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GROUP COMMITMENT

"More and more companies are reaching out to their suppliers

and contractors to work jointly on issues of sustainability,

environmental responsibility, ethics, and compliance."

Simon Mainwaring

We want to support the transition to a more sustainable economy and society and we have therefore adopted clear principles to guide our decisions:

  • limiting global warming and development of climate change adaptation strategies;

  • reduction in the consumption of natural resources;

  • pollution prevention and protection of biodiversity.

We put these principles into practice by monitoring and reducing our direct impacts, linked to the Group's operational activities, and indirect impacts related to our products, services and investments. We also collaborate with governments and associations to promote the development of system solutions.

In particular, we have identified the following areas of intervention, for which we have established specific indicators and targets to be achieved:

  • integration of environmental and climate aspects into insurance underwriting and investment strategies;

  • strengthening public awareness of environmental and climate risks by promoting dialogue between stakeholders;

  • reduction of environmental impacts generated by the Group's offices and by staff business travel;

  • transparency regarding our policies and reporting on the results achieved.

The Generali Group Strategy on Climate Change, approved by Assicurazioni Generali's Board of Directors on the 21st of February 2018 and updated on the 30th of June 2021, is a key reference point for the Group: it provides an overview of the decisions taken to promote a fair and socially just transition to a net-zero emission economy.

Generali Real Estate Commitments

NET-ZERO Asset Owner Alliance (NZAOA)

The Net-Zero Asset Owner Alliance was launched in September 2019 by the United Nations, since asset owners have a key role in driving the decarbonization of the economy through their investments. As a member of the Net-Zero Asset Owner Alliance, Generali is committed to gradually decarbonizing its investment portfolio in order to reach its carbon neutrality by 2050. Generali has set specific decarbonization targets for 2025 for the direct investments portfolio; for real estate in particular, on average the selected portfolio will be aligned with the decarbonization pathway of the CRREM model, to limit global warming to 1.5° C.

GREEN BOND

In the Generali Green Bond, assets are included, which fulfill particular high ESG criteria, like high-level certification for newly acquired buildings (i.e. LEED Gold, BREEAM Very Good or plus), energy monitoring, optimization of energy efficiency improvement >30% for retrofitting.



Some ‘green assets’ included in the Green Bond II:

Viale della Liberazione, The Corner, Milan

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The works carried out have kept unchanged the intended use of the building (offices), expanding the surface with the raising of a floor.
The intervention resulted in an improvement in energy performance, thanks to the complete renovation of the building envelope (facades and roofing) and systems. Due to the renovation works and the technical equipment the energy saving is estimated at 61% while also the CO2 emissions in operation are reduced by 58% (without considering the potential purchase of CO2-free electricity).

The EPC of the building improved from D to A2 (97 kwh/m2), obtaining the qualification as “Nearly Zero Energy Building”.

  • Old oil-fired boilers replaced by ground water condensed multipurpose heat pumps that feed a 4-pipe system with radiant ceiling panels, floor fan coils and radiators in the bathrooms.

  • Each module is managed by a dedicated controller complete with temperature probe, presence sensor and anti-condensation probe.

  • Air handling units with cross flow recovery device, steam humidification and fans equipped with inverters.

  • LED lighting has replaced fluorescent lamps.

  • Renewable energy production through photovoltaic system and use of ground water.

Fhive and Coeur Marais, Paris

Fhive

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Two historical assets built in the 1800s, located close to each other in the heart of Marais district in Paris. After a major renovation both obtained HQE certification, EXCELLENT and the BBC Effinergy renovation label, which attests their high energy performance. More recently, the assets obtained the BREEAM IN USE certification, EXCELLENT, showing also high commitments as regards health and wellbeing.

  • Connection to district heating for Cœur Marais

  • CO2-free electricity supply for both Coeur Maris and Fhive since beginning of 2018

  • Building Management System (BMS) in both buildings: connecting to HVAC system, lighting and comfort control (Heating, Air conditioning, Ventilation), regulation according to the outside temperature

  • Electric car charging stations in the underground car park

  • Rainwater collection tank in Coeur Marais, water-saving sanitary equipment’s in both buildings (infrared detection + aerators)

  • 4 waste streams are separated on site

  • Extremely well connected with public transportation in Paris city centre

  • Several free public bicycle stations located in the neighbourhood (<50 m), secure bike storage, changing rooms and showers

  • Co-working space and co-living at work in Coeur Marais

  • Green roof and green courtyard to improve tenants' thermal comfort

Sono West, Frankfurt

Sono West

The 8,200 square meters Generali property in Frankfurt is the German headquarter of Jones Lang LaSalle SE, who occupies the entire building.

  • The heating system is powered by district heating, so minimizing the CO2 impact into the atmosphere.

  • There are charging stations for e-cars in the underground car park

  • The project has reduced potable water use by 41%

  • The building is located directly on the opposite side of the Westend subway station.

  • Bicycle storage, changing and shower facilities are present in the building

  • Building's flexibility to enhance internal design, connect teams and promote a sense of community and new ways of working

  • Extensive roof greening reduces the necessary cooling performance and the associated energy consumption of the building

The property has a Building Management System (BMS) that automatically controls the heating, cooling and water supply and adjusts it to consumption

Palazzo Berlam, Trieste

Palazzo Berlam - Trieste

Palazzo Berlam, one of the Generali premises in Trieste, was built in 1900s and is known as the first skyscraper of the city. Modernist asset identifiable for its red bricks coating was the former Generali Real Estate HQ until 2017 while now, after a major refurbishment lasting 3 years, it hosts the Generali Academy and offices. Thanks to the renovation works and the technical equipment the energy saving is up to 56% while also the CO2 emissions in operation are reduced by more than 50%.

The EPC of the building improved from D to B (169 kwh/m2).

  • The heating system is powered by renewable sources, by using the water sea and groundwater in order to enhance energy performance and minimize the consumption.

  • The thermal comfort is guaranteed by the synchronization/integration between ceiling radiant panels and active chilled beams.

  • The lighting system is LED with automatic control.

  • Building consumptions reduced, although the occupancy is now up to 500 people vs 191 people before intervention.

  • High level standards followed for façade insulation and thermal break joinery, low consumption lifts.

  • The building is located directly in front of the sea and the relevant rooms provide with the view of a natural outdoor environment.

Building's design (including a roof terrace and a public Caffetteria at ground floor) to enhance social events, connect teams and promote a sense of community and new ways of working.

Some ‘green assets’ included in the Green Bond I:

Generali Tower, Milan

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Generali Tower is part of CityLife, one of the most important urban redevelopment projects in Europe, a balanced mix of private and public services including a business hub, a shopping district, a residential area and Milan's third largest park.

The tower (170 meters, 44 storeys) has a sinuous shape and was designed to guarantee the highest levels of efficiency and the maximum control of energy consumption.

It has obtained the LEED ‘Platinum’ certification.

This iconic office tower, Generali Group Headquarters, stands for Innovation, Sustainability and Corporate Citizenship, which are core values for the Group.

Fencourt, London

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Fen Court is in a prime location in the heart of the tower cluster of the City of London.

Its 15 storeys offer over 39,800 sqm of office and retail space, a public passageway through the building with 180 sqm digital LED ceiling to be used for public art installations, and a panoramic restaurant on the 14th floor.

The building is crowned by a public roof garden offering stunning views to the London skyline and 3 new public spaces which were created within and around the building.

Fen Court has been designed to the highest environmental sustainability requirements and has achieved the BREEAM ‘Excellent’ certification.

A GENERALI GROUP COMPANY

VAT number 01333550323

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