Generali wants to communicate its commitment to stakeholders and report on its sustainability performance in order to guarantee the transparency of information and proper comparison over the years.
We started our reporting journey in 2004 with the publication of our first Sustainability Report. Since then, we have been publishing our performance on an annual basis and our reports have been approved by the Group’s Board of Directors.
As of 2017, the Group has presented its long-term value creation process through the Annual Integrated Report, in an organic way, connecting financial and non-financial information and disclosing how sustainability supports the business development and results. This approach is in line with our Charter of Sustainability Commitments and with the goal of integrating sustainability into our business.
The Annual Integrated Report contains a Consolidated Non-Financial Statement in compliance with Legislative Decree no. 254 of 31 December 2016 implementing Directive 95/2014/EU on the “disclosure of non-financial and diversity information by certain large undertakings and groups”. The Statement includes certain non-financial information identified through a specific materiality process. The Annual Integrated Report includes information to respond to the provisions of Regulation EU 2020/852 (known as EU Taxonomy Regulation) and the relative Delegated Regulations which establish a common classification system for environmentally sustainable investments.
Additional non-financial information is made available on the Group website, informing our stakeholders of our commitments, actions and performances in the social and environmental spheres, which also underline our support for the United Nations Sustainable Development Goals.
Over the years, the commitments and the results achieved by the Generali Group have improved the ratings assigned by the main agencies in the ESG (environmental, social and governance) performances and have led to the inclusion of the Group in important international sustainability indices.
We report in line with the core principles of balance, comparability, accuracy, clarity, timeliness and reliability, and identify our stakeholders according to the AA1000 standard.
The Annual Integrated Report is in accordance with the criteria of the International <IR> Framework issued by International Integrated Reporting Council, and is in line with the 2021 priorities on non-financial information by European Securities and Market Authority (ESMA) and considers the TCFD recommendations and the Guidelines on non-financial reporting of the European Commission as for the environmental matters. Furthermore, for the disclosure of non-financial matters envisaged by leg. decree 254/2016 the Annual Integrate Report uses selected Sustainability Reporting Standards of the GRI and indicators of the GRI G4 Financial Services Sector Disclosures.
We also publish a GRI Content Index, providing an overview of our sustainability disclosures included in the Annual Integrated Report and in our website. Our reporting has been prepared in accordance with the GRI Standards: Core option.
Keeping abreast on the sustainability reporting landscape is very important for the Group. In doing so, we can ensure that we are meeting the needs of our various stakeholders and communicating effectively to all of these groups. Since last year, Generali has chosen to map its existing disclosures to that of SASB’s Insurance Sector Standards (Sustainability Accounting Standards Board). You can find our assessment of this mapping in our SASB Index.
DATA AND INFORMATION
The information and data mainly refer to the fiscal year that ended on 31 December 2021. To guarantee the comparability of the most significant indicators over time and to enable readers to compare our results, the current values are compared against those of the previous period using graphics and tables.
The information refers to the Group’s consolidation scope unless otherwise specified in the notes.