We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: Unipol appears to have had some engagement advocating for regulation on sustainable finance, although its disclosure on engagement with policy appears to have decreased during 2020-2022.
Top-line Messaging on Sustainable Finance Policy: Unipol has advocated for reform to address short-termism in markets, and has stated support for action to keep global temperature rise to 1.5C, with CEO Andrea Orcel co-signing a CEO joint statement in 2022. Unipol also supported action to achieve net-zero by 2050 in a global investor statement to governments in 2021.
Position on Regulated Corporate ESG Disclosure: Unipol advocated for mandatory implementation of the TCFD in a 2021 joint investor statement. Unipol supported the EU's update to the non-binding guidelines for reporting climate-related information, with minor exceptions around the need for flexibility in feedback to the European Commission's Technical Expert Group (TEG) in 2019. In response to the Commission in 2021, it did support improved ESG corporate disclosures in the context of the Non-Financial Reporting Directive (NFRD). However, in its 2022 response to the European Financial Reporting Advisory Group (EFRAG) on the Corporate Sustainability Reporting Directive (CSRD), Unipol argued that there is no common methodology for double materiality such that it would be too onerous for the company to report and expressed concerns around value chain reporting.
Position on Taxonomies: Unipol stated broad support for the EU's taxonomy in its company magazine in 2020. Chairman Pierluigi Stefanini also offered broad support for the European Taxonomy in its letter featured in the 2021 Climate Change Report.
Position on the integration of ESG factors into risk management: In response to the Commission in 2022, Unipol did not support the proposal for the inclusion of macro-prudential assessments into Solvency II, where insurers would have to identify any material exposure to climate change risks and, where relevant, to assess the impact of long-term climate change scenarios on their business.
Lobbying Transparency: Unipol has disclosed advocacy activities on certain sustainable finance policies in its climate reporting, but has not clearly described outcomes it is seeking. Unipol has also disclosed some of its association memberships, but without any further details of its governance of indirect influence.