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.
The materiality matrix shows the positioning of the issues with respect to both the importance and priority given by stakeholders in our stakeholder engagement processes, and the level of priority for the Group, intended also as financial or reputational impact on the Bank.
2020 materiality matrix
| 2020 MATERIALITY MATRIX |
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
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
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
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
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
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
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
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
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
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
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
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
In 2020, the material issues identified in 2019 in response to the requests contained in Legislative Decree 254/2016 were essentially confirmed, including in terms of positioning. The analyses carried out made it possible to update the wording and related descriptions of specific issues in order to provide a better explanation of some of the key aspects that emerged. Furthermore, it was possible to grasp the changes driven by the sustainability/ESG context of reference within and outside the Group, also in consideration of the exceptional moment linked to the COVID-19 pandemic (such as the emphasis placed on the health and safety issue). Among the changes of 2020, in particular, "Innovation and Digital Transformation", previously included in the issue "Quality and innovation in customer relations", was highlighted as a separate topic.
In order to highlight how Group's activities affect on the social, economic and environmental conditions of the local, regional and global environment in which it operates, a concentric shape is presented, that shows the seven macrothemes "material" in relation to:
- risks and opportunities for each theme that might have transversal impacts on strategies and on Intesa Sanpaolo business in the medium and long term
- positive impacts that could generate shared value in the long term that for the Group, the environment and society in general.
SDGs and the link with matherial issues
Many of the targets set out in our 2018-2021 Business Plan have a close connection with 12 of the Sustainable Development Goals, intertwining with our materiality analysis, i.e. the relevant issues both in terms of impact on the group's strategies and for our stakeholders.
| Documents |
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| Consolidated Non-financial Statement 2019 |
Last updated 26 November 2021 at 15:41:41
