Driven by the desire to pursue responsible development of our business, we have defined an integrated strategy able to combine business growth and financial solidity with the principles of social and environmental sustainability, creating long-term value.

Sustainable growth, enhancement of human capital, reduction of direct and indirect environmental impacts and attention to social issues are the four areas of responsibility in which we have incorporated targets and projects for the responsible development of the group and our stakeholders.

In order to effectively incorporate the four strategic areas in all our activities, we have employed specific group policies.

The Group Sustainability Policy

The Group Sustainability Policy was created with the objective of governing our direct impacts, by identifying the roles, responsibilities and priority sustainability issues. Based on the 10 principles of the Global Compact, the Policy applies to all group companies, by integrating with all other guidelines, procedures, directives and provisions connected with the areas identified.

The priority themes of the Policy

Group ESG Policy

The Group ESG Policy was drafted with the objective of effectively managing our indirect socio-environmental impacts, thanks to the integration of environmental, social and governance (ESG) criteria in our financing, investing and advisory model.

Objectives strategic plan 2019-23

As proof of our commitment to integrating sustainability in the group’s business and financial strategies, we have included some quantitative sustainability targets in the strategic plan.

The targets have also been defined with the objective of contributing to the attainment of 6 of the 17 Sustainable Development Goals for the generation of positive change at global level.

  Sustainable growth

 

  • Responsible investing
    100% of new investments selected on the basis of both ESG and financial criteria
    +30% of ESG products in customers’ portfolios
  • Contribution to economic growth
    Investments of €700 million in small and medium Italian companies
  • Suppliers
    40% of expenses relating to suppliers valued according to ESG criteria
  • Customers
    Customer satisfaction: CheBanca! CSI1 core2 segments; @73, NPS1 @25 Compass: CSI @85, NPS @55

 

 

  Development of human capital

  • Equal opportunities
    Roughly 50% of candidates for new positions are women
    All women suited to the role must be considered for internal promotions
  • Training
    Average hours of training +25% for the enhancement of employee skills

 

  Attention to social issues
  • Support to the local community
    €4 million earmarked for projects with a positive social/environmental impact
    Mediobanca Social Impact Fund: increase in AUM ≥ 20%

 

  Reduction in direct and indirect environmental impacts
  • Reduction of direct environmental impact
    Energy: 941% from renewable resources and CO2 emissions down by 272%
    Hybrid cars that cover 90% of the Mediobanca fleet
  • Support to the energy transition
    Issuing of «ESG bonds»: €500 million
    RAM: issuing of a «carbon neutral» fund
    CheBanca! «green» mortgages + 50%

1. Target adjusted from the original (92%) 
2. For Scope 1 + Scope 2 Market-based, named users. Target adjusted from the original (15%) 

 

FY21 non-financial performance
SDG AREA OBJECTIVES TO 2023 30/06/2021

Quality education

Training hours: up 25%, to enhance employees’ competences Up 71% vs 30/6/19
Gender diversity Approx. 50% of female candidates to be considered for new hirings Procedures to guarantee equal representation in staff selection and promotion processes (including specifications for head-hunters) now implemented
All suitable female candidates to be considered for internal promotions
Responsible investing AM: 100% of new investments screened using ESG as well as financial criteria 98.8%
40% of total affluent79 clients’ portfolios now invested in qualified ESG funds (SFDR Article 8/9)80 +33%
Contributing to growth €700m to be invested in outstanding Italian SMEs €140m already invested

Support to local community

€4m per year in projects with positive social/environmental impact Approx. €7.3m in FY 2020-21
MB Social Impact Fund: AUM increase ≥ 20% AUM up 43% versus 30/6/19
Sustainable procuremen 40% of procurement expenses screened using ESG criteriat 40% of procurement expenses screened using ESG criteria81
Clients Customer satisfaction:
  • CheBanca! CSI for premier segments82 @75, NPS @3083
  • Compass: CSI @85, NPS @6584
CSI @81, NPS @43
CSI @88.5 NPS @62
Reducing direct impact on environment

94%85 energy from renewable sources

94% energy from renewable sources
27%86 reduction in CO2 emissions CO2 emissions down 15%
Hybrid cars @90% of the Mediobanca Group’s float in Italy 28% of hybrid cars
Supporting transition to clean energy Green bond issued: €500m First Mediobanca green bond issued (1/9/2020)
RAM: carbon neutral to be issued RAM Stable Climate Global Equities carbon neutral fund issued
CheBanca! green mortgages up 50% CheBanca! green mortgages >5X vs FY20


79. Affluent segment: deposits between €50,000 and €500,000
80. Target revised upwards from the original (30% of client portfolios to consist of ESG products) which was comfortably achieved, even following the introduction of the SFDR obligations
81. Suppliers that have completed the CSR section of the form contained in the Group’s List of Suppliers. This involves merely recording information which does not affect the choice of supplier when decisions are made regarding them
82. Premier, i.e. clients in the affluent (with deposits of between €100,000 and €500,000) and the Wealth Management segment (deposits >€500,000)
83. CSI and NPS revised upwards versus original targets: CSI (Customer Satisfaction Index) @73, NPS (Net Promoter Score) @25
84. NPS revised upwards versus original target: NPS @55
85. Target adjusted from the original (92%)
86. For Scope 1 + Scope 2 Market-based, named users. Target adjusted from the original (15%)

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