Assicurazioni Generali S.p.A. · MIL:G
Assicurazioni Generali — ESG Presentation (2022)
37 slides from Assicurazioni Generali's sustainability presentation, 2022
Slide 1: ESG Investor Presentation 2022
ESG Investor Presentation 2022
Slide 2: Summary
2 Summary I. Our journey toward the sustainable business transformation p.3 II Our 2022-24 ambition and sustainability targets p.4 III. Our Sustainability framework p.5 IV. Our Sustainability performance p.10 Our Climate Change Risk Framework Responsible investing and sustainable finance Innovating
Slide 3: Our Journey towards long-term value creation
3 Our Journey towards long-term value creation SHARED VALUE CREATION With Sustainability as the originator of our new strategy, Generali will lead as a transformative, generative and an impact driven company able to create shared-value 2022 2021 2020 New strategic New Generali goals up to 2024 2017
Slide 4: Delivering a Positive Impact: our 2022-2024 Strategic Goals
4 Delivering a Positive Impact: our 2022-2024 Strategic Goals ▪ Full ESG integration1 by 2024 ▪ 2050 Carbon Neutral investment portfolio, with a 2024 goal of 25%2 carbon footprint reduction RESPONSIBLE INVESTOR ▪ New Green & Sustainable Bond Investments 2021-2025: + €8.5-9.5 billion ▪ €3.5 billion I
Slide 5: Solid Foundations to Integrate Sustainability into Core Activities
5 Solid Foundations to Integrate Sustainability into Core Activities SUSTAINABILITY Foundations Engagement Integrated Control with our Governance Remuneration Reporting functions stakeholders Stakeholders’ engagement Our integrated Governance is Sustainability is part of Integrated Reporting is the
Slide 6: Materiality Assessment: Priorities to Keep Evolving Sustainably
6 Materiality Assessment: Priorities to Keep Evolving Sustainably ▪ In November 2020 the Board of Directors approved the Group materiality assessment, identifying the relevant Environmental, Social and Governance (ESG) megatrends that the Group needs to manage properly and report on, to be recognise
Slide 7: Integrated Governance Driving Sustainability at all Organisational Levels
7 Integrated Governance Driving Sustainability at all Organisational Levels BODIES KEY CHARACTERISTICS ▪ 77% independent board members ▪ 54% has relevant ESG experience BOARD OF DIRECTORS ▪ 46% female representation ▪ 59 years average age ▪ Independent Chair ▪ 98% average meeting participation BOARD
Slide 8: Sustainability Fully Integrated into Remuneration
8 Sustainability Fully Integrated into Remuneration An ESG snapshot of the updated 2022 remuneration plan with a focus on internal strategic ESG KPIs Short-Term Incentive Long-Term Incentive We SHARE Plan 2022-24 Strategy ESG New internal/weighted Emissions-tied KPIs ESG metrics employee share plan
Slide 9: Disclosure and transparency
9 Disclosure and transparency Our sustainable value creation is based on Integrated Thinking In 2013, the first integrated report was published, and the Core&More reporting approach was established CORE Financial and non-financial information MORE Financial and non-financial information is included
Slide 10: 2021 Group Sustainability Highlights
10 2021 Group Sustainability Highlights¹ 12% Votes New Green and Sustainable Against 1,710 Carbon intensity of Investments Bond Investments Net-Zero Asset -29.6% Meetings voted 128 tCO2e/€ m Organizional entities in 2021 Owner Alliance vs 2019 €2,537 m with a smart working member policy in place sup
Slide 11: Generali's Key Sustainability Data Trends
Generali’s Key Sustainability Data Trends 11 ESG Investing Thematic Investments Portfolio Carbon Intensity (EVIC) Green & Social Products Dedicated mandates New green and sustainable bond tCO2e per € m invested Premiums from Green and Social and funds (€ bn) investments Target1 = -25% by 2024 Produc
Slide 12: Climate Change Risk Management Generali's Framework
12 Climate Change Risk Management Generali’s Framework Transition Physical Identification Scenario Description Risk Risk ✓ Climate scenario selection: 1.5oC, 3-4oC, Strong and rapid emissions >4oC based on IPCC & IEA pathways reduction and temperature increase A combination ✓ Materiality analysis on
Slide 13: Management of Climate Change Risks & Opportunities
13 Management of Climate Change Risks & Opportunities Physical Transition Opportunities Risks Risks ▪ Shifting policies, technologies & ▪ Intense weather changes leading to ▪ Worsening weather impacting P&C consumer habits resulting in stranded greater need for protection Identified assets Risks and
Slide 14: Comprehensive ESG Coverage of our Investments
14 Comprehensive ESG Coverage of our Investments KPI connected to Business & Sustainability Strategy Weight of ESG ACTIVE OWNERSHIP in Investment decisions ▪ 1,710 annual general meetings attended (+15%) ▪ 20,795 resolutions voted on (+5.4%), with 12% of votes casted ‘against’ (-0.0 p.p) ▪ Dialogue
Slide 15: Generali Sustainability Bond Framework
15 Generali Sustainability Bond Framework Building upon our Green Bond Framework, the Green and Social Bond Principles and the Sustainability Bond Guidelines, in 2021 we launched an umbrella Framework that will allow Generali to issue 3 types of bonds: Green, Social & Sustainable bonds Proceeds from
Slide 16: Main Features of the Green Insurance Linked Securities Framework
16 Main Features of the Green Insurance Linked Securities Framework ▪ Integrating sustainability principles into alternative mechanisms for the transfer of insurance risk to institutional investors ▪ Further enhancing Generali’s ability to support green projects, and mobilizing all its stakeholders
Slide 17: Sustainable Financial Management
17 Sustainable Financial Management Sustainability Impact 2019 & Prior 2020 2021 2022 Green Bond 1st Green Bond (sector 1st) 2nd Green Bond 3rd Green Bond Framework • €750 million issuance • €600 million issuance • €500 million issuance • Attracted 3.6X initial offer • Attracted 7.0X initial offer •
Slide 18: Lifetime Partner & Digital Assets
18 Lifetime Partner 24 & Digital Assets 2021 2022-2024 €1.2 billion CI NUCMLUULDAI TNIGV ED ISGTI RT AA TL ETGEICCHINNOVLEOSGT YM E N T S , New Relationship Model MULTI-PRODUCT CUSTOMERS OUR CUSTOMERS +1.6% shared customer and data ownership to drive Value 67 million Effortless & Caring Experiences
Slide 19: Becoming a Lifetime Partner for Responsible Consumers
19 Becoming a Lifetime Partner for Responsible Consumers THE RESPONSIBLE CONSUMER ECOSYSTEM GREEN RESPONSIBLE SOCIAL <1% <1% CONSUMER 11.7% Pollution SUSTAINABLE GREEN 69.5% Other & SOCIAL Products INVESTMENT Products aimed SOLUTIONS PRODUCTS promoting at targeted responsible €19.9 billion (+17.5%)
Slide 20: EU Taxonomy eligible and non-eligible activities
20 EU Taxonomy eligible and non-eligible activities Under the European Union’s Sustainable Finance Taxonomy regulation introduced in 2021 companies are required to disclose their alignment with sustainable activities Underwriting Activities Investment Activities Insurance companies can contribute to
Slide 21: Invest in Innovation Engine to Support Future Growth
21 Invest in Innovation Engine to Support Future Growth 2019-2021 2022-2024 STRONG FOUNDATIONS SCALE UP 110 Employee-generated ideas funded GENERALI INNOVATION FUND 15+ Projects in scale up phase €30 million 20+ Countries involved TO FUND NEW PROJECTS AND START-UPS PARTNERSHIPS SMART HOME HEALTH B2B
Slide 22: Our People Strategy
22 Our People Strategy Selection of received awards OUR PEOPLE WOMEN MEN 74,621 + 2.7% 51.4% + 0.4 p.p 48.6% - 0.4 p.p PEOPLE STRATEGY PRIORITIES KEY HIGHLIGHTS CULTURE 2021 Engagement Score Foster a customer-centric, inclusive and open culture 83% (+ 1 p.p. vs 2019, + 1 p.p. vs market benchmark1) C
Slide 23: Diversity & Inclusion
23 Diversity & Inclusion Key 2021 Gender Generali’s 2022-2024 D&I Targets: Balance & Pay Equity Figures DIVERSITY AND 115% INCLUSION INDEX + 9 p.p. 40% WOMEN IN at Group level: Generali’s internal Diversity and Inclusion Index measures STRATEGIC POSITIONS¹ EQUAL PAY GAP (pay gap between females the
Slide 24: Our 190th Anniversary: SME EnterPRIZE
24 Our 190 Anniversary: SME EnterPRIZE Our Ambition Develop an ecosystem that stimulates the debate on Sustainability and SMEs and enable SMEs’ sustainable transformation Editing of a WHITE PAPER Identification and promotion of Engagement of Organization of the on how institutions, banks and SUSTAIN
Slide 25: The Human Safety Net: Generali's Initiative for the Community
25 The Human Safety Net: Generali’s Initiative for the Community Its mission is to unlock the potential of people living in vulnerable circumstances, so that they can transform the lives of their families and communities. • Supports families with young children and the inclusion of refugees through
Slide 26: ESG Investor Presentation 2022 ANNEX
ESG Investor Presentation 2022 ANNEX 26 Credit: Alessandra Chemollo – FOR INTERNAL USE ONLY STRICTLY CONFIDENTIAL
Slide 27: Generali's Key Sustainability & ESG Ratings
Generali’s Key Sustainability & ESG Ratings 27 = Rating or index membership included in 2021-2023 long term executive remuneration plan AAA AAA Leader Rating from MSCI 90/100 Score 99th Percentile DJSI Constituent for both Europe and MSCI S&P CSA1 World Indices Low ISS Sustainalytics Ranked 37 / 301
Slide 28: Generali's Climate Metrics Dashboard
Generali’s Climate Metrics Dashboard 28 Metrics Target 2019 2020 2021 2019-2021 Sustainable Underwriting Responsible Gross written premiums from green insurance products (€ bn) +5%-7% CAGR 1.36 1.56 1.75 avg. +13% Insurer Property & Casualty premiums exposure to fossil fuels 0 by 2038 globally <0.1%
Slide 29: Generali 2021: Green Products
29 Generali 2021: Green Products Promote responsible behaviour with positive impact on the environment and reduce environmental impact Mobility <1% • Products for Green vehicles (electric and hybrid vehicles): <1% Pollution Other • Products rewarding environmentally-friendly driving behavior (e.g.:
Slide 30: Generali 2021: Social Products
30 Generali 2021: Social Products ✓ Promote responsible behaviour with positive impact on people and Health products ✓ Protect specific categories of people (i.e young families, children, the elderly) Products aimed at targeted clients/events: 69.5% 11.7% • Products strengthening social inclusion by
Slide 31: Our Governance: Board of Directors, Committees and GMC
Our Governance: Board of Directors, Committees and GMC Innovation and Sustainability Committee Independent Shareholders’ Board of Chair: Umberto Malesci, Independent – 41 y.o. Auditor Meeting Statutory Auditors ▪ Member of the Board of Directors of the Italian Institute of Technology ▪ Founder of Fl
Slide 32: Board members: Skill Matrix
32 Board members: Skill Matrix Competencies Experiences Regulatory Financial and Insurance framework Business Digital IT Managerial Corporate Audit & Risk ESG & accounting and financial and model and Legal and Cyber Internationalism and/or Institutional Consultancy Academic governance Management Sus
Slide 33: 2022 Group Catastrophe Reinsurance Protection
33 2022 Group Catastrophe Reinsurance Protection ▪ Level of risk retention strategically set in line with the geographical footprint Retention Reinsurance Cat Bond ▪ Similarly, protection in each territory designed in line with the geographical footprint; however Aggregate minimum coverage requireme
Slide 34: ESG Features in the Revolving Credit Facilities
34 ESG Features in the Revolving Credit Facilities Green & Sustainable RCF negotiated with international banks GLOBAL AMOUNT& YEAR DURATION COORDINATOR LINKED TO Green and sustainable Eur 2 bn, 2021 3+1+1+ years Unicredit New green and sustainable bonds investments according to the Climate Change st
Slide 35: Contacts
35 Contacts Assicurazioni Generali Lucia Silva Rodolfo Svara Group Head of Sustainability and Investor & ESG Relations Piazza Duca degli Abruzzi 2 Social Responsibility 34132 Trieste, Italy [email protected] [email protected] Fax: +39 040 671338 +39 040 671823 e-mail: [email protected] www.gen
Slide 36: Disclaimer
36 Disclaimer www.generali.com www.generali-invest.com Certain of the statements contained herein are statements of future expectations and other forward- GIS SRI European Equity and GIS SRI Ageing Population are sub-funds of Generali Investments looking statements. SICAV, an investment company qual
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