Generali SpA

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Commitment to the climate

The COP21 in Paris outlined the need for the active involvement of the private sector in order to respect global climate change commitments, particularly with regard to limiting the increase of the temperature and the transition towards alternative energies to coal and fossil fuels.

In the last few months of 2015 we set up a working group to devise the most appropriate way of evaluating the carbon footprint of our financial portfolios and the related carbon risk, with the aim of reducing our exposure to carbon-intensive securities (mainly companies that extract and produce coal and fossil fuels) through disinvestment activities and changes in the allocations of the portfolios. We are also considering allocating part of our private equity capital to investments in renewable energies.

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 a paper 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.