ESG & Sustainabilty, set up in order to monitor and coordinate the various issues relating to social and environmental responsibility, reports through the Chief Financial Officer to the Managing Director and CEO and Board of Directors. It collaborates with a network of Delegates within the various departments in Italy and abroad.
In its 2018-2021 Business Plan, Intesa Sanpaolo committed to strengthening its leadership in sustainability, aiming to become a model of reference in terms of sustainability and social and cultural responsibility. The main ESG responsibilities of the Intesa Sanpaolo Bodies and Structures are specified below.
The board of Directors, with the support of the Risk Committee, approves:
- the annual Consolidated Non-financial Statement, monitoring the Group’s performance in sustainability, including in terms of combating climate change
- the updates to the Code of Ethics as well as the strategic guidelines and policies on sustainability (ESG)
The Risks Committee supports the Board in assessing and analysing sustainability issues (ESG) related to the Bank's operations and in approving the strategic guidelines and policies on sustainability, including the social and cultural responsibility model and the fight against climate change, helping to ensure the best possible risk monitoring and taking into account the objectives of solid and sustainable creation and distribution of value for all stakeholders. It also supports the Board in the approval of the Code of Ethics and the CNFS, in particular by examining the contents of the materiality matrix.
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.
The Committee collaborates in the identification of sustainability issues (ESG) that are potentially relevant for the definition and updating of the materiality matrix; it collaborates in the definition of strategic guidelines and sustainability policies (ESG), including the model of social and cultural responsibility and the fight against climate change, which the Managing Director and CEO submits to the relevant Board Committees and the Board of Directors. It also examines the CNFS prior to its presentation to the Board.
The ESG Control Room supports the Steering Committee - Business Plan and Sustainability (ESG) Session - in the strategic proposition relating to ESG issues; it takes care of the operational coordination for the implementation of the most relevant ESG initiatives and assesses the opportunity and solidity of any new initiatives in this area. The ESG Control Room relies on the Sustainability Managers, identified in each Area and Division, who guarantee an overall and integrated supervision of ESG initiatives for the relevant scope and contribute to the Group's strategic proposition on these issues. The assessment of critical issues takes place on the basis of what emerges from a periodic assessment carried out by a specialized and independent consultancy company to assess the consistency of the corporate management processes with the values of the Code of Ethics. The report to the Governing Bodies also includes the summary of reports by stakeholders of violations of company principles and values.
ESG & Sustainability, within the Financial Market Coverage Department of the Chief Financial Officer Governance Area, aims to oversee the process of defining, approving and updating Group guidelines on sustainability in accordance with corporate strategies and objectives. In particular, it is responsible for:
- provide for sustainability reporting with the Consolidated Non-financial Statement and other thematic publications
- maintain the updating of the Code of Ethics and monitor its application with the support of the Chief Audit Officer
- supervise relations with the financial community and guarantee timely feedback on ESG (Environment, Social and Governance) issues, also for the purposes of positioning the Group in ratings and sustainability indexes
- supervise the promotion and implementation of sustainability aspects in the Group's operations, including Climate Change issues
- supervising stakeholder engagement on sustainability issues
- to take care of the communication and training activities of the Group on sustainability
In these activities, ESG & Sustainability is supported by a network of about 60 CSR Contacts appointed in the main structures and by the CSR Delegates identified in each of the Banks that are part of the International Subsidiary Banks Division.
For each Governance Area, Division and Head Office Department, each Chief identified Sustainability Managers capable of playing a strategic role in the definition and implementation of sustainability objectives and in the cooperation and coordination between Top Management and CSR.
The Code of Ethics, adopted in 2007, expresses the identity of the Bank, its mission and reference values, as well as the principles it adopts in relations with its stakeholders.
The ESG & Sustainability structure periodically presents a report to the Management Control Committee on the state of implementation of the Code of Ethics, on critical issues and reports from stakeholders as well as on the consequent expected corrective actions.
The assessment of critical issues takes place on the basis of what emerges from a periodic assessment carried out by a specialized and independent consultancy company to assess the consistency of the corporate management processes with the values of the Code of Ethics. The report to the Governing Bodies also includes the summary of reports by stakeholders of violations of company principles and values.
Last updated 13 April 2021 at 10:26:07