Generali GC&C Italy, Pirelli and Aon: agreement on an innovative insurance solution linked to United Nations sustainability goals

20 February 2024

  • Initiative focused on training, health and safety (SDGs 3 and 8)

Milan, 20th February 2024 – Generali Global Corporate & Commercial (GC&C) Italy, Pirelli and Aon have signed an agreement on an innovative insurance solution linked to the Sustainable Development Goals (SDGs) of the United Nations, taking up a further challenge in the ESG sphere, aimed at enhancing risk quality for stakeholders.

The insurance solution, developed with the support of Aon, by Pirelli and Generali, global sustainability leaders in their respective sectors, is based on Pirelli achieving specific targets aligned to SDGs 3 and 8 (“Good Health and Well Being” and “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all”). These targets relate to product and occupational health and safety matters.

The key performance indicators (KPIs) to be measured will primarily target employee training, maintenance of quality, health, safety and environmental certifications (ISO9001, International Automotive Task Force IATF 16949, ISO45001 and ISO14001). Additionally, specific accreditations of certain Pirelli R&D laboratories and tyre performance in terms of wet grip will be assessed. Among the KPIs included in the agreement is the affirmation of Pirelli’s position as one of the leading companies in the Dow Jones Sustainability Index.

With this project, Pirelli, Generali GC&C Italy and Aon, each guided by their materiality analyses, continue together in an innovative manner their journey in support of the UN Sustainable Development Goals (SDGs), which were established in 2015 with a target for 2030.

The initiative, part of a multi-year partnership between Pirelli, Generali GC&C Italy and Aon, currently covers the policies led by Generali concerning Italian Employers Liability, as well as the Recall and General Liability policies.

Franco Franzoso, Head of Generali GC&C Italy, said: “The insurance solution devised with Pirelli and Aon represents one of Generali’s initiatives aimed at incorporating ESG components into its policies. GC&C Italy has long been dedicated to integrating sustainability into its business operations and processes, developing solutions that positively impact the environmental and social sphere. In addition to our support for risk prevention and mitigation, we have set more challenging goals aligned with the UN SDGs, demonstrating our Company's commitment to fostering a healthy, resilient and sustainable society. The agreement with Pirelli is a significant milestone along GC&C Italy’s journey as a Responsible Insurer, contributing to the ongoing transition toward sustainability.”

Vincenzo De Cesaris, Pirelli Head of Finance, M&A and Risk Management, has stated: “The agreement with Generali GC&C Italy and Aon underscores Pirelli's ability to integrate a responsible approach into all its business activities, including Risk Management, and represents a pivotal step in the company's strategic sustainability journey. Aligned with the UN Sustainable Development Goals guidelines, this project strives for continuous improvement of employee and product-related health and safety initiatives”.

Marco Dubini Daccò, Executive Chairman of Aon S.p.A., concluded by saying:We are proud of collaborating with Pirelli and Generali GC&C Italy to develop this innovative solution. The agreement covers several insurance programs, mostly international ones, incorporating ambitious sustainability targets. Through this initiative, the three companies aim to make a meaningful contribution to safeguard individuals, while increasingly prioritizing social and environmental issues within their businesses”. 

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