Sustainability | Intesa Sanpaolo Vita
Intesa Sanpaolo Vita S.p.A. has signed the Principles for Sustainable Insurance (PSI) and acknowledges that the integration of ESG factors (Environmental, Social and Governance) in its investment process to be of crucial importance, recognizing that these factors, in addition to fostering sustainable economic and social development, can have a positive impact on clients' financial returns, while also reducing their risksi. As described in the Insurance Group Sustainability Policy, it is expected that issuers committed to integrating these ESG factors into their investment strategy could generate sustainable profits over time and, consequently, create value for all stakeholders.
In its Sustainability Policy, Intesa Sanpaolo Vita S.p.A. has defined the following guidelines to promote its responsible and sustainable business model:
Environmental: Intesa Sanpaolo Vita S.p.A. is committed to promoting and raising awareness of its responsible and sustainable business model, with particular focus on climate change, including the consideration of ESG factors in its business practices, the reduction of its direct and indirect environmental impacts, conscious use of natural resources and adequate waste management.
Social: Intesa Sanpaolo Vita S.p.A. is committed to protecting and developing its people, through actions that ensure the well-being and equal opportunities for all its employees and clients, always taking into account their needs and requirements, through the development of high quality products and services, and efficient delivery in the locations in which it operates.
Governance: Intesa Sanpaolo Vita S.p.A. is committed to adopting business ethics and good governance practices, with a particular focus on business integrity and transparency, and increasing internal awareness and promotion regarding ESG factors.
The purpose of the Sustainability Policy is to outline the sustainability principles and standards adopted for the responsible management of its business consistent with the 17 Sustainable Development Goals (SDGs) set by the United Nations 2030 Agenda and signed by the 193 ONU member states, including Italy, in 2015. In particular, the relevant ESG factors are declined in the main objectives of the Sustainability Policy and are divided into:
supporting the Insurance Group's strategic choices, with the aim of concretely integrating ESG principles within its organization and in all areas of business;
supporting the identification of opportunities and the implementation of concrete actions with the aim of creating sustainable value in both the short and medium to long term;
identify and manage risks arising from exposure to relevant ESG factors;
monitor and report on risks and opportunities related to relevant ESG factors.
With the aim of integrating ESG factors into its investment choices, the Company has defined specific criteria for the selection of underlying investments for products promoting, among others, environmental or social characteristics or a combination thereof, and for products aiming at sustainable investments, respectively provided for in Articles 8 and 9 of Regulation (EU) 2019/2088 SFDR. These criteria can be consulted in the " Disclosure on Policy for the integration of ESG (Environmental, Social and Governance) sustainability factors into the investment process of the Intesa Sanpaolo Vita Insurance Group" attached below in summary form.
Furthermore, the Company takes into consideration the principal adverse effects of investment decisions on sustainability factors - relating to environmental, social, or employee relations issues, respect for human rights and the fight against active and passive corruption - both at Insurance Group level and within each financial product classified pursuant to art. 8 or 9 SFDR, according to the procedures set out in the attached "Summary Policy on Principal Adverse Sustainability Impacts (PAI) of the Intesa Sanpaolo Vita Insurance Group".
Finally, in compliance with industry regulations and in line with the provisions of the Intesa Sanpaolo Vita Group's "Guidelines on remuneration, incentives and identification of Key Personnel", the Company has identified, among the strategic actions for all Key Personnel and Middle Management the transversal KPI of the ISP Group "Environmental, Social and Governance (ESG)" which guarantees the consistency of Intesa Sanpaolo Vita's Remuneration and Incentive Policies with the provisions on the integration of sustainability risks, as represented in the document "Summary of Remuneration Policies" attached below.
iSustainability risks are defined as risks associated with an environmental, social or governance event or condition that, if materialized, could cause a significant actual or potential negative impact on the value of the investment.