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, we continue to prove our commitment by constantly considering the interests of our stakeholders and the economic, environmental and social impacts of the activities when formulating the company strategy and designing 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, we 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.
We report our performances relating to topics of a strictly non-financial nature, in further confirmation of the fact that, for us, sustainability is an important strategic lever capable of creating value over time.
The information presented hereinafter refers to financial year 2020 and is compared with 2019 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
| GHG emissions | 2013 | 2018 | 2019 | 2020 | (ch %) 2020-2013 |
| Scope 1 - Direct emissions produced by heating fuels and the kilometres travelled by the fleet of company cars | 593 | 265 | 276 | 286 | -52% |
| Scope 2 - Indirect emissions caused by power consumption associated with the use of electrical power and district heating | 1,114 | 793 | 935 | 968 | -13% |
| Scope 3 - Other indirect emissions caused by power consumption associated with employees’ business trips, paper and water consumption, as well as the waste disposal (including toner cartridges) | 272 | 206 | 192 | 76 | -72% |
| Total | 1,979 | 1.264 | 1,404 | 1,330 | -33% Target achieved |
| Direct environmental issues | Target by 2020 | Target/Timetable | Indicator | Target achievement (31.12.2020) | |
| Energy - Optimisation of the electrical power consumption | -25% | 25% reduction in per-capita electrical power consumption by 2021 | Total annual per-capita electrical power consumption | -18% - Target in progress | |
| Paper - Optimisation of paper consumption | -15% | 15% reduction in total paper consumption by 2021 | Total annual paper consumption | -83% - Target achieved | |
| Water - Optimisation of water consumption | -15% | 15% reduction in water consumption by 2021 | Total water consumption | -44% - Target achieved | |
| Natural gas and diesel oil - Reduction of consumption | -25% | 25% reduction in gas and diesel oil consumption by 2021 | Fossil fuel consumption | -32% - Target achieved |
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.
The Group’s 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 its direct environmental impacts (i.e., impact arising from its operational activities) and the indirect impacts (i.e., those associated with other areas of its value chain).
In 2014, the Generali Group approved its Group’s Policy for the Environment and Climate that applies to all Group companies and is based on the principles expressed by the United Nations Global Compact for environmental protection.
In particular, these principles aimed to:
- adopt a prudential approach towards environmental challenges by means of systemic management designed to ensure compliance with legislation and the prevention of environmental risks;
- promote environmental responsibility with all stakeholders through specific active engagement programmes focused on continuous improvement and the creation of shared value;
- encourage the development and dissemination of environmentally-friendly technologies that can support efficient management of resources (materials, energy and water) and protect biodiversity, and represent effective measures for mitigating and adapting to climate change.
In order to implement the Policy, the Group has identified some areas of intervention, for which specific indicators and related targets have been identified. These areas include:
- reduction of the environmental impacts of its business;
- integration of environmental and climatic aspects into its investment strategies;
- promotion and raising of awareness of environmental and climatic risks;
- a public commitment to climate;
- reporting and transparency.
In addition, on 21 February 2018, the Assicurazioni Generali’s Board of Directors approved the Climate Change Strategy. This provides for specific investment and underwriting actions and identifies ongoing stakeholder engagement and dialogue as the means for advancing the transition to a low environmental impact company.
The Environmental Management System (EMS), based on the ISO 14001 standard, is the tool that Banca Generali uses to manage its environmental impacts, in line with the provisions set forth in the Group’s Policy for the Environment and Climate. In particular, the Bank has set four objectives for the period 2013-2020 aimed at reducing its impacts
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 Impacts
company building and facility management: such management increasingly occurs within a framework that combines constant improvement of the operational comfort of personnel with the efficient use of natural resources. The following are pursued with the aim of minimising adverse impacts on the environment:
- reduced consumption of electrical power, water and paper;
- more efficient management of waste, with an increase in waste sorting;
corporate mobility management: in pursuit of sustainable management of the business travel needs of administrative personnel, the Group’s Travel Policy envisages:
- containment of travel through increasing use of audio and video conferencing, e-learning training courses, etc.;
- preference for the use of public or collective transport (company shuttle buses, car pooling, etc.);
- introduction of the “new ways of working” concept, i.e., the option of working remotely (generally from home).
In 2021 as well, we are also carrying on with its commitment to reducing its environmental impact by cutting consumption and, continuing the actions taken in previous years. We will continue to commit to achieving the goals and targets for reducing greenhouse gas emissions and consumption of electricity, water and paper defined in our Policy for the Environment and Climate.
In addition, 2020 saw the completion of the work on restoring full purifying functionality to the more than 300 theBreath® panels used in the Bergamo, Milan (S. Alessandro) and Trieste (Corso Cavour) offices, which act by purifying the surrounding air, absorbing the polluting molecules, breaking down any bacterial loads present in the air and neutralising odours.
Indirect Environmental Impacts
We are aware it can encourage our stakeholders to adopt an environmentally friendly behaviour through the adoption of appropriate measures. In particular, the main areas of activity in which we are committed to exerting such influence are relations with suppliers (procurement ecology), customers (product ecology) and issuers (investment ecology):
- procurement ecology: to ensure the integrity of its supply chains, we have included, in line with the Generali Group’s provisions, operational mechanisms (such as penalty clauses that, in the event of a breach, may result in the termination of the contracts) intended to ensure compliance by all suppliers and their procurement chains with applicable legislation on health and safety in the workplace and environmental protection, as well as with the Group’s ethical principles;
- product ecology: in order to encourage the adoption of environmentally friendly behaviour by its existing or prospects, we intend to expand and enhance the range of insurance products and services offered, including through appropriate information and awareness-raising measures;
- Investment ecology: We have adopted an investment policy and laid down ethical guidelines that seek to prevent the risk of supporting companies involved in severe damage to the environment by investing in them.
% of GHG Emissions
Data at 31.12.2021
Community
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.