Materiality analysis

Material impacts, risks and opportunities

Double materiality analysis

With the aim of adhering to the regulatory provisions of the Corporate Sustainability Reporting Directive (CSRD), as transposed in Legislative Decree no. 125 of 6 September 2024, and to determine the main sustainability issues that, at strategic level, can guide the Group’s commitment to ESG, during 2024, Poste Italiane revised its materiality analysis process in line with the ESRS standards and the Materiality Assessment Implementation Guidance (hereinafter the MAIG Guidance) developed by EFRAG, in order to include the two perspectives of impact materiality and financial materiality within the process itself. The Group’s sustainability framework is defined by ensuring its harmonisation with the Enterprise Risk Management model also in terms of processes, tools and related methodologies. Furthermore, as part of the materiality analysis process, the Group takes the interests and opinions of stakeholders into account and orients its strategy according to the findings of this process.

In order to determine the relevant sustainability issues to be reported in the Sustainability Report 2024, the Poste Italiane Group has developed a materiality process consisting of the following steps:

Identification of potentially relevant topics, sub-topics and sub-sub-topics for the Group

Poste Italiane conducted a preliminary context analysis with respect to the Group’s operations and its upstream and downstream value chain, aimed at investigating the specific activities, business relationships, geographies or other factors that present a high risk of negative impacts occurring. This analysis was supplemented with the findings of a desk analysis with respect to reference best practices, which took into account the company’s strategic objectives as well as the interests expressed by stakeholders. Starting from the results of the 2022-2023 materiality cycle, a reconciliation of the Poste Italiane Group’s impacts was carried out, where possible, to the sustainability issues considered by the ESRS Standards (Topic, Sub-Topic, Sub-Sub-Topic) and to additional entity-specific issues.

Identification of potentially significant impacts, risks and opportunities (IROs) for the Poste Italiane Group

With reference to impacts, the Group reconciliation of the impacts identified in the 2022-2023 materiality cycle to the sustainability issues considered by the ESRS Standards and to additional entity-specific issues, integrating new impacts in order to ensure an exhaustive coverage of all issues, sub-topics and sub-sub-topics potentially relevant to the Group. The impacts identified were then classified according to their nature, distinguishing between positive or negative, actual or potential.

Next, the scope of impacts along the value chain was defined, distinguishing between upstream, own operations and downstream. Finally, the time horizons within which each impact manifests its effects have been established, divided into short term (within 1 year), medium term (within the plan period, between 2 and 5 years) and long term (beyond the plan period, more than 5 years). In order to identify risks and opportunities, first an analysis of the Group’s relevant activities was carried out, consistent with the 2022-2023 materiality analysis cycle, and then proceeded to relate them to the sustainability-related topics, sub-topics and sub-sub-topics contemplated in ESRS 1.

In view of the findings, an analysis of opportunities and risks (strategic and emerging) mapped in the Enterprise Risk Management area was carried out, consistent with the Strategic Plan 2024-2028 and the Annual Financial Report 2023. Following the verification of ESRS topic coverage, the list of potentially relevant risks/opportunities (long list) was consolidated. Based on this long list, an assessment of risks and opportunities was carried out in order to identify those relevant to the Poste Italiane Group.

The assessment was carried out in consideration of the Impact Materiality and on the basis of possible dependencies of the Poste Italiane Group (e.g. energy resources for the corporate fleet), as well as considering the players in the value chain that contribute to the generation of the identified risks/opportunities and the reference time horizon, divided into short term (within 1 year), medium term (within the plan period, between 2 and 5 years) and long term (beyond the plan period, more than 5 years).

Definition of the scoring mechanism and relevance thresholds

With reference to the significance value of impacts, an evaluation scale was defined, based on the following criteria: Magnitude, extent of the positive or negative effects of the impact on the environment and people, assessed on a scale from 1 (None) to 5 (Very High); Scope, extent of the impact in terms of geography and/or number of individuals affected, measured on a scale from 1 (Limited) to 5 (Systemic); Irremediable nature (only for negative impacts), Poste Italiane Group’s ability to remedy the effects of the impact, assessed on a scale from 1 (Easily remediable) to 5 (Irremediable).

On the basis of this assessment scale, the significance of impacts was defined as the mean of the magnitude, extent and irremediable nature values for negative impacts and the mean of the magnitude and extent values for positive impacts. Furthermore, an additional increment of 1 was assigned to all potentially significant human rights impacts, with the aim of increasing their significance in line with the provisions of ESRS 1 and the MAIG Guideline. With reference to the probability of occurrence of impacts, a scale of values from 1 to 5 was defined, assigning a maximum value of 5 to all actual impacts and involving the reference functions to establish the probability of occurrence of potential impacts, based on evidence from an internal desk analysis. The methodology for calculating the significance of each identified impact was defined as the product of its associated significance and probability.

Finally, taking into account the Enterprise Risk Management thresholds used for the assessment of risks and opportunities, a materiality threshold of 8 was determined.

In line with the Enterprise Risk Management framework, risks and opportunities are assessed through the drivers of impact (quantitative and qualitative) and probability of occurrence of the risk event on a 5-value scale. The assessment was carried out consistently with the metrics adopted in the Enterprise Risk Management area and the reference thresholds, in order to attribute a scoring in line with the assessment criteria defined by the ESRS standards.

The combined assessment of probability by impact allows the risks to be classified as follows:

Tier 1: risks with rating of 12 or higher;
Tier 2: risks with rating between 8 and 10;
Tier 3: risks with rating lower than 8.

Based on the assessments performed, and in line with the Enterprise Risk Management methodology, risks and opportunities falling within Tier 1 were identified as relevant for the Poste Italiane Group. Based on the outcome of the assessment of the various risks and opportunities, the Poste Italiane Group has identified priority mitigation/enhancement actions, according to the relevance of the risks and opportunities.

Stakeholder engagement and determination of relevant IRO for the Poste Italiane Group

With reference to the impacts, in order to assess their significance, the Poste Italiane Group involved a broad panel of stakeholders in the annual “Multistakeholder Forum” initiative, which, now in its eighth edition, has been updated in accordance with the new regulatory requirements of the CSRD and ESRS standards.

Live streamed to ensure the broadest participation possible, in 2024, the initiative involved more than 1,000 participants and created an opportunity for reflection and the sharing of ideas and projects useful for the creation of shared value with the main stakeholders with whom Poste Italiane interacts in carrying out its activities, enabling the achievement of the Group’s strategic objectives.

Specifically, the activity provided for the organisation of four thematic focus groups, with the provision of an interactive questionnaire aimed at assessing the significance of potentially material impacts defined by the Poste Italiane Group on the basis of its business activities in relation to the ESRS topics “Climate change”, “Pollution”, “Water and marine resources”, “Biodiversity and ecosystems”, “Resource use and circular economy”, “Own workforce”, “Workers in the value chain”, “Affected communities”, “Consumers and end users”, “Business conduct” and the Entity Specific topic “Sustainable finance”. For each of the potentially significant impacts, stakeholders were asked to assess their magnitude, extent and irremediable nature (for negative impacts only).

The activity thus contributed to the identification of ESG information to be reported within the Group’s Sustainability Report 2024 and to determine the main sustainability issues that, at a strategic level, can define the guidelines of the Group’s ESG commitment. With reference to the risks arising from the ERM Model, the analysis is updated on a quarterly basis as part of the monitoring activities carried out by the Group Risk and Compliance function. These activities normally envisage, for each relevant risk, the involvement of the competent corporate functions for the purposes of updating the quantitative and qualitative data/information on the basis of which the trend of the risks themselves is determined, reviewing, if necessary, their assessment, in accordance with the Group’s Risk Management methodology.

On the basis of the scoring mechanism and the materiality thresholds established, Poste Italiane identified a total of 45 impacts, 22 risks and 9 opportunities relevant to the Group. These findings were shared with the Sustainability Committee, the Control and Risk Committee and the Board of Statutory Auditors. The Board of Directors subsequently approved the entire process. It is specified that, regarding ESRS topic E3 “Water and marine resources”, given its nature as a large integrated and omnichannel service platform in Italy, the Poste Italiane Group monitors water consumption for civil use at post offices, without significant impacts on water sources. Nevertheless, the Group targets efficient water management, taking concrete actions to reduce water consumption and promote its proper use to prevent and avoid waste. Furthermore, with reference to ESRS Topic E4 “Biodiversity and Ecosystems”, the analysis led to the identification of the topic of biodiversity as substantially irrelevant in view of the nature, activities and sector in which the Group operates.

Material impacts, risks and opportunities

The Poste Italiane Group, in consideration of the unique characteristics of its business and on the basis of the operating context and the main players identified along the value chain, has identified the impacts, risks and opportunities relevant to it, by conducting the materiality analysis process, which is further detailed in the section ‘Managing impacts, risks and opportunities’.

The following table represents the relevant IROs identified through the materiality assessment conducted, indicating their respective time horizons, their location in the value chain and their connection to the business model with reference to the Group’s Business Units.

ESRS E1 - Climate Change

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Adaptation to climate change	I	Global average temperature increase (-) (E)	Medium-term Long-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Deterioration of quality delivered Inadequate quality delivered and failure to meet regulatory and contractual standards resulting in fines and penalties	Short-term Medium-term Long-term	Upstream Own operations Downstream	-	Mail, Parcels & Distribution
	R	Restrictions on Poste Italiane’s business operations due to extreme weather conditions related to climate change	Medium-term Long-term	Upstream Own operations Downstream	-	Mail, Parcels & Distribution
Mitigation of climate change	I	Production of greenhouse gas emissions throughout the value chain (-) (E)	Short-term Medium-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Underestimating sustainable development and not actively pursuing decarbonisation can lead to serious consequences in terms of corporate reputation, with negative impacts on stakeholder trust, market opportunities and overall company value	Long-term	Upstream Own operations	-	Mail, Parcels & Distribution
	O	Reduction of emissions related to the use of the vehicles making up the corporate fleet by virtue of a review of business models resulting from the transformation of mobility	Long-term	Own operations	-	Mail, Parcels & Distribution
Energy	I	Energy consumption from renewable sources throughout the value chain (+) (E)	Short-term Medium-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Non-/partial achievement of growth targets in the Energy market Non-achievement of business objectives related to the energy sector, due to strong market competition and regulatory issues	Short-term Medium-term Long-term	Upstream Own operations	-	Postepay Services
	R	Rising cost of raw materials and supply difficulties (e.g. oil, gas and energy) resulting from the current geopolitical context	Short-term Medium-term	Upstream	-	Cross-sectional
	O	Decrease in the Group’s total energy consumption from non-renewable sources (e.g. fossil fuels) due to a review of business models resulting from the transformation of mobility	Long-term	Own operations	-	Mail, Parcels & Distribution

ESRS E2 - Pollution

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Air pollution	I	Production of air pollutants throughout the value chain (-) (E)	Short-term Medium-term	Own operations Downstream	People Environment	Mail, Parcels & Distribution
Air pollution	R	Restrictions on Poste Italiane’s operations, with particular reference to deliveries, due to traffic restrictions (e.g. restrictions on polluting vehicles)	Long-term	Own operations Downstream	-	Mail, Parcels & Distribution

ESRS E5 - Circular Economy

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Inflows of resources, including use of resources	I	Use of recyclable/biodegradable or recycled/regenerated materials in carrying out the Group’s activities (+) (E)	Short-term Medium-term	Upstream Own operations	Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy
Waste	I	Waste production resulting from the Group’s activities (-) (E)	Short-term Medium-term	Own operations	Environment	Mail, Parcels & Distribution
	I	Waste production from the supply chain (-) (E)	Short-term Medium-term	Upstream	Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy
	I	Waste production resulting from the use of the Group’s products and services by customers (-) (E)	Short-term Medium-term	Downstream	Environment	Mail, Parcels & Distribution; Payments and Mobile
	R	Incorrect/non-compliant waste management	Short-term	Upstream Own operations	-	Cross-sectional

ESRS S1 - Own workforce

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Working conditions	I	Lack of protection of rights with respect to employment contract and social protection (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Lack of protection of rights with respect to working time (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Lack of protection of rights with respect to freedom of association and collective bargaining (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Work-life balance (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Accidents, injuries and occupational illnesses (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Trade Union Conflicts: Tensions and industrial unrest related to the new delivery model and transformation actions	Short-term Medium-term	Own operations	-	Cross-sectional
	R	Accidents/Injuries to workers or contractors at the workplace Accidents to workers or collaborators at the workplace resulting from the execution of operational activities (e.g. acceptance, transport and sorting activities; postal product delivery activities with particular reference to the use of company motor vehicles and vehicles, counter activities)	Short-term Medium-term	Own operations	-	Cross-sectional
	R	Disputes and litigation: Disputes and litigation, judicial and extrajudicial, with suppliers, employees, customers or third parties that may involve compensation and/or payment of penalties.	Short-term Medium-term	Upstream Own operations Downstream	-	Cross-sectional
	R	DDelayed re-engineering of operations and delivery processes Difficulties/delays in the implementation and development of the operating model due to various constraints (personnel management policies, operations and delivery processes, technological innovation, labour relations) resulting in failure to achieve plan targets	Short-term Medium-term	Upstream Own operations Downstream	-	Mail, Parcels & Distribution
	O	and well-being plans (e.g. promotion of active parenting), taking advantage of changes in demographic and social composition, in order to increase labour market attractiveness	Medium-term Long-term	Own operations	-	Cross-sectional
Equal treatment and opportunities for all	I	Gender pay gap (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Employee attraction, development and training (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Social and labour inclusion of people with disabilities (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Incidents of violence and harassment in the workplace (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Plurality of work context (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Operational difficulties related to absenteeism rates and high rate of inability among employees Operational difficulties related to absenteeism rates and high rate of inability among employees (temporary or permanent unfitness for work, employment limitations), with potential impact on planned initiatives to increase productivity	Short-term Medium-term	Own operations	-	Cross-sectional
	O	Increased ability to attract talent to the market through equal treatment, opportunities, the development of employment protection practices and plurality of the work environment	Medium-term Long-term	Own operations	-	Cross-sectional
Other work-related rights	I	Incidents of violation of workers’ privacy (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Other work-related rights	R	Non-compliance with privacy regulations Processing of personal data in violation of applicable regulations	Short-term Medium-term	Upstream Own operations	-	Cross-sectional

ESRS S2 - Workers in the value chain

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Working conditions	I	Lack of protection of rights with respect to employment contracts and social protection with respect to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Lack of protection of rights with respect to working time for workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Occupational accidents, injuries and diseases at work with reference to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Inefficiencies related to supplier relations within the procurement process: Possible inefficiencies in the definition of relations with external suppliers, in operational activities, as well as in the Group’s dependence on external suppliers, which may jeopardise the success of procurement activities	Short-term Medium- term	Upstream Own operations Downstream	-	Cross-sectional
	R	Accidents/Injuries to workers or collaborators at the workplace Accidents to workers or collaborators at the workplace resulting from the execution of operational activities (e.g. acceptance, transport and sorting activities; postal product delivery activities with particular reference to the use of company motor vehicles and vehicles, counter activities)	Short-term Medium- term	Upstream Downstream	-	Cross-sectional
Equal treatment and opportunities for all	I	Gender pay gap with reference to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Social and labour inclusion of people with disabilities with reference to workers in the value chain (+) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Incidents of violence and harassment in the workplace with reference to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Plurality of the work context with reference to workers in the value chain (+) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Other work-related rights	I	Incidents of breaches of workers’ privacy in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Non-compliance with privacy regulations Processing of personal data in violation of applicable regulations	Short-term Medium- term	Upstream Own operations Downstream	-	Cross-sectional
	R	Deterioration of reputation and non-compliance with human rights standards resulting from relations with suppliers who exploit child/forced labour in non-EU countries	Short-term Medium- term Long-term	Upstream Downstream	-	Mail, Parcels & Distribution

ESRS S3 - Affected communities

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Economic, social and cultural rights of communities	I	Presence of services and infrastructure in outlying areas of the territory (+) (E)	Short-term Medium-term	Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Digital transformation of the Country (+) (P)	Medium-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Social exclusion of people experiencing economic hardship (-) (P)	Medium-term	Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Creating shared economic and social value for the community (+) (E)	Short-term Medium-term	Upstream Own operations Downstream	People Ambiente	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	O	Possibility of accessing funds and contributions for the realisation of initiatives benefiting outlying urban areas, also taking advantage of the widespread presence in Italy that allows for visibility of the products and services offered throughout the Country	Long-term	Own operations	-	Cross-sectional

ESRS S4 - Consumers and end users

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Business Unit
Information-related impacts for consumers and/or end users	I	Incidents of violation of consumers’ privacy (-) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Cyber attacks and data theft (-) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Computer system malfunctions and/ or security failures that may lead to personal data breaches, loss or compromise of information, operational blockages or slowdowns, customer disruptions	Short-term Medium- term	Own operations - Cross-sectional	Cross-sectional
	R	Non-compliance with privacy regulations Processing of personal data in violation of applicable regulations	Short-term Medium- term	Own operations - Cross-sectional	Cross-sectional
	R	Inadequate use of big data and artificial intelligence and an increase in privacy violations	Long-term	Own operations - Cross-sectional	Cross-sectional
	R	Risks related to the regulatory/ legislative framework for competition and consumer protection Tightening of regulations for competition and consumer protection, as well as unfavourable outcomes of investigations conducted by the competent authorities	Short-term Medium- term	Own operations Downstream - Cross-sectional	Cross-sectional
Social inclusion of consumers and/or end users	I	Lack of access to products and services for the most disadvantaged user groups (-) (P)	Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Digitalisation of products and services and development of innovative solutions (+) (E)	Short-term Medium- term	Own operations Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Customer satisfaction (+) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Economic damage to users who are uninformed about the products and services offered (-) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Failure to meet customer needs Provision of services and/or placement of products (also in integrated mode) that do not meet the real needs of business and retail customers in the postal/ logistics, banking, insurance, payments, mobile and energy fields. Limited satisfaction of business and consumer customer needs, for different products and services, throughout all stages of the customer life cycle	Short-term Medium- term Long-term	Own operations Downstream - Cross-sectional	Cross-sectional
	R	Risks related to the regulatory/legislative framework for competition and consumer protection Tightening of regulations for competition and consumer protection, as well as unfavourable outcomes of investigations conducted by the competent authorities	Short-term Medium- term	Own operations Downstream - Cross-sectional	Cross-sectional
	O	Opportunity to ensure accessibility to health protection even for the weaker sections of the population by contributing to sustainable development	Long-term	Own operations - Insurance Services Mail, Parcels & Distribution	Cross-sectional
Social inclusion of consumers and/or end users	O	Greater ability than competitors to understand customer needs, also with reference to targets in the “digital divide”	Long-term	Own operations Downstream -	Postepay Services Financial Services Insurance Services
Social inclusion of consumers and/or end users	O	Acceleration of the transition to digitisation, with a consequent increase in demand for the digital products offered by Poste Italiane	Medium- term	Own operations Downstream - Cross-sectional	Cross-sectional

ESRS G1 - Business Conduct

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Corporate culture	I	Incidents of violation of the Code of Ethics by Group employees (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Incidents of violations of the Code of Ethics by parties in the supply chain (-) (P)	Medium-term	Upstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Growing regulation in the field of artificial intelligence and consequent increase in compliance pressure	Medium-term Long-term	Own operations	-	Transversal
Protection of whistleblowers	I	Incidents of violation of the whistleblowing system (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Protection of whistleblowers	R	Failure to comply with whistleblowing legislation	Short-term	Own operations	-	Transversal
Policy engagement and lobbying	I	Anti-competitive practices and antitrust violations (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Management of relationships with suppliers including payment practices	I	Raising supplier awareness of ESG issues (+) (E)	Short-term Medium-term	Upstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Inefficiencies related to supplier relations within the procurement process: Possible inefficiencies in the definition of relations with external suppliers, in operational activities, as well as in the Group’s dependence on external suppliers, which may jeopardise the success of procurement activities	Short-term Medium-term	Upstream Own operations Downstream	-	Transversal
Active and passive corruption	I	Workers’ awareness of active and passive corruption (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Active and passive corruption	R	Non-compliance/adaptation with regulatory provisions on corruption	Short-term	Own operations	-	Transversal

ESRS ENTITY-SPECIFIC - Sustainable Finance

IRO	Description	Time horizon	Value chain	Impacts	Business Unit
I	Sustainable growth of the country through its investing and/or insurance activities (+) (E)	Short-term Medium-term	Own operations Downstream	People Environment	Financial Services; Insurance Services
I	Responsible investment and insurance practices (+) (E)	Short-term Medium-term Long-term	Own operations Downstream	People Environment	Financial Services; Insurance Services
O	Increased market attractiveness resulting from an increase in investment operations/practices that take ESG profiles into account, as well as the offering of sustainable insurance products/solutions	Short-term Medium-term	Own operations Downstream	-	Financial Services; Insurance Services

The largest infrastructure in Italy

Investing in Poste Italiane

Governance

Media

Purpose of Poste Italiane

Poste Italiane wins Top Employer title in 2025

Materiality analysis

Double materiality analysis

Material impacts, risks and opportunities

Company Information Poste Italiane SpA

Registered Office

Seguici su