Climate Change

Unipol has always paid close attention to the issue of environmental protection and fight against climate change.

In 2015, in response to the Green Paper of the European Commission on the insurance of natural and man-made disasters published in 2013, Unipol published the position paper "Unipol for the Climate", in which the Group proposed a model for the prevention and management of natural disasters based on collaboration between the public and private sectors, adopting mutual insurance procedures to manage the growing risks deriving from climate change and to cope with large insurance claims. In addition to making any expenses related to catastrophic events more sustainable for the State treasury, this system encourages the citizens and the businesses virtuous behaviour in protection, prevention and adaptation. However, this commitment requires a central public role to create the conditions for the development of an insurance market, without which mutual insurance systems cannot function nor can economic sustainability be guaranteed for the players involved.

Unipol is therefore fully aware of the role that insurance can play in facing the consequences of climate change and facilitating the transition to a low-carbon economy through the development of guarantees and investment products that promote mitigation and adaptation. Referring to the Recommendations issued by the Task Force on Climate-Related Financial Disclosures (TCFD), Unipol is consolidating its financial reporting process in connection with the climate.

In line with the Groups' commitment to supporting the transition to a low-carbon economy and society through its strategic choices and business processes, the Unipol Group has joined the primary international initiatives for the fight against climate change:

Principles for Responsible Investment
The Unipol Group signed the Principles for Responsible Investment in 2017 undertaking a commitment to integrating social, environmental and governance criteria in the valuation of Investments.
The Unipol Group signed European Alliance for Green Recovery
The Unipol Group, represented by Chairman Pierluigi Stefanini, signed European Alliance for Green Recovery initiative which has united 270 signatories including MEPs, ministers, bank representatives, insurance companies, corporations, business associations and NGOs.
Talanoa Dialogue
Unipol (as in the case of the Paris Pledge for Action) joined the Talanoa Call for Action, a declaration of commitment divided into various actions signed by Governments and Companies at the Talanoa Dialogue organised by the European Commission in June 2018, in order to keep the temperature rise below 2°C, as stipulated in the Paris agreement for climate change, making all efforts to limit this increase to 1.5°C.
Climate Action 100+
In order to start an adequate practice of active engagement, UnipolSai joined the Climate Action 100+, a five-year partnership promoted by investors (UNPRI, CERES) to involve the most polluting companies in terms of greenhouse gas emissions (GHG emissions), improve the governance of the climate change phenomenon, reduce emissions and strengthen financial transparency on these issues.

The Unipol Group is also strongly committed to promoting research and dissemination, such as the annual report of the Legambiente Città  Clima observatory.

Unipol model

Governance
Governance of climate-related risks and opportunities
Strategy
A model for the prevention and management of natural disasters
Risks
The cross-departmental ESG Risk Table, an operating work group
Products
Provision of insurance products and services to support customers in facing climate risks and to increase their resilience.