Public-private partnerships for equitable and sustainable well-being: Generali at the 7th OECD World Forum on Well-being

Rome – At the 7^th OECD World Forum on Well-being, co-organised with the Ministry of Economy and Finance, with the collaboration of the Italian National Institute of Statistics (ISTAT), and the support of the Bank of Italy, Generali sponsored the event ‘Building Well-Being for People and Planet: the Role of Public-Private Partnerships’. The seminar focused on the need to address global challenges such as climate change, demographic shifts, and workforce transformations through well-being-centred solutions, and the strategic role of public-private partnerships (PPPs) in addressing these issues.

The OECD Forum, where Generali is a knowledge partner, is organised under the Italian Presidency of the G7 to strengthen the international agenda for the well-being of our planet and its people. It fosters connections and encourages action through dialogue between academics and the scientific world, civil society, businesses, and institutions.

The discussion hosted by Generali explored how public-private partnerships are essential for promoting strategies focused on well-being, sustainability, and reducing inequalities. This involves sharing best practices, across private and public sectors, analysing statistical data with aligned standards, and joining forces to shape inclusive and sustainable outcomes. Leveraging the strengths of both sectors, cooperation between private entities and international organisations, such as the United Nations Development Programme (UNDP) and OECD, is crucial for supporting holistic policies and resilience strategies that put human well-being at the centre.

Andrea Sironi, Chairman of Generali, said: “As highlighted in the 2023/2024 UNDP Human Development Report, distrust in collective action and political polarisation have been on the rise. Alongside this, there is an urgent need for swift action to address the climate crisis. No single entity, public or private, can successfully address our environmental and social challenges by itself. The solution lies in a joint effort. Our sector plays a crucial role in bridging the protection gap and promoting solutions that enhance the resilience of our economies and societal well-being through public-private partnerships.”

As a leading insurer and global asset manager, Generali promotes equitable and resilient well-being through innovative climate adaptation solutions, inclusive financial protection products, and sustainability-driven investments. The Group is also a responsible employer, advocating for diversity, equity, and inclusion in the workplace and supporting vulnerable communities through The Human Safety Net foundation.

The OECD contributed to this important conversation and emphasised that when well-being data is adopted as the foundation of decision-making, business and government have the opportunity to improve people’s lives and address the climate and environmental crises.

While well-being has not been the traditional objective of economic policies, today's challenges, such as climate change, workforce transformations, technological innovation, and demographic trends, require a collective perspective with measurable global impacts.

Lucia Silva, Generali Group Chief Sustainability Officer, emphasised the valuable role of public-private collaboration in building a more resilient economy that can withstand evolving climate challenges and harness the potential of industrial, technological, and digital innovation. Monica Possa, Generali Group People & Organization Officer, highlighted the importance of knowledge-sharing and sustainable practices in fostering work environments that embrace diversity, ensure equal opportunities, and promote inclusion. In this direction, training people with the skills required for an era of significant technological innovation is increasingly strategic.

Pedro Conceição, Director and Lead Author of the Human Development Report Office (UNDP), noted the role of new digital technologies, particularly artificial intelligence, in connecting global challenges like climate change with local solutions, ensuring cultural relevance and inclusivity. Romina Boarini, Director of the OECD Centre on Well-Being, Inclusion, Sustainability, and Equal Opportunity, stressed the importance of adopting well-being metrics as a shared foundation for public and private action to improve people’s well-being and protect our planet. Lynn Forester de Rothschild, Founder and CEO of the Council for Inclusive Capitalism, spoke on how international geopolitical shifts and specific institutional initiatives can stimulate an inclusive transition.

As a responsible corporate citizen, Generali strives to promote public-private partnerships and uses its expertise to support public institutions in achieving their objectives. Generali was the first financial player to sign a collaboration agreement with UNDP, launching a partnership in 2022 to improve access to insurance solutions to reduce the protection gap and enhance social and economic well-being in some of the world's most vulnerable areas. Through the ongoing commitment within its multi-year partnership with the UNDP Insurance and Risk Finance Facility, the Group supports the InsuResilience Vision 2025 and the UN 2030 Agenda for Sustainable Development.

During the year of Italy's G7 Presidency, Generali launched a new partnership with the OECD within the framework of their World Forum on Well-Being. This collaboration promotes initiatives and criteria for measuring well-being, making it a central focus in future economic policies.