To mark the occasion of the Shareholders’ Meeting to be held in Trieste on 29th April 2022, Generali is launching the “Un Albero per Azionista” (A tree for a shareholder) initiative: the Group will plant a tree for each of the shareholders participating in the Meeting, starting with a reforestation project which will plant over 3,000 trees, in the areas damaged by the Vaia storm, which hit north-eastern Italy in October 2018.
The project was launched in collaboration with the specialist company CO2 Advisor, local authorities and agroforestry consortia, which every day commit to restoring devastated areas in order to carry out progressive and long-lasting interventions. The initiative aims to combine the participation of each shareholder in the Shareholders’ Meeting with a concrete gesture in the communities where the Company has always been present, in line with the Group’s commitment to sustainability, which is at the heart of the new strategic plan “Lifetime Partner 24: Driving Growth”. Within this plan, the goal is to drive significant social, environmental and stakeholder impact, integrating ESG principles in the investment and underwriting strategies, increasing premiums deriving from sustainable solutions by 5%-7% CAGR by 2024, and making € 8.5 – 9.5 billion of new green and sustainable investments between 2021 and 2025.
Generali’s strategy for climate protection, updated in July 2021, also aims to fully phase out investments and underwriting activity in the thermal coal sector in OECD countries by 2030 and by 2040 in the rest of the world. The new goals also include the gradual decarbonisation of the investment and insurance portfolio to reach carbon neutrality by 2050, consistent with the Paris Agreement’s goal to limit global warming to 1.5°C above pre-industrial levels and with the commitment undertaken as part of the Net-Zero Asset Owner Alliance and of the Net-Zero Insurance Alliance.
The essence of insurance is the social sharing of risk, so that adverse or catastrophic events, such as those generated by climate change, do not weigh too heavily on individuals. Tackling uncertainties together is what makes them sustainable, and Generali aims to stand by its stakeholders.