following an intense and complex year that has affect- ed our lives and the performance of world markets, it is a source of further pride to present to you Poste Italiane Group’s third Integrated Report.
The health emergency has pushed the conditions of survival of businesses to the limit, having a signifi- cant impact on a large part of the national economy and causing great social hardship. This situation re- quires companies to act quickly, to rethink not only products and services, but also the business models themselves, capable of connecting people, technol- ogy, organisation and all other forms of capital within a flexible and interactive system, in which interaction itself generates value.
Companies that place sustainability at the heart of their strategies will be able to emerge better and faster from the Covid-19 crisis. This is particularly true for those companies that have always sought a balance between growth and respect for social and environ- mental balances in the past. Those who have integrat- ed the creation of shared value with the territory into their business models will have a greater chance of recovery and success than those who have not.
Those who have integrated the creation of shared value with the territory into their business models will have a greater chance of recovery and success than those who have not.
In particular, innovation and digitisation will play a decisive role in the recovery of the economy and the social fab- ric. The pandemic has, in fact, accelerated the ongoing changes that characterise the so-called “fourth industrial revolution” with the rapid expansion of e-commerce, on- line education, digital health and remote work. The ef- fects of these changes – which will persist for a long time, even after the pandemic has ended – are bringing great benefits to companies. However, they also risk creating or worsening inequalities, especially in situations of digital divide, which today represents one of the greatest risks at global level – along with environmental ones, as also highlighted at this year’s World Economic Forum.
Sustainability and innovation become, therefore, the pil- lars from which to start the recovery. In fact, the Group’s new Strategic Plan “2024 Sustain & Innovate” has been based on these pillars.
Sustainability and innovation become, therefore, the pillars from which to start the recovery. In fact, the Group’s new Strategic Plan “2024 Sustain & Innovate” has been based on these pillars. In line with the previous one, whose objectives were successfully achieved, the new Plan aims to bring about responsible growth and drive Italy’s sustainability and social integrity through innovation and digitisation by setting financial, operational and sustainability objectives. Among the latter, particular importance is attached to the Group’s objectives in fight- ing climate change in the short, medium and long term, aiming at becoming carbon neutral by 2030, thus con- tributing in advance to European objectives in this area.
Compared to what happened in 2020, due to the Covid-19 pandemic, the country found itself facing com- pletely unexpected situations and in this particularly challenging scenario, with flexibility, responsibility and resilience, the Group renewed its support for the terri- tory and the community, guaranteeing continuity of services and making its logistics network available to the entire national fabric. Despite the health emergency, in 2020 Poste Italiane confirmed its leadership position in the financial, insurance and payment services sectors, as well as being the largest Italian company in the logis- tics sector.
Despite the health emergency, in 2020 Poste Italiane confirmed its leadership position in the financial, insurance and payment services sectors, as well as being the largest Italian company in the logistics sector.
Over the years, the Group has undertaken a path of constant growth that has made it stand out, above all, thanks to its ability to adapt its operating structures to the needs of the market, demonstrating, even in the most critical phases, that it can count on a widespread presence throughout the territory and transversal skills capable of reaching the entire Community and intercepting the needs of stakeholders. The 2020 results highlight this ability to know how to manage risks and seize opportunities, generating value not only for the Company, but for all stakeholders, through a structured business model and a clear strategy.
Since its establishment, the Group has played an important role in the life of the country, positively influencing its economy in terms of Gross Domestic Product, tax revenue, employment and household income, generating revenue of approximately €10.5 billion in 2020.
Since its establishment, the Group has played an important role in the life of the country, positively influencing its economy
The results achieved derive from the correct use of financial and non-financial capital enabling Poste Ital- iane to generate economic, environmental and social outcomes, thus contributing to the achievement of the United Nations Sustainable Development Goals (SDGs). The process of value creation goes through the adoption of a sustainable business model that allows the optimisation of all the above mentioned capital, in- tegrating in a synergistic way the Business Plan with ESG objectives. In this way, the Company is able to be competitive in a constantly changing economic and social context.
In this respect, by giving social and environmental factors the same importance as business criteria, we are given a holistic view of the environment in which we operate. The requests of the various stakeholders in the commu- nities where the Group operates allow for a more com- plete and better assessment of business risks, thanks to which companies are able to carry out more accurate planning and develop more far-reaching scenarios. For these reasons, the integration of extra-financial issues is more vital than ever to build strategies that enable the creation of economic value in the long term. Poste Itali- ane has for some time now been making every effort to enable the seamless integration of sustainability aspects into its business. This means adopting a process of value creation over time based on a business model, govern- ance and strategic plan integrated with a sustainability perspective, offering the market innovative products and services and creating positive impacts on the economy, environment and society.
Stakeholder engagement is of the utmost importance to Poste Italiane, and represents a useful way of outlining the path to growth and consolidating solid bonds of trust and transparency among all stakeholders. For these reasons, the Company organises the annual Multi-stakeholder Forum, an institutional event that exhibits the highest expression of dialogue and sharing of ideas. Through the involvement of all categories of stakeholders, the Group identifies the material issues to be included in the above-mentioned Sustainability Strategy, which is based on eight pillars: Integrity and transparency, People development, Diversity and inclusion, Support for local communities and the Country as a whole, Customer experience, Innovation, Decarbonisation of real estate facilities and logistics and Sustainable finance.
In addition, it is worth noting that the Group’s success is also based on continuous investment in technology and expertise. Poste Italiane has in fact demonstrated a remarkable ability to innovate, reorganising its processes and operating structures and developing a progressively wider range of products and services in line with consumer needs. A high degree of innova- tion is also essential, not only to intercept and respond adequately to the needs of stakeholders, but also to effectively implement a strategy that involves all levels of the organisation.
The numerous national and international awards are evidence of the solid path undertaken by Poste Italiane towards the achievement of the full integration of sustainability within its organisation
The numerous national and international awards are evidence of the solid path undertaken by Poste Italiane towards the achievement of the full integration of sustainability within its organisation. In continuity with 2019, in 2020, Poste Italiane confirmed its presence within the Dow Jones Sustainability World Index, the most prestigious sustainability index in which the com- panies considered best in the world in the sustainable management of their business are included, and within the more restrictive Europe segment. This was followed by other important confirmations in equally prestigious indices: Bloomberg Gender-Equality Index (GEI), Euronext Vigeo-Eiris World 120 and FTSE4GOOD. During the period, Poste Italiane was recognised by CDP (formerly Carbon Disclosure Project) as a leader in the fighting against climate change, appearing in the “Leadership” category with an A- rating. In addition, particular importance is attached to the Group’s positioning within the “Silver Class” in S&P Global’s Sustainability Yearbook 2021. It is worth highlighting that Poste Italiane is the only Italian company in the finance and insurance sec- tor to have been awarded this recognition.
Our Sustainability journey continues, aware that only through a constant and concrete commitment to achieving common goals with our stake- holders, we can meet the new challenges of sustainable development and create shared value for the country.
The results achieved allow us to look back with satis- faction at what has been achieved so far, and constitute a solid point of Poste Italiane’s reputation in the eyes of society and markets. Our Sustainability journey contin- ues, aware that only through a constant and concrete commitment to achieving common goals with our stake- holders, we can meet the new challenges of sustainable development and create shared value for the country.