Environmental Policy and Environmental Management System

The Generali Group seeks to make a positive contribution to sustainable development by managing and reducing the direct and indirect environmental impact of its activities.

Environmental Policy and Environmental Management System

Protecting the environment as a primary asset is one of the key values of the Generali Group, which seeks to tailor its choices in such a way as to reconcile business initiative with the needs of the environment.

In order to honour this commitment, in 2009 the Parent Company’s Board of Directors approved the Environmental Policy of the Generali Group. This document, which is applicable to 100% of the employees, contains the guiding principles that the Group adheres when managing all significant instances of environmental impact stemming from its corporate activities. More specifically, the Environmental Policy defines the objectives and commitments that shape the decisions and actions of the Group with the aim of positively contributing to sustainable development. The identified objectives refer both to direct environmental impact, resulting from the Group’s insurance and financial activities, and to indirect impact, related to the procurement, planning and distribution of insurance and financial products and to institutional investment activities.

In order to pursue the abovementioned objectives, the Group has implemented a Group Environmental Management System (EMS) that respects the requisites of the ISO 14001 standard. The main goal of the System is to manage the most significant environmental aspects, implementing the Environmental Policy.

Over 70 Group company sites in six countries (Italy, Austria, France, Germany, Spain and Switzerland) are involved in the implementation of the EMS, and these are joined by a further 245 local offices in Spain for an overall surface area of around 850,000 m3. The System covers 39.1% of the Group's workforce and 80.4% of its overall gross direct premiums.

With the aim of implementing and maintaining the objectives contained in the Environmental Policy, specific targets were established that the countries involved in the EMS made a commitment to meeting during the 2010-2012 three-year period. The initial values to which the targets refer are those reported at 31 December 2009.

The table below outlines the objectives and targets that the Group set itself and the results achieved, highlighting whether or not the established goals were met.

Energy5% reduction in per capita electricity consumption-6.9%
 Introduction of electricity from renewable sources77.9% compared with
35.7% in 2009
Paper5% reduction in total paper consumption-7.6%
 10% increase in the amount of ecological paper90.8% compared with
37.7% in 2009
Water5% reduction in per capita water consumption-0.1%X
gas emissions
10% reduction in emissions from Scope1 (heating fuels and
kilometres travelled by company fleet) and Scope2
(electricity and district heating)
Waste10% increase in separate waste collection76.1% compared with
69.3% in 2009
Introduction of environmental aspects s in suppliers’
494 suppliers with
environmental policies
and/or certification
Development and enhancement of the range of ‘green’
insurance and financial products/services
Premiums for insurance
products with
environmental value
amounted to 1,554.2
million euros compared
to 203.8 million euros
in 2009
sustainable investments
Exclusion of non eco-sustainable investments according to
the Ethical Guidelines of the Group
No exposure
since 2009

In order to develop a more extensive database on which to base decisions regarding areas for improvement, the general objective of extending the scope of environmental accountability, both in terms of countries/companies and indicators, was also established.

The performances were good in all areas apart from water consumption and the increase in the amount of separately collected waste. It wasn't possible to meet the first objective because of the various leaks in the pipes at some sites in previous years, whilst the second objective wasn't met because the significant improvement in the gathering of data regarding the mixed waste collection, which was greater than the increase in separately collected waste, had a negative effect on the overall figure.

In the first months of 2013, following the verification of the results attained in the first three years of environmental management, new objectives and targets were set for the 2013-2015 three-year period.

The 2010-2012 objectives and targets were met thanks to the various initiatives launched, which are contained in the Group Environmental Programme. This programme outlines the specific objectives and targets that every country in the EMS has committed to meeting in order to contribute to achieving the Group's objectives and targets.

The System is supported by an organisational structure made up of the EMS Review Committee and the EMS Committee. The EMS Review Committee reviews the System once a year and can follow this up by proposing changes to the Environmental Policy, to the Group's objectives and targets, and to other elements of the EMS, in line with its goal of continuous improvement. The EMS Committee, meanwhile, is the operational body responsible for meeting the Group's environmental objectives. It consists of the Group EMS representative and representatives of the EMS of the individual countries involved in the project aimed at implementing an environmental management system within the Group.
The Corporate Social Responsibility department is tasked with coordinating the Committees and drafting documentation for the System at Group level.

Furthermore, in certain countries, there are national support structures which have purely environmental responsibilities.

In 2012 the implementation of the System continued with the launch of the audit by the Group Internal Audit department, which verified the correct and complete implementation of the provisions contained in the Group's procedures in Italy also through checks on the existence of suitable operating processes and procedures; in this context, there was also an analysis of the processes implemented for the collection of the data and information required to monitor the results achieved in relation to the objectives of the EMS. Checks were also made on the existence and effectiveness of the process of transposing the EMS objectives defined at Group level, particularly as regards the phase of defining the actions to be taken to meet these goals.

The correct implementation of the EMS and the specific meeting of its objectives are guaranteed by periodic monitoring and an information system that produces sixmonthly reports and an annual report entitled Inventory of greenhouse gas (GHG) emissions of the Generali Group which, with reference to the EMS, quantifies, analyses and accounts for the Group's GHG emissions in a clear, detailed and transparent way.
The Certification Body RINA Services S.p.A. awarded the Group certification, in accordance with the ISO 14064 standard, for its GHG emissions Inventory with regard to direct emissions (Scope1) and indirect emissions from energy consumption (Scope2) relating to 2011 and 2012.