Better Health for All
0
Generali's principal goods and services, as an insurance provider, have no significant direct positive or negative health impact. The company's operations contribute to the mitigation of climate change and the resilience and adaptation of communities to its related events, which generates positive health externalities.
1
Several KPIs, such as pharma patent flexibility, nutrition and food safety, addiction mitigation, and clinical trial ethics, are not applicable to Generali's business model.
2
No specific evidence was found for other health-related KPIs.
3
Fair Money & Economic Opportunity
-40
Generali provides free workshops and training courses as part of its wellbeing calendar.
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In 2024, its financial literacy program supported 4,292 people through 16 NGOs across Italy, Germany, Spain, France, Poland, and India.
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The company states that easy accessibility to data enables the simplification of user experiences and aims to provide customers with complete and easily accessible information on products and services.
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However, its products require a high school level reading (grade 11-12). The Human Safety Net (THSN) operates in 26 countries and has expanded its reach to over 800 locations worldwide, targeting individuals in rural or hard-to-reach areas.
4
Fair Pay & Worker Respect
40
In 2024, Generali's CEO to median employee pay ratio was 53:1.
1
In the same year, 67.9% of employees were covered by collective bargaining agreements.
2
The rate of recordable work-related accidents in 2024 was 0.94 per 200,000 working hours, with 1 fatality, and 100% of employees are covered by a health and safety management system.
3
Generali achieved its strategic target of zeroing the Equal Pay Gap on base salary, reaching 0.35% in 2024, while the median Gender Pay Parity Gap was 14.2%.
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The employee engagement rate was 83% in 2024, with a 90% participation rate in the Global Engagement Survey.
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The voluntary employee turnover rate was 8.8% in 2024.
6
In 2024, 5,511 out of 86,851 employees were temporary, representing 6.3% of the total workforce.
7
The company was sanctioned with a fine of $2,236,334 in 2022 for anti-competitive practices in Romania, which is not a labor violation.
8
Fair Trade & Ethical Sourcing
-20
Generali requires relevant suppliers to commit to acting in accordance with the Generali Group’s policies on ethics, integrity, fairness, transparency, fair competition, occupational safety, and environmental protection, as detailed in the Ethical Code for Suppliers.
1
In 2024, an ESG Assessment Service was activated for suppliers with a turnover exceeding 100,000 euros, covering approximately 84% of the purchase value.
2
The Generali Ethical Code for Suppliers establishes ethical principles and sustainability standards, expecting suppliers to comply with national and international regulations, including the ILO declaration and the United Nations Universal Declaration of Human Rights.
3
Relations with contractual partners are governed by the Generali Group Code of Conduct and the Ethical Code for Suppliers.
4
Honest & Fair Business
0
Generali incurred ethics-related regulatory fines totaling approximately $10.62 million in the past three years. This includes a €5 million ($5.52 million) fine from France's ACPR for internal money laundering and terrorism financing control issues prior to 2012,
1
and a €5 million ($5.1 million) fine from Italy's AGCM for unfair commercial practices, which is being appealed.
2
The company has a formal whistleblowing policy with a 24/7 secure and confidential web platform that accepts anonymous reports and includes an anti-retaliation policy.
3
In 2024, 187 reports were received, 208 allegations were closed, and 84 were substantiated, leading to 16 dismissals, 47 warnings, and 21 other remedial measures.
4
No substantiated bribery and corruption allegations were reported.
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Investigations are normally completed within three months.
6
The company had one financial restatement in 2022 due to the bancassurance JVs of Cattolica being considered a disposal group held for sale under IFRS 5.
7
For a subsidiary, the average time to settle individual claims was 6.12 days in 2024-25.
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Generali maintains a zero-tolerance approach to financial crimes, bribery, and corruption, with a comprehensive policy, annual training, and a general gift limit of €150, or €20 in India.
9
The company uses external auditors for limited assurance on its statements and for the statutory audit of its accounts.
10
Kind to Animals
-10
Generali S.p.A. is an insurance company, and many animal welfare KPIs are not directly applicable to its core operations. The company supports resolutions advocating for the adoption of cage-free eggs, but there is no evidence of direct sourcing of animal products, therefore, this KPI is N/A.
1
Generali's Responsible Underwriting Group Guideline identifies 'Animal testing' for non-pharmaceutical products as a key concern, and 'Fishing and livestock' as a sensitive sector with animal welfare concerns, but as an insurance company, it does not conduct animal testing or animal agriculture operations, making these KPIs N/A.
2
The company commits to working with governments and other stakeholders to promote sustainability, and participates in public initiatives to drive positive change, but this engagement is broad and not specifically focused on advocating for higher animal welfare standards, placing it in the tier for supporting basic welfare reforms when industry consensus exists.
3
No War, No Weapons
20
Generali has a formal policy, effective July 2022, to exclude investments in companies involved in controversial weapons, including cluster bombs, anti-personnel landmines, nuclear, biological, and chemical weapons, and depleted uranium.
1
This policy is based on Italian Law no. 220/2021.
2
For new investments, the company will not invest in companies meeting these exclusion criteria.
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For existing investments in such companies, Generali will either hold to maturity or opportunistically sell.
4
The company reports zero exposure to controversial weapons in its investment portfolio for 2022, 2023, and 2024.
5
The policy is reviewed annually by the Board of Directors, and the CEO ensures its implementation.
6
Generali also references alignment with the UN Guiding Principles on Business and Human Rights and the UN Global Compact.
7
Planet-Friendly Business
-30
Generali's total Scope 1, 2, and 3 greenhouse gas emissions were 75,322 tCO₂e in 2024, representing a 13.66% annual decline from 2023.
1
The company sourced 94.5% of its electricity from renewable sources in 2024.
2
Generali has committed to reducing GHG emissions from operational activities by 60% on all Scopes from 2019-2030,
3
with targets aligned with 1.5°C trajectories under frameworks such as the Science Based Target initiative (SBTi).
4
The company aims for net-zero GHG emissions across its insurance, investment, and operational activities by 2050,
5
with a target of net-zero for its own operations by 2035.
6
In 2023, 4.9% of capital expenditure was aligned with the EU Taxonomy.
7
The waste recycling rate was 77.0% in 2024.
8
In 2023, €11.3 billion of real estate assets had high-level green certifications (LEED Gold or superior, BREEAM very good or superior).
9
Generali supports the TCFD
10
and integrates climate scenario analysis using IPCC and NGFS sources.
11
The company has a formal zero-deforestation policy
12
and excludes issuers responsible for severe violations linked to deforestation from investments.
13
Generali supports the Investing in a Just Transition project
14
and the idea of Just Transition for workers and communities.
15
The company recognizes the importance of biodiversity and mitigates impacts through exclusion, engagement, and voting,
16
but specific programs are minimal. Generali has not invested significant CapEx related to coal, oil, and gas, considering the risk of stranded assets negligible.
17
The company plans to invest an additional €1.1 billion in its climate strategy by 2030, building on €500 million invested between 2018 and 2023,
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for climate solutions that contribute to decarbonization and climate resilience.
19
Respect for Cultures & Communities
0
No specific quantitative data or concrete evidence was found in the provided articles to assess Generali S.p.A. against the defined KPIs for 'Respect for Cultures & Communities'. The articles primarily focus on general human rights policies, ESG investment strategies, and internal diversity (gender), without providing metrics such as formal partnerships with indigenous groups, local community reinvestment percentages, cultural appropriation incidents, cultural impact assessment protocols, local employment ratios, community-specific grievance mechanisms, cultural preservation investments, or cultural sensitivity training completion rates. While some articles mention 'Code of Conduct training' for employees, this is not explicitly defined as 'cultural sensitivity training' as required by the rubric.
1
Safe & Smart Tech
20
Generali has a comprehensive AI Ethics Framework, including Trustworthy AI Principles (Safeness, Accessibility, Sustainability, Human Centricity, Fairness), with dedicated oversight, training, an ethics-by-design approach, and a central tracking system for AI initiatives.
1
The company holds ISO/IEC 27001:2013 certification for its Information Security Management System and ISAE 3402 Type 2 for IT controls in financial reporting.
2
Generali invested €1.2 billion in AI and technology from 2022-2024, with a planned €1.2-1.3 billion for 2025-2027.
3
The company provides mandatory and specific security training, including phishing simulations, and reported 84% of employees upskilled in 2024, with a target of ≥90% by 2027.
4
Generali applies data governance, data quality, and record-keeping standards for AI systems to ensure traceability and auditability.
5
It aims for transparent and explainable algorithms, providing meaningful explanations to stakeholders.
6
The company has a zero-tolerance policy for unlawful data processing and states personal data is collected and shared only for specified, legitimate, and necessary purposes.
7
Users' privacy options and preferences are respected, and privacy notices are reviewed to enhance awareness.
8
Generali conducts annual internal and external vulnerability assessments and cyber attack simulations.
9
Security testing is performed on customer solutions, including IoT.
10
Personal data is collected, processed, and shared only to the extent strictly necessary, with retention periods of 10 years for contractual data or for the statute of limitations in disputes.
11
Generali maintains compliance with laws, internal regulations, and professional ethics, including GDPR implications for external data.
12
The company monitors model accuracy and post-market effects to avoid unintended effects on customer sub-groups and aims to minimize bias and discrimination risks.
13
Zero Waste & Sustainable Products
-40
In 2024, the company achieved a waste recycling rate of 77.0%.
1
It has implemented several waste reduction initiatives, including electronic archiving, dematerialization of documents, digital collaboration tools, digital transmission of communications, reduction of single-use materials, and separate waste collection, resulting in a 43.6% reduction in waste collected in 2024 compared to 2019.
2
Hazardous waste, such as IT waste and toner, is carefully managed by contracting specialized firms.
3
The company has not reported any waste disposal violations in the past three years.
4
Generali has company-wide waste reduction targets, aiming to reduce greenhouse gas emissions from operational activities by 35% by the end of 2025 and 60% by the end of 2030.
5
The Procurement Procedure includes guidelines for supplier selection with a focus on sustainability and social responsibility.
6
The company organizes training sessions and workshops for tenants to increase awareness of sustainability and efficient resource consumption, and conducts campaigns to raise awareness amongst employees regarding conscious use of resources.
7
The company aims for a transition to a resource-efficient economy and ensures continuous improvements in the energy intensity of assets.
8