GRI content index

GRI 3.1 guidelines - Global Compact principles

PROFILE

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
1. Strategy and analysis
1.1 Statement from the most senior decision-maker of the organization about the relevance of sustainability to the organization and its strategy. fully   http://www.generali.com/Sustainability
1.2 Description of key impacts, risks, and opportunities. fully  
2. Organizational profile
2.1 Name of the organization. fully  
2.2 Primary brands, products, and/or services.
fully  
2.3 Operational structure of the organization, including main divisions, operating companies, subsidiaries, and joint ventures. fully   Corporate Governance and Share Ownership Report , p. 293-295
Management Report and Consolidated Financial Statements 2012, p. 226-247
2.4 Location of organization's headquarters. fully   http://www.generali.com/Sustainability/Contacts
2.5 Number of countries where the organization operates, and names of countries with either major operations or that are specifically relevant to the sustainability issues covered in the report. fully   Management Report and Consolidated Financial Statements 2012, p. 247-248
2.6 Nature of ownership and legal form. fully   Corporate Governance and Share Ownership Report 2012, p. 266-269
2.7 Markets served (including geographic breakdown, sectors served, and types of customers/beneficiaries). fully   Management Report and Consolidated Financial Statements 2012, p. 34-37
2.8 Scale of the reporting organization. fully  
Management Report and Consolidated Financial Statements  2012, p. 99
2.9 Significant changes during the reporting period regarding size, structure, or ownership. fully   Management Report and Consolidated Financial Statements 2012, p. 11, 222-223
Corporate Governance and Share Ownership Report 2012, p. 291-293
2.10 Awards received in the reporting period. fully   Information on other awards received by the Group companies is available on their websites.
3. Report parameters
3.1 Reporting period (e.g., fiscal/calendar year) for information provided. fully   Quantitative information is as at 31 December 2012 whereas qualitative information may also refer to events after that date.
3.2 Date of most recent previous report (if any). fully   The most recent previous Sustainability Report, that was approved by the Board of Directors of the Parent Company and later published on the Group website, dates at May 2012.
3.3 Reporting cycle (annual, biennial, etc.). fully   The reporting cycle is annual.
3.4 Contact point for questions regarding the report or its contents. fully   http://www.generali.com/Sustainability/Contacts
3.5 Process for defining report content. fully  
3.6 Boundary of the report (e.g., countries, divisions, subsidiaries, leased facilities, joint ventures, suppliers). fully  
3.7 State any specific limitations on the scope or boundary of the report. fully  
3.8 Basis for reporting on joint ventures, subsidiaries, leased facilities, outsourced operations, and other entities that can significantly affect comparability from period to period and/or between organizations. fully  
3.9 Data measurement techniques and the bases of calculations, including assumptions and techniques underlying estimations applied to the compilation of the Indicators and other information in the report.
fully  
3.10 Explanation of the effect of any re-statements of information provided in earlier reports, and the reasons for such re-statement (e.g., mergers/acquisitions, change of base years/periods, nature of business, measurement methods). fully  
3.11 Significant changes from previous reporting periods in the scope, boundary, or measurement methods applied in the report. fully  
3.12 Table identifying the location of the Standard Disclosures in the report.
fully  
3.13 Policy and current practice with regard to seeking external assurance for the report. fully  
4. Governance, commitments, and engagement
4.1 Governance structure of the organization, including committees under the highest governance body responsible for specific tasks, such as setting strategy or organizational oversight.
fully  
4.2 Indicate whether the Chair of the highest governance body is also an executive officer. fully  
4.3 For organizations that have a unitary board structure, state the number and gender of members of the highest governance body that are independent and/or non-executive members. fully  
4.4Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body.
fully Articles of Association, Art. 17 available on http://www.generali.com/Governance
4.5Linkage between compensation for members of the highest governance body, senior managers, and executives, and the organization's performance.fully 
4.6Processes in place for the highest governance body to ensure conflicts of interest are avoided.fully 
4.7Process for determining the composition, qualifications, and expertise of the members of the highest governance body and its committees, including any consideration of gender and other indicators of diversity.fully Corporate Governance and Share Ownership Report 2012, p. 275-277
4.8Internally developed statements of mission or values, codes of conduct, and principles relevant to economic, environmental, and social performance and the status of their implementation.fully 
4.9Procedures of the highest governance body for overseeing the organization's identification and management of economic, environmental, and social performance, including relevant risks and opportunities, and adherence or compliance with internationally agreed standards, codes of conduct, and principles.fully The Sustainability Report of the Group as well as Group codes, policies and their updates are subject to the approval of the Board of Directors of the Parent Company.
4.10Processes for evaluating the highest governance body's own performance, particularly with respect to economic, environmental, and social performance.fully Corporate Governance and Share Ownership Report  2012, p. 281-282
4.11Explanation of whether and how the precautionary approach or principle is addressed by the organization.
fully 
4.12Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses.fully 
4.13Memberships in associations (such as industry associations) and/or national/international advocacy organizations.fully The Generali Group provides routine membership dues and views memberships in associations as strategic.
4.14List of stakeholder groups engaged by the organization.
fully 
4.15Basis for identification and selection of stakeholders with whom to engage.
fully A Head Office working group, supported by some CSR consultants, adopted the AccountAbility1000 principles when defining and selecting the stakeholders i.e. those who make a direct contribution to the pursuit of the objectives of the Generali Group, allow it to be competitive on the market and affect the various activities.
4.16Approaches to stakeholder engagement, including frequency of engagement by type and by stakeholder group.
fully 
4.17Key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns, including through its reporting.fully The Charter of Sustainability Commitments, that is available on http://www.generali.com/Sustainability, considers both key topics raised through engagement of different Head Office departments and outcomes of various forms of dialogue and exchanges of opinion with Group stakeholders. 

ECONOMIC PERFORMANCE INDICATORS

Disclosure on management approach

Once identified its strenghts in a very strong brand, a widespread, diversified international presence, a significant total amount of premiums and assets, consolidated leadership in the life segment and solid performance in the non-life one, the Generali Group has developed a strategy aiming at maximizing profitability and creating value.
The Generali Group also takes special care of the climate change, considered as a source, on the one hand, of risks and, on the other, of opportunities, in conducting and developing its business. It analyses possible consequences connected with climate change over the short, medium and long term, in order to identify the risks against which it must find suitable mitigation measures and the opportunities for developing business and improving efficiency. Integration of climate protection prevention measures into the corporate strategies represents a specific commitment, clearly stated in the Group Environmental Policy.
As a provider of specific insurances covering losses from natural phenomena, specifically from atmospheric ones, the Group constantly monitors the evolution of the situation, both with regard to existing and emerging risks, using specific stochastic simulation models of natural phenomena, in order to ensure that its products and risk mitigation tools are always suitable to the contingent situation.
The attention to the topic of the climate change is confirmed by the Group adhesion to the CDP.
The Generali Group has always linked its growth to the development of the local communities where it operates and adopted employee policies that do not discriminate anybody and aim at enhancing local abilities, giving importance to the contribution of local people in terms of market knowledge. This approach is also adopted by companies recently acquired or newly created, whose workforce almost entirely numbers local employees, in the management positions as well.
As for the supplies, local suppliers are largely preferred.
Indirect economic impacts are mainly linked to corporate citizenship initiatives. In order to improve life conditions in the countries where Group companies operate, they themselves work together with local institutions and not-for-profit associations, providing one-shot or, most often, recurrent financial support for different public utilities (educational services, health services, social integration services, professional integration of the disabled, etc.) and/or for infrastructures such as schools, day care centres and health care centres. Zukunftsfonds in Germany represents a great, structured example of collaboration with local institutions and not-for-profit associations. In order to contribute to the alleviation of poverty among disadvantaged inhabitants and to provide access to basic insurance policies, especially health insurance ones, the Group has recently financed the launch of some business ventures and microinsurance initiatives in India, where it entered only few years ago.

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Economic performance
EC1. Core Direct economic value generated and distributed, including revenues, operating costs, employee compensation, donations and other community investments, retained earnings, and payments to capital providers and governments. fully  
Global Added Value (GAV) expresses the wealth generated by the Group's activities over the year for the various stakeholder categories. It is not, however, able to measure the benefits that the investments have on the economy and environment of reference. This indicator is calculated as the difference between total income (88,547.4 million euros at 31 December 2012) increased/decreased by the result of discontinued operations and total expenses (86,909.6 million euros at 31 December 2012) net of the cost for employees, agents and financial advisers, costs incurred for grants and sponsorships, and interest expense. At the end of 2012 GAV amounted to 12,730.7 million euros, distributed as follows:
-221 million euros to the Group (-1.7%)
588 million euros to shareholders (4.6%)
4,270.3 million euros to employees (33.5%)
5,435.3 million euros to agents and financial advisers (42.7%)
1,240.5 million euros to the State (9.7%)
1,372.7 million euros to providers of credit capital (10.8%)
44.9 million euros to the community (0.4%)
The tax rate of the main countries is reported in the Management Report and Consolidated Financial Statement 2012, p. 187.
EC2. Core Financial implications and other risks and opportunities for the organization's activities due to climate change.
fully 7

EC3. CoreCoverage of the organization's defined benefit plan obligations.fully Management Report and Consolidated  Financial Statement 2012, p. 180-182
EC4. CoreSignificant financial assistance received from government.
fully The Generali Group did not receive any significant financial assistance from government in 2012.
ASPECT: Market presence
EC5. AdditionalRange of ratios of standard entry level wage by gender compared to local minimum wage at significant locations of operation.fully1
EC6. Core Policy, practices, and proportion of spending on locally-based suppliers at significant locations of operation.
fully 
EC7. Core Procedures for local hiring and proportion of senior management hired from the local community at locations of significant operation.
fully6
ASPECT: Indirect economic impacts
EC8. CoreDevelopment and impact of infrastructure investments and services provided primarily for public benefit through commercial, in-kind, or pro bono engagement.
fully Initiatives result from assessments of community needs.
EC9. Additional Understanding and describing significant indirect economic impacts, including the extent of impacts.
fully 

ENVIRONMENTAL PERFORMANCE INDICATORS

Disclosure on management approach

Safeguarding the environment as a primary asset is one of the guiding values of the Generali Group, which is committed to gearing its own choices towards guaranteeing compatibility between economic initiatives and environmental requirements. Objectives and commitments with the aim of making a positive contribution to sustainable development are defined in the Environmental Policy of the Generali Group. Specific targets for both direct and indirect environmental impacts are defined in the document Group Objectives and targets for environmental improvement. Actions to work towards attaining the Group objectives and targets are described in the Environmental Programme.
The key environmental aspects are managed through an Environmental Management System (EMS) which complies with the requirements of the ISO 14001 standard and meets some ethical requirements. Such System currently involves six of the most important countries for corporate business, i.e. Italy, Austria, France, Germany, Spain and Switzerland.
The System is supported by an organizational structure in the Head Office that is composed of the EMS Review Committee and the EMS Committee, the mebers of which are also the Country EMS representatives. The task of coordinating these Committees and drafting documentation for the System at Group level is carried out by the Corporate Social Responsibility unit. Some countries have also national structures with solely environmental powers that support local Country CSR Committees in their activities.
The proper implementation of the EMS and the specific attainment of the objectives are guaranteed by periodic monitoring of several indicators which cover all of the most significant environmental aspects in terms of direct or indirect impact of the Group activities, i.e. electricity, water and paper consumption, waste disposal, corporate mobility, greenhouse gas emissions, products and services, procurement processes and investment activities. Data obtained feeds an internal information system which provides for a report for a review by the Top Management, in order to constantly assess the efficiency and effectiveness of the EMS with a view towards continual improvement. As to stress its interest in environmental issues, in particular in climate change one, the Group has adopted a responsible and transparent approach and decided to meet the ISO 14064-1 standard as for measuring and volountary reporting on GHG emissions, and to have direct and indirect emissions from energy consumption certified by and external body.

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Materials
EN1. Core Materials used by weight or volume. fully 8
Materials mean paper that the Generali Group purchases from external suppliers. Information on non-renewable and direct materials used is therefore not applicable to the financial sector.
EN2. Core Percentage of materials used that are recycled input materials.
fully 8, 9

ASPECT: Energy
EN3. CoreDirect energy consumption by primary energy source.
fully8
EN4. CoreIndirect energy consumption by primary source.fully8 Primary energy consumed in its production is not relevant for the core business of the Group.
EN5. Additional Energy saved due to conservation and efficiency improvements.fully8, 9
EN6. Additional Initiatives to provide energy-efficient or renewable energy based products and services, and reductions in energy requirements as a result of these initiatives.fully8, 9Reductions in the energy requirements of products and services cannot be quantified in the financial sector. The products of the Generali Group are mainly policies.
EN7. Additional Initiatives to reduce indirect energy consumption and reductions achieved.
fully8, 9
ASPECT: Water
EN8. Core Total water withdrawal by source.
fully 8  
EN9. AdditionalWater sources significantly affected by withdrawal of water.
fully8
The Group companies do not draw sufficient quantities of water to significantly affect water sources.
EN10. AdditionalPercentage and total volume of water recycled and reused.
fully8, 9
ASPECT: Biodiversity
EN11. CoreLocation and size of land owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas.fully8In Italy, an area of 110,675 m² in the Mogliano Veneto site is located within a zone subject to the Dese River restrictions pursuant to Art. 142 of Legislative Decree No.42/2004. This zone, designated as a park, has no protected species and no company activities are carried out there.
In Germany, an area of 8,800 m2 in the Bernried site where the training centre of Generali Deutschland is located is next to the natural reserve of Starnberger See (LSG00403.01). The activities run by the training centre do not impact on biodiversity.
EN12. CoreDescription of significant impacts of activities, products, and services on biodiversity in protected areas and areas of high biodiversity value outside protected areas.
fully8There are no significant direct and indirect impacts on biodiversity in the areas subject to restrictions.
EN13. AdditionalHabitats protected or restored.
not8Information required is not material for the core business of the Generali Group.
EN14. AdditionalStrategies, current actions, and future plans for managing impacts on biodiversity.not8Information required is not material for the core business of the Generali Group.
EN15. AdditionalNumber of IUCN Red List species and national conservation list species with habitats in areas affected by operations, by level of extinction risk.
not8Information required is not material for the core business of the Generali Group.
ASPECT: Emissions, effluents and waste
EN16. CoreTotal direct and indirect greenhouse gas emissions by weight.
fully8
EN17. CoreOther relevant indirect greenhouse gas emissions by weight.
fully8
EN18. Additional Initiatives to reduce greenhouse gas emissions and reductions achieved.fully7, 8, 9
EN19. CoreEmissions of ozone-depleting substances by weight.
not8Emissions of ozone-depleting substances are not measured, as immaterial for the Group activities.
EN20. Core NOx, SOx, and other significant air emissions by type and weight.
fully8LAir emissions for categories other than carbon dioxide, nitrous oxide and methane are not calculated, as immaterial for the core business of the Generali Group.
EN21. CoreTotal water discharge by quality and destination.
not8Discharged water is not measured, since water effluents from insurance-banking activities are similar to domestic sewage.
Only in Switzerland water is returned to the Lugano lake without harming the environment.
EN22. CoreTotal weight of waste by type and disposal method.
fully8
EN23. CoreTotal number and volume of significant spills.
not8The risk of potential spills of hazardous substances is not significant, when considering the insurance-banking activities of the Generali Group.
EN24. AdditionalWeight of transported, imported, exported, or treated waste deemed hazardous under the terms of the Basel Convention Annex I, II, III, and VIII, and percentage of transported waste shipped internationally.
not8Total weight of transported, imported, exported and treated hazardous waste are managed by suppliers of Group companies.
EN25. CoreIdentity, size, protected status, and biodiversity value of water bodies and related habitats significantly affected by the reporting organization's discharges of water and runoff.not8Discharged water from the Group activities washes into the urban sewage systems without significantly harming the environment.
ASPECT: Products and services
EN26. Core Initiatives to mitigate environmental impacts of products and services, and extent of impact mitigation.fully7, 8, 9
EN27. Core Percentage of products sold and their packaging materials that are reclaimed by category.
not8, 9There is no recycling and reuse system for the products in the Group.
ASPECT: Compliance
EN28. CoreMonetary value of significant fines and total number of non-monetary sanctions for non-compliance with environmental laws and regulations.
fully8From the information available in 2012, there are no fines or monetary sanctions imposed on Group companies for non-compliance with environmental laws and regulations.
ASPECT: Transport
EN29. AdditionalSignificant environmental impacts of transporting products and other goods and materials used for the organization's operations, and transporting members of the workforce.
fully8Environmental impacts of transportation used for logistical purposes are not relevant for the Group business.
ASPECT: Overall
EN30. Additional Spese e investimenti per la protezione dell’ambiente, suddivisi per tipologia.fully7, 8, 9

SOCIAL PERFORMANCE INDICATORS - LABOR PRACTICES AND DECENT WORK

Disclosure on management approach

The Group's employee policies, which are set out by the Group CEO, are characterized by enhancement of employees, professional development, protection of rights and respect for corporate values.
The principles and fundamental rights of employees are outlined in the Code of Conduct of the Generali Group and reiterated in the European Social Charter that are based on the Universal Declaration of Human Rights and the International Labour Organization's Declaration. All staff are given a formal written employment contract. Exploitation, forced or compulsory labour and child labour are not tolerated in any form. The Group also recognises the right of its employees to join a trade union, to appoint workers' representatives and to exercise the relative functions (e.g. the right of collective bargaining), in accordance with local regulations and practices.
The personal and professional growth of its employees and the improvement of their competencies are encouraged through intense training activities that are managed by the Generali Group Innovation Academy (GGIA) and developed as to guide training investment in accordance with the Group's objectives and strategies.
The Group values its employees and considers diversity as an opportunity for enrichment. The individual contribution to its success is recognized, also through remuneration based on the merit and defined in accordance with homogeneous criteria within the Group.
Employees regularly receive performance appraisal through appropriate methods, also with a view of developing their carrier.
The Generali Group ensures a work environment free of any kind of discrimination or harassment, promoting diversity and inclusion in the workforce, in the belief that cooperation between people with different culture, skills, perspectives and experiences is fundamental in attracting talent and to enable business growth and innovation.
The policies guaranteeing equal opportunities to specific categories such as women, the disabled, etc. aim at reducing possible barriers through actions that are defined with them.
The Group protects and guarantees working conditions that are respectful of individual dignity in safe, healthful working environments.

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Employment
LA1. Core Total workforce by employment type, employment contract, and region, broken down by gender.
completo   Employment number is not affected by significant seasonal variation.
LA2. Core Total number and rate of new employee hires and employee turnover by age group, gender, and region.
completo 6

LA3. Additional Benefits provided to full-time employees that are not provided to temporary or part-time employees, by significant locations of operation.
completo 
LA15. Core Return to work and retention rates after parental leave, by gender.completo All the Generali Group employees can make use of parental leave in accordance with local laws and regulations in force.
The Generali Group gathered and analysed information on employees who returned to work after parental leave ended and on employees who returned to work after parental leave ended who were still employed twelve months after their return to work. Such information is not significant, since the timing to return to work is different in each country and depends on individual choice. It is therefore difficult to connect data that refer to different groups and to calculate the rates required.
ASPECT: Labor/management relations
LA4. CorePercentage of employees covered by collective bargaining agreements.completo1, 3
LA5. CoreMinimum notice period(s) regarding significant operational changes, including whether it is specified in collective agreements.
completo3Most of the collective bargaining agreements include the notice period and/or provisions for consultation and negotiations.
ASPECT: Occupational health and safety
LA6. Additional Percentage of total workforce represented in formal joint management-worker health and safety committees that help monitor and advise on occupational health and safety programs.
completo1
LA7. CoreRates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities by region and by gender.completo1No information on indipendent contractors is given in the Sustainability Report, since this category is not relevant for the core business of the Group.
LA8. CoreEducation, training, counseling, prevention, and risk-control programs in place to assist workforce members, their families, or community members regarding serious diseases.completo1Information on workers who are involved in occuptational activities who have a high incidence or high risk of specific disease is not relevant for the financial sector.
LA9. Additional Health and safety topics covered in formal agreements with trade unions.
completo1
ASPECT: Training and education
LA10. Core Average hours of training per year per employee by gender, and by employee category.
completo 
LA12. AdditionalPrograms for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings.
completo http://www.generali.com/Careers/Training
The Generali Group is mainly in line with the European legislation on transition assistance programs to support employees who are retiring or who have been terminated.
LA13. AdditionalPercentage of employees receiving regular performance and career development reviews, by gender.completo 
ASPECT: Diversity and equal opportunity
LA13. Core Composition of governance bodies and breakdown of employees per employee category according to gender, age group, minority group membership, and other indicators of diversity.completo1, 6Directors of the Board of the Parent Company are 57.5 years old on average. Specifically, four directors (36.4%) - of whom three are women - age between 30 and 50 years old and seven directors (63.6%) - of whom one is a woman - age over 50 years old.
A director (9.1%) is of foreign nationality.
ASPECT: Equal remuneration for women and men
LA14. CoreRatio of basic salary and remuneration of women to men by employee category, by significant locations of operation.
completo1, 6

HUMAN RIGHTS

Disclosure on management approach

The Generali Group commits to ensure and promote fundamental human and labour rights in all its spheres of influence. Such commitment is stated in the Code of Conduct of the Generali Group, in the Ethical Code for suppliers of the Generali Group, in the Ethical Guidelines for Investments and in the European Social Charter. It is further confirmed by the support of the UN Global Compact initiative. The topic of human rights lies with the Group CEO.
Respect for human and labour rights is a top priority for the Group. Its main spheres of influence, where human rights may be violated, are employees and suppliers. As for the former, the risk is related to locations of companies and to employee policies adopted. Annually the Corporate Social Reponsibility unit monitors through questionnaires the prohibition of child, forced and compulsory labour, non-discrimination and freedom of association and collective bargaining in all Group companies. In order to create awareness of fundamental human rights, the Group offers a widespread training through an e-learning course that has so far involved almost 19,000 employees, among whom those working in countries where respect for human rights is not always guaranteed.
The risk of human rights violatation in the supply chain is related to locations and type of activities. Its assessment is started in 2012 with the aim of identifying the most risky countries and activities and starting their monitoring. As stated in the Ethical Code for suppliers, the Group requires the contractual partners to comply with all national and international applicable rules and regulations, including the International Labour Organization's Declaration and the Universal Declaration of Human Rights. It also requires them to aligh with the Group policies while performing business and to ensure compliance with all the levels of the relevant supply chain.
As an institutional investor, the Generali Group adopts Ethical Guidelines that forbid investment in financial instruments issued by companies that do not respect the fundamental human rights. On the one hand, it thus avoids being involved, through investments, in serious violations of human rights and, on the other, it persuades issuing companies to act responsibly. The Group set up a Council on Ethics, a consultative body for possible exclusion procedures from the investment universe of companies that violate the Group’s ethical criteria. Investments are constantly monitored and checks designed to prevent the acquisition of securities issued by excluded companies are made. A half-yearly report is sent to the Head Office’s Group Risk Management department.
Breaches or suspected breaches of human rights can be reported via mail or post to the Group Compliance department of Assicurazioni Generali, also anonymously, unless prohibited by local law. A dedicated line accessible via phone or web and managed by an external specialised and independent supplier is due to go online. Reports received are evaluated applying the procedures established by the Group Rules of the Code of Conduct.

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Investment and procurement practices
HR1. Core Percentage and total number of significant investment agreements and contracts that include clauses incorporating human rights concerns, or that have undergone human rights screening. completo  1, 2, 3, 4, 5, 6 Premiums paid by clients for all insurance contracts are invested in accordance with the Ethical Guidelines of the Group which forbid investments in financial instruments issued by companies that do not respect the fundamental human rights.
HR2. Core Percentage of significant suppliers, contractors and other business partners that have undergone human rights screening, and actions taken.
completo 1, 2, 3, 4, 5, 6

HR3. Core Total hours of employee training on policies and procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained.
completo 1, 2, 3, 4, 5, 6
ASPECT: Non-discrimination
HR4. Core Total number of incidents of discrimination and corrective actions taken. completo 1, 2, 6
ASPECT: Freedom of association and collective bargaining
HR5. Core Operations and significant suppliers identified in which the right to exercise freedom of association and collective bargaining may be violated or at significant risk, and actions taken to support these rights.
completo 1, 2, 3
ASPECT: Child labor
HR6. Core Operations and significant suppliers identified as having significant risk for incidents of child labor, and measures taken to contribute to the effective abolition of child labor.
completo 1, 2, 5
ASPECT: Forced and compulsory labor
HR7. Core Operations and significant suppliers identified as having significant risk for incidents of forced or compulsory labor, and measures to contribute to the elimination of all forms of forced or compulsory labor.
completo 1, 2, 4
ASPECT: Security practices
HR8. Additional Percentage of security personnel trained in the organization's policies or procedures concerning aspects of human rights that are relevant to operations.
non rendicontato 1, 2 Security services, that mainly concern night surveillance of the buildings, are provided by external organizations. There are no evidence on training provided by them.
ASPECT: Indigenous rights
HR9. Additional Total number of incidents of violations involving rights of indigenous people and actions taken. non rendicontato 1, 2 The risk of of violations involving rights of indigenous people is not significant, when considering the insurance-banking activities of the Generali Group.
ASPECT: Assessment
HR10. Core Percentage and total number of operations that have been subject to human rights reviews and/or impact assessments. completo  
ASPECT: Remediation
HR11. Core Number of grievances related to human rights filed, addressed, and resolved through formal grievance mechanisms. completo  

SOCIETY

Disclosure on management approach

The impacts of activities on local communities have not only an economic nature, i.e. those associated to job offer and purchase of goods and services from local suppliers, but mainly concern logistic and environmental aspects. The former are, in fact, linked to commutes and transfers for duty whereas the latter are due to both transfers and building management.
Before starting new activities – specifically, before entering new markets or moving a significant number of employees to new buildings, that are usually located in the same country or even in the same city – impacts from commutes in terms of their direct management or facilitation are carefully assessed.
The impact on the social fabric of the communities where Group companies operate is also taken into consideration. The Group interacts with the local communities through several cultural, educational, etc. initiatives as to create a collaborative mood to favour integration and to have positive effects on both Group companies and the communities where they operate. In the main cities the Group constantly works together with institutions as to promote new initiatives with the aim of reducing traffic and emissions from commutes.
An eco-friendly and economic management of the corporate mobility also contributes to limit the impact of operations on the communities.
As for the access to products and services, sales and claims settlement networks of the Group are widespread in several markets and in low-populated areas, too. The distributional diversification of the Group and the possibility of communicating by phone or internet with the companies, not only in case of underwriting but also in the claim settlement process, contribute to reduce barriers to access to services.
One of the Group goals is to provide those who would otherwise be excluded from the traditional market with insurance products. It is pursued through some specific microinsurance projects.
In its sphere of influence, the Generali Group is also committed to working against corruption in all its forms. The Group joins the UN Global Compact consistently with such commitment, that is stated in the Code of Conduct. It requires to all its stakeholders to conduct ethically as to counter corruption, provides suitable tools for the prevention of conduct in contrast with principles of correctness, lawfulness and transparency, and implements all measures against corruption. The isssue of the fight against corrruption is also in the Ethical Code for suppliers of the Generali Group and in the Ethical Guidelines for Investments.
As stated in the Group Rules of the Code of Conduct, the Group does not support any event or initiative whose aim is mainly or exclusively of a political nature. Furthermore, it refrains from any direct or indirect pressure on political representatives and does not make any contribution to trade unions or associations in order to apply political pressure.
The Group recognizes free competition in the market as a crucial factor for growth and constant business improvement. It bases its competitiveness on the quality of products and services provided and not on competitors’ discredit.
As stated in the Code of Conduct, the Group conducts business in compliance with law, internal regulations and professional ethics.

GRI INDICATORS DESCRIPTION REPORTED
GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Community
SO1. Core  Percentage of operations with implemented local community engagement, impact assessments, and development programs. fully  1, 2, 3, 4, 5, 6 In 2008 the German companies of the Generali Deutschland group established the Generali Future Fund focused on the demographic change. The Fund supports more than 30 projects each year with the aim of promoting the commitment of the generation 55plus in activities of active citizenship. It also assesses the social impact of the projects through the SROI (Social Return on Investments).
DMA SO
In 2012 a new environmental analysis was conducted on the main buildings of the Generali Group companies in order to identify the significant impacts of insurance and financial activities on the environment. Objectives and targets refer to such impacts with a view towards continual improvement.
Information is mainly qualitatively reported. As for mobility, the objective of the Group is to reduce employee travel as much as possible, above all reducing the use of private vehicles and increasing the use of public transport in order to reduce air and noise pollution in cities. All companies are, for example, compliant with travel policies based on criteria assessing environmental impacts.
SO9. Core  Operations with significant potential or actual negative impacts on local communities. fully  
When considering the Group core activities, the negative impacts on local communities are the following: economic impacts, i.e. those associated to job offer and purchase of goods and services from local suppliers; logistic impacts, i.e. those linked to commutes and transfers for duty; and environmental impacts, i.e. those due to transfers and building management (pollution risk).
SO10. Core  Prevention and mitigation measures implemented in operations with significant potential or actual negative impacts on local communities. fully
The Group is committed to a sustainable management in the environmental field (see chapter Environment and Climate Change) and in the social one.
FS13. CoreAccess points in low-populated or economically disadvantaged areas by type.not Sales and claims settlement networks of the Generali Group are widespread in several markets and also in low-populated areas. The possibility of communicating by phone or internet with the Group companies in case of underwriting and in the claim settlement process also contribute to reduce barriers to access to services.
FS14. CoreInitiatives to improve access to financial services for disadvantaged people.fully The websites of the Generali Group companies are in accordance with the Group web guidelines which comply with the international standards defined by Web Accessibility Initiatives (WAI). The guidelines also provide some suggestions about usability and accessibility for the disabled, such as increasing font size, increasing contrast of font and page background, suitable colour choices for font and background, keyboard navigation, automatic underlining of all links, limited use of flash animation, HTML version of the press releases, communications and sections, thereby guaranteeing access to the greatest possible number of users and avoiding all forms of discrimination.
ASPECT: Corruption
SO2. Core Percentage and total number of business units analyzed for risks related to corruption.
fully 10
SO3. CorePercentage of employees trained in organization's anti-corruption policies and procedures.
fully10
SO4. CoreActions taken in response to incidents of corruption.fully10
There is no evidence of concluded legal cases regarding corrupt practices brought against the Group companies or their employees.
ASPECT: Public policy
SO5. Core Public policy positions and participation in public policy development and lobbying.
fully 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 The Generali Group has relations with public institutions mainly through national trade associations.
SO6. CoreTotal value of financial and in-kind contributions to political parties, politicians, and related institutions by country.fully10
ASPECT: Anti-competitive behavior
SO7. Additional  Total number of legal actions for anti-competitive behavior, anti-trust, and monopoly practices and their outcomes.
fully
In 2012, 1,465 legal actions were initiated against Group insurance companies (1,637 in 2011) amounting to 1.7 million euros (just over 2.4 million euros in 2011), while no legal actions were brought against Group banks.
There is no evidence of the outcomes of such actions.
ASPECT: Compliance
SO8. Core  Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations.
fully 1, 2 In 2012 Group companies were assessed a total of 462 fines (640 in 2011) amounting to just over 6.2 million euros (nearly 7.2 million euros in 2011). Of these, 152 (253 in 2011) amounting to about 2.6 million euros (nearly 2.9 million euros in 2011) involved sanctions for non-compliance with laws and regulations other than those reported in the EN28 and PR9 indicators.
Fines assessed by national insurance regulatory authorities clearly predominate (419 fines amounting to nearly 4.9 million euros). 

PRODUCT RESPONSIBILITY

Disclosure on management approach

Customer satisfaction plays a key role in the strategic vision of the Group that is committed to developing its products and services according to a customer-driven business approach. The ability of the Group to constantly meet actual customer needs and expectations is a prerequisite for creating and maintaining trust in order to build lasting relationships. Many initiatives of dialogue with customers are periodically organized as to learn needs and satisfaction with regard to products and services provided.
Managing relations with customers gains in importance and sales force therefore play a key role in achieving commercial strategies. The Group provides sales force with specific training courses, adequate support and guidelines on how they should go about their work.
Contracts and communications with customers are based on the principles of correctness and honesty, professionalism, transparency and cooperation with a view to finding solutions that are most suited to their needs. Information provided to customers before any contract is signed is complete, transparent and comprehensible so they can make conscious purchase choices. To this end, Group companies implement information and training programmes with the aim of disseminating insurance and financial know-how.
As for marketing communication, the Group respects the fundamental ethical values, maintaining the veracity of its contents and repudiating the use of coarse or offensive messages, in keeping with the provisions in the Code of Conduct of the Generali Group and the directives issued by the relevant control authorities.
In accordance with national legislation, the Generali Group guarantees the confidentiality and security of data and its processing through methods denying access to third parties, unless required for corporate aims or by a writ. Group management system and procedures to customer privacy protection are adequate.

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
FS15. Core Policies for the fair design and sale of financial products and services.
fully
Emerging needs, the results of market analyses and any new features introduced through laws are considered when developping, distributing and providing products and services. These elements have led to the introduction of products with particular social and environmental value and the use of new channels at the service of customers. Moreover, sales force is constantly and adequately trained in order to garantee the quality of the services provided by the Group.
ASPECT: Customer health and safety
PR1. Core Life cycle stages in which health and safety impacts of products and services are assessed for improvement, and percentage of significant products and services categories subject to such procedures.
not 1
Products/services impacting on health and safety are not distributed/provided.
PR2. Additional Total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services, by type of outcomes.
not 1
Products/services impacting on health and safety are not distributed/provided.
ASPECT: Product and service labelling
PR3. CoreType of product and service information required by procedures, and percentage of significant products and services subject to such information requirements.
not8Products and services are not labelled.
PR4. Additional Total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labeling, by type of outcomes.
not8Products and services are not labelled.
PR5. Additional Practices related to customer satisfaction, including results of surveys measuring customer satisfaction.
fully 
FS16. CoreInitiatives to enhance financial literacy by type of beneficiary.fully 
ASPECT: Marketing communications
PR6. CorePrograms for adherence to laws, standards, and voluntary codes related to marketing communications, including advertising, promotion, and sponsorship.
fully
The Generali Group reviews codes and voluntary standards when necessary.
The Generali Group does not sell products that are banned in certain markets or the subject of stakeholder questions or public debate.
PR7. AdditionalTotal number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications, including advertising, promotion, and sponsorship, by type of outcomes.
fully1In 2012 no incidents of non-compliance with regulations or voluntary codes were reported concerning marketing communications of Group companies.
ASPECT: Customer privacy
PR8. Additional
Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data.fully In accordance with national legislation, Generali Group companies have adopted suitable technical, organisational and operational measures to guarantee the confidentiality and security of personal (and at times sensitive) data pertaining to potential and actual clients and other stakeholders (employees, suppliers and others). Only personal data that are strictly necessary to provide the required services and to achieve the objectives laid out in specific privacy notices are collected, with particular attention paid to sensitive data, which are gathered and processed only where the use of anonymous data is not deemed viable.
In 2012 companies in the Ssustainability Report scope received from clients and recognized as legitimate 288 complaints regarding breaches of customer privacy. Reasons lain in 44 leaks, 5 thefts and a loss of customer data as well as in 238 undesired commercial communications, improper data transmission and incorrect use of data.
In Italy, Germany and France also the Privacy Authorities guaranteeing the protection of personal data and similar regulatory bodies recognized as legitimate 11 complaints from clients about undesired commercial communications and incorrect use of data.
ASPECT: Compliance
PR9. Core  Monetary value of significant fines for non-compliance with laws and regulations concerning the provision and use of products and services.
fully1, 6274 fines amounting to about 3.6 million euros were issued to the Group companies in 2012 for non-compliance of products and services with laws and regulations in force at various levels: local, regional, national and international.

PRODUCT AND SERVICE IMPACT

Disclosure on management approach

By their very nature, insurance products have a social value because they provide protection for clients and meet their pension needs. Their social role becomes even more crucial against a general gradual reduction in public services.
Among the range of products and guarantees offered there are also some with particular social or environmental value that meet specific needs of the disabled, seriously ill people, immigrants, etc., that cover facilities that produce renewable energy, or that reward the virtuous conduct of the policyholders. Even if they represent a very small part of the corporate business, they contribute to raise awareness and persuade customers to act responsibly.
The Group plays on investments of technical reserves that are in line with the guidelines complying with the Principles for Responsible Investment (PRI), sponsored by ONU, as to qualify all its products as ethical. Through investments according to such criteria, the Group ensures its clients not only the risk protection and adequate financial returns but also respect for fundamental human rights and environmental protection.
The management system provides for constant monitoring of investments, including checks designed to prevent the acquisition of securities issued by companies that do not meet ethical criteria.
Believing that there has to be consistency between investment policy and voting policy, Generali Investments has integrated ESG criteria into its own voting policy. The purpose is to establish a real dialogue on environmental, social and governance aspects with company directors and managers and to encourage the consideration of such topics in the performance of their activities.
The Generali Group is then committed to introducing systematic audits on several CSR activities from the Group Internal Audit (GIA) department. Specifically, the internal audit on the Environmental Management System (EMS) of the Group was conducted in the second half of 2012. As for Country Italy, the GIA department verified the effective implementation of the System and its procedures and the effectiveness in pursuing the objectives defined by the Group Environmental Policy.

GRI INDICATORS DESCRIPTION REPORTED GLOBAL COMPACT PRINCIPLES CROSS-REFERENCE/DIRECT ANSWER
ASPECT: Product portfolio
FS1.  Core Policies with specific environmental and social components applied to business lines. fully
As described in the Environmental Policy, the Generali Group has the objective of providing incentives for clients to adopt eco-sustainable behaviour by offering insurance and investment products that promote environmental awareness. The Group also gives importance to issues related to climate change that can be both a risk and an opportunity for the conduct and development of its business. In-depth information on climate change risks and opportunities is available in the SR 2012.
Moreover, the Group aims at including, through microinsurance, members of society who would otherwise be excluded from the insurance market. Thanks to this tool, the poorest sections of population are, for example, provided with health insurance products.
Information on products with particular social and environmental value distributed by the Generali Group is reported in the SR 2012.
FS2. Core Procedures for assessing and screening environmental and social risks in business lines. fully
Information on the Risk Management System is reported in the Risk Report, to which a specific section of the Consolidated Financial Statements 2012 is devoted.
If significant, social and environmental risks in insurance contracts are considered at the underwriting time and they influence not only on the pricing but often represent also a requirement for obtaining the cover. Compliance with laws in force is essential; moreover, the presence of measures aiming at reducing the risk of claims may be required to obtain the cover and led, in any case, to lower premiums. Specifically, as for significant risks, inspections are common to identify measures to be adopted for an efficient and effective risk management. As for life and health products, the risk assessment is based on a detailed questionnaire on medical history and it is sometimes integrated with a thorough medical examination.
FS3. CoreProcesses for monitoring clients' implementation of and compliance with environmental and social requirements included in agreements or transactions.fully In the insurance contracts statements of the client on the risk status made ​​at the time of signing the contract are binding: they are verified when the claim occurs and, if they are not true, the compensation for the loss is reduced or even not due in cases where the cover would not have been given. Monitoring is not applicable because the relevant risk in insurance contracts is assessed at the underwriting time.
FS4. CoreProcess(es) for improving staff competency to implement the environmental and social policies and procedures as applied to business lines.fully 
FS5. CoreInteractions with clients/investees/business partners regarding environmental and social risks and opportunities.fully Information is qualitatively reported.
FS6. CorePercentage of the portfolio for business lines by specific region, size (e.g. micro/SME/large) and by sector.fully Management Report and Consolidated Financial Statements 2012,  p. 139
The geographical area covered includes the main countries where the Group operates.
FS7. CoreMonetary value of products and services designed to deliver a specific social benefit for each business line broken down by purpose.fully Premiums from insurance products with particular social value amount to more than 1,130 million euros and they represent 1.6% of total gross written premiums.
FS8. CoreMonetary value of products and services designed to deliver a specific environmental benefit for each business line broken down by purpose.fully Premiums from insurance products with particular environmental value amount to more than 1,484 million euros and they represent 2.1% of total gross written premiums.
ASPECT: Audit
FS9. CoreCoverage and frequency of audits to assess implementation of environmental and social policies and risk assessment procedures.fully
It is planned to carry out an internal audit on the Group Environmental Management System (EMS) annually.
The Group Internal Audit carried out the audit using the ISO 19011 standard and noted some procedural non-compliance with the standard that will be filled using corrective actions by 2013.
ASPECT: Active ownership
FS10. CorePercentage and number of companies held in the institution's portfolio with which the reporting organization has interacted on environmental or social issues.fully

FS11. CorePercentage of assets subject to positive and negative environmental or social screening.fully
No screen is required by law.
FS12. CoreVoting polic(ies) applied to environmental or social issues for shares over which the reporting organization holds the right to vote shares or advises on voting.
fully The 2012 voting policy is available from the  www.generali-investments-europe.com website.