Ethical business culture

WHISTLEBLOWING

Starting point

  • Presence of a formal Code of Ethics.
  • Formal adherence to the UN principles of Fair Business and Anti-Corruption (UN Global Compact).

Activities

  • Development of a general anti-corruption policy.
  • Development of a whistleblowing system.
  • Internal communications and training plan.
  • Presentation to investors.

ETHICAL FINANCE

Starting point

  • Restrictive policy on the funding of arms.
  • Responsible investment policy implemented by the Supplementary Pension Funds of MPS Employees.

Activitie

  • Development of a policy on transactions in controversial activities (arms, gambling, tobacco, pornography, energy from coal, nuclear power, intensive animal farming, GMOs in agriculture).
  • Assessment of feasibility of adhering to UN Principles for Responsible Investment.

 

Welfare

Employee welfare

Starting point

  • Traditional and wide-ranging employee welfare scheme (around 75 thousand beneficiaries in total).
  • Low levels of internal awareness and external knowledge of the numerous benefits within the employee welfare scheme.

Activities

  • Definition of a joint supplementary labour contact with a strong focus on employee welfare.
  • Ongoing discussions with the trade unions through the establishment of a Welfare Committee.
  • Integration of employee welfare within a flexible benefits plan.
  • Internal communications, employee engagement and training Plan.
  • Enhancement of employee welfare in employer branding activities.


A core, community Bank

Local Project (pilot project)

Starting point

  • Poor perception of the Bank in different local contexts.
  • Synergies between commercial/institutional relations and key local stakeholders not always effective.
  • Ample margin for knowledge of social needs.

Activities

  • Preparation of local sustainability reports in certain target regions.
  • Testing of different forms of listening and engagement of institutions, trade associations and other representatives from the local economy/community.
  • Identification of shared solutions for the local community and implementation plans.


Social innovation

Starting point

  • Micro-credit activities with a reduced scope focused on the social target.
  • Issuance of local “Zero Km” Bonds to finance local SMEs.
  • Limited offer of “financial inclusion” products and services.
  • Social impact margins in the management of contributions to non-profit organisation

Plan of activities

  • Micro-credit activities for start-ups and small businesses and provision of ancillary services (training and consultancy).
  • Dedicated funding for start-ups, female entrepreneurs and to support investments aimed at reshoring jobs and production to Italy.
  • Collaboration with business incubators/accelerators to support business ideas aimed at delivering products and services with added social value (pilot project with AXA and Impact Hub Milano to promote social entrepreneurship in the South of Italy).
  • Partnerships with crowdfunding participants for the social sector.


Corporate sustainability culture

Lending and sustainability

Starting point

  • The qualitative aspects of business management partially considered in assessing creditworthiness and in commercial interaction with corporate customers.

Activitie

  • Development of a research project with the University of Siena aimed at:
    1) verifying the current level of sustainability practices in the business strategies of Tuscan SMEs as well as the values perceived for business;
    2) analysing any correlations between the implementation of sustainability strategies and the credit ratings of business customers.
  • Collaborating with the University of Siena on the training and development of corporate sustainability practices.
  • Undertaking activities aimed at integrating corporate sustainability factors within credit processes and advisory services for corporate customers.


Providing guidance to young people on finance and the world of work

Economic-financial education projects in schools

Starting point

  • Long-term experience in the ABI-Patti Chiari project.
  • BancAscuola Project – in collaboration with the consumer associations since 2011 to educate high school students on the basic concepts, functions and risks of the bank-consumer relationship.

Activities

  • Further development of the BancAscuola Project and innovation in the education format.
  • Young Factor Project in partnership with the Osservatorio Permanente Giovani Editori (Permanent Observatory of Young Publishers). The goal is to educate high school students on the critical analysis of social, economic and financial issues that are most relevant for their prospects in the job market.

At work

Starting point

  • Assignment of a number of Traineeship and Higher Education/Research contracts promoted in collaboration with the University of Siena.•Participation in “career day”.
  • Collaboration with Consorzio Elis – Scuola della Buona Impresa (School of Good Business) to address the issues of business values and culture with University students.

Activities

  • Partnership with HR Community Academy for a series of job market orientation meetings for young people aged between 16 and 30.
  • Structured and ongoing collaboration with the University of Siena, sharing skills by providing students with internships or traineeships within the Bank and involving Bank employees and collaborators in co-teaching the degree courses.
  • Collaboration with the high schools on school-work combination programmes.