In selecting our suppliers we adopt the principles of integrity, honesty, impartiality, transparency. Our supplier selection is based on the principle of ensuring the best economic procurement conditions, while promoting competition among qualified suppliers.
We carry out the supplier selection process according to clear, reliable, and non-discriminatory procedures, based on objective and documentable criteria, with particular attention to the quality of the products and services offered.
Procurement methods are governed by specific internal regulations, which include rules for transactions with related parties. In our relationships with suppliers, we pursue fairness, transparency, and mutual respect, requiring compliance with ethical, social, and environmental principles, as well as the recognition of fundamental workers' rights. In the event of violations, exclusion or suspension measures are provided.
Furthermore, to support the spread of sustainable business models and reduce the environmental impact the Bank has through its supply chain, we favour suppliers who adopt social and environmental responsibility policies and who offer products or services with better environmental performance (e.g., with certified eco-labels).
Methods of purchase
As part of our commitment to transparency, for significant purchases, we evaluate multiple offers in order to identify the most advantageous source in terms of total purchase cost, quality, delivery times, and service performance.
In order to be included in the list of relevant suppliers a specific qualification process has been defined. Relevant suppliers are required to commit to acting in accordance with the Generali Group’s policies on ethics, integrity, fairness, transparency, fair competition and protection of the confidentiality, as well as on occupational safety and environmental protection, as illustrated in detail in the Ethical Code for suppliers of the Generali Group.
Moreover, within the Sustainability Policy we define the objectives and undertakings that guide the Group’s choices and actions, including in procurement activities, in order to make a positive contribution to sustainable development. Accordingly, we give preference to suppliers with social responsibility policies that adopt ecological criteria (e.g., use of green technologies and procedures).
In line with the Ethical Code for Suppliers of Generali Group, which states the general principles that must underlie fruitful relationships with contractual partners, we are committed to increasingly integrating ESG matters in the supply process.
In collaboration with Generali Group and with support from a third-party infoprovider (IntegrityNext), in 2024 we activated the ESG Assessment Service with the aim of involving all suppliers with a turnover in excess of 100,000 euros, covering a total of approximately 84% of the purchase value. This initiative calls for the assignment of an ESG rating to be used for selecting suppliers in the sourcing process and, above all, in the contract award procedure. Based on the answers given, there are four possible evaluations and the classification is based on four pillars, each with a specific series of questions and certifications to be submitted:
- Human Rights and Labour Rights;
- Health and Safety;
- Environmental Protection;
- Responsible Supply Chain
Who are the suppliers that are excluded?
Suppliers in the following situations are excluded from qualification:
bankruptcy, compulsory liquidation, composition with creditors and all procedures aimed at securing an official declaration of such situations;
- procedures for applying preventative measures or convictions of owners/top managers of the supplier;
- cases of serious error or gross negligence, evidenced by the Generali Group in any manner and committed in the provision of previously awarded services or in the conduct of professional activity;
- violation of tax obligations according to the laws of the country of residence and/or non-payment of the remuneration and social-security contributions of employees;
- unhonoured payment obligations towards tax authorities and social-security agencies;
- violations of the principles laid down in the Ethical Code for suppliers of the Generali Group and/or failure to meet the minimum sustainability requirements;
- legal actions and/or judicial procedures initiated by the Supplier against the Generali Group;
- all other conditions imposed by the Group and/or Local Compliance office.
Regular audits are performed on all suppliers in order to check compliance with the requirements.
