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Incorporation of ESG criteria within Investment Policies The incorporation of ESG principles into the investment processes used by Poste Vita and BancoPosta Fondi SGR is of particular significance.

The increasing proliferation of sustainable finance and the expansion of responsible investments are testament to the fact that inclusion of ESG considerations has become a strategic pillar, consistent with the general recognition that a shared course of action is needed in order to make a substantial contribution to sustainable growth.
This conviction has, for some time now, determined the responsible Investment approach adopted by the Poste Italiane Group with regard to the investment activities of BancoPosta Fondi SGR and Poste Vita. Indeed, for some time now, this vision has been a part of the Group's strategy, with the principles of sustainability applied in all areas in which it operates, including the financial sector, in the firm belief that, thanks to its efficient investment processes, the asset management and insurance sectors can help protect society, promote innovation and support economic growth. 

Poste Vita and BancoPosta Fondi SGR have signed up to the United Nations Principles for Responsible Investments (PRI), making a formal commitment to incorporate ESG criteria in their assessment and decision-making investment processes, and to apply such criteria in relations with counterparties.

This decision results from the strong belief that integrating environmental, social and governance criteria within its investment processes is key to achieving sustainable performances over time, reducing the portfolio’s risk profile and acting in accordance with the principles of integrity and transparency.

During 2022, regulatory technical standards were defined. "RTS", Delegated Regulation (EU) (2022/1288) governing the presentation and content of the disclosures required under Regulation (EU) 2019/2008 ("Sustainable Finance Disclosure Regulation" or "SFDR") and Regulation (EU) 2020/852 ("Taxonomy Regulation").
In view of the entry into force of the RTS, BancoPosta Fondi SGR and Poste Vita have been called upon to adapt to the provisions, in particular by updating the disclosure in the precontractual documentation with the preparation of the annexes and the adaptation of the disclosure on the website for all Group products that promote environmental or social characteristics (as per Art. 8 SFDR). For these products, periodic reporting has been conducted from early 2023.

Poste Italiane considers it fundamental to participate in dialogue with institutions, trade associations and the financial sector in order to contribute to the dissemination of sustainable finance and the promotion of sustainable development in the belief that joint action can generate more concrete results towards sustainable development.

Specifically, the Group confirmed its adherence to social and environmental initiatives such as: Access to Medicine Index, aimed at raising awareness in the pharmaceutical sector and facilitating access to medicines for the world's poorest population groups in line with the UN Sustainable Development Goals; Land use and Climate Working Group of the international Ceres network, which since 1989 has aimed to improve the management of emissions and natural resources through targeted engagement activities; Access to Nutrition US Index, Workforce Disclosure Initiative (WDI), ClimateAction 100+.

Furthermore, like before, dialogue activities on ESG issues with listed companies were carried out as part of the “Engagement” Working Group of the Forum for Sustainable Finance and Borsa Italiana's Digital Italian Sustainability Week.

In 2022, BancoPosta Fondi SGR published for the first time a report of engagement activity and voting rights exercised in the previous year in respect to the instruments held in the portfolio. During 2022, a process was also undertaken to update the system of policies that define the approach for integrating ESG criteria into the investment processes of Poste Italiane, with the aim of aligning the Responsible Investment strategy with changes in the external context, the regulatory framework and best practice and to incorporate internal developments.

Eventually, the placement of "Poste Gestione Patrimoniale", a portfolio management arrangement in collaboration with Moneyfarm, has been launched in 2022. It features 4 diversified ETF investment lines, calibrated according to customers' risk propensity and investment objectives, and characterised by an investment policy geared towards ESG factors.

ESG criteria within Investment Policies