CDP Group is an Italian investment bank that was founded in 1850 in Turin. It is an Italian institution for economic development through its long-term investments at local, regional and national level. It also acts as the government's arm for executing public policy mandates. It is headquartered in Rome, Italy, and had EUR 517 billion in total assets in 2021. As of 31 December 2021, CDP Group employed 1,114 people.
In terms of its approach towards impact management, CDP Group acknowledges that its financing activities have both positive and negative impacts. The financial institution also identified and prioritised its impacts through a materiality assessment process which included feedback from external stakeholders and has set targets for its prioritised impacts.In terms of senior leadership accountability, the responsibility for sustainability issues within the financial institution lies with the Board of Directors where 5 out of 12 members are women.
CDP Group has a publicly available policy statement committing it to respect human rights. The financial institution discloses the proportion of its total direct operations workforce for each employee category by age group and that all group employees are covered by collective bargaining agreements.The financial institution has a policy prohibiting bribery and corruption and takes steps to identify and address bribery and corruption.Furthermore, the financial institution has a grievance mechanism accessible to all workers and external stakeholders to raise human rights complaints as well as bribery and corruption concerns.
In terms of its approach to senior leadership accountability, CDP Groupcould link the remuneration of its executive or management teams to sustainability performance criteria.The financial institution also has an opportunity to reach at least 40% female representation in senior leadership positions.Furthermore, CDP Group could describe its approach to engagement on sustainability themes and impact topics with its clients and investees, across its financing activities.
CDP Group could disclose interim emissions reduction targets at the group level, such as a 45% reduction in financed emissions by 2030.The financial institution could also disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. In addition, no evidence was found regarding the financial institution’s approach to fossil fuels that spans across the fossil fuel value chain and its financing activities, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects.Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.
CDP Group has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities.To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the investments directed towards low-income developing countries.
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Net income: EUR 5.3 billion; Total assets: EUR 517 billion