In addition to complying with the legislative frameworks of all the countries where it operates, Intesa Sanpaolo has been committed since its establishment to identifying, mitigating and, where possible, preventing potential human rights abuses linked to its activities, as required under the latest UN Guiding Principles (Guiding principles on business and human rights - PDF 1.110 KB).
Intesa Sanpaolo has adopted a Code of Ethics, in which it explicitly states that it:
is committed to helping safeguard human rights in accordance with the principles of the Universal Declaration of 1948;
recognises the principles set out in the ILO (International Labour Organisation) fundamental conventions, particularly the right of association and collective bargaining, the ban on forced and child labour and gender equality at work;
contributes to the fight against corruption, supporting the OECD (Organisation for Economic Cooperation and Development) guidelines and the anti-corruption principles issued by the United Nations in 2003, including through a “zero tolerance” approach to any cases of corruption.
Our monitoring and management process for human rights
Our internal control system for the application of the Code of Ethics includes a section on human rights. In cases of abuses, stakeholders’ petitions are collected via a dedicated email address, and assessed by the departments implicated in the petition under the supervision of the Control Committee. The results of this process are disclosed to stakeholders via the Sustainability Report and presented annually to the Governance Bodies.
Based on the content of the UN Guiding Principles, which call on companies to assume their responsibilities for human rights by issuing a policy and related procedures with a specific commitment, a due-diligence process which identifies, prevents and mitigates their impact on human rights, and indemnity systems for any damages, Intesa Sanpaolo has embarked on a development process for a human rights policy.
The following phases of the process have been completed to date:
analysis of international standards and their implementation in the banking sector world-wide;
identification of key stakeholders impacted by the Bank’s operations: customers, suppliers, employees, local communities. The Environment, which Intesa Sanpaolo recognises as a legitimate stakeholder, is considered transversally in all areas of application;
monitoring of risk areas for each activity, operating structure and geographical region;
screening of company policies in Italy and abroad for the risk areas identified;
design of a matrix to identify the possible impacts of company activities on stakeholders for each principle set out in international conventions;
involvement of specialised NGOs to gather their suggestions on the fundamental requirements for a new policy.