United Nations Day
The 24th of October is United Nations Day, which this year coincides with the 75th anniversary of the Universal Declaration of Human Rights. Generali's commitment and initiatives to contribute to the United Nations’ Sustainable Development Goals
The United Nations Charter and the Universal Declaration of Human Rights
The United Nations Charter came into force on the 24th of October 1945, and its ratification led to the creation of the UN. Since then, United Nations Day has been celebrated every year on the 24th of October, with the aim of reaffirming the principles that have inspired the Organization for the past 78 years.
This year also marks the 75th anniversary of the Universal Declaration of Human Rights, which was adopted by the United Nations General Assembly on the 10th of December 1948. This 30-point document still forms the basis of the universal values that protect the freedom and dignity of all human beings.
In light of this upcoming anniversary, the UN has launched the “Human Rights 75” initiative, which aims to raise awareness of the universality and indivisibility of human rights, especially among young people.
Generali’s commitment in support of the objectives of the United Nations
Not only guaranteeing and promoting respect for human rights, but also fostering the sustainable transformation of the economy, society and business: this is how Generali aims to support the achievement of the United Nations Sustainable Development Goals (SDGs), thanks to a series of initiatives through which the Group fulfils its role as a responsible insurer, investor, employer, and corporate citizen.
The materiality analysis is the process that, through the continuous and direct involvement of stakeholders, enables the identification and evaluation of priority issues (including social and environmental issues) on which strategies and actions should focus to protect the Group's ability to create lasting value.
The priorities thus identified find a firm reference in the 2030 Agenda and its Sustainable Development Goals:
- climate change is linked to goals number 7 “clean and affordable energy” and 13 “climate action”
- demographic ageing and new welfare systems is linked to goals number 3 “health and well-being” and 10 “reduce inequalities”
- pandemics and extreme events is linked to goals number 3 “health and well-being” and the 11 "sustainable cities and communities".
Sustainability in investments
Sustainability is the originator of the Group’s strategy, which aims to generate a positive social and environmental impact for stakeholders by integrating sustainability into its core business and processes.
Generali is a signatory of the United Nations Global Compact and the Principles for Responsible Investments (PRI), and has based its investment strategies on ESG criteria for several years.
Investing for climate
Contrasting climate change is one of the priorities of our century. For an investor like Generali, the best way to meet this challenge is to decarbonise its investment portfolio, as per the suggestions of the scientific community. In response to this call to action, in 2018 Generali developed and presented to the market a new strategy on climate change, updated in July 2023, which provides an overview of the actions taken to facilitate a just and socially equitable transition to a net-zero economy.
Generali also joined the Net-Zero Asset Owner Alliance, an initiative promoted by the United Nations that calls on its signatories to achieve net-zero emissions related to investment portfolios by 2050.
The partnership with UNDP
Generali has also signed a partnership with the United Nations Development Programme (UNDP) to reshape the insurance landscape and make a lasting global impact. The partnership centres on the “Three I’s”: Investment, Insurance, and Innovation.
Under this multi-year partnership, officially signed in April 2022, Generali is committed to providing technical and financial resources to UNDP's Insurance and Risk Finance Facility (IRFF). By leveraging Generali's insurance expertise and UNDP's focus on financing and development, the partnership will aim to achieve key milestones, including:
- design digitally enabled insurance solutions to protect vulnerable families and small businesses;
- develop large-scale risk finance solutions with a focus on cost-effectiveness;
- encourage innovative social entrepreneurship projects through Generali's social philanthropy movement, The Human Safety Net;
- promote thought leadership on human development, social innovation, and SME resilience.