Participation in public debate
Education, information and participation are essential to facilitate the transition to sustainable and low-emission development models. That is why we are actively contributing to the public debate, working to improve understanding of the risks of climate change, to raise collective awareness of the need for a green transition and to foster the development of systemic responses to this crucial challenge.
We thus participate in numerous initiatives and working groups on environmental issues, with a particular focus on climate change.
We are active members of the Investor Leadership Network, a collaborative platform launched in 2018 under the Canadian presidency of the G7, which brings together leading global investors to accelerate financial industry actions on key sustainability and long-term growth issues, starting with the climate challenge. In fact, we are part of the ILN working group which is focused on spreading good practices for the analysis and communication of the financial risks related to climate change as part of the FSB-TCFD.
We have also taken part in the Italian National Dialogue on Sustainable Development project sponsored by UNEP and the Italian Ministry of Environment, for the preparation of the paper Financing the future on climate change mitigation and adaptation initiatives through insurance and investment activities. In this context, we have organised high-profile institutional events including the presentation in Italy of Interim Report of the European Commission High-Level Expert Group on sustainable finance.
We have also contributed to the analysis of the impact of climate change on insurance companies and the role our industry can play in mitigation and adaptation, participating in the drafting of Position Paper “The heat is on” published by CRO Forum. We have also participated in the “Asset Owner Disclosure” project aimed at collecting examples of good practices, including the case of Generali, for the effective management of climate change impacts in the insurance sector. The project is promoted by ShareAction, a network of non-governmental organisations for the dissemination of responsible investments practices and shareholder activism.
We have also supported the Disclosure, Measurement, Management and Mitigation of Climate Change Risk for Companies project promoted by the Fondazione Eni Enrico Mattei, for scientific research and awareness raising on the risks associated with climate change within the financial sector and the Italian business world.
Finally, we have also participated in important international initiatives, such as:
- the Task Force on Climate-related Financial Disclosure (TCFD), to promote voluntary financial disclosures on the risks, opportunities and strategies related to climate change management. We have publicly endorsed and we also participate in the UNEP FI PSI –TCFD Pilot Group to define the guidelines for insurance companies that plan to adopt the recommendations of the TCFD;
- Paris Pledge for Action (2015), to bring together private sector actors willing to contribute to the implementation of the Paris Agreement (COP21);
- the Statement of the European Financial Services Round Table (EFR) (2015), with which the leading operators in the financial sector pledge to reduce climate-related financial risks and to support customers in the transition to a low-emission economy;
- Climate Risk Statement of The Geneva Association (2014), with which the leading insurance and reinsurance companies assume a common set of commitments on the measures to be taken to address and mitigate climate change;
- CDP Climate Change Program (since 2010), is the main international database that collects data on greenhouse gas emissions of participating companies and the disclosure on their management of risks and opportunities related to climate change. It is the main reference for financial sector operators wishing to integrate the climate dimension in their investment assessments