Eurizon Capital SGR was one of the first companies to sign the Italian Stewardship Principles to exercise administrative and voting rights in the listed companies in which it has invested. During 2016, it monitored the most significant corporate events relating to financial instruments in its portfolio and focused on governance with the companies it invests in. Eurizon Capital SGR voted during 87 shareholders' meetings of issuers in its asset management portfolio. It is also part of a network of international investors working in collaboration with the UN to share a set of principles inspired by an understanding of the mechanisms of the sustainability of investments through attention to ESG factors and their integration in the investment process.
Shareholder activity was also carried out by the Intesa Sanpaolo Group defined contribution Pension Fund, as concerns companies invested in, for which the Board of the Fund identified critical aspects in ESG terms. This activity translates mainly into soft engagement practices involving direct communication with investee companies, putting questions and notes on topics of particular interest on social, environmental and corporate governance issues.
The Intesa Sanpaolo Group defined contribution Pension Fund was the first in Italy to adopt an active shareholder activity strategy, interacting directly with some of the larger companies in its portfolio. Engagement focused on the chain of suppliers and enabled an assessment of the companies’ conduct and recommendations of improvement measures, if necessary. To further support its initiatives, the Fund is a signatory of the Principles for Responsible Investment and the Carbon Disclosure Project.
The Fund includes a section that invests based on a sustainability benchmark, with underlyings selected using ESG criteria. The equity and corporate portfolio as at 31 December 2016 comprised some 1,300 issuers.
Six engagement activities were carried out involving various companies in the IT and finance industries (Apple, HSBC, Facebook, Amazon, Alphabet, Google), equal to approximately 0.45% of the number of companies and 0.84% of the portfolio value. To give greater visibility to engagement, the Fund decided to exercise its voting rights for the above companies, through providers specialised in proxy voting.
“Charity AND Philanthropy Advisory” SERVICE
As from March 2016, Intesa Sanpaolo Private Banking, aware of its social and environmental impact, has run a “Charity and Philanthropy Advisory” service, in the HNWI Department. The service supports customers with considerable financial assets, also with a view to providing advice for financial and/or strategic needs concerning philanthropic initiatives.
In particular, assistance is provided for setting up philanthropic organisations (foundations, associations), also as a means for planning generational change and empowering businesses and the community.
Customised asset management services are also provided, with a dedicated manager to select SRI investments as well as partnership agreements with management companies at the forefront of ethical issues.