Banca Generali S.p.A.
CORPORATE GOVERNANCE SYSTEM
For a constant, solid and sustainable growth
Organizational Structure
Banca Generali’s overall corporate governance framework was defined in line with the current laws and regulations, also taking into account the recommendations of the Corporate Governance Code, that Banca Generali S.p.A. complies with, the principles enshrined in the best practices (including international ones), as well as the Bank of Italy’s Supervisory Regulations and, with particular reference to corporate governance issues, to the Regulations for the Prudential Supervision of Banks issued by the Bank of Italy with Circular No. 285.
Banca Generali S.p.A.’s governance structure is based on the traditional model, which consists of the following corporate bodies: a Board of Directors (composed of 9 members, 4 women and 5 men, including the Chairman and the CEO), within which there are 4 internal Board Committees (Remuneration Committee; Nomination, Governance and Sustainability Committee; Credit Committee and Internal Audit and Risk Committee), a Board of Statutory Auditors and the General Shareholders’ Meeting.
Through the introduction of a new Regulation of the Board of Directors and Board Committees, approved in May 2021, sustainability aspects and principles have been included in the Managerial Steering Committee and in the specific competence areas of all Board Committees. The General Counsel Area, where the sustainability-related competencies have converged since 2018, takes forward its guiding role, as a key element connecting the different internal Structures.
Board of Directors
The Board of Directors (BoD) leads the Company pursuing its sustainable success, which consists in creating long-term value for the benefit of Shareholders, taking into account the interests of other stakeholders relevant to the Company, formulating consistent strategies for the Bank accordingly and verifying and monitoring the implementation on an ongoing basis.
Banca Generali recognizes and reaps the benefits of diversity at the level of the Group, its Corporate Bodies and its management, in all respects, including gender, age, qualification, competencies, training and professional background. To this end, Banca Generali’s Board of Directors approved the Diversity Policy for Members of Company Bodies that formally establishes the criteria and tools adopted by the Bank to ensure an adequate level of diversity and inclusion within its Corporate Bodies.
The provisions contained herein are drawn up in accordance with the Diversity Policy adopted by the Generali Group and in compliance with applicable legislation, the Articles of Association and internal regulations.
ANNUAL INTEGRATED REPORT
With over twelve years of non-financial reporting, since 2018 we present non-financial information within the consolidated financial statements of Banca Generali, "Annual Integrated Report ".
ESG RATINGS
ISS
Banca Generali was positively evaluated by ISS - Institutional Shareholder Services Inc. - on ESG - Environmental, Social and Governance issues
receiving “1” as Governance Score on a scale where 1 is the lowest risk level, 10 is the highest level high. This has made it possible to obtain the Quality Score Badge for the Governance section reserved for companies with the best score
receiving "2" as an Environment Score on a scale where 1 is the highest level of disclosure and 10 the lowest level of disclosure
and receiving “1” as Social Score on a scale where 1 is the highest level of disclosure and 10 the lowest level of disclosure. This has made it possible to obtain the Quality Score Badge for the Social section reserved for companies with the best score
Standard Ethics
The London-based rating company Standard Ethics has attributed Banca Generali the EE/ Strong rating, on a scale from F to EEE. In December 2021 Standard Ethics raised Banca Generali’s 12-month outlook from “Stable” to “Positive”.
Sustainalytics
In December 2021, Sustainalytics, an ESG rating company controlled by Morningstar, updated Banca Generali's ESG Risk Rating to "negligible".
This result placed Banca Generali in 99th place out of approximately 15,000 companies analyzed globally and even first if the analysis is reduced to the 449 financial services operators active in the Asset Management sector.
Vigeo Eiris
Vigeo Eiris, a Moody's ESG Solutions company, updated Banca Generali S.p.A.’s ESG Profile in September 2021. This ESG score places it 6th in the rankings of 97 companies in the Retail & Specialised Banks sector considered, allowing it to be included in the MIB ESG index on 17 October 2021.
Integrated Governance Index 2022
Banca Generali is ranked as a Top Performer among the most virtuous companies in the sustainability arena in the 'ESG Identity' rankings: the quantitative analysis prepared by EticaNews through a questionnaire sent to a sample of listed and unlisted Italian companies to evaluate their alignment with an ESG purpose to be integrated into the company's culture, compliance and strategy.
