Generali's Green Bond issuance and second-party opinionAssicurazioni Generali SpA (“Generali” or the “Group”) is a global insurance and financial services company based in Italy. Founded in 1831, Generali now operates in over 60 countries with approximately 71,000 employees and is one of the world’s largest insurance providers by revenue. It is well positioned in the insurance business, and with its asset management business in Europe, with a growing presence in Asia and Latin America. In addition to Generali’s three strategic pillars – profitable growth, capital management and digital transformation – Generali established sustainability as a key initiative and one of its important goals for 2021 (Read more: https://www.generali.com/our-responsibilities).
Generali’s recent Green Bond Framework illustrates its commitment to sustainability. The eligible categories under the framework include both green buildings and green infrastructure projects with an objective to improve energy efficiency of buildings and reduce CO2 emissions. The framework also includes investments in energy efficiency solutions for older buildings and other use of proceeds categories such as renewable energy and clean transportation.
Prior to issuance, Generali commissioned Sustainalytics to conduct an external review of its Green Bond Framework and to provide a second-party opinion on the framework’s environmental and social credentials. The external verification also ensures the framework’s alignment with the Green Bond Principles.