Sironi (Generali): "Millennials are all attracted by companies where there is the strong emphasis sustainability"

Andrea Sironi, Presidente di Assicurazioni Generali, in occasione della prima giornata dell'Euronext Sustainability Week ha dichiarato:

"Thank you, so first of all, thank you for inviting me, to this important conference and its always nice to come here in Borsa. What I am said as my colleague mentioned, it's quite clear that sustainability is the center of many strategic plan of major companies nowadays, and this is clearly the case for the group that i have the honour to Chair blended we are going to our free plan is ending this year working in the new plan to be presented in Janury in Venice as sustainability before, and i think that is quite commons as we heard from other speakers in most companies, and i would actually quickly recall what maxime was mentioned AI i'm clearly saying European companies. Because he in some way, hinted this kind of conflict that there is today between the two sides of the Atlantic. We recently read about this Texas dispiute. Thinking about this different views. wich are in some way impacting us because is massimum momentum of competitiveness issues, wich is not irrelevant. And people are talking about in some way conflict between on one side di stakeholder approach that we all use Europe and all the other side the mondiale di Milton Friedman of shareholder approach I think it's fals conflict meaning that if you look at what the shareholder views was at the time that Milton Friedman, he was first ball based on the long term approach, if you look at shareholder value with the long term perspective, you clearly have to incorporated every factor that is creating variant long term, which of course also means, you know, the employees and environment every Individual stakeholder simply was Not viewed this way in the past and the second important thing is that the freeman approach was very much on risk adjusted base so maximizing the long term on a risk adjust base taking into account.

The different risks that you were facing. So I think it's more an evolution rather than the different approach, even semper mentioned because it is quite relevant for the competitiveness of every company that its manager international look for us this is quite relevant becauseif we do work in an environment were competitors of our subject the different rules that is quite realevant, and insaind that from the strategy point of view we not only think that is the right thing to do, but as a number of data pushing us in this direction. Millennials are all attracted by companies where there is the strong emphasis on this factor sustainability, especially in the social that di that Stefano was mentioned in number of Europe.

There are regulations that was mentioned by Massimo that is the istitutional investor that we were talking about 23 year investment according to ESG criteria rating agencies we are all monitoring this ratings that came out every year, of course are partculaly monitor, there are number of factors which make it absolutely convenient not only the right thing to do and let me conclude by saying just the word about the insurance industry: when we look at Europe, the estimate is if we focus on enviroment on the if the estimate is about 25% of the climate risk, i'm talking about system private risk are covered by insurance, which means the large maggiority of those risks are not covered as you know. There is an work goingo on at the see the right solution to this, but it is quite clear that this gap which is a protection gap is a significant threat to the economy and Society and the insurance industry can and mass play a role here if there are significant losses due to climate events banks are going to suffer in terms of credits are going to suffer, cause there are major events disrupt the public finance so there a number of consequences whereby is particularry crucial to progress in this direction, we in Generali advocate and approach wich is basically the partnership between the partner and the privact sector will be doing so for quite of a number of years we are close to have been significant improvement recently, but we think about this is also extremely important in the ESG context"