Respecting human rights
We are committed to safeguarding, respecting and promoting fundamental human and labour rights across all spheres where we have an influence
As a responsible company and a signer of the Principles for Sustainable Insurance (PSI) and the Principles for Responsible Investment (PRI) and as a member of U.N. Global Compact (UNGC), our Group has embedded its Human Rights commitment into its Sustainability Group Policy.
We are aware of potential direct and indirect adverse impacts that our activities may have on Human Rights in our operations and value chain.
Human rights are defined taking into consideration the following internationally recognized frameworks:
- the UN Universal Declaration of Human Rights
- the core international standards of the International Labour Organisation (ILO)
While the due diligence process is defined in accordance with:
Our approach
Our Group has identified a list of rights* which are applicable to its business and are included into the due diligence process.
The due diligence process aims at identifying and assessing, preventing, mitigating or remediating and monitoring adverse human rights impacts. It also provides complaints procedures in order to report concerns.
The picture below illustrates how the process takes place.
The identification and assessment of adverse impacts linked to Human Rights includes impacts caused or contributed to by the Group and impacts associated with the Group’s own operation and value chain:
- For Employees
- For Investment
- For Insurance
- For Supply chain
As a Responsible Employer
As a Responsible Employer we are committed to fostering a welcoming, respectful, safe, and supportive environment where the unique perspectives and contributions of each employee are valued.
Generali adopts dedicated processes to identify remedial measures and address any behaviours or unlawful conduct linked to Human Rights violation and specific monitoring measures to ensure respect for Human Rights across the workforce.
Read more at: Responsible Employer and the European Social Charter
In-house training on human rights
We believe that it is fundamental to train and raise the awareness of our people in relation to the issues covered in our Code of Conduct. In 2023, 73,048 employees have completed the Code of Conduct training courses.
As a Responsible Investor
As a Responsible Investor we are committed to implementing an investment strategy that considers Human Rights and avoids investments in issuers responsible for severe controversies linked to Human Rights violations. In line with this commitment, for direct investments, a negative screening approach is applied to exclude issuers, both corporate and sovereign, involved in severe controversies linked to Human Rights from the investable universe.
Read more at: Responsible Investor
As a Responsible Insurer
As a Responsible Insurer we are committed to integrating Human Rights into its underwriting strategy with the aim of avoiding or minimising indirect adverse impacts related to companies responsible for severe controversies linked to Human Rights in underwriting.
To this end, the Group considers counterparties involved in serious violations, evaluating the sustainability of companies’ profiles to make appropriate decisions regarding their insurability, avoiding or minimising insurance exposure to sensitive sectors.
Read more at: Responsible Insurer
As a Responsible Business Partner
As a Responsible Business Partner we are committed to ensuring a responsible business approach along the supply chain, expecting suppliers to respect human and labour rights and avoiding business relationships with counterparties responsible for severe controversies linked to Human Rights deemed relevant for the supply chain.
Read more at: Working with our suppliers
Concern reporting procedures
Generali provides concerns mechanisms and specific reporting channels, both at the central and local levels, for stakeholders involved in Generali activities (e.g. current or former employees, customers, candidates, vendors, consultants, other stakeholders) to report concerns or unlawful conduct related to possible violations of Human Rights. Such violations may constitute a breach of the Generali Group’s Code of Conduct, as well as other internal and external regulations.
Compliance with the core international standards of the International Labour Organisation (ILO) is monitored through a written questionnaire to Group's companies across the world on an annual basis.
In 2023, this monitoring covered 84% of the Group, and generated the following results:
- child labour: there are no group workers under 16 years of age;
- forced labour: the are no cases of mandatory or forced labour, or any other irregular form of labour in the group
- freedom of association and collective bargaining: 95.9% of employees are covered by collective bargaining agreements and, where these are not in force, employees are hired through a formal written employment contract.
Mergers & Acquisitions
Respect of human rights is part of the ESG criteria included in the M&A due diligence activities, especially in relation to acquisition transactions.
How to report a suspected violation of human rights
Alleged human rights breaches can be reported - anonymously where permitted by law - through the channels set out in the Code of Conduct.
* for detailed information on our approach and human rights list please refer to Public Statement here available for download
