FinanceMap scores this financial institution in the following areas. Please navigate to the relevant tab for in-depth analysis
FinanceMap assesses these portfolios for this financial institution. Please navigate to the relevant tab for in-depth analysis.
Fossil fuel production companies are defined as those with primary sector of operations in the up-, mid-, and/or downstream segments of fossil fuel production. Green companies are defined as companies having over 75% revenue deriving from Substantial Contribution to Mitigation activities under the EU Taxonomy.
Portion of AUM Assessed: $11.9B
Sector Paris Alignment scores for the sectors in which the asset manager has shareholdings. FinanceMap Paris Alignment analysis is limited to the automotive, upstream fossil fuel, and power sectors.
| Holding Name | Contribution to Sector Production |
|---|---|
| PGE Polska Grupa Energetyczna SA | 26.1% |
| Enea SA | 10.2% |
| Enel SpA | 7.7% |
| Iberdrola SA | 6.2% |
| Engie SA | 5.9% |
| Tauron Polska Energia SA | 4.6% |
| CEZ as | 4.6% |
| Polenergia SA | 3.7% |
| EDP Energias de Portugal SA | 3.2% |
| Nextera Energy Inc | 2.6% |
| Holding Name | Contribution to Sector Production |
|---|---|
| Stellantis NV | 19.2% |
| Suzuki Motor Corp | 18.3% |
| Renault SA | 9.6% |
| Volkswagen AG | 8.5% |
| General Motors Co | 8.2% |
| Honda Motor Co Ltd | 7.2% |
| Mercedes Benz Group AG | 6.5% |
| Ford Motor Co | 5.5% |
| Geely Automobile Holdings Ltd | 4.8% |
| Toyota Motor Corp | 4.1% |
| Holding Name | Contribution to Sector Production |
|---|---|
| Jastrzebska Spolka Weglowa SA | 89.2% |
| Glencore PLC | 10.8% |
| Holding Name | Contribution to Sector Production |
|---|---|
| TotalEnergies SE | 18.1% |
| Polskie Gornictwo Naftowe i Gazownictwo SA | 17.8% |
| MOL Magyar Olajes Gazipari Nyrt | 8.5% |
| Shell PLC | 6.9% |
| Eni SpA | 6.1% |
| Chevron Corp | 5.4% |
| Equinor ASA | 5.3% |
| Exxon Mobil Corp | 4.6% |
| OMV AG | 3.3% |
| EQT Corp | 3.1% |
All equity funds that FinanceMap has identified as being managed by this asset manager. Click through to a fund's profile page to view in-depth analysis.
Generali appears to have taken positive but broad positions on sustainable finance policy, mostly focusing on corporate ESG disclosures.
Generali has stated support for keeping global warming below 1.5C and for net-zero by 2050 on its website and investor statements in 2021 and 2022. It is also part of the Net-Zero Asset Owners Alliance and Net-Zero Insurance Alliance. In its 2021 CDP response, it further advocated for increased ambition on the EU’s 2030 target.
Generali has broadly supported regulated corporate ESG disclosure with some exceptions. In comments to the revision of the Non-Financial Reporting Directive (NFRD) in 2020, it supported mandatory disclosures for Small and Midsize Enterprises (SMEs) and the expansion of scope to a wider range of companies. However, in response to the European Financial Reporting Advisory Group (EFRAG) on the European Sustainability Reporting Standards (ESRS) in 2022, Generali argued against the number of sector-agnostic disclosure requirements, suggesting they were too granular. In the same response, it also urged for an International Sustainability Standards Board (ISSB)-aligned definition of materiality, which is based on enterprise value rather than double materiality. In joint investor letters in 2021 and 2022, it further supported mandatory implementation of the TCFD and 1.5 pathway-aligned transition plans.
In feedback to the European Commission's consultation on the Renewed Sustainable Finance Strategy in 2020, Generali stated broad support for the taxonomy. In website articles in 2021-2022, Generali offered broad support for the EU Taxonomy and the EU Green Bond Standard. Generali has also supported the Sustainable Finance Disclosure Regulation (SFDR) but has highlighted that some of the data required by the regulation is currently inconsistent and calculated according to diverging methodologies. In a joint investor letter in 2022, Generali advocated for increased ambition in climate risk disclosure and prudential risk supervision.
Generali has stated that it is engaging with policymakers, however, disclosure is limited to top-line sustainable finance statements and broad positions on specific sustainable finance policies. Generali has disclosed some organizations it is a member of, but with no further details on indirect influence governance. It is also missing key memberships and participation in committee and working groups, such as EuropeanIssuers, Insurance Europe and European Fund and Asset Management Association (EFAMA).
InfluenceMap’s methodology for assessing lobbying on sustainable finance policy closely follows InfluenceMap’s established methodology on climate policy engagement, which is used extensively by investors, including via the Climate Action 100+ investor engagement process. Our full methodology can be found here.
Under our assessment of sustainable finance lobbying, InfluenceMap considers engagement on all financial policies which intersect with climate and/or other sustainability issues. The analysis takes into account both the engagement of the financial institution and the activities of industry associations they hold membership of.
InfluenceMap’s methodology covers seven publicly available data sources, searching for evidence of engagement and corporate positioning since 2017. To determine the policy issues within the scope of the analysis, InfluenceMap breaks down sustainable finance policy engagement into a series of subcategories, or 'queries'. These are designed to cover high-level issues relating to the importance of sustainable finance, as well as more specific areas of sustainable finance policymaking. InfluenceMap’s research process searches for evidence of an organization's engagement with each sustainable finance policy issue, across each of the data sources.
The following table outlines the key queries and data sources, which FinanceMap uses to assess asset managers' corporate engagement programs. Every evidence piece is assessed on a five-point scale of -2,-1,0,1,2 or NA (not applicable)/NS (not scored). All queries, data sources, and evidence pieces are weighted against one another in a matrix system to arrive at a final top-level score. Clicking on specific cells will load the underlying evidence and information on how it has been assessed.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party.
In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
InfluenceMap Data Point on Corporate - Influencer Relationship
Five Generali representatives sit on Insurance Europe's committees and working groups (last checked July 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Sandro Panizza is Vice-President of Insurance Europe. As of March 2023, Sandro Panizza is no longer vice-president of Insurance Europe.
Sandro Panizza (Group chief insurance & investment officer of Generali Group)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Six Generali representatives sit on Insurance Europe's committees and working groups (last checked March 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Generali is a member of ANIA which is a national association member of Insurance Europe
InfluenceMap Data Point on Corporate - Influencer Relationship
Frédéric de Courtois is Vice-President of Insurance Europe
Frédéric de Courtois (General Manager, Generali Group)
InfluenceMap Data Point on Corporate - Influencer Relationship
Five Generali representatives sit on Insurance Europe's committees and working groups (last checked July 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Sandro Panizza is Vice-President of Insurance Europe. As of March 2023, Sandro Panizza is no longer vice-president of Insurance Europe.
Sandro Panizza (Group chief insurance & investment officer of Generali Group)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Six Generali representatives sit on Insurance Europe's committees and working groups (last checked March 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Generali is a member of ANIA which is a national association member of Insurance Europe
InfluenceMap Data Point on Corporate - Influencer Relationship
Frédéric de Courtois is Vice-President of Insurance Europe
Frédéric de Courtois (General Manager, Generali Group)
InfluenceMap Data Point on Corporate - Influencer Relationship
Santo BORSELLINO is on the board of EFAMA. As of July 2023, this does no longer appear to be the case.
Santo BORSELLINO (Generali Investments)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Generali Investments is a member of EFAMA (last checked September 2023).
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Santo BORSELLINO is on the board of EFAMA. As of July 2023, this does no longer appear to be the case.
Santo BORSELLINO (Generali Investments)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
Generali Investments is a member of EFAMA (last checked September 2023).
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Assicurazioni Generali SpA is a member of the ABI (last checked September 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Assicurazioni Generali SpA is a member of the ABI (last checked September 2023)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Generali Bank is a member of ABI which is a national association member of EBF (last checked September 2023).
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Generali Bank is a member of ABI which is a national association member of EBF (last checked September 2023).
not specified
--no extract--
Open PDF file of Data Source