Second-Party Opinion Assicurazioni Generali Green Bond Evaluation Summary

Sustainalytics provides a second-party opinion on the Assicurazioni Generali Green Bond Framework, concluding that it is credible, impactful, and aligns with the Green Bond Principles 2018. The framework outlines the use of proceeds for six environmental categories, establishes a Green Bond Committee for project selection, and commits to annual reporting on allocation and impact.

• Sustainalytics concludes that the Assicurazioni Generali Green Bond Framework is credible, impactful, and aligns with the four core components of the Green Bond Principles 2018.
• The framework defines six eligible categories for the use of proceeds: green buildings, renewable energy electricity and heat production, energy efficiency, clean transportation, sustainable water management, and recycling, re-use & waste management.
• The framework includes specific exclusionary criteria that prohibit the use of green bond financing for activities related to weapons, tobacco, alcohol, gambling, nuclear energy, fossil fuel energy, and large hydro projects exceeding 20MW.
• Generali has established a Green Bond Committee, led by the Head of Group Debt and Treasury, to oversee the approval, review, and monitoring of eligible green assets identified by business units.
• The company intends to allocate net proceeds to eligible assets within one year of issuance, using existing internal accounting systems for tracking. Unallocated proceeds will be temporarily held in liquid instruments, such as cash deposits, money market instruments, and SRI investments.
• Generali commits to annual reporting on both allocation and impact. Allocation reports will detail amounts per category and the ratio of financing to refinancing, while impact reports will provide quantitative KPIs where feasible.
• Generali has set several quantitative sustainability targets, including increasing green sector investments by EUR 3.5 billion by 2020 and allocating EUR 4.5 billion for green and sustainable investments by the end of 2021.

APA

Climate Bonds Initiative (2019). Second-Party Opinion Assicurazioni Generali Green Bond Evaluation Summary. https://www.climatebonds.net/files/drupal-files/files/Assicurazioni%20Generali%20Green%20Bond%20Second%20Party%20Opinion.pdf

Chicago

Climate Bonds Initiative. Second-Party Opinion Assicurazioni Generali Green Bond Evaluation Summary. 2019. https://www.climatebonds.net/files/drupal-files/files/Assicurazioni%20Generali%20Green%20Bond%20Second%20Party%20Opinion.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Second-Party Opinion Assicurazioni Generali Green Bond Evaluation Summary |date=31 May 2019 |url=https://www.climatebonds.net/files/drupal-files/files/Assicurazioni%20Generali%20Green%20Bond%20Second%20Party%20Opinion.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019secondparty, author = {{Climate Bonds Initiative}}, title = {{Second-Party Opinion Assicurazioni Generali Green Bond Evaluation Summary}}, institution = {Climate Bonds Initiative}, year = {2019}, month = may, url = {https://www.climatebonds.net/files/drupal-files/files/Assicurazioni%20Generali%20Green%20Bond%20Second%20Party%20Opinion.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }