Generali

The institution publishes an engagement report on sustainability impact topics and has a publicly available policy committing to respect ILO core labour rights for both itself and its suppliers. It does not make political contributions and links senior executive remuneration to specific sustainability targets. The stewardship policy addresses client and stakeholder engagement, advocacy, and partnerships, outlining criteria for successful outcomes, escalation routes, and conditions for escalation.

There is a commitment to respect human rights and the establishment of time-bound, measurable targets for providing products, services, and capital for climate solutions, with progress tracked against these targets. Key sectors, clients, and investees for engagement on climate and nature-related issues are transparently identified, and partnerships are formed to influence these entities. The institution monitors its scope 1-2 emissions and has interim targets for 2025 and 2030 aligned with a 1.5C trajectory, alongside a transition plan for its operations, supply chain, and portfolio.

The financial institution has the opportunity to disclose its methodology for determining a living wage in its operational regions. It identifies material financial risks related to sustainability but could also highlight negative impacts throughout its value chain. While it states that it does not provide products or capital to certain fossil fuel projects, it does not address all fossil fuels.

The institution mentions nature-related impacts but could elaborate on the connection between its offerings and prioritised impacts. It refers to nature protection and restoration but should disclose a strategy covering priority sectors. Engagement with clients on nature presents an opportunity to influence their strategies for protection and restoration. Although it monitors scope 3 emissions, it could include additional categories and rationale for exclusions. The institution provides some details on its carbon footprint methodology but should cover all aspects, including emissions coverage and data sources.

It is recommended to disclose the breakdown of clients by income group and to provide further details on its process for mitigating risks related to ILO fundamental rights. Additionally, it should identify social risks associated with its offerings in relation to the net zero transition and provide examples of conclusions and actions taken regarding salient human rights issues from assessments in the past three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.