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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.

2020 materiality matrix

2020 MATERIALITY MATRIX
Group value and solidity

Risks and Opportunities

  • Credit quality
  • Efficient use of capital and diversification
  • Attracting sustainability-conscious 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 and efficient financial markets
  • Dissemination of ESG values and culture
  • Assessment of the financial implications linked to ESG impacts
Integrity in corporate conduct

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
  • Anti-fraud
Quality of service and customer satisfaction

Risks and Opportunities

  • Proximity to customers and operational streamlining
  • Product innovation and service models
  • IT risk
  • Unfair commercial practice
  • 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
Sustainable investments and insurance

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
Transition to a sustainable, green and circular economy

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 Identification, management and reporting of governance, strategy, climate risk management, climate-related objectives promoted by the TCFD
  • Promotion of actions aimed at mitigation and adaptation to climate change
  • Increasing attention to the protection of biodiversity and ecosystem services
Retention, enhancement, diversity and inclusion of the Group's people

Risks and Opportunities

  • Talent attraction
  • Investments in training
  • Diversity & 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, equal treatment and inclusion
  • Dissemination of periodic performance evaluation models integrated with ESG elements
Direct environmental impacts

Risks and Opportunities

  • Operational protection in risk situations
  • Impact on costs and business investments
  • Risks related to climate change

Trends and national and international objectives

  • Reduction and reporting of atmospheric emissions to combat climate change
  • Responsible use of energy and natural resources
  • Waste management
  • Clean and accessible energy and water
  • Promotion of concrete climate actions
  • Dissemination of the environmental protection culture
Employment protection

Risks and Opportunities

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


Trends and national and international objectives

  • Uncertain employment levels due to the pandemic context
  • Consultation and inclusion of employees
  • Continuity of employment/Welfare, well-being and social safety nets
Financial inclusion and supporting production

Risks and Opportunities

  • Financial inclusion
  • Supporting 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

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 objectives
  • Dissemination of social finance instruments
  • Increase in social inequalities
  • Rising average age of the population
Health, safety and wellbeing of the Group's people

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 and digital transformation

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
  • Application of artificial intelligence and robotics

 

SDGs and the link with matherial issues

Documents
 
Consolidated Non-financial Statement 2019
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