our commitment to the environment and climate
We want to play an active role in supporting the transition towards a more sustainable economy and society. We will continue to monitor and reduce our direct impact and contribute to keeping global warming below 2°C through our products, services and investments, dialoguing and collaborating with Governments and associations, in line with the declarations in our Group Policy for the Environment and Climate.
For years we have managed our environmental impact in a consistent and structured way, a commitment reiterated on the occasion of the 21st Conference of the Parties (COP21) by the United Nations on climate change held in Paris in December 2015.
We feel obliged to act on various fronts: even if insurance activities do not have a great impact on the environment, because of the size of the Group we could substantially reduce our direct impact in an optimal manner. Furthermore, using suitable measures we can encourage the adoption of environmentally sustainable behaviour in our spheres of influence, particularly those of our clients, suppliers and the companies in which we invest, in order to reduce the indirect impact of our activities.
- Reduce our greenhouse gas emissions by 20% by 2020 (base year 2013)
- Incentivise our clients to adopt environmentally sustainable behaviour
- Invest in a sustainable way
- Incentivise virtuous behaviour in our supply chain
- Invest in research and innovation
- Dialogue and work with national and international institutions
Generali’s public commitments
We can make an educational and informative contribution, helping people and Governments to better understand the risks of climate change, making them aware and seeking to provide support as regards both their mitigation and adaptation actions. We believe in the importance of innovation in this field and we are committed to investing in research. We participate in numerous initiatives and working groups on environmental issues connected with climate change.
In 2016, we took part in the project Italian National Dialogue on Sustainable Development, sponsored by UNEP and the Italian Ministry of Environment, for the preparation of the paper Financing the future on mitigation and adaptation to climate change through insurance and investment activities.
In addition, we joined the research and dissemination project named Disclosure, Measurement, Management and Mitigation of Climate Change Risk for Companies, promoted by the Fondazione Eni Enrico Mattei, which aims to stimulate a public debate, scientifically founded, on the risks associated with climate change for Italian companies.
We have signged up to some of the leading international initiatives:
- Paris Pledge for Action (2015), an initiative that provides an opportunity for the private sector to engage in the implementation of the Paris Agreement COP21.
- Climate Risk Statement of The Geneva Association (2014), the document with which the leaders of the insurance and reinsurance industry will assume a common set of commitments on the measures to be taken to address and mitigate climate change.
- CDP Climate Change Program (from 2010), it is the leading international database which contains data of the companies on the annual GHG emissions, and their approach to risks and opportunities of climate change. It is the main reference for investors who want to consider this issue.
- the European Financial Services (EFR) Statement (2015), in support of a strong will of the members to increase the focus on a reduction of risks related to CO2 emissions and to accompany consumers towards a future low-emissions and examine how the financial industry can support the Sustainable Development Goals of the United Nations.