Standard Ethics is a Self-Regulated Sustainability Rating Agency that issues extra-financial sustainability ratings, providing independent assessments compared to the main international sustainability guidelines issued by the UN, OECD, and EU.
In February 2026, the agency issued the Group's first Corporate Standard Ethics Rating (SER), assigning a rating of "EE-" (Adequate) and a Long-Term Expected Rating of "EE+" (Very Strong).
The Standard Ethics rating recognises the Bank's progressive alignment with the international guidelines of the UN, OECD, and EU, supported by structured sustainability governance and adequate ESG reporting and disclosure. The assessment highlights the presence of a structured ESG Risk Management process and a Sustainability Plan integrated into the 2025-2027 Strategic Plan aimed at reducing environmental impacts within a balanced and coordinated governance system between the Parent Company and Affiliated Banks. The Group's corporate structure has a positive impact on its local roots and on the attention paid to stakeholders and social issues by the Parent Company and Affiliated Banks in their respective areas of competence.
The results of the assessment are presented in the Final Report, which details the criteria and elements taken into consideration for the purpose of assigning the rating.
For further information: www.standardethics.eu
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Morningstar Sustainalytics ESG Risk Rating is a tool that assesses the risk associated with environmental, social and governance (ESG) factors for companies and organisations. The assessment provides insight into how a company addresses and manages risks and opportunities arising from ESG factors, which can significantly influence its long-term performance.
The evaluation of our Group
The Cassa Centrale Group obtained an ESG Risk Rating score of 16.6, an improvement on the previous score of 17.1, confirming its position in the 'Low Risk' category, which indicates a reduced level of risks of suffering significant financial impacts from ESG factors.
Under no circumstances may the ESG risk rating be interpreted as investment advice or expert opinion as defined by applicable legislation.*
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INVOLVEMENT IN SPECIFIC ARMED ACTIVITIES
Thanks also to the information sent by the Institute, it was possible to verify minimal involvement (concerning small and medium-sized enterprises) in the areas assessed by the criteria in the first part of the matrix, both in terms of specific activities, including exports, and in terms of financing (with precise details on the companies involved). Shareholding is minimal.
OVERALL INVOLVEMENT WITH THE ARMS INDUSTRY
Although the overall involvement with the arms industry is spread across a number of small and medium-sized enterprises, it is considered minimal in all areas considered: shareholding, financing and exports.
POLICY ON THE ISSUE AND OPENNESS TO TRANSPARENCY AND ENGAGEMENT
The willingness to engage and exchange information was high and positive, with effective discussion on both data extraction methods and the content provided. A Confidentiality Agreement was signed with the Institute. The latter has a group policy on the arms sector, which is comprehensive and was updated in February 2025 with the introduction of paragraphs relevant to the evaluation. The level of transparency found allows for a sufficiently clear understanding of the approach adopted and how the policy is applied.
The ZeroArmi report is available at www.finanzadisarmata.it
The ZeroArmi Project, promoted by Fondazione Finanza Etica in collaboration with Rete Italiana Pace e Disarmo (“Italian Peace and Disarmament Network”), was created with the aim of analysing and providing information on the involvement of Italian banks in the arms sector, and represents a tool to stimulate constructive dialogue between credit institutions and civil society.
The 2025 results confirmed the minimal involvement of the Cassa Centrale Group, a further improvement on 2024 and without this leading to restrictions on the development of credit and relations with our businesses and territories.
This result is consistent with the Group's Sustainability path, which reflects its mission and nature as a Cooperative Banking Group, reaffirming its commitment to operating according to principles of legality, integrity, professionalism and transparency.