Sustainability Governance

The Board of Directors, with the support of the Risks and Sustainability Committee, approves the updates to the Code of Ethics, as well as the strategic guidelines and policies on sustainability (ESG), including the social and cultural responsibility model and the fight against climate change – taking into account the objectives of solid and sustainable value creation and distribution to all stakeholders; again with the support of the Risks and Sustainability Committee, it approves the CNFS and any other key reporting in this area, monitoring the Group’s sustainability performance, including in the fight against climate change, and ensuring that the CNFS is drawn up and published in compliance with the regulations currently in force.

The Risks and Sustainability Committee supports the Board of Directors in the assessment and investigation of the sustainability issues (ESG) associated with the performance of the Bank’s activities and in the approval of the strategic guidelines and policies on sustainability, including the social and cultural responsibility model and the fight against climate change, contributing to ensuring more efficient risk monitoring and taking into account the objectives of solid and sustainable creation and distribution of value for all stakeholders; in approving the list of ESG-sensitive sectors for the purposes of the Group’s loan activity; in approving the updates to the Code of Ethics and in examining the Annual Report on the Code of Ethics; in approving the CNFS, analysing, in particular, the potentially most relevant sustainability issues as well as any other report of particular importance in this area submitted to the Board of Directors; in verifying the Group’s positioning with respect to national and international best practices in sustainability, with particular reference to Intesa Sanpaolo’s participation in the main sustainability indices.

With the support of the functions responsible for sustainability (ESG) and internal auditing, the Management Control Committee monitors compliance with the principles and values contained in the Code of Ethics. With regard to the CNFS, it monitors compliance with the provisions set out in Italian Legislative Decree no. 254/2016 and reports on this in its annual report to the Shareholders’ Meeting.

The Managing Director and CEO governs the sustainability performances and has the power to submit proposals to the Board for the adoption of resolutions within its remit.

Management committee chaired by the Managing Director and CEO, which includes the first reporting lines, i.e. the Heads of the Governance Areas and Business Divisions. The Committee contributes to the identification of potential relevant ESG topics in order to update the List of Material topics; contributes to the definition of strategic guidelines and policies on ESG issues, including climate change, which the CEO submits to the Board of Directors and to the Committees; examines the Consolidated Non-financial Statement and the Climate Report, before the submission to the Committees and the Board of Directors. It also has the task of directing the consistency of technological development with the Group's ethical principles.

Steers the definition and implementation of the Group's ESG strategy and contributes to ESG disclosure; contributes to the identification of new business opportunities to support companies in their transition towards a sustainable economy and to preserve natural capital; oversees the support of non-profit organizations, the promotion of social inclusion initiatives and educational interventions; leads the promotion of innovation through applied research and supporting startups, open innovation, the circular economy transition and the development of innovation ecosystems; oversees the activities of sharing the Group's historical, artistic, architectural and archival heritage with the Community and the diffusion of the culture of sustainability and innovation, also engaging with public and private institutions.

The ESG Control Room is a collegial managerial body with advisory, analytical, and evaluation functions, established to support the Steering Committee in the exercise of its activities in the ESG field, with particular reference to the strategic proposal of directions, policies and initiatives on ESG-related activities, monitoring the achievement of objectives, and reviewing the actions that may be appropriate or necessary to meet the goals. Chaired by the Head of the Chief Sustainability Officer Governance Area, its members are the heads of the Governance Areas and Divisions, according to the Internal Regulatory Rules. It convenes as necessary, but at least twice a year. Reporting directly to the heads of the Governance Areas and Divisions, the Sustainability Managers ensure overall and integrated supervision of the ESG initiatives for the structure to which they belong and contribute to the Group's proposal in this area. The Sustainability Managers participate in the Tables to promote sharing and synergies on ESG topics at Group level: the ESG Coordination Table, with the primary purpose of sharing, updating, and monitoring the ESG-related activities and objectives; the Sustainable Investments and Insurance Table, dedicated to overseeing the overall ESG initiatives within the Wealth Management Divisions; the Social Impact Table, focused on coordinating and directing efforts in the Social Impact area.

Direction, governance and implementation of social impact initiatives and projects; promotion of the well-being and inclusion of people and the Community; direction, coordination and oversight of initiatives aimed at mitigating the direct environmental impacts generated by the Group.

Overall supervision and management of ESG issues; dissemination of the principles and culture of sustainability; management of sustainability reporting; monitoring of ESG strategic initiatives; definition and monitoring of the Group's ESG targets and management of ESG scoring of corporate clients; support for the identification of new business opportunities in the ESG field and strategic support for the International Subsidiary Banks Division.

Promotion of art and culture, through the management of the Gallerie d'Italia, the enhancement of the Group's art collections and historical archives and the management of projects for the protection and promotion of the artistic and architectural heritage of the Group and the Country, also through partnerships and sponsorships.

Coordination of Intesa Sanpaolo Innovation Center - Company dedicated to the frontier of innovation that explores scenarios and future trends, develops multidisciplinary projects about applied research, supports startups, accelerates business transformation of companies according to the Open Innovation and Circular Economy criteria, promotes development of innovative ecosystems and spreads the culture of innovation - and of Neva Sgr Venture Capital that invests in high-tech startups most innovative and promising on the market.