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Ethical guidelines and scope of application | |
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By signing up to the UN Global Compact, a UN initiative to promote and spread sustainable development practices, in
2007 the Group undertook to implement in its strategies, policies and day-to-day
business 10 principles on human rights, labour, protection of the environment
and anti-corruption.
Consistently with the commitments undertaken, the Group drew up a clear investment
policy and prepared its own ethical guidelines designed to eliminate the risk
of supporting through investments companies that do not respect the aforementioned
principles.
In this context, the Group decided to limit, where possible, the exclusion of
entire business sectors on the basis of certain moral issues not universally accepted,
preferring instead to assess the conduct of each company on the basis of environmental,
social and governance (ESG) issues.
The Group’s ethical guidelines forbid investment in financial instruments issued by companies that, directly
or through subsidiaries:
- produce weapons that, when used normally, may violate fundamental humanitarian
principles (cluster bombs, anti-personnel mines, nuclear weapons, etc.);
- sell military equipment or weapons to countries on the European Union’s arms
embargo list and on the list drawn up by the Stockholm International Peace Research
Institute (SIPRI);
- are involved in:
- serious or systematic violations of human rights, such as killings, torture,
deprivation of freedom, forced labour and child labour;
- severe environmental damage;
- serious corruption;
- other particularly serious violations of fundamental ethical norms.
The ethical guidelines are applied to all direct investments in portfolios where
the investment risk is borne by the Group. In other words, investments made to
cover technical reserves put aside to meet contractual commitments made with policyholders,
as well as investments using the Company’s capital, meet the Group’s ethical criteria.
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last update on 26-09-2011 12:21
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Focus
Sustainability Report 2010
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