Defining, updating and implementing BancoPosta ESG Plan actions in response to the Bank of Italy’s Supervisory Expectations

Defining, updating and implementing BancoPosta ESG Plan actions in response to the Bank of Italy’s Supervisory Expectations

With the aim of implementing the individual actions in the ESG Plan, the Group initiated a feasibility analysis phase, which was followed by the definition of detailed activities through the activation of dedicated working groups. In this context, kick-off meetings were held with a specific focus on initiatives such as supporting the integration of ESG KPIs in remuneration policies, the creation of a database dedicated to ESG KPIs and the proposal to integrate the Tableau de Bord1 with ESG KPIs, with a focus on social factors.

An analysis was also conducted to assess the potential impact of climate risk on liquidity risk, with reference to extreme weath­er events (such as floods and landslides); the analysis showed that these risks are not material for the calculation of the main liquidity indicators (LCR and NSFR).

Furthermore, with the aim of ensuring an effective and structured implementation of the ESG Plan’s initiatives, the Group is pur­suing a course of action aimed at defining micro-activities for each of the Plan’s actions, adopting an articulated methodologi­cal approach. In particular, a preliminary feasibility analysis is foreseen for each action, followed by the definition of operational micro-activities and the identification of subsequent implementation steps, in order to ensure consistent, monitorable progress aligned with the strategic objectives.

 

1. The Tableau de Bord monitors the set of key indicators, deemed representative of the overall risk/reward profile, that BancoPosta has included in the system of targets, thresholds and limits within the Risk Appetite Framework. Key risk indicators are also monitored to guard against further relevant risk factors and intervention/mitigation plans for risks that are more difficult to quantify. On a quarterly basis, after review by the Control and Risk Committee and the Board of Directors of Poste Italiane, the report is sent to the Bank of Italy.