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 Policy on Responsible Lending and Investing

The Group Policy on Responsible Lending and Investing 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%) 

 

FY20 non-financial performance

  • New Corporate Social Responsibility Committee at BoD level in addition to the Group Sustainability Management Committee
  • CSR objectives included in the LTI scheme as well as in BPlan23        
  • Group Sustainability Policy update
  • New Group Policy on Responsible Lending and Investing
  • Materiality Matrix update
Employee competences enhanced with avg. training hours up 95% YoY (BPTarget23: 25%) in part to deal with Covid-19 emergency

Procedure adopted to reach targets for equal opportunities, including specification in head-hunter mandates

AM: procedure started to include ESG criteria in investment evaluation (BPTarget23: 100% of new investments)
€100m investments in outstanding Italian SMEs (BPtarget23: €700m)
ESG qualified products in clients’ portfolio up 20% (BPtarget23: up 30%)
€5.4m in FY20 for social/environmental proj. (BPtarget: €4m per year)
B Social Impact Fund: AUM up 29% (BPtarget23: up 20%)

ESG bond issue: green and sustainable framework approved (BPtarget23: €500m)
36% of procurement exp. assessed with CSR criteria (BPtarget23: 40%)
Customer satisfaction: CheBanca! CSI¹ in core segment² @74, NPS¹ @28  (BPtarget23: 73 and 25)

Energy: 93% from renewables (BPTarget23: lifted to 94%),  
CO2 down 6% (BPTarget23: revised to down 27%); hybrid cars: 13% (BPTarget23 : @90% of MB fleet)
RAM Stable Climate Global Equities issued

 

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