Commitment to sustainability
Banca Finnat Group's business model is based on the concept of corporate social responsibility, on the relationship of trust built up over time with all stakeholders and on the ability to generate shared value, with increasing focus on environmental, social and governance (ESG factors).
This commitment applies not only to the day-to-day work of all professionals at the Group but also in the many activities we carry out for our clients: the importance of pursuing sustainable growth and development opportunities that can have a positive impact on the Bank, the Group and the community at large is widespread and shared within the Group.
Some of the initiatives developed by Banca Finnat Group to promote these values are listed below.
ESG values are promoted throughout the Bank and the Group through our Code of Ethics and our Organisational and Management Model. Banca Finnat's Code of Ethics sets out the ethical values and principles aspired to by Banca Finnat and its subsidiaries: lawfulness, integrity, dignity and equality, quality, business ethics, professionalism and collaboration. It lays down the values that the Bank recognises, shares and promotes, in the knowledge that these principles represent an important driving force for economic, social and environmental development. Our Organisational and Management Model, maintained and updated over time, sets out the principles, rules of conduct and operating procedures aimed at preventing the commission of offences and ensuring that the conduct of those operating on behalf of the Bank not only complies with the regulations governing its various activities, but is also ethically correct. Compliance with the Code and with the Model is monitored by control and supervisory bodies through specific inspections and reviews. Of these bodies, the Supervisory Committee is in charge of monitoring the adequacy of and compliance with the aforementioned Model. The Committee is made up of three professionals external to the Bank, who report directly to the Board of Directors, to ensure autonomy.
The Bank decided some time ago to combine financial valuations - on which investment decisions are traditionally based - with analyses and assessments of environmental, social and governance factors, with the aim of making more responsible and sustainable investments.
This way of operating, initially pursued as a best practice by the Bank's managers, was later transformed into a specific commitment:
- the criteria identified to improve the ESG quality of portfolios and the means for mitigating ESG risks (exclusion criteria) are now part of the Bank's procedures;
- the main asset management lines are centred around a focus on these issues.
The Bank therefore has a commitment to its investors, written into its contracts, to pursue an optimal risk/return ratio while also taking account of ESG factors and complying with predefined limits and rules. Similar measures are being adopted for the other products managed by the Bank (funds and SICAV).
In 2018 Banca Finnat launched a project to raise awareness among the SMEs working with the Bank on the importance of ESG factors, on their promotion in the business model and, more broadly, in company organisation.
As part of its research into listed issuers, the Bank has also planned to include a dedicated section (ESG Highlights) outlining the results of the research, conducted by the Bank's analysts into each business, including the following steps:
- completion of a questionnaire, drawn up by the Bank and inspired by similar practices implemented by the Integrated Governance Index, to acquire information on a number of environmental, social and governance factors;
- meetings with the management of the companies being researched, where matters relating to ESG aims can be raised;
- proper representation of outcomes in the ESG Highlights section of the research and monitoring of their development in research “updates”.
Since its foundation, Banca Finnat has always considered the protection of artistic and cultural heritage an integral part of the Group's strategy and a distinctive factor to be safeguarded.
Our institute preserves and protects a number of artworks, including paintings, vases, consoles, ceramics and tapestries. Banca Finnat Group's collection includes work by some of Italy's and Europe's best-renowned painters, including Van Dyck, Rubens, Bassano, Lavinia Fontana, Brandi and many more.
Banca Finnat intends to strengthen its commitment to projects aimed at promoting this heritage, continuing to raise awareness among the wider public and launch cultural initiatives.
Some of its cultural initiatives include support for:
- the Accademia Filarmonica Romana, one of Italy's oldest music institutions founded in 1821;
- the Associazione Amici della LUISS, which, among other things, funds research grants for young graduates intending to continue their studies and embark on a scientific career.
Banca Finnat promotes and supports various initiatives and associations set up to help children and adults in financial and health difficulties.
Here are some of the associations and bodies we have supported over time:
Ospedale A. Gemelli, Rome
Ospedale Pediatrico Bambino Gesù
Associazione Peter Pan
Ospedale L. Spallanzani, Rome
Banca Finnat has always invested in listening to its clients and in selecting the most capable co-workers, building the skills...