Social Report 2007 The 2007 Social Report has been translated from that published in Italy from Italian into English solely for the convenience of international readers. The original document in Italian prevails over any translation and will be made available to interested readers upon request to Intesa Sanpaolo S.p.A. Intesa Sanpaolo cares for the environment. This publication is printed on certified ecological paper. Social Report 2007 Intesa Sanpaolo S.p.A. Registered Office: Piazza S. Carlo 156, 10121 Turin Italy. Secondary Registered Office: Via Monte di Pietà 8, 20121 Milan Italy. Share Capital Euro 6,646,547,922.56. Turin Company Register and Fiscal Code No. 00799960158. Vat Code No. 10810700152. Member of the National Interbank Deposit Guarantee Fund and of the National Guarantee Fund, listed on the National Bank Register No. 5361 and Parent Company of the “Intesa Sanpaolo” Banking Group, listed on the National Banking Group Register. Boards, Management, Auditors Supervisory Board Management Board Chairman Giovanni Bazoli Chairman Enrico Salza Deputy Chairman Orazio Rossi Deputy Chairman Antoine Bernheim Rodolfo Zich Managing Director and Chief Executive Officer Corrado Passera Members Carlo Barel di Sant’Albano Rosalba Casiraghi Members Aureliano Benedetti3 Marco Ciabattoni1 Elio Catania Giovanni Costa Giuseppe Fontana Franco Dalla Sega Gianluigi Garrino Gianluca Ferrero Virgilio Marrone Angelo Ferro Emilio Ottolenghi Pietro Garibaldi Giovanni Perissinotto Giulio Lubatti Marcello Sala Giuseppe Mazzarello Eugenio Pavarani General Management Gianluca Ponzellini Gian Guido Sacchi Morsiani Deputy to the CEO Pietro Modiano Ferdinando Targetti General Manager Francesco Micheli Livio Torio Riccardo Varaldo2 Manager in charge of preparing the Company’s financial reports Bruno Picca Independent Auditors Reconta Ernst & Young S.p.A. 1 Appointed by the Shareholders’ Meeting on 30/4/2008 in lieu of Pio Bussolotto, who resigned as of 8/4/2008 2 Appointed by the Shareholders’ Meeting on 30/4/2008 in lieu of Fabrizio Gianni, who resigned as of 28/4/2008 3 Appointed by the Supervisory Board on 20/5/2008, in lieu of Giovanni Battista Limonta, who resigned as of 13/5/2008 website achieved and finished continued from 2006 under way yet to be achieved Contents 8 Letter to Stakeholders 42 Social Report 10 Introduction and Methodology 43 Stakeholder map 44 Clients 12 Identity and Governance 78 Employees 13 Mission and Values 100 Shareholders 14 History of the Company 108 Suppliers 16 Strategies 112 Relations with the Environment 17 The profile of the Intesa Sanpaolo Group 130 Relations with the Community 22 Governance 29 Our Social Responsibility 148 Stakeholder Involvement 33 Our Partnerships in Sustainability and Improvement Objectives 149 Dialogue with stakeholders 36 Economic Report 149 The methodology adopted 37 Economic and Financial 151 Key topics which emerged Performance in 2007 from the involvement program 37 Main economic and financial indicators 155 Improvement objectives 38 Calculation and Distribution of Value Added 160 Attachments 40 Determination 161 Compliance Statement of Global Value Added 163 G3 Application level 41 Allocation and Distribution 164 Indicator Table of Gross Global Value Added 171 Contacts 8 Social Report 2007 Letter to Stakeholders The Social Report for 2007, which the Intesa Sanpaolo Group – established on 1st January 2007 – is presenting to its Stakeholders, draws experience and continuity from the Social Reports that the Sanpaolo IMI Group and the Intesa Group have published in previous years. It also represents a signal for decisive innovation. The new Group came into being under the insignia of similar company social cultures: a deeply-felt set of values, shared with the management, shareholders and employees; a mission characterised by the search for quality service towards all stakeholders and which aims to promote, encourage and nurture sustainable development in the long term; the thrust towards internationalisation, combined with strong national roots as well as attention to individual local needs; meritocracy and solidarity and above all the intention to create value, not only economic and financial, but also social and environmental. This basis of ideals led in 2007 to the launch of a three year Business Plan, centering on the concept of sustainable growth and on the implementation of a Code of Ethics which is an articulate representation of our commitments towards our stakeholders and towards society in general. A Code of Ethics that gives direction and proof of the achievements presented in this Report and of the targets outlined for the years to come, in all fields of activity. The rigorous and increasingly wide sense of awareness of the values of social responsibility and their supporting projects – set out in the Business Plan – is perhaps the most significant news, in addition to the commitment and satisfaction. Even in a difficult year like 2007, our social and environmental responsibility is substantiated by quantifiable facts. Roots in local communities were strengthened through the original model of the Banca dei Territori, capable of responding efficiently and flexibly to the highly varied needs, without diminishing the advantages of products and services of a great international bank, which were in fact actually increased. Access to credit and financial tools was extended to socially disadvantaged categories or to those not adequately served by traditional banks by setting up Banca Prossima, a bank that is exclusively dedicated to social enterprises and the Third Sector. Solidarity and attention to culture were able to rely on the direct commitment of the Group and the single local banks, also in partnership with Foundations and associations. Protection of the environment is implemented by adopting a rigorous Environment Management System, which will progressively be extended to all the company premises. 9 Social Report 2007 Attention to the needs of our employees focused on integration, involvement, training and professional growth, in the awareness that people are the fundamental wealth of the company and its development engine. We are conscious that the activities of a large company have profound effects on society in general, on people and on the environment. For this reason we have reported on our activities with transparency, adopting the principles promoted by international entities, in particular Global Compact and the United Nations Environment Programme (UNEP-FI), and undertaking to integrate their guidelines into our company strategy. Our commitment to transparency also includes the intense dialogue that characterises our relations with employees, customers, shareholders and the community. The Social Report is the expression of these close relationships and of our commitment to provide answers by satisfying their legitimate expectations. A dynamic and innovative business strategy, capable of nurturing trust in a process of continuous improvement, can originate only from dialogue. 2008 was even more difficult than the previous year. This consideration however leads us to confirm and strengthen all the levers, identified in the Business Plan, for sustainable growth in our Group and in the countries – Italy foremost – where we are present or where we play a leading role. Of these levers, social and environmental responsibility is one of the most important and will be increasingly diffused throughout our business. In spite of the targets we have already achieved, we believe we still have a long road before us, leading us to improve relations constantly and to consolidate the relationship of trust with all our stakeholders. The trust we ask for derives from what we do every day to satisfy their expectations. Giovanni Bazoli Enrico Salza Corrado Passera 10 Social Report 2007 Introduction and Methodology This is the first Social Report of the Intesa San- ments (see table “G3 Application level” on paolo Group; it records the achievements of page 163) two separate groups – Intesa and Sanpaolo IMI – that merged into one very large single bank on January 1st 2007. Data evaluation In order to align data collection processes, Structure and contents as well as to extend them to the Group as a whole, quantitative information flows have The report is divided into stakeholder catego- been centralized at the Management Control ries and illustrates the achievements gained Offices. As a consequence of the merging of with respect to the objectives set in the 2006 the two groups, the data collected for this edi- report within the more general framework of tion of the Social Report do not come from one the 2007-2009 Business Plan. single source, and one objective is to make the The “Stakeholder involvement and improve- information flow management process more ment objectives” chapter reports on the pro- efficient. To this end, a Group manual is being cess of consultation and dialogue adopted compiled, taking into consideration observa- with the Group’s stakeholders regarding the tions and critical appraisal that have surfaced effectiveness of the objectives and how far during the data collection phase. The Manual, they have been achieved. to be completed in 2008, will establish the All the information has been gathered and management process involved and also define processed by the “CSR Referents” work group the organizational responsibilities of the con- appointed by the heads of the various divisions tributors and the technical aspects, including and companies in the Intesa Sanpaolo