Sustainability at the heart of our strategy
Our business model is oriented towards excellence. It is inspired by principles of transparency and fairness aimed at creating sustainable long-term value for all our stakeholders.
Our work is based on passion, innovation and efficiency and on the quality of our people and services, always seeking to support the well-being of individuals and the advancement of local communities.
Our sustainable pillars
We founded Fineco on 3 main pillars: Efficiency, Innovation and Transparency.
The keys of our strategy, still leading our sustainable growth.
Strong focus on IT & Operations, more flexibility, less costs.
Anticipate new needs simplifying customers’ life.
Fairness and Respect for all our stakeholders.
Stakeholders play a fundamental role in the Group’s growth. Engaging with them and understanding their needs allow the Group to pursue its objectives more responsibly and effectively.
Over the years Fineco has developed many initiatives that continuously involve stakeholders, so as to better manage relations with them and to engage stakeholders in its activities, enhancing their roles and potential.
- Evaluation of customer satisfaction
- Evaluation of brand reputation
- Customer Care
- Social Media
- People survey on working life at Fineco and in the Group
- Annual Performance Management for employees/ Talent Management Review for talent / Executive Development Plan for Executives
- On-boarding of new hires, with support of managers, Human Resources and trade union organisations
- Surveys on specific topics
- Dedicated Platform
- Specific meetings at different levels
- Calls e web conferences
- Workshops and dedicated working groups
- Training activities
- General Shareholders’ Meeting
- Meetings with analysts, investors and proxy advisors
- Investor Relations activities
In 2018 Fineco carried out a structured process to define its material topics, with the support of ALTIS, Università Cattolica del Sacro Cuore of Milan. Based on the four principles set out by the GRI Sustainability Reporting Standards for defining the most significant aspects (materiality, inclusion of stakeholders, completeness of data, and context of the Group’s operations) a topic was found to be “material” if it was able to influence the decisions, actions and performance of the organization and its stakeholders.
Fineco identified 20 material topics, grouped into 8 macro-aspects, which represents the starting point of the sustainability path undertaken by the Group and the related goals definition.
The list of material topics was approved in 2018 and confirmed in 2019 by the Corporate Governance, Appointments and Sustainability Committee and the Board of Directors.
- Fairness and transparency in offering products and services
- Human resources management
- Industrial relations management
- Health and safety at work
- Personnel training
- Diversity and equal opportunities
|EFFICIENCY AND STABILITY
|CONTROL AND RISK MANAGEMENT SYSTEM
- Reduction of environmental impact (raw materials consumption)
- Compliance with environmental laws and regulations
- Prevention of anti-competitive behaviour
- Socio-economic compliance
- Protection of Customer Privacy
- Clear approach to the markets
- Financial inclusion and education
- Responsible products and investments
|INNOVATION AND CUSTOMER EXPERIENCE
- Quality and Value
We are aware that our strategy, focused on stable and organic growth, must necessarily be accompanied by a progressive integration of environmental and social sustainability principles in our business and operational management choices.
Our first set of sustainability goals to be pursued in the years 2020-2023 has been approved by the Board of Directors on January 2020, and includes in addition to the definition or review of the main cross functional sustainability policies and the identification and integration of the main ESG risks in corporate risk management, the following areas of activity:
Diversity and equal opportunities
Monitoring the attention to the Gender Pay Gap issue; focus on issues such as the promotion of women in managerial roles, equalgender representation and the monitoring return from maternity leave is managed.
Implementation of an employee training and awareness plan on Diversity & Inclusion
Career development e Performance management
Continuation of the Performance management programme, aimed at all employees, following the exit from the UniCredit Group.
Evolution of the welfare plan
Implementation of initiatives related to flexible work (greater use), creation of employee areas (such as break areas),healthcare.
Engagement / Retention
Initiatives for consultations and turnover monitoring.
Increasedproducts with social and environmental value within the mortgages and loans sector
Introduction of ESG criteria in products evaluation. ESG evaluation extended to 100% of new FinecoBank Group funds
Promotion and design of new funds based on ESG criteria
Green and Social Bonds
Increased coverage of green and social bonds in FinecoBank’s portfolio
|FINANCIAL EDUCATION/COMMUNITY SUPPORT PROJECTS
Promotion of specific training and awareness-raising courses on topics such as asset management, which will particularly involve targeted groups, such as young people
Training of Financial advisors
Provision of specific training activities on ESG issues for Financial advisors, in order to meet the demands of customers more sensitive to these issues and, at the same time, to promote sustainability among less interested customers.
Allocation of annual investments in projects that benefit the community, according to different local needs (e.g.: schools, universities, hospitals and health and cultural associations) and allocation of natural disaster funds (to postpone mortgage and loans payments, and suspend debt collection actions for insolvent customers in the event of disasters or natural disasters)
Suppliers assessment on the basis of ESG criteria, through an initial self-assessment questionnaire1
Strengthening the dialogue with socially responsible investors (SRI) and Sustainability Rating Agencies
Participation in external initiatives that support the company’s commitment to ESG themes (such as: Valore D and UN Global Compact)
Implementation of the Environmental Declaration
Energy consumption / emissions: monitoring of internal company consumption with the aim of reducing consumption and emissions
Company fleet: the modernisation of the car fleet with hybrid / electric cars (with the possibility of recharging in the parking lot of company offices)
Sustainable Mobility: refund of employees’ annual bike-sharing subscriptions, upon request (both in Milan and Reggio Emilia)
Material/waste management: reduction of plastic consumption by creating digital credit cards by 2020; replacement of plastic bottles by installing water dispensers and providing all employees with water bottles; purchase of recycled or certified paper and provision of separate collection facilities to all offices
1 The assessment will focus, for example, on compliance with environmental and occupational health and safety regulations, on the presence of a Code of Ethics and on possible certifications (ISO 14001, OHSAS 18001, SA8000, ISO 50001, ISO 37001).
For further details, please see the 2019 Consolidated Non Financial Statement of FinecoBank Group.