RESPONSIBLE INVESTING
Fostering positive change through investments

The Generali Group

Generali leverages its role as a key global institutional investor and asset manager to apply strict ESG (Environmental, Social and Governance) criteria to the Group’s investments. This commitment started in 2006 and is designed to have a significant impact on economies in which the Group operates, allowing Generali to try to actively influence areas such as environmental protection, respect for human rights and clear and transparent governance.

ESG and Responsible Investing

GENERALI’S SUSTAINABLE GROWTH STRATEGY

"Simply put, we strive to foster positive change trough investments."

At an operational level, we have drawn up principles, processes and criteria to identify, evaluate and ensure continuous monitoring of the issuers in our investment portfolio that are most exposed to ESG risks. These criteria are reviewed and updated annually, and used to assign specific scores to the investments we make. We also analyze non-financial risks that may have an impact on company share prices, engaging with companies to address them.

KEY DATA

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Year since the Ethical filter was applied to the Generali Group investments

Today this commitment is more important than ever, as the world struggles with multiple crises – financial, social, ecological and more – even more emphasized by the Covid-19 pandemic. Acting as a lifetime partner to investors around the world, we believe our focus on socially responsible investing and the application of ESG guidelines will translate to better, more sustainable societies wherever we operate.

Generali Investments

Generali Investments is backed by and shares this strong Group Commitment to Sustainability, a combination of ESG criteria, ethical parameters and guidelines that establish a benchmark companies in the Group aspire to meet and, wherever possible, exceed.

0 bn
Direct investment under the Generali Group’s proprietary Responsible Investment Guidelines.

Generali Investments further refines application of this commitment through a vast range of conscientious SRI (Socially Responsible Investing) approaches, adopted by the boutiques united through our multi-boutique platform. Indeed, the broad range of specialized investment skills and capabilities present in each boutique are in line with the vision and commitment of the Generali Group. As per their investment approaches, each boutique maintains its autonomy to apply ESG parameters and operates within its dedicated SRI mission and framework.

"Our ambition? To promote and lead sustainable investing in asset management."

# 0
Shareholders’ Meetings in which the Group has participated (in 2019)
# 0
voted resolutions, 13% against (in 2019)

We believe that capital invested should maximize both financial and extra-financial performance. Our goal is to help our investors identify and channel capital into strategies that are compatible with and contribute to sustainable development, based on their own needs and without sacrificing profitability.

Our Boutiques ESG convictions and approaches

Sycomore asset management
generali insurance asset management
Generali global infrastructure
aperture INVESTORS
GENERALI REAL ESTATE
generali investments partners
LUMYNA
ESG and Responsible Investing

What is ESG for your company?

We are truly convinced that companies addressing genuine social, societal or environmental needs are the companies of the future and that only shared value can guarantee sustainable performance. Through our investments, our aim is to develop a more sustainable and inclusive economy, encourage companies in their transformation and demonstrate that it is possible to combine purpose and performance.

How do you integrate proprietary/un-proprietary ESG screening/scoring methodology in your investments process?

All the companies included within our investment universe are analysed through our proprietary SPICE framework, developed to assess a company’s sustainable performance. This analysis is fully integrated in our investment process for a 360° view of the company, analysing its relations with all its stakeholders (society & suppliers, employees, investors, clients and the environment). The investment team mainly relies on regular company meetings, their publications as well as experts’ insights.

How do you engage with companies to improve and encourage virtuous behaviors?

We regularly share what we think are the best ESG practices, define areas for improvement as part of a constructive dialogue and systematically vote at shareholders’ meetings of all portfolio companies. We take part in collaborative engagement initiatives run by groups of investors or experts on key issues.

Labels

ESG and Responsible Investing

Integration of ESG factors into the investment process

Integration of ESG factors when analyzing and selecting companies helps to improve our environment and society as a whole, without any negative impact on financial performance. The team examines companies, identifying risks, issues and opportunities, and rates more than 500 European companies (within the MSCI Europe universe), based on ESG criteria.

ESG and Responsible Investing

Proxy Voting Services to our clients: Governance topics and more

Proxy voting is a key pillar of stewardship activities for all institutional investors, today increasingly required to act and implement active ownership policies.

As a responsible investor, the Generali Group is deeply committed to promoting sustainability in investee issuers through proxy voting and engagement.

Decisions made at general meetings of investee issuers impact companies’ long-term strategies. Voting at general meetings represents both a duty and an opportunity for Generali Investments, providing a chance to preserve investors’ interests and effectively inform the management regarding companies’ long-term value creation. n addition to exercising voting rights, Generali Investments directly engages investee companies whenever there is value in taking action to encourage change. Generali Investments welcomes collaboration with other investors to leverage the voice of non-controlling investors and influence the companies we choose to invest in.

Generali Investments’ 2018 Annual Report on Proxy Voting & Active Ownership

Services to our clients

ESG and Responsible Investing

1. Voting recommendations: the team performs research & analysis to determine the most suitable voting decisions according to the relevant voting policies and/or guidelines.

ESG and Responsible Investing

2. Engaging with issuers: the team promotes the principles included in voting and engagement policies/guidelines, enabling our clients to become even more active and responsible shareholders.

ESG and Responsible Investing

3. Casting votes: the team votes either via electronic platforms or physically, on behalf of shareholders.

ESG and Responsible Investing

4. Reporting: the team provides, both internally and externally, standard and tailor-made reporting (weekly, quarterly and annually).

Related Documents

GENERALI INVESTMENTS INSURANCE ASSET MANAGEMENT ENGAGEMENT POLICY

GENERALI INVESTMENTS PARTNERS ENGAGEMENT POLICY

GIP STRATEGY FOR THE EXERCISE OF RIGHTS LINKED TO FINANCIAL INSTRUMENTS WITHIN MANAGED UCIS

Integration of ESG (Environmental, Social and Governance) factors into the investment process

Integration of ESG factors when analyzing and selecting companies helps to improve our environment and society as a whole, without any negative impact on financial performance. The team examines companies, identifying risks, issues and opportunities, and rates more than 500 European companies (within the MSCI Europe universe), based on ESG criteria.

ESG and Responsible Investing

Integration of ESG (Environmental, Social and Governance) factors into the investment process

Integration of ESG factors when analyzing and selecting companies helps to improve our environment and society as a whole, without any negative impact on financial performance. The team examines companies, identifying risks, issues and opportunities, and rates more than 500 European companies (within the MSCI Europe universe), based on ESG criteria.

ESG and Responsible Investing

Integration of ESG (Environmental, Social and Governance) factors into the investment process

Integration of ESG factors when analyzing and selecting companies helps to improve our environment and society as a whole, without any negative impact on financial performance. The team examines companies, identifying risks, issues and opportunities, and rates more than 500 European companies (within the MSCI Europe universe), based on ESG criteria.

ESG and Responsible Investing

Integration of ESG (Environmental, Social and Governance) factors into the investment process

Integration of ESG factors when analyzing and selecting companies helps to improve our environment and society as a whole, without any negative impact on financial performance. The team examines companies, identifying risks, issues and opportunities, and rates more than 500 European companies (within the MSCI Europe universe), based on ESG criteria.

ESG and Responsible Investing

Integration of ESG factors into the investment process

Integration of ESG factors when analyzing and selecting companies helps to improve our environment and society as a whole, without any negative impact on financial performance. The team examines companies, identifying risks, issues and opportunities, and rates more than 500 European companies (within the MSCI Europe universe), based on ESG criteria.

ESG and Responsible Investing

The Generali Group commitment over time

2006
Group Ethical Filter 1)
2011
Signed the UN principles for Responsible investing
2015
Signed the Paris Pledge for Action & the EFR (European Financial Services Round Table). Generali Group is part of the Climate Action 100+ a coalition of global investors*
2019
Generali Group issues its 1st Green bond
2007
Signed the UN Global Compact
2014
Signed the UN PSI 3) & the Climate Risk Statement of the Geneva Association
2018
Signed the TCFD Supporters 4) & “Investing in a Just Transition” Generali’s “Climate Change” Strategy 5). Generali Group is an active member of the Investor Leadership Network**
2020
Generali Group joins the UN Net-Zero Asset Owner Alliance

1) Applying the Group Ethical Filter is part of the discretionary evaluation of the investment manager and the results of such evaluation are confidential. 2) UN Principles for Responsible Investment. 3) UN Principles for Sustainable Insurance. 4) Task Force on Climate-related Financial Disclosure, promoted by the Financial Stability Board. 5) Generali’s “Climate Change” Strategy on: a. Green & Sustainable Investments; b. Positioning on coal-related businesses and companies and c. Engagement (coal-related businesses in countries heavily dependent on coal). *The Climate Action 100+ was launched during the COP21 to coordinate engagement and shareholder activism activities in the 100 listed companies with the highest greenhouse gas emissions in the world so that they take measures to rapidly decarbonise their activities. **Investor Leadership Network is 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. Generali Group is 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.