The definition of priority (or material) issues is an essential step not only in non-financial reporting but also for the management of risks and for strategic sustainability planning. We identify these themes through the materiality analysis process, which is based on stakeholder engagement activities.

Our material themes

The material themes are all the aspects that reflect the significant economic, environmental and social impacts of the organisation or which could greatly influence stakeholders’ decisions. 

The methodology used for the Group’s materiality analysis has been revised in accordance with the provisions of GRI 3 – Material Topics 2021, mandatory as from 1 January 2023, which requires assessment of the most significant impacts, positive and negative, generated by the Group on society and its surrounding environment (impact materiality).
The Mediobanca Group’s materiality analysis process for 2023 was structured in three steps: 

  • Step 1: identification of the main positive and negative impacts generated by the Group in the course of its business. These impacts were then mapped onto the material topics identified for the previous year, with certain changes, additions, and improvements in terms of wording
  • Step 2: certain major stakeholders were involved, in order to assess the Group’s economic, social and environmental impacts – effective or potential, positive or negative. 
  • Step 3: the results of the shareholder engagement process were compiled, and the list of material topics was shared with and approved by the competent committees and the BoD.

A list of the material topics identified is provided below, in decreasing order based on their impact materiality scores

Matrice 2023 EN

Stakeholder engagement and materiality analysis

Alongside the materiality analysis, the Group is convinced of the importance of taking on board the opinions and expectations of all its stakeholders, that is, of all those who have some kind an interest in the company’s activities. The Group comes into contact with a large number and wide variety of stakeholders in the course of its operations. We have identified a total of eight main categories of stakeholders, and for each of them have defined the most effective means and channels through which to hear their views.

Stakeholder engagement channels and methods

  • Initiatives and events
  • Meetings with representatives
  • Work groups



  • Portal for management of Mediobanca group purchasing




  • eMarket SDIR dissemination system and eMarket STORAGE mechanism
  • Meetings, conference calls and dedicated meetings



  • Customer satisfaction survey
  • Touch point
  • DEM channels - Direct Email Marketing,
  • SMS, Home Banking and App
  • Website and dedicated guides
  • Social Media
  • One-to-one meetings
  • Initiatives and events
  • Regular meetings with trade union representatives



  • Climate analysis
  • Performance assessment processes
  • Company intranet
  • Internal communication tools
  • Company voluntary work
  • Training programmes
  • Initiatives and events
  • Meetings with representatives
  • Work groups


  • Periodic training on financial products and new regulations