404 -29% Target achieved
Direct environmental issues Objective Target/Timetable Indicator Target achievement
Energy Optimisation of the electrical power consumption 25% reduction in per-capita electrical power consumption by 2020 Total annual per-capita electrical power consumption 100% from renewable sources
Paper Optimisation of paper consumption 15% reduction in total paper consumption by 2020 Total annual paper consumption -33.4% compared to 2013
Water Optimisation of water consumption 15% reduction in water consumption by 2020 Total water consumption -7.2% compared to 2013
Natural gas and diesel oil Reduction of consumption 25% reduction in gas and diesel oil consumption by 2020 Fossil fuel consumption -38% compared to 2013

Environmental Policy

In accordance with the Generali Group’s strategies, the Banca Generali Group has also decided to apply the control approach to quantify and report GHG (greenhouse gas) emissions, but opted to apply it only to properties used as headquarters that fall within the Generali Group’s Environmental Management System (EMS), over which it has complete financial and operational oversight, including through the Generali Group’s Facility Management functions.

In 2018, the system scope included the Bank’s offices in Milan, via Ugo Bassi 61, and in Trieste, via Corso Cavour 5/a. The facilities in question host 660 employees, accounting for 76% of the Banca Generali Group's workforce.

It was decided to exclude banking branches, due to their marginal contribution in terms of size and consumption, along with operations centres (Financial Advisors’ offices): these are local logistics facilities to which the Bank applies various models of management and cost bearing/allocation, and where Financial Advisors do not guarantee full financial and operational control of the offices to the Bank.

Direct environmental issuesDirect environmental issues
Reduction in gas and diesel oil consumption Promotion of the sustainability of purchase and investment choices
Invest in a sustainability and finance eco-sustainable initiatives
Encourage virtuous behavior in the supply chain

% of GHG Emissions

Electrical power
Natural Gas
Diesel Oil
Water, paper and waste

We aim to reduce GHG emissions through sustainable mobility management as well, encouraging travel by train.

We also participate in other sustainable mobility initiatives of the Generali Group such as:

  • Travel Policy: encouraging the use of public transport and defining travel and trip guidelines.
  • Car policy: setting maximum carbon dioxide limits for company vehicles;
  • Car Pooling: sharing (company or personal) vehicles for business trips.

In addition, we entered into agreements with the main public transport operators for the Province of Milan to reduce the cost of annual season tickets for public transport such as buses, trams, metro and trains. We encourage and promote bicycle use for getting to work, providing reserved bicycle parking for the Bank’s employees in several locations.

We also invest in new technologies for reducing travels by using video and audio conferencing from personal workstations.

We have launched the Smart Working project, which allows work to be done from home, thus further reducing pollution attributable to commuting.


We aim to act as a privileged partner in the context of initiatives undertaken in support of local communities in social, cultural and athletic endeavours. Sponsorships, donations, events and partnerships with entities and associations reflect the sensitivity and values of the Bank and the Generali Group. Our institutional commitment accompanies and reinforces the commitment of our network of advisors so as to promote a consistent, broad-based activity throughout Italy.

Our initiatives aimed at supporting the local communities from a social, cultural and athletic standpoint may be grouped into two general categories:

  • philanthropic: social commitment with donations of funds, accompanied by company volunteer activities, supporting non-profit organisations and/or institutions;
  • commercial: sponsorship of events and initiatives with a high cultural and sporting value.

Policy for the environment and climate

Banca Generali, in line with the policies of the Generali Group and in accordance with its own Charter of Sustainability Commitments, wishes to take an active role in creating a sustainable future by pursuing an economic development goal that produces a continual improvement in its business results and, at the same time, in the economic, social and environmental conditions of the community in which it operates. Banca Generali’s Internal Code of Conduct states explicitly that economic and social development should be based not only on respect for fundamental human and labour rights but also on environmental protection to which the Group contributes by fostering a reduction of the direct environmental impacts of its operational activities and the indirect impacts associated with its value chain. Banca Generali is aware of the impact that its business operations have and the role that it can play in disseminating virtuous behaviour and promoting a sustainability culture within its own spheres of influence, in particular, amongst employees, customers, suppliers and issuers of financial instruments, as well as the shareholders and all the stakeholders involved in their various capacities. Banca Generali is also aware that climate change represents an environmental, social and economic threat at global level and that a commitment is required on everyone’s part to reduce greenhouse gas emissions resulting from human activities.

This Environment and Climate Policy, approved by the Board of Directors of Banca Generali S.p.A., is adopted by all the Banking Group’s Companies.

Discover our Sustainability report

Our disclosure of non-financial information.