The Integrated Report has been prepared by applying the Integrated Reporting framework published by the International Integrated Reporting Council (IIRC). Also, the guidelines provided by ESMA1 and CONSOB2 on reporting for the year 2020 were fundamental to the preparation of the document, which indicated the priorities for non-financial reporting in a period characterised by a health emergency. In this regard, both institutions reiterated the need to continue actions to combat climate change and transparency on the approaches adopted on this front. In line with this, the Integrated Report, again this year, describes how risks and opportunities associated with the Group's activities are managed in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) accounting for climate-related risks and opportunities.
The Group’s fourth Integrated Report has been prepared by applying the framework for Integrated Reporting published by the International Integrated Reporting Council (IIRC). Poste Italiane has also reported the Covid-19 disclosures that ESMA1 has required issuers to provide in their Annual Financial Reports and Non- Financial Statement for 2021. ESMA not only identifies the impacts of the pandemic as a priority of the 2021 non-financial report, but also topics related to climate change. In this context, it should be noted that in 2021, Poste Italiane officially became a supporting member of the Task Force on Climate-related Financial.
Disclosure, thus intensifying its commitment in that area. Not only does the new version of the integrated document illustrate the risk management methods and the opportunities associated with the Group’s activities according to the TCFD recommendations, it also contains a table linking the recommendations of the TCFD with the content of the Integrated Report, extending the Group’s disclosure on managing climate change-related risks and opportunities. Lastly, this year Poste Italiane carried out a review of the climate scenarios, using as a reference the document prepared by the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) and the main literature on this subject, with the aim of reflecting potential future developments in this area.
In line with 2020, the indicators of the 2021 Integrated Report are reclassified according to the standards of SASB (Sustainability Accounting Standards Board), again demonstrating the attention reserved by the Group to requests for information from investors in relation to the assessment of companies according to ESG criteria. In addition, Poste Italiane, proving its commitment to take part in the creation of a shared and universal framework for non-financial reporting, also reports this year the indicators related to “material ESG metrics”, present in the latest version dated September 2020, in the “Towards Common Metrics and Consistent Reporting of Sustainable Value Creation” document presented in January of that year at the World Economic Forum.
Over time, Poste Italiane has continued to contribute to the 17 Sustainable Development Goals of the United Nations, and in this sense, the Document provides an overview of the impact of this contribution using a table linking the targets pursued by the Group, the GRI Standards indicators and the SDGs, adopting the latest indications contained in the latest version of the document “SDG Compass” prepared by GRI, UN Global Compact and WBCSD (World Business Council for Sustainable Development).
This Annual Financial Report is also formed of the following documents: the consolidated financial statements of the Poste Italiane Group, the separate financial statements of Poste Italiane including BancoPosta’s separate report, the associated declarations pursuant to art.154 bis, section 5 of Italian Legislative Decree 58/1998 and the reports by the Board of Statutory Auditors and the Independent Auditors, referring to the financial year ended at 31 December 2021, and the Report on Corporate Governance and the Ownership Structure published on the Company’s website in the Governance section, to be considered an integral part and to which reference is made for further information about the Corporate Governance structures.
In the process of developing Poste Italiane’s sustainability strategy, listening to the needs of key stakeholders has played a pivotal role for the Group, with the Company ensuring that these are integrated into their sustainability policies.
The Group’s materiality analysis, a process that involves both internal and external stakeholders and identifies the most important areas for the company (from both a strategy and reporting aspect), make up the Materiality Matrix, with the key areas to be considered.