Generali Group

                                 

          Governance & management

          The Board of Directors of the Parent Company is the body responsible for setting the Group's goals and commitments for sustainability, in addition to assessing risks, opportunities and areas for improvement. It is supported by the Corporate Governance Social and Environmental Sustainability Committee which performs a consultative, recommendatory and preparatory role for the Board of Directors regarding the corporate governance and social and environmental sustainability decisions for which it is responsible. It consists of non-executive directors, most of whom are non-independent directors.

          The Group CEO is responsible for the implementation at Group level of the sustainability strategies and policies identified by the Board of Directors. At Group Head Office level, specific functions, committees and working groups have also been set up to ensure we systematically take into account social and environmental aspects related to business activities, as well as economic ones.

          Sponsored by the Group CEO, and chaired by the Group Chief Investment Officer. Its members consist of Group Head Office functions and of some of the countries. Its main objectives are to guide the Group to full integration of sustainability issues with the core business, to anticipate sustainability-related risks and opportunities, to guarantee a consistent approach among all the Group Head Office functions and Business Units, and to monitor progress and results. In 2020 it was agreed that as from 2021  the Committee would meet in connection with the meetings of the GMC.

          Reports to the Group Communications & Public Affairs Director and is responsible for establishing, implementing and reporting financially on the Group sustainability model on the basis of dialogue with the Group Head Office functions and involvement of the Country sustainability managers.

          In order to achieve greater integration of sustainability with the core business, additional cross-functional committees and workgroups focus on specific issues:

          A cross-functional body that assesses issuers in view of the Group’s environmental, social and governance criteria, and supports the Group Chief Investment Officer’s decisions regarding potential exclusions from the Group’s investments.

          A steering committee which reviews initiatives and results achieved to improve the Group’s environmental performance, in compliance with the ISO:14001 standard.

          A working group involving the Group Sustainability and Social Responsibility function, the Group Investments, Assets and Wealth Management function and the Group Life & Health Insurance and Group P&C, Claims and Reinsurance functions, and who’s objective is to coordinate sustainability operations of significance to the Group business. 

          A working group involving the Group Sustainability and Social Responsibility function, the Group Chief Financial Officer function and the Corporate Affairs function in the definition and implementation of a common corporate reporting approach.

          A network of country sustainability managers. Moreover, in some countries Sustainability Committees have been formed to operate at a nation level with the aim of improving the organisation and coordination of activities in the social and environmental fields.