Generali, a new way of thinking about value: the silent revolution of sustainability
(Lucia Silva, Group Head of Sustainability and Social Responsibility, at Giorno - Carlino - Nazione Rinascimento 3.0, important Italian media outlet)
A silent revolution is underway throughout the international financial community: the gradual realization that a new kind of economic development is necessary, one that does not focus solely on profit but also on environmental protection, business transparency, respect for human rights and the improvement of our communities’ living conditions.
As Lucia Silva, Group Head of Sustainability and Social Responsibility, explained in an interview to an important Italian media outlet, Generali has taken shifts, stimuli and themes of the international debate on sustainability, which represents one of the key enablers of the Group’s strategy for 2021, driving forward and achieving significant, tangible results. Generali is the first insurer in Europe to issue a green bond to finance or refinance, for example, acquisition and refurbishment projects of the Group's real estate assets leading to energy optimization; the Group also features in the Dow Jones Sustainability Index, and developed its first Green Insurance Linked Securities Framework, characterized by the investment of the collateral in assets with a positive environmental impact, and by the allocation of the transferred solvency capital to sustainable initiatives.
Generali’s commitment also includes the allocation of €4.5 billion to green and sustainable investments by 2021 with the explicit purpose of contributing positively to the UN Sustainable Development Goals, as well as the gradual withdrawal from industries that do not comply with certain sustainability and human rights standards. The Group’s commitment also extends to the alignment of the economic recovery with the transition to sustainable development: this is why Generali has joined the European Green Recovery Alliance and decided to channel almost €1 billion into a sustainable economy.
For Generali, being sustainable also means innovating the Group’s internal organisational structure: Silva recalled in particular the specific programmes dedicated to Diversity & Inclusion that aim to create an inclusive and accessible corporate culture and workplace, with a special focus on women, who often find themselves having to reconcile work and family commitments. This can also be achieved through the widespread use of smart working, a flexible approach that during the Covid-19 pandemic became a necessity for millions of people and that Generali extended to 90% of the Group’s employees.
Generali’s ongoing commitment to sustainability embodies the Group’s values that are represented with its Purpose – to enable people to shape a safer future by caring for their lives and dreams – with the desire to be a Lifetime Partner to our customers.