Material issues and areas covered by Italian Legislative Decree 254/16

[GRI 102-43], [GRI 102-44], [GRI 102-46], [GRI 102-47]

Material issues are defined as aspects which reflect significant economic, environmental and social impacts by the organization or which could substantially influence stakeholder assessments and decisions. These aspects are also important with regard to risk management and strategy, and form the basis for the nonfinancial reporting.

The Mediobanca Group carried out its first materiality analysis in 2017, with the aim of identifying the most relevant issues for the Group itself and its stakeholders, i.e. issues which impact significantly on the ability to create value in the short, medium and long term.

The process of analysing these issues took place in two stages

  • In 2017 a benchmark analysis was performed of the financial sector and specific surveys and guidance in the sustainability area, which resulted in more than 50 issues being identified with the potential to impact on the financial sector. Subsequently these issues were analysed in greater depth with the heads of 15 different Group units and companies, in order to establish their relevance

  • In April 2018, a multi-stakeholder forum was held with the objective of updating the Materiality Matrix. The meeting with internal and external stakeholders, identified with the support of the relevant company units, involved shareholders and investors, clients, staff, entities and institutions and representatives of the third sector. At the forum, the sustainability path undertaken by the Group to date was illustrated, and the issues included in last year’s Materiality Matrix were presented. The stakeholders in attendance discussed and classified the relevance of the issues based on their own experience, expertise and expectations versus the Group

The results of this activity enabled the 23 most relevant issues for the Group and its stakeholders to be identified and the Materiality Matrix updated as shown below

Relevance for Stakeholderr
Relevance for Mediobanca Group
Business model and strategy
Stability, regulation and resilience of financial system
Innovation, multi-channel approach and digitalization
Management and systematic assessment of risk and brand reputation
Job creation and protection
Staff commitment, engagement and satisfaction
Diversity, inclusion and equal opportunities
Financial inclusion, access to resources and education
Transparency of information
on products and services
Data protection and security
Staff incentives, benefits and remunerations
Training and professional development
Responsible supply chain management
Staff health, safety and welfare
Contribution to economic system and society
Managing, attracting, developing and retaining talent
Ethics and integrity in business
Customer satisfaction
and quality of service
Responsible investments and sustainable products
Impact and investment on/in community
Management of direct and indirect environmental impact of business
Energy consuption and CO2 emissions
Sourcing and consuption of sustainable products