The identification of the most relevant topics is the result of a materiality analysis process that, in the Unipol Group’s vision, is closely linked to and influenced by strategic planning processes. The materiality analysis was carried out considering the instructions contained in the "Implementation Guidance 1 – Materiality Assessment" prepared by EFRAG to support companies. thus adopting a methodological approach aligned with the requirements of Legislative Decree 2024/125, which transposes the Corporate Sustainability Reporting Directive (CSRD) 2464/2022/EU, and the European Sustainability Reporting Standards (ESRS).
The analysis process took place in three phases:
- understanding of the context;
- identification of current and potential impacts, risks and opportunities related to sustainability matters;
- assessment and determination of significant impacts, risks and opportunities related to sustainability matters.
These were then followed by the validation of results, broken down into:
- validation of the materiality assessment by company;
- validation of the materiality assessment at Group level.
To understand the context, a number of internal and external sources were considered. From the internal perspective, the Strategic Plan and the annual financial and non-financial reporting documents constituted the conceptual framework supporting the formalisation of the Group's business model and value chains. External sources included both general sources, such as the contributions of international initiatives such as the UN Global Compact and the OECD and the body of EU regulations on sustainability, and those relating to the financial and insurance sector specifically, such as commitments and papers of the UN PRI, UNEP-FI PSI, ICMIF and observatories on Group sector megatrends. In addition to various corporate functions, representatives of the following stakeholder groups were also involved: shareholders, agents, trade associations, associations for the promotion of sustainable finance, trade unions, environmental associations, and associations for social promotion.
The process was then concluded with the approval of the results of the materiality analysis for the Unipol Group by the Board of Directors of the Parent after an involve of the board of directors of ten material companies.
The Unipol Group's materiality assessment revealed material impacts, risks and opportunities (hereinafter also IROs) with regard to the following sustainability topics, as contemplated in the topical ESRS:
- Climate change
- Biodiversity and ecosystems
- Own workforce
- Consumers and end users
- Business conduct
Considering the materiality assessment as a dynamic process, the Unipol Group expects to verify the opportunity to make updates to its analysis during each reporting year, taking into consideration any modified material facts and circumstances with respect to the previous analysis; more significant reviews of the analysis are also planned every three years, in conjunction with the adoption of a new Strategic Plan that may lead to changes in activities and operating procedures.