Sustainability Management

The organisational and governance structure reflects the Group's commitment to the adequate management of environmental issues, and provides for specific roles and responsibilities.

• The Poste Italiane SpA's Board of Directors approves the Sustainability guidelines and strategies on the basis of assessments that consider, among other things, the risks and opportunities related to climate change that may be relevant in terms of reputation for the Group.
• The Sustainability Committee (CSost) collaborates with the Board of Directors, performing investigative, propositional and advisory functions to promote sustainable success. This includes support in assessments and decisions related to environmental, social and governance factors, with a focus on climate change.

Specifically, the CSost carries out an activity specifically dedicated to climate change as part of its functions. In fact, the Committee examines, evaluates and makes proposals on the Group's environmental, social and governance (the latter with reference to Sustainability) strategy, including climate change strategies, annual targets and deliverables, considering potential projects related to these topics and monitoring their implementation over time. The CSost also monitors climate-related risks and opportunities and all initiatives taken by the Company to address these issues, coordinating with the Control and Risk Committee and reporting to the Board of Directors. At management level, the Chief Executive Officer and the Group Sustainable Development, Risk and Compliance function manage the main functions related to environmental issues. In fact, the CEO of Poste Italiane SpA has the task of establishing, maintaining and ensuring the effectiveness of the Internal Control and Risk Management System (SCIGR), as well as formulating the Sustainability strategies connected to environmental issues and overseeing their implementation, continuously monitoring their adequacy and effectiveness, always considering the assessment of related risks and opportunities.

The Group Sustainable Development, Risk and Compliance function of Poste Italiane SpA:

• Defines, in collaboration with the departments involved, the guidelines and objectives of Sustainability and corporate social responsibility for the Company, using a set of indicators for monitoring Sustainability performance, and specific metrics to monitor climate-related risks and opportunities, in line with best practices and related international guidelines;
• Is the single point of reference for the governance and management of all risks, involving the specialist units directly reporting to the Group ("direct controls"), as well as other risk controls ("indirect controls") present in Poste Italiane and in Group Companies.

Finally, to correctly identify and manage climate-related risks and opportunities also for investment and insurance processes, additional controls were put in place. In particular, BancoPosta Fondi SGR and Poste Vita have set up committees responsible for periodically analysing and assessing the ESG risk (including, therefore, also the environmental risk) of the portfolios and the evaluation criteria of the issuers' ESG profiles. As far as insurance processes are concerned, Poste Vita's Risk Office function is responsible for identifying, analysing and assessing the signs of change deriving from the various dimensions of the external environment, with particular attention to factors linked to climate change. The identification of these signals takes place jointly with the "Products Committee - ESG Assessments", which periodically examines and evaluates the criteria for defining the ESG profiles and the Group's product catalogue.

The incorporation of sustainability within the Company's regulatory system has led to the definition of the following policies.
 

Poste Italiane Group policies	Policy objectives
Tax Strategy	The strategy is arranged as a set of principles and rules aimed at promoting dissemination of the values of honesty, fairness and compliance with tax regulations, thereby encouraging the development of collaborative and transparent conduct towards the tax authorities and third parties, in order to minimise any substantial impact in terms of either tax or reputational risk.
Occupational Health and Safety Policy	The Policy sets out the principles and methods implemented by the Group to protect and promote the physical and mental well-being of people through prevention, spreading a culture of safety and implementation of management systems.
Integrated Policy	The Policy contains a commitment to promptly comply with current regulations: ISO 37301:2021 for compliance management, UNI EN ISO 9001:2015 for quality control, ISO 45001:2018 for occupational health and safety, ISO 37001:2016 to prevent practices that may result in alleged and/or confirmed crimes of bribery, ISO/IEC 27001:2013 and ISO/IEC 20000-1:2018 respectively regarding the data security management system and the information management system to support company processes.
Group policy on community initiatives	The Policy contains a commitment to respond to the social needs of local communities and the country as a whole with integrity and transparency, in accordance with procedures that aim to ensure the effectiveness of supported initiatives, while avoiding any potential conflict of interest.
Policy on Personal Data Protection	Poste Italiane Group Policy shows that personal data protection is a fundamental value that every Group Company must adhere to in its daily activities. The Group protects and promotes the protection of personal data and the rights of data subjects through information and awareness campaigns and policies for data protection.
Group policy on Environmental Sustainability	The Policy sets out the general principles, objectives and methods for managing the Group’s environmental impact and confirms Poste Italiane’s commitment to promoting efficient use of natural resources and focusing on seeking innovative solutions to protect the environment in its value chain.
Responsible Investment Policy of the Poste Vita Group	In its Responsible investment Policy, Poste Vita sets out principles that enable inclusion of ESG elements in the management of its investment activities, making a positive contribution to the impact issuers in its financial portfolios have on the community, and concrete adherence to principles and guidelines recognised at national and international level regarding the incorporation of sustainability criteria within traditional investment processes.
Responsible Insurance Policy of Poste Vita Group	In its responsible insurance Policy, Poste Vita defines principles that enable inclusion of ESG aspects in the management of its insurance activities, and concrete adherence to principles and guidelines recognised at national and international level regarding the incorporation of sustainability criteria within traditional insurance processes.
Responsible Investment Policy of BancoPosta Fondi S.p.A. SGR	In its responsible investment policy, BancoPosta Fondi SGR sets out principles that enable inclusion of ESG elements in the management of its investment activities, making a positive contribution to the impact counterparties in its financial portfolios have on the community, and concrete adherence to recognised principles and guidelines. The Policy has been updated in January 2021.
Guideline for investment in sensitive sectors of BancoPosta Fondi SGR	The Guideline for investment in sensitive sectors of BancoPosta Fondi SGR defines measures to identify, assess and monitor exposure to activities that present a relevant intrinsic risk from an ESG point of view, thus enabling environmental, social and governance aspects to be incorporated into the investment process.
Guideline on the exercise of voting rights and engagement activities of BancoPosta Fondi SGR	The SGR’s Guideline defines measures and procedures to exercise voting rights in accordance with established national and international reference principles and to promote the proper management of ESG issues through beneficial dialogue with issuers of securities in their financial portfolios.
Policy Guideline for Managing Dialogue with Poste Italiane SpA shareholders – Engagement Policy	The objective of the Policy is to regulate the management of dialogue with investors and other market participants adopted by Poste Italiane, with reference to the many forms of engagement that the Company puts in place, whether these concern activities normally managed by the relevant corporate functions (e.g. website maintenance), or involve direct dialogue with members of the Board of Directors ("Shareholder-Director Engagement").
Guideline for investment in sensitive sectors of the Poste Vita Group	The Guideline for investment in sensitive sectors of Poste Vita SpA defines measures to identify, assess and monitor exposure to activities that present a relevant intrinsic risk from an ESG point of view, thus enabling environmental, social and governance aspects to be incorporated into the investment process.
Guideline on the exercise of voting rights and engagement activities of the Poste Vita Group	The Company’s Guideline defines measures and procedures to exercise voting rights in accordance with established national and international reference principles and to promote the proper management of ESG issues through beneficial dialogue with issuers of securities in their financial portfolios.
Diversity Policy for administrative and auditing bodies of Poste Italiane	The document sets out recommendations regarding aspects of diversity of the members of the Board of Directors and of the Board of Statutory Auditors, such as age, gender, ethnicity, geographical origin, training and professional experience.
Group policy for the protection of Human Rights	The Policy sets out a clear approach to the issue of human rights, which is broader than legal requirements and enables monitoring and management of risks and opportunities relating to all forms of human rights, and also confirms the Group’s commitment to pursuing socially responsible investment and management activities.
Diversity and Inclusion Policy	The Policy indicates that Poste Italiane Group is committed to supporting the values of diversity and inclusion through the adoption of corporate, organisational and management mechanisms based on respect for people’s rights and freedom.
Guideline on Competition and Consumer Protection Compliance	The Guideline aims to ensure compliance with competition and consumer protection rules, to reinforce awareness of the importance of the relevant regulations, to consolidate an operational and control environment aimed at mitigating the risk of antitrust and anti-competitive offences, to provide a guide to prevent actions, behaviours and omissions that violate competition and consumer protection regulations, and to outline monitoring tools to identify possible violations.
Support for Active Parenting Policy	The purpose of the Policy is to provide a framework to support the female condition in the Company, to help women, before and after the maternity period, with adequate support and development paths through anticipatory plans to enable them to feel fully empowered and supported in expressing their personal and professional abilities. The document aims to outline a people development and management strategy, implement a modern maternity management model and introduce innovative tools for consistent and harmonious support for active parenthood, thereby integrating Poste Italiane's existing human resources development processes.
LGBTQ+ Inclusion Policy	The Policy intends to promote policies, solutions and measures capable of improving working conditions by means of inclusive processes for each individual, valuing the different expressions of gender identity of each person, including those of people in gender transition and, in general, to prevent and counter all forms of direct/indirect discrimination related to affective/sexual orientation. The inclusion of LGBTQ+ people is connected to the value of the centrality of the person, the protection of their identity and uniqueness and, in general, their way of being, with an impact on the broader concept of individual and organisational well-being.