Stakeholder Engagement
We pay particular attention to the quality of relations with internal and external stakeholders, to understanding their different points of view, expectations and needs, and to adapting the service model accordingly. The Group has therefore adopted a proactive approach to the plurality of stakeholders with whom it interacts through various channels and tools.
Internal stakeholders:
- Subsidiary banks
- Subsidiary companies
External stakeholders:
- End Customers / Bank Users
- Members and shareholders of the Parent Company
- Co-operative members of the individual subsidiary banks
- Employees
- Trade Unions
- Third Sector, Bodies and Institutions (local authorities, public bodies, regulators and trade associations)
- Suppliers of goods and services
- Media
The materiality analysis
Through the stakeholder engagement process, we aim to exchange information, listen to and learn from stakeholders in order to increase awareness and build trust with respect to shared issues.
Materiality analysis therefore becomes a key tool, as it allows us to identify the most relevant non-financial issues for both our Group and our stakeholders. This process, which guides reporting according to the European Sustainability Reporting Standards (ESRS), also helps us establish our sustainability priorities.
The Materiality Analysis process was structured according to the following steps:
Context assessment and definition of the stakeholder engagement strategy
Identification of actual and potential impacts to be assessed
Assessing the significance of impacts
Prioritising the most relevant impacts and determining the list of material issues
Approval of the list of material topics by the Board of Directors of Cassa Centrale Banca
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Double Materiality
Among the main innovations introduced by the European Sustainability Reporting Standards (ESRS), Double Materiality emerges as a key element. This approach requires the materiality analysis to consider both the impact of the organisation's activities on sustainable development (Impact Materiality) and how environmental, social and governance issues affect the organisation's performance, cash flows and positioning (Financial Materiality). In line with CSRD provisions and EFRAG standards, the Cassa Centrale Group conducted a 'Double Materiality' exercise to identify significant impacts, both positive and negative, that generate risks and opportunities in the short, medium and long term. These were analysed and integrated with financial risks and opportunities, in accordance with the Group's documental framework and recognised international ESG guidelines.
The following topics have been identified as material for the Cassa Centrale Group.
Crucial issues:
- Wellbeing, work-life balance and corporate welfare, People scope
- Training and skills development, People scope
- Responsible lending policy and offering products/services with a social/environmental purpose, Customer scope
- Management and reduction of environmental impacts, Environment scope
- Support for Communities and the Third Sector, Communities and Members scope
- Financial education and inclusion initiatives, Communities and Members scope
- Operations rooted in local Areas, Communities and Members scope
- Corporate governance and decision-making, ESG Governance scope
- Talent attraction, development and retention, People scope
Very relevant topics:
- Supporting the business system and families, Communities and Members scope
- Value creation and business sustainability, ESG Governance scope
- External relations and management of dealings with members, Communities and Members scope
- Diversity, equal opportunities and inclusion, People scope
- Ethics and Integrity in business management, ESG Governance scope
Relevant topics:
- Service quality, listening and Customer satisfaction, Customer scope
- Privacy and data protection, Customer scope
- Transparency in Customer communication, Customer scope
