Sustainability Report 2012 - Generali Versicherung AG

Initiatives for improving mobility in 2012CountryItalyType of initiativeProvision of a shuttle service connecting the offices with train stations or airports.Creation of a workforce management application, which employees can use tooffer/take lifts from colleagues who make the same journey.Opening of a specific email address and logo for the Mobility Manager. This is used toannounce initiatives and receive requests and reports of any malfunctions.Execution of a survey on home-work journeys on the Group’s workforce in Italy.By analysing the results, actions can be identified to create sustainable mobilitysolutions, customised to specific cities, offices and companies.Implementation of the Microsoft Lync system for 1,000 employees of the Italiancompanies. This system can be used for videoconferences and video calls fromemployees’ workstations, with a savings of over 30,000 trips per year.AustriaFranceGermanyAll journeys by air must be authorised by the Top Management, and all journeys bytrain are environmentally friendly because most of the energy used by the Austrianrailway network comes from hydroelectric power.Use of an electric car for transporting packages and post between the three buildingslocated in Saint-Denis. A hybrid car has also been purchased for a member of thecompany’s Top Management.Conclusion of an agreement with Deutsche Bahn (the German national railwaycompany) whereby all journeys made by train by employees on duty are carbonneutral, meaning the emissions are offset through eco-sustainable initiatives.CLIMATE CHANGE RISKSAND OPPORTUNITIESThe Generali Group views climate change as a source of risk,on one hand, and opportunity, on the other, for the runningand development of its business. From this viewpoint, itanalyses the possible consequences of climate change inthe short, medium and long term, to identify the risks forwhich suitable mitigation measures must be adopted, andthe opportunities to develop business and improve efficiency.The Group constantly monitors the evolution of climatechange risks, also using special stochastic models forsimulating natural phenomena to verify the adequacy of boththe mitigation products and the risk management tools. TheGroup is also committed to investing in research and studieson these issues. Specifically, for four years, Generali Francehas funded a university teaching position for the study ofclimate change.Given the recent evolution of the climate and that forecastfor the future, the following three categories of risks linkedto climate change have been identified:1. Risks relating to changes in climate factors - Themain area of increased risk which can already be seen isthe greater frequency and scope of catastrophic eventscaused by storms and flooding, which has increased thecost of claims and reinsurance, both in the life and nonlifelines of business, and a resulting significant increasein premiums, with possible future repercussions in termsof difficulty for customers to access insurance, as wellas insurability. The increase in average temperatures hasalso been identified as a possible cause of the increasein catastrophic events in relation to the risks of death/morbidity, with consequences in terms of the cost ofclaims, premiums and insurability, in the life and healthlines of business.2. Risks linked to changes in regulations and/orstandards - Over the long-term, this entire area isconsidered to be a source of potential strategic risk,which may involve both the business model and revenueflows. Over the next few years, it can be assumed thatchanges in local and national laws concerning energyefficiency in buildings may result in part of the Group’sproperty assets becoming obsolete, with consequencesin terms of a reduction in the demand for leases by thetop-end market segment (which is the main target of theCompany) and/or outlays related to the introduction of apossible carbon tax. Similarly, new local or national lawsrelating to greenhouse gas emissions of vehicles couldresult in a decrease in the operating fleet and, as a result,in the demand for car insurance. Lastly, the increase inthe frequency of catastrophe claims due to natural eventscould lead to the introduction of certain types of mandatoryinsurance, with an increase in the Company’s exposure, tobe assessed primarily in terms of concentration of risk, aswell as frequency.3. Other risks linked to climate changes - In thenext few years, growing awareness of issues relatedto climate change is expected to influence consumerbehaviour, resulting in an increase in demand for ecoefficientbuildings and eco-sustainable transportation.Lastly, reputation risk is identified in relation to delays bythe Group in adopting measures to limit the effects ofclimate change or to effectively respond to widespreadconcerns of the public.ENVIRONMENT AND CLIMATE CHANGE | 135