Page 109 - Consolidated Non Financial Statement

Banca Ifis

| 2020 Consolidated Non-Financial Statement
The GRI Sustainability Reporting Standards also suggest considering a combination of internal and external factors
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when assessing the relevance of the different topics, and recommend several “materiality tests” to take into account .
The relevant factors or “tests” may include:

• the company's mission, strategy, main risks and opportunities;
• existing management approaches and systems;
• environmental, social and governance challenges considered by other companies in the same sector;
• concerns, requests, and expectations expressed by stakeholders concerning either the company or, more
broadly, the sector or businesses in general;
• existing or potential commitments in light of the adoption of voluntary standards or compliance with regulatory
constraints.
In line with these references, in 2019, in order to prioritise the potentially material topics and identify those to be
addressed in the 2020 Non-Financial Statement, different types of data were collected in order to assess two
dimensions of relevance (internal and external) for 2020 too. In 2019, the investigation methods used for the Non-
Financial Statement were refined in respect of the assessment dimension of external relevance. More specifically, in
2019:

• internal relevance was assessed through meetings with Top Management and the main reference persons
of the subsidiaries, in order to evaluate their strategic relevance to Banca Ifis's Business and their potential
impacts;

[GRI 102-42]
• to investigate the external relevance:
– a direct engagement initiative was run in regard to customers through the sharing of a survey on
potentially relevant topics
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– in-depth one-to-one interviews were held with opinion leaders to assess the expectations of the
“Community” stakeholder
– a “mediated assessment” was performed of the interests and expectations of stakeholders, who were
not heard directly, through meetings with the main corporate departments most involved in dialogue
with the main stakeholders (employees, investors, agents);
– a desk analysis was performed of the “Factor I” initiative (use of web listening as an innovative method)
with the aim of optimising the expectations of the “customers” stakeholder, in particular SMEs.
In accordance with Communication 2017/C 215/01 from the European Commission “Guidelines on non-financial
reporting”, which recommends considering several factors when identifying and assessing material topics, in addition to
the internal and external relevance assessment, the Group conducted the following desk analyses to complement the
direct assessments of Banca Ifis's managers («weighting»). Specifically, it analysed:

• policies, formalised procedures, organisational safeguards;
• main risks associated with non-financial topics;
• outcomes of listening and engagement initiatives already run;
• topics considered by the main competitors;
• emerging industry trends;
• public policies / regulatory changes concerning the industry.

The final step consisted in condensing all analyses and assessments carried out in order to determine the overall
relevance of the topics considered, and thus identify the most material ones to be included in the 2019 Non-Financial
Statement.

36 GRI 101: Foundation, Global Reporting Initiative, 2016

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