2021 - 2022

Task force on climate-related financial disclosures (TCFD)

By supporting the TCFD, Mediobanca is joining a cohort of leading companies committed to taking action against climate change and considering how climate change will impact their businesses.

Net-Zero Banking Alliance (NZBA)

With reference to indirect impacts, in 2021 we became a member of the Net-Zero Banking Alliance (NZBA), the initiative promoted by the United Nations with the objective of accelerating the sustainable transition of the international banking sector. 
The NZBA is promoted by the United Nations Environment Programme Finance Initiative (UNEP FI), the UN Programme section devoted to financial institutions, of which Mediobanca became a member when it signed up to the Principles for Responsible Banking (PRB).

Beyond ESG & Sustainability – A new strategic direction

We promoted the online event “Beyond ESG & Sustainability – A New Strategic Direction”. The theme of the event was to take a closer look at ESG factors as drivers of corporate strategies and capital markets.
The Chief Executive Officer of Mediobanca, Alberto Nagel, opened the proceedings, offering his thoughts on the strategic role which the financial system has in the green transition and on the initiatives that the Mediobanca Group has implemented to date in this direction.

MSCI rating: from “BB” to “A"

This confirms Mediobanca’s commitment to ESG issues, which have been integrated into the 2019-23 Strategic Plan to strengthen the Group’s ethical and responsible business model in its pursuit of a sustainable path to growth.
MSCI ESG Ratings are designed to measure a company’s resilience to long-term, industry material environmental, social and governance (ESG) risks.

2020-2021

Mediobanca included in S&P Europe 350 ESG Index

Our inclusion is the result of a reshuffle of the index promoted by S&P Dow Jones, which each year selects the best issuers on the basis of sustainability criteria weighted in order to reflect the companies’ respective market capitalization levels.

Mediobanca included in MIB ESG Index. Launched by Euronext and Borsa Italiana. The first ESG Index for the Blue Chips

The index includes the top 40 companies ranked according to ESG criteria in line with the UN Global Compact principles, and weighted on the basis of the free float market capitalization.
The index’s composition, which will be reviewed once a quarter, is based on analysis of the ESG criteria by Vigeo Eiris (V.E.), part of Moody's ESG Solutions, which assesses issuers’ ESG performances.

Mediobanca adheres to the United Nations' Principles for Responsible Banking

We have adhered to the Principles for Responsible Banking (the “PRB”) of the UN Environment Programme Finance Initiative promoted by the United Nations with the aim of helping to steer the sector further in the direction of achieving the Sustainable Development Goals set by the UN.

ESG objectives in the short term incentives for Top Management

Stronger relation between remuneration policy, corporate sustainability and ESG objectives now included also in the short term scorecards starting from FY22 (already included in the long term plan).

The donations made by Mediobanca to initiatives in the fight against Covid-19 take the Group’s overall commitment to above €3m since the emergency started..

The donation is a testimony to the Mediobanca Group’s desire to support initiatives addressing the social, medical and economic emergency situation exacerbated by the ongoing pandemic situation.

Activities to comply with new European ESG regulatory framework

Group ESG Policy updated

Application spectrum widened  to ECM/DCM/Corporate Finance advisory to CIB clients (previously covering only lending and investing) New Biodiversity Policy and ESG sensitive sectors Policy

Green and sustainable bond framework

We have defined and implemented a Green and Sustainable Bond Framework.
This has enabled the Group  to complete its first green bond issue for institutional investors in a nominal amount of €500m (September 2020).

Assessment vis-à-vis SASB and TCFD requests

Gap analysis for alignment with TCFD (Task Force on Climate-related Financial Disclosures).

The fourth CNFD

2019-2020

Mediobanca becomes Carbon Neutral. 5,620 tons of CO2 offset and 1,000 trees donated

We have become carbon neutral, following a project to offset our CO2 emissions remaining after the domestic climate change mitigation action taken, in so doing has beaten the objective to reduce our impact on the environment included in the 2019-23 Strategic Plan.

CSR targets included in 2019-23 Strategic Plan and LTI for senior management 

The 2019-2023 strategic plan includes sustainability targets, proof of our group’s commitment to the integration of CSR and ESG criteria in the business and financial strategies.
The sustainability objectives were inserted in the strategic plan, proof of our commitment to integrating CSR in the business and financial strategies. We have defined the targets with the intention to contribute to the pursuit of six of the 17 macro objectives described in the Sustainable Development Goals (SDG), dedicating our efforts to help generate positive change at global level.The group’s commitment to sustainability has also been solidified with the integration of qualitative and quantitative ESG objectives in the Long-Term Incentive Plan intended for the top management and linked to the attainment of the pre-established objectives in the strategic plan. 

Corporate Social Responsibility Commitee

The Corporate Social Responsibility Committee is an internal board committee appointed in 2019 with preliminary duties on the sustainability issues to be presented to the attention of the Board of Directors. In addition, the Committee oversees the validation of some strategic sustainability documents, such as the Group CSR Policy and the Non-Financial Disclosure prepared by the managerial Committee.

Sustainability Policy updated

The third CNFD

2018-2019

New Policy on Responsible Lending and Investing

Building on the previous Policy on Responsible Lending and Investing, the new Group ESG Policy promotes sustainable development by integrating ESG criteria into the Group’s business model.
Our Group ESG Policy confirms our commitment and lays down guidelines for the integration of ESG (Environmental, Social and Governance) criteria into the activities of lending, the provision of corporate and investment banking services, and investments in financial instruments made by the Group on a proprietary basis and/or on behalf of our clients (“Business Activities”).
In addition to general principles applicable to all Business Activities (for example, operations with companies involved in the production and/or sale of weapons that violate fundamental humanitarian principles are excluded, as are operations with companies convicted of serious breaches of human rights or crimes in connection with the health and safety of their staff and/or serious damage to the environment), the Group has adopted diversified positive and negative screening criteria for the individual Business Activities involved.With reference to lending and certain types of proprietary investments, specific policies have been drawn up in the area of biodiversity and excluded materials, and for sectors considered to be sensitive from an ESG standpoint, namely: defence and arms, forestry and use of forested areas, production of agricultural goods, the mining industry, production, sale and consumption of energy, and the infrastructure and transport sectors.

ESG Indices questionnaires

We have been included in several ethical indexes, and participated in various sustainability questionnaires, the following in particular: BLOOMBERG GENDER-EQUALITY INDEX; CDP; DOW JONES SUSTAINABILITY INDEXES; FTSE4Good; ESG IDENTITY – IGI COMPANY; ISS ESG - ISS OEKOM; MIB ESG; MSCI; STANDARD EHICS; SUSTAINALITYCS; VIGEO EIRIS.

E-learning course on Sustainability and Human Rights

The second CNFD

2017-2018

Responsible investments and ESG products

Our financial and credit products are conceived and designed to support the social and environmental development of local areas and reward those who invest in sustainability.

At Mediobanca, we have undertaken a process to transform our business model, basing medium-/long-term growth on the principles of responsible investment.
We are well aware that in the long-term, the variables that impact on valuations of companies and institutions cannot be confined to financial aspects, but must also include the environmental, social and governance sphere, in order to create value for the investor and for society as a whole.
Our commitment in pursuing sustainable objectives can be demonstrated by the initiatives undertaken by various Group companies, such as the Green and Sustainable Bond Framework, the disbursement of green mortgages, and the wide range of financial products and services that promote environmental, social or governance characteristics.

Multi-stakeholder forum for updating the materiality matrix

UN Global Compact

We  have adhered to the Principles for Responsible Banking (the “PRB”) of the UN Environment Programme Finance Initiative promoted by the United Nations with the aim of helping to steer the sector further in the direction of achieving the Sustainable Development Goals set by the UN.

The first CNFD

The Consolidated Non-Financial Statement for the Mediobanca Group , drawn up in accordance with the provisions of Article 4 of Italian Legislative Decree 254/16, contains information on environmental, social and staff-related issues and on human rights and measures to tackle bribery and corruption, of use to provide an understanding of the activities performed by the Group, its performance, results and the impact produced by it.
The non-financial reporting contained in the Statement reflects the principle of materiality, or relevance, one of the prerequisites set down by the regulations and a key feature of the GRI Standards. Accordingly, the issues presented in the Statement are the ones which,  are considered relevant in terms of being able to reflect the social and environmental impact of the Group’s activities or influence the decisions of its stakeholders.

 

2016-2017

Group Sustainability Function

The Group Sustainability Unit reports to the Chief Executive Officer, assisting him in all issues relating to social responsibility and ensuring the Group is positioned correctly on these issues in its various areas of operation.

Managerial Sustainability Committee

The Managerial Sustainability Committee is appointed by the Chief Executive Officer with the objective of supporting him in the fulfilment of his CSR responsibilities. In consideration of the strategic role it plays, the Committee is composed of key company figures who ensure consistency between business development and the attainment of the group sustainability objectives.

Group Sustainability Policy

Growth and sustainability are features of the Mediobanca Group’s DNA. Our strategy is based on the conviction that ethics and profit are not necessarily in opposition to each other, because long-term economic growth has to go hand-in-hand with social and environmental progress
To pursue these objectives, the Group has adopted an approach based on identifying, assessing, preventing and reducing direct impact in reputational and operational terms, as governed by the provisions of this Policy, and also the indirect impact as a result of lending and/or investing in activities considered to be serious risks for the environment and society.In order to regulate our indirect impact, the Mediobanca Group has adopted a Group Policy on Responsible Lending and Investing1, which defines the general principles and guidelines for assessing environmental and social factors as well as financial ones in lending, investment and advisory activities.

Materiality matrix

Active listening to stakeholders and business priorities: their combination helps us map the group’s strategic issues.
The definition of priority (or material) issues is an essential step not only in non-financial reporting but also for the management of risks and for strategic sustainability planning. We identify these themes through the materiality analysis process, which is based on stakeholder engagement activities.
The material themes are all the aspects that reflect the significant economic, environmental and social impacts of the organisation or which could greatly influence stakeholders’ decisions.

The first Group Sustainability Reporting 

With this, our first Group Sustainability Report, the Mediobanca Group’s intention is to inform our stakeholders of the approach and policies we have adopted on social and environmental issues, and to describe the results we have achieved in developing our business on a sustainable business with a view to creating value over the long term.

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