Stakeholder dialogue and double materiality analysis

We are aware that the constantly evolving social and economic context and the ever-increasing awareness of consumers require every company to be able to cope with new dynamic scenarios. For this reason, we believe that a structured approach to stakeholder involvement is necessary to guide the corporate strategy on issues potentially relevant to the Intesa Sanpaolo Group and its stakeholders.

Non-financial and sustainability reporting focuses on relevant aspects that reflect the impacts, positive or negative, actual or potential, generated by the activities of the Intesa Sanpaolo Group on the economy, the environment and people, including the impacts on their human rights, capable of significantly influencing the perception of its stakeholders.

Compared to the 2023 reporting, conducted according to the GRI Standards – Universal Standards (2021), the Group's 2024 double materiality analysis is aligned with the ESRS, which integrate the concept of materiality, requiring consideration of both the impact of the Group's activities (impact materiality) on external and internal stakeholders and the external risks and opportunities that have or may have material financial implications on the Group (financial materiality). Specifically:

impact materiality takes into account the impacts related to the company's own operations and the upstream and downstream value chain that are significant for the Group, both positive and negative, and actual or potential (inside-out logic), in the short, medium or long term. The Group's impact identification and assessment phases were conducted in continuity with the approach adopted in 2023;
the financial materiality (outside-in logic) envisaged by the ESRS reporting standards considers the sustainability issues that generate:
- risks that affect or may affect the development of the company, its financial position, economic performance, cash flows, access to finance or cost of capital in the short, medium or long term;
- opportunities that have, or can be expected to have, a significant financial influence for the Group in the short, medium or long term.

In 2024, the Group analysed both dimensions, and reported in the Consolidated Sustainability Statement on the aspects relevant to these prospects, in order to identify and assess material impacts, risks and opportunities, also referred to as material IROs (impacts, risks and opportunities).

The Group conducted the double materiality analysis by considering and enhancing the peculiarities of the business lines and geographies in which it operates and in which the counterparties with whom the Group has business relationships operate. The type of suppliers and counterparties is a further element considered during the analysis and evaluation phase.

The aspects relating to double materiality, in addition to being a fundamental element of sustainability reporting, are decisive as they contribute to orienting the corporate strategy on issues relevant to the business and stakeholders.

Stages of the analysis

The double materiality analysis was developed according to the following macro-phases:

mapping of the Group's stakeholders;
context analysis, aimed at identifying the actual and potential positive and negative impacts on the economy, the environment and people, including human rights, generated by the Group's activities, as well as the risks and opportunities generated by the external environment, based on the analysis of various sources, such as national/international documentation in the ESG regulatory context and documentation relevant to the sector in which the Group operates at national and international;
identification of impacts, risks and opportunities to be investigated and potentially relevant for the Group;
assessment of potentially significant IROs for the Group carried out through:
- an internal analysis based on metrics aligned with the requirements of the ESRS reporting standards. Specifically, the materiality of IROs was assessed on the basis of exceeding a certain materiality threshold defined in accordance with and alignment with the Group's current risk management process;
- the involvement of its stakeholders, through the stakeholder engagement and stakeholder management activities detailed below;
- the identification of sustainability issues relevant to the Group on the basis of the aggregation of the relevant outcomes of the IROs deriving from internal analysis and stakeholder engagement activities;
consolidation and sharing of the list of material sustainability issues for the Group.

The process will be updated on an annual basis and revised based on any regulatory changes.

Stakeholder map

People of the Group

Network personnel, staff personnel, junior employees, senior employees, managers, top management, Trade unions.

Customers

Retail and household customers, SME customers, Large corporate customers, Consumer Associations, Public authorities and Public Administration, Third sector, Professional associations.

Shareholders

Small investors, Foundations, Institutional investors, Shareholders' associations.

Suppliers

Large-scale suppliers, Small-scale suppliers, Trading partners, Sub-suppliers.

Environment

Environmental Associations, Future generations, Scientific community.

Community

Associations representing our stakeholders; Regulatory authorities; National and international public institutions; Media, NGOs.

Listening methods applied to each category of stakeholders and a summary of the sustainability matters explored with each category

Category of stakeholder	Stakeholder	Listening method	Summary of the issues covered
Customers	Retail customers Corporate customers	Integration of dedicated questions in the retail customer questionnaire and interview with BdT Business Structures Integration of dedicated questions in the customer questionnaire and interview with BdT Business Structures	Initiatives for environmental protection and reduction of the environmental footprint of the Group’s offices and branches Responsible, solid and sustainable governance, value creation and distribution for all the Group’s stakeholders Commitment to promoting sustainable economic development, also in light of the international and EU objectives in the Climate Change and sustainability area. More specifically, promotion of an economic model with low carbon emissions based on the circular economy, through the development of a dedicated, customercentric offering Pursuit of the banking business in full compliance with the rules and principles of fairness in business Disbursement of loans to sections of society that would find it difficult to access credit, and provision of products with a high social impact Attention to service quality, customer care, relationship and satisfaction Promotion of a growth strategy geared towards digital innovation to anticipate new trends and be competitive on the market Commitment to asserting its role as a digital company through an advanced multichannel platform aimed at ensuring an innovative, safe and effective offer Commitment to guaranteeing IT security to its customers Sustainable investments and integration of sustainability issues in the conduct of the insurance business Talent development, development of internal skills, evaluation and incentive systems, regular training plans, diversity management Support to the community and commitment to culture through solidarity initiatives with projects carried out in partnerships, donations and sponsorships, promotion of art and culture in Italy and abroad.
Environment/Community	Representative figures / reference experts	Virtual one-to-one interviews with representative figures of the Community and the territory and interview with the internal structures	Environmental aspects, in particular in relation to climate change and biodiversity Evolution of the regulatory environment (e.g. CSDR, ESRS) and the potential impacts on organisations Ability to promote a systemic approach towards the achievement of the Sustainable Development Goals (SDGs) defined in the context of the United Nations ▪ Leading role of the Intesa Sanpaolo Group on ESG issues Importance in communicating the results achieved and the objectives set in the sustainability and ESG area Main challenges and strengths of the Intesa Sanpaolo Group for the implementation of the Business Plan with a focus on the ESG area Importance of diversity and inclusion within the workplace Relevance of the concept of Innovation and related satisfaction of customer needs Customer loyalty Support for SMEs in the sustainability area Educating new generations on sustainability issues
Shareholders/investitors	SRI Investitors	Analysis of the main questions asked by the ESG Investors of the Intesa Sanpaolo Group	Environmental aspects, in particular relating to climate change adaptation, biodiversity, natural resources and decarbonisation Aspects relating to finance and sustainable investments Standard sustainability policies Inclusion and diversity Employee well-being Development and digitalisation ESG sustainability and integration in business strategies Gender pay gap Workers' rights and corporate governance
People	Group's people, in Italy and abroad	Interviews with HR internal structures Survey aimed at listening to the opinions and needs of the Group’s people by providing questionnair es on an internal climate survey and questions relating to sustainability issues to over 72,000 Group’s people	Assessment of the perception of the Group’s image from the customers’ point of view, based on individual professional experiences Attention and care of employment levels in restructuring processes Recruitment of young people Assessment of the variables related to personnel enhancement (e.g. sense of pride and belonging, merit recognition, autonomy and financial recognition) Talent development and retention Assessment of the training and professional growth opportunities provided by the Intesa Sanpaolo Group Employee well-being (flexibility and work-life balance, relationship with colleagues and managers) Job satisfaction of Intesa Sanpaolo Group people ▪ Evaluation of the transparency and objectivity of the performance assessment systems Assessment and knowledge of the Policies applied by the Group (e.g. Diversity and Inclusion) Assessment of customer satisfaction on aspects such as the reliability, transparency and clarity of the Intesa Sanpaolo Group's procedures Intesa Sanpaolo Group ESG initiatives and products
People	Trade unions	Virtual focus group with trade union representatives	Employment protection and future, including in consideration of the service digitalisation trend Community support Financial inclusion Reporting of non-financial information Environmental issues and biodiversity Ecological transition, importance of the use of renewable energies and promotion of sustainable mobility for employees Youth unemployment levels in the South Gender pay gap
Suppliers	Dedicated internal structure	One-to-one interviews	Environmental topics, biodiversity and circular economy Job protection, health and safety, diversity & inclusion and wellbeing of people along the supply chain Management of relationships with suppliers

Last updated 29 July 2025 at 15:32:02