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The dialogue with stakeholders

The social and economic context in continuous evolution and the increasing awareness of consumers require every company to know how to cope with the new dynamic scenarios. For this reason, a structured approach to stakeholder engagement is fundamental, also in terms of reputational risk management.

2021 materiality matrix

2021 MATERIALITY MATRIX
Integrity in corporate conduct

The related issues refer to: fight against corruption, fight against money laundering, compliance with tax legislation, protection of free competition, respect for privacy and data protection, compliance with labor law, audit activities, litigation and sanctions.

Risks and Opportunities

  • Corruption prevention
  • Compliance and data breach risk management
  • Investments in sensitive sectors
  • Fight against organised crime

Trends and national and international objectives

  • Spread of organised crime
  • Incentive of ethical conduct
  • Fight against active and passive corruption
  • Protection of free competition
  • Compliance with labour laws
  • Privacy, Cyber & data security
  • Anti-Money Laundering
  • Fraud prevention 
Group value and solidity

Being a solid Bank, with growing profitability, allows the Group to contribute favorably to the interests of shareholders and all other stakeholders.

Risks and Opportunities

  • Credit quality
  • Efficient use of capital and diversification
  • Attraction of sustainability aware investors 
  • Management of business, ESG and reputational risks 
  • Changes in the organisational structure

Trends and national and international objectives

  • Globalisation and competitiveness
  • Evaluation of long-term scenarios including climate-related risks and opportunities
  • Promotion of transparent, efficient and ESG friendly financial markets
  • Dissemination of ESG values and culture
  • Assessment of the financial implications linked to ESG impacts
  • Integration of ESG issues into strategic business planning processes 
  • Growing focus on corporate resilience and business continuity

 

Service quality and customer satisfaction

The Group is focused on supplying excellent banking, financial and insurance products and services to customers, activating development levers for the local areas in which it operates.

Risks and Opportunities

  • Proximity to customers and operational streamlining
  • Product innovation and service models
  • IT risk
  • Unfair commercial practices
  • Reputational risks associated with the application of ESG factors/criteria


Trends and national and international objectives

  • Growth in bank deposits and increase in loans, due to or in relation to the uncertainty linked to the pandemic context
  • Business continuity and consumer satisfaction
  • Reorientation of the financial system towards an offer that incorporates the ESG criteria
  • Customer health and safety
  • Service digitisation
  • Multichannel services and customised offering
  • Increasing interest in cryptocurrencies and non-fungible tokens (NFTs)
Sustainable investments and insurance

Savings management and customer insurance protection are central to the Intesa Sanpaolo Group's activities, also from an ESG perspective.

Risks and Opportunities

  • Offer diversification
  • Management of reputational and ESG risks in investments and in relation to insurance products

Trends and national and international objectives

  • Investors' attention to ESG aspects and to the measurement of the sustainability of investments, also as tools to combat climate change
  • Customer satisfaction with asset management by financial operators
  • Integration of ESG risk factors into investment management and insurance activities
  • Promotion of sustainable lifestyles
  • Dissemination of ESG integration practices negative/positive screening, impact investing
  • Growing focus on sustainability reporting for financial services
Transition to a sustainable, green and circular economy

Our commitment to supporting the transition to a low-carbon economy through direct mitigation of its emissions and supporting green initiatives and projects for our customers.

Risks and Opportunities

  • Risks linked to climate change
  • Management of reputational and ESG risks in loans and insurance products

Trends and national and international objectives

  • Support to the growth of demand and supply of low carbon products and services
  • Increase in Italian companies' green competitiveness
  • Transition to a sustainable economy through a collaborative network and the promotion of circular development models
  • Support to loans for environmental projects 
  • Growing focus to the circular economy, as well as to the protection of biodiversity and ecosystem services
  • Dissemination of the environmental protection culture
Climate Change

Intesa Sanpaolo generates significant environmental impacts both deriving from its direct activities and from its business; as a financial operator therefore plays a fundamental role in orienting capital towards a sustainable economy in the short and long term.

Risks and Opportunities

  • Risks related to climate change
  • Operational protection in risk situations
  • Fluctuation of energy costs and related impacts on business costs and investments 

Trends and national and international objectives

  • Increase in global average temperature
  • Sea level rises and increase in their temperature
  • Increased frequency of extreme weather events
  • Adverse impacts for biodiversity and competition for natural resources
  • Increased set of regulations applicable nationally and internationally
  • Identification, management and reporting of governance, strategy, climate risk management, climate-related objectives promoted by the TCFD
  • Reduction and reporting of atmospheric emissions to combat climate change
  • Responsible use of energy and natural resources (including correct waste management with a view to circularity)
  • Clean and accessible energy and water
  • Promotion of actions aimed at mitigation and adaptation to climate change
Retention, enhancement, diversity and inclusion of the Group's people

Thanks to their professionalism, their different skills and their growth paths, the people of Intesa Sanpaolo continue to guarantee excellence in the quality of the service. merit, as well as attention to the issues of diversity and inclusion.

Risks and Opportunities

  • Talent attraction and retention
  • Investments in training
  • Diversity, equity & inclusion management
  • Enhancement of human resources


Trends and national and international objectives

  • Incentive of the banking consultant's proactivity for the dissemination of ESG products
  • ESG criteria in the incentivisation and inclusion of employees
  • Gender diversity, equity and inclusion
  • Dissemination of periodic performance evaluation models integrated with ESG elements
Employment protection

For Intesa Sanpaolo, the protection of employment is a priority issue to ensure economic solidity in the medium to long term and one of the elements that also characterized the 2018-2021 Business Plan

Risks and Opportunities

  • Employment
  • Labour law risks
  • Changes in the organisational structure
  • Lifelong learning


Trends and national and international objectives

  • Consultation and inclusion of employees
  • Continuity of employment/Welfare, well-being and social safety nets
  • Growing digitalisation and distribution of hybrid ways of working
  • Job mix transformation
  • Increasing work mobility and competition for the best talents
Financial inclusion and supporting production

Intesa Sanpaolo attributes a central role to the economic and social growth of the areas in which it operates, a fundamental element rooted in the history and way of operating of the Group.

Risks and Opportunities

  • Financial inclusion
  • Support to SMEs
  • Management of reputational and ESG risks in loans


Trends and national and international objectives

  • Increased levels of financial education including in terms of sustainability
  • Integration of ESG risk factors into credit management
  • Actions to eradicate poverty
  • Support for young people and the production sector
Community support

Intesa Sanpaolo attributes a central role to projects aimed at the social, cultural and civil growth of the communities in which it operates.

Risks and Opportunities

  • Brand enhancement
  • Group's leadership in society for the dissemination of the sustainability culture
  • Promotion and measurement of activities with high social impact
  • Investments in sensitive sectors and reputational risk
  • Management of current socio-demographic changes

Trends and national and international objectives

  • Social and economic development of local communities
  • Strengthening cooperation to achieve global sustainable development goals
  • Dissemination of social finance instruments
  • Increase in social inequalities
  • Rising average age of the population
Health, safety and wellbeing of the Group's people

For Intesa Sanpaolo, the definition of concrete approaches, policies and measures for the development, management and strengthening of a modern and integrated corporate welfare system, also central to maintaining high levels of satisfaction for its people, is of fundamental importance.

Risks and Opportunities

  • Company welfare initiatives
  • Work-life balance and flexibility
  • Management of employees' health and safety risks

Trends and national and international objectives

  • Attention to company climate
  • Attention to employees' health and safety
  • Dissemination of welfare and well-being practices
  • Application of protocols for the prevention and mitigation of biological risks
Innovation, digital transformation and cybersecurity

Intesa Sanpaolo intends to maintain sustainable business growth by leveraging the active involvement of people and a cutting-edge digital infrastructure

Risks and Opportunities

  • Compliance and data breach risk management
  • Service quality
  • Privacy
  • IT risk
  • Market and services diversification

Trends and national and international objectives

  • Digital transformation/Digital identity, online payments and billing
  • New technologies to ensure greater accessibility, effectiveness and excellence in the services provided
  • Digital customer experience
  • Dissemination of the use of Home Banking services
  • Increasing attention to the development and continuous improvement of data governance processes, cyber attack prevention and IT infrastructure resilience
  • Dissemination of artificial intelligence, blockchain technology, Distributed Ledger Technology (DLT) and robotics

 

SDGs and the link with matherial issues

Documents
 
Consolidated Non-financial Statement 2019
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