ESG in our Group
Our ESG products are designed to support social and environmental development by rewarding those who invest in sustainability.
|SDG||Targets to 2023||2021|
|Asset Management: 100% of new investments selected with both ESG and financial criteria||98.8%|
|€700bn to be invested in Italian SMEs of excellence||€140m already invested|
|40% of qualified ESG products (ex SFDR Art. 8&9) out of total investment funds in Affluent client portfolio||33% achieved|
At Mediobanca, we have embarked on a path to transform our business model by basing medium- to long-term growth on responsible investment principles.
We are aware that in the long term, the variables influencing the valuations of companies cannot be limited to financial aspects, but must also include environmental, social and governance factors (ESG) in order to generate value for the investor and for society as a whole.
Our commitment is shared by our stakeholders and is aligned with that of governments and other institutions that have embarked on a challenging path with ambitious goals. We seek a balance between economic, social, and environmental factors by following international best practices and industry initiatives:
- We adhere to the UN Global Compact, which promotes sustainability principles for a sustainable economic, social, and environmental framework.
- We adhere to the Principles for Responsible Banking (PRB), which aims to encourage the banking system to set sustainable development goals and measure the impacts that its activities on people and the planet.
- We adhere to the Net-Zero Banking Alliance (NZBA) where we play an active role in the climate transition by aligning credit and investment portfolios to net-zero emissions by 2050.
- We are signatories (Mediobanca SGR, RAM Active Investment and Polus Capital) to the Principles for Responsible Investment (PRI) introduced by the United Nations in 2006 with the aim of promoting a sustainable and responsible approach to investments.
- We contribute to the Sustainable Development Goals (SDGs) of the United Nations 2030 Agenda by supporting internal and external growth and development projects.
Our Group adopts an ESG approach that is inspired by our principles. It is aimed at identifying reputational and operational risks that may arise from financing and investing in companies operating in sectors are deemed not to be socially responsible, characterised by low ESG ratings and/or involved in serious events that may lead to negative ESG impacts.
The guidelines of this approach, defined in the ESG Policy, are based on:
|Investment decisions||Engagement and active shareholders||Performance Monitoring|
Our ESG strategy is based on a combination of:
We proactively participate in shareholders' meetings of the companies in which we invest (according to specific voting guidelines) and maintain an open dialogue with them to encourage a responsible approach tailored to their business.
The Corporate Social Responsibility Committee monitors the achievement of the ESG Policy objectives, including assessing the financing, investment and advisory processes of the Group's individual Legal Entities.
All Mediobanca entities are guided by the Group's shared ESG approach, which they develop and translate into their various activities. In line with the Group's ESG Policy, Mediobanca SGR, RAM Active Investment and Polus Capital, have also defined their own policies for responsible investment in the provision of investment advisory services, client portfolio management and investment fund management.
Starting with our ESG approach and policy, our range of ESG products are adapted to customers' needs and are continuously improved to meet new expectations. Some of the main initiatives undertaken by companies within the Mediobanca Group are the Green, Social and Sustainable Bond Framework, the provision of green mortgages and the wide range of financial products and services that promote good environmental, social or governance characteristics (as defined in the Sustainable Finance Disclosure Regulation (EU) 2019/2088).
More details on all ESG services offered by the Group are presented in the ESG Catalogue.
GREEN, SOCIAL AND SUSTAINABLE BOND FRAMEWORK
We have defined and implemented our Green, Social and Sustainable Bond Framework on the basis of which we completed our first Green bond issue, aimed at institutional investors, for a nominal amount of EUR 500 million (September 2020).