Green & Sustainability Bonds

A careful assessment of the impacts of climate change on the Group’s activities is now fully integrated into the Group’s strategic business processes, including those related to financial management. Over the years, the Group has continued to evolve its sustainable finance frameworks, ensuring their alignment with best market practices and the latest regulatory developments.

Generali was the first European insurance company to issue a Green Bond. The transaction, worth €750 million, attracted final orders exceeding €2.7 billion, approximately 3.6 times the offering. The proceeds were allocated to projects involving the acquisition and refurbishment of the Group’s real estate portfolio, with a focus on energy optimization in accordance with the relevant Framework.

The Group showed consistency with its sustainability strategy by issuing a 2^nd Green Bond for €600 million. Also, in this case the response from investors has been very strong with final orders of over €4.5 billion. Net proceeds were allocated to eligible Green Projects as defined in the Framework.

Generali issued its inaugural €500 million Sustainability Bond under its Sustainability Bond Framework, which broadened the scope of the previous Green Bond Framework by incorporating Social categories. This issuance reinforced Generali’s leadership position in sustainability. The transaction attracted total orders of €2.2 billion. Net proceeds were allocated to eligible Green and Social projects as defined in the Framework.

Generali issued its third €500 million Green Bond under its Sustainability Bond Framework. The issuance attracted orders of €1.05 billion from over 116 highly diversified international institutional investors. The transaction further confirms Generali’s commitment to sustainability.
An amount equivalent to the net proceeds of the notes was allocated to Eligible Green Projects in accordance with the relevant Framework.

Generali issued its 4^th Green Bond, € 500 million, The Bond attracted an order book of €3.9 billion more than 7 times the offered amount, from around 300 highly diversified international institutional investor base including a significant representation of funds with Green/SRI ((Sustainable and Responsible Investment) mandates.

In the same year, the Group also issued its 5^th Green Bond, € 500 million, The Bond has attracted an order book in excess of € 1.1 billion, more than 2 times the size of the book, from around 180 highly diversified international institutional investors, including a significant representation of funds with Sustainable/SRI mandates.

For both Green bonds, in line with the Sustainability Bond Framework, an amount equivalent to the net proceeds was allocated to Eligible Green Projects related to Green buildings and infrastructure.

Generali issued its 6^th and 7^th Green Bond, to €500 million and €750 million respectively, with maturities in January 2029 and January 2034, under its Green, Social and Sustainability Bond Framework 2023. During the book-building process, the Bonds attracted an aggregate order book exceeding €2 billion from more than 80 highly diversified international institutional investors, including a significant representation of funds with Sustainable/SRI mandates.
An amount equivalent to the net proceeds was allocated to Eligible Green Projects in accordance with the relevant Framework.

Generali issued its 8^th Green Bond, € 500 million, in accordance with its Green, Social and Sustainability Bond Framework 2023. The New Bond has attracted an orderbook of € 2.1 billion, more than 4 times the offered amount, from around 180 highly diversified institutional investors base including a significant representation of funds with Green/SRI mandates. An amount corresponding to the net proceeds from the Bond was allocated to “Eligible Green Projects” in accordance with the relevant Framework.