Material impacts, risks and opportunities

Material impacts, risks and opportunities and their interaction with the strategy and business model

The Poste Italiane Group, in consideration of the unique characteristics of its business and on the basis of the operating context and the main players identified along the value chain, has identified the impacts, risks and opportunities relevant to it, by conducting the materiality analysis process, which is further detailed in the section ‘Managing impacts, risks and opportunities’.
The following table represents the relevant IROs identified through the materiality assessment conducted, indicating their respective time horizons, their location in the value chain and their connection to the business model with reference to the Group’s Business Units.

Outside-In Perspective (From most relevant to least relevant)

Relevance	Topic	Scope
Very Significant	Innovation and digitization of products, services, and processes	Society
Very Significant	Quality and Customer Experience	Society
Very Significant	Employee training and development	Personnel
Very Significant	Financial inclusion	Society
Very Significant	Employee welfare and well-being	Personnel
Very Significant	Working with transparency and integrity	Corruption
Very Significant	Environmental impacts of buildings	Environment
Very Significant	Cybersecurity, Information Security, and Privacy	Society
Very Significant	Health and safety at work	Personnel
Significant	Supporting socio-economic development of the territory	Society
Significant	Dialogue and transparency with institutions	Society
Significant	Protection of human rights in the company	Human Rights
Significant	Environmental impacts of logistics	Environment
Significant	Legality and ESG integration in the procurement process	Society
Significant	Relations with social partners	Personnel
Significant	Equal opportunities in career paths	Personnel
Significant	ESG integration in investment policies	Cross-cutting
Significant	ESG integration in insurance policies	Cross-cutting

Inside-Out Perspective (From most relevant to least relevant)

Relevance	Topic	Scope
Very Significant	Innovation and digitization of products, services, and processes	Society
Very Significant	Health and safety at work	Personnel
Very Significant	Supporting socio-economic development of the territory	Society
Very Significant	Equal opportunities in career paths	Personnel
Very Significant	Protection of human rights in the company	Human Rights
Very Significant	Working with transparency and integrity	Corruption
Very Significant	Quality and Customer Experience	Society
Very Significant	Relations with social partners	Personnel
Very Significant	Legality and ESG integration in the procurement process	Society
Very Significant	Cybersecurity, Information Security, and Privacy	Society
Very Significant	Environmental impacts of logistics	Environment
Very Significant	Environmental impacts of buildings	Environment
Very Significant	Employee training and development	Personnel
Very Significant	Financial inclusion	Society
Significant	ESG integration in investment policies	Cross-cutting
Significant	Employee welfare and well-being	Personnel
Significant	Dialogue and transparency with institutions	Society
Significant	ESG integration in insurance policies	Cross-cutting

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Adaptation to climate change	I	Global average temperature increase (-) (E)	Medium-term Long-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Deterioration of quality delivered Inadequate quality delivered and failure to meet regulatory and contractual standards resulting in fines and penalties	Short-term Medium-term Long-term	Upstream Own operations Downstream	-	Mail, Parcels & Distribution
	R	Restrictions on Poste Italiane’s business operations due to extreme weather conditions related to climate change	Medium-term Long-term	Upstream Own operations Downstream	-	Mail, Parcels & Distribution
Mitigation of climate change	I	Production of greenhouse gas emissions throughout the value chain (-) (E)	Short-term Medium-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Underestimating sustainable development and not actively pursuing decarbonisation can lead to serious consequences in terms of corporate reputation, with negative impacts on stakeholder trust, market opportunities and overall company value	Long-term	Upstream Own operations	-	Mail, Parcels & Distribution
	O	Reduction of emissions related to the use of the vehicles making up the corporate fleet by virtue of a review of business models resulting from the transformation of mobility	Long-term	Own operations	-	Mail, Parcels & Distribution
Energy	I	Energy consumption from renewable sources throughout the value chain (+) (E)	Short-term Medium-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Non-/partial achievement of growth targets in the Energy market Non-achievement of business objectives related to the energy sector, due to strong market competition and regulatory issues	Short-term Medium-term Long-term	Upstream Own operations	-	Postepay Services
	R	Rising cost of raw materials and supply difficulties (e.g. oil, gas and energy) resulting from the current geopolitical context	Short-term Medium-term	Upstream	-	Cross-sectional
	O	Decrease in the Group’s total energy consumption from non-renewable sources (e.g. fossil fuels) due to a review of business models resulting from the transformation of mobility	Long-term	Own operations	-	Mail, Parcels & Distribution

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Air pollution	I	Production of air pollutants throughout the value chain (-) (E)	Short-term Medium-term	Own operations Downstream	People Environment	Mail, Parcels & Distribution
Air pollution	R	Restrictions on Poste Italiane’s operations, with particular reference to deliveries, due to traffic restrictions (e.g. restrictions on polluting vehicles)	Long-term	Own operations Downstream	-	Mail, Parcels & Distribution

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Inflows of resources, including use of resources	I	Use of recyclable/biodegradable or recycled/regenerated materials in carrying out the Group’s activities (+) (E)	Short-term Medium-term	Upstream Own operations	Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy
Waste	I	Waste production resulting from the Group’s activities (-) (E)	Short-term Medium-term	Own operations	Environment	Mail, Parcels & Distribution
	I	Waste production from the supply chain (-) (E)	Short-term Medium-term	Upstream	Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy
	I	Waste production resulting from the use of the Group’s products and services by customers (-) (E)	Short-term Medium-term	Downstream	Environment	Mail, Parcels & Distribution; Payments and Mobile
	R	Incorrect/non-compliant waste management	Short-term	Upstream Own operations	-	Cross-sectional


ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Working conditions	I	Lack of protection of rights with respect to employment contract and social protection (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Lack of protection of rights with respect to working time (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Lack of protection of rights with respect to freedom of association and collective bargaining (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Work-life balance (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Accidents, injuries and occupational illnesses (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Trade Union Conflicts: Tensions and industrial unrest related to the new delivery model and transformation actions	Short-term Medium-term	Own operations	-	Cross-sectional
	R	Accidents/Injuries to workers or contractors at the workplace Accidents to workers or collaborators at the workplace resulting from the execution of operational activities (e.g. acceptance, transport and sorting activities; postal product delivery activities with particular reference to the use of company motor vehicles and vehicles, counter activities)	Short-term Medium-term	Own operations	-	Cross-sectional
	R	Disputes and litigation: Disputes and litigation, judicial and extrajudicial, with suppliers, employees, customers or third parties that may involve compensation and/or payment of penalties.	Short-term Medium-term	Upstream Own operations Downstream	-	Cross-sectional
	R	DDelayed re-engineering of operations and delivery processes Difficulties/delays in the implementation and development of the operating model due to various constraints (personnel management policies, operations and delivery processes, technological innovation, labour relations) resulting in failure to achieve plan targets	Short-term Medium-term	Upstream Own operations Downstream	-	Mail, Parcels & Distribution
	O	and well-being plans (e.g. promotion of active parenting), taking advantage of changes in demographic and social composition, in order to increase labour market attractiveness	Medium-term Long-term	Own operations	-	Cross-sectional
Equal treatment and opportunities for all	I	Gender pay gap (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Employee attraction, development and training (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Social and labour inclusion of people with disabilities (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Incidents of violence and harassment in the workplace (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Plurality of work context (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Operational difficulties related to absenteeism rates and high rate of inability among employees Operational difficulties related to absenteeism rates and high rate of inability among employees (temporary or permanent unfitness for work, employment limitations), with potential impact on planned initiatives to increase productivity	Short-term Medium-term	Own operations	-	Cross-sectional
	O	Increased ability to attract talent to the market through equal treatment, opportunities, the development of employment protection practices and plurality of the work environment	Medium-term Long-term	Own operations	-	Cross-sectional
Other work-related rights	I	Incidents of violation of workers’ privacy (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Other work-related rights	R	Non-compliance with privacy regulations Processing of personal data in violation of applicable regulations	Short-term Medium-term	Upstream Own operations	-	Cross-sectional

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Working conditions	I	Lack of protection of rights with respect to employment contracts and social protection with respect to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Lack of protection of rights with respect to working time for workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Occupational accidents, injuries and diseases at work with reference to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Inefficiencies related to supplier relations within the procurement process: Possible inefficiencies in the definition of relations with external suppliers, in operational activities, as well as in the Group’s dependence on external suppliers, which may jeopardise the success of procurement activities	Short-term Medium- term	Upstream Own operations Downstream	-	Cross-sectional
	R	Accidents/Injuries to workers or collaborators at the workplace Accidents to workers or collaborators at the workplace resulting from the execution of operational activities (e.g. acceptance, transport and sorting activities; postal product delivery activities with particular reference to the use of company motor vehicles and vehicles, counter activities)	Short-term Medium- term	Upstream Downstream	-	Cross-sectional
Equal treatment and opportunities for all	I	Gender pay gap with reference to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Social and labour inclusion of people with disabilities with reference to workers in the value chain (+) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Incidents of violence and harassment in the workplace with reference to workers in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Plurality of the work context with reference to workers in the value chain (+) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Other work-related rights	I	Incidents of breaches of workers’ privacy in the value chain (-) (P)	Medium- term	Upstream Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Non-compliance with privacy regulations Processing of personal data in violation of applicable regulations	Short-term Medium- term	Upstream Own operations Downstream	-	Cross-sectional
	R	Deterioration of reputation and non-compliance with human rights standards resulting from relations with suppliers who exploit child/forced labour in non-EU countries	Short-term Medium- term Long-term	Upstream Downstream	-	Mail, Parcels & Distribution

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Economic, social and cultural rights of communities	I	Presence of services and infrastructure in outlying areas of the territory (+) (E)	Short-term Medium-term	Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Digital transformation of the Country (+) (P)	Medium-term	Upstream Own operations Downstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Social exclusion of people experiencing economic hardship (-) (P)	Medium-term	Downstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Creating shared economic and social value for the community (+) (E)	Short-term Medium-term	Upstream Own operations Downstream	People Ambiente	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	O	Possibility of accessing funds and contributions for the realisation of initiatives benefiting outlying urban areas, also taking advantage of the widespread presence in Italy that allows for visibility of the products and services offered throughout the Country	Long-term	Own operations	-	Cross-sectional

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Business Unit
Information-related impacts for consumers and/or end users	I	Incidents of violation of consumers’ privacy (-) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Cyber attacks and data theft (-) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Computer system malfunctions and/ or security failures that may lead to personal data breaches, loss or compromise of information, operational blockages or slowdowns, customer disruptions	Short-term Medium- term	Own operations - Cross-sectional	Cross-sectional
	R	Non-compliance with privacy regulations Processing of personal data in violation of applicable regulations	Short-term Medium- term	Own operations - Cross-sectional	Cross-sectional
	R	Inadequate use of big data and artificial intelligence and an increase in privacy violations	Long-term	Own operations - Cross-sectional	Cross-sectional
	R	Risks related to the regulatory/ legislative framework for competition and consumer protection Tightening of regulations for competition and consumer protection, as well as unfavourable outcomes of investigations conducted by the competent authorities	Short-term Medium- term	Own operations Downstream - Cross-sectional	Cross-sectional
Social inclusion of consumers and/or end users	I	Lack of access to products and services for the most disadvantaged user groups (-) (P)	Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Digitalisation of products and services and development of innovative solutions (+) (E)	Short-term Medium- term	Own operations Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Customer satisfaction (+) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Economic damage to users who are uninformed about the products and services offered (-) (E)	Short-term Medium- term	Downstream People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Failure to meet customer needs Provision of services and/or placement of products (also in integrated mode) that do not meet the real needs of business and retail customers in the postal/ logistics, banking, insurance, payments, mobile and energy fields. Limited satisfaction of business and consumer customer needs, for different products and services, throughout all stages of the customer life cycle	Short-term Medium- term Long-term	Own operations Downstream - Cross-sectional	Cross-sectional
	R	Risks related to the regulatory/legislative framework for competition and consumer protection Tightening of regulations for competition and consumer protection, as well as unfavourable outcomes of investigations conducted by the competent authorities	Short-term Medium- term	Own operations Downstream - Cross-sectional	Cross-sectional
	O	Opportunity to ensure accessibility to health protection even for the weaker sections of the population by contributing to sustainable development	Long-term	Own operations - Insurance Services Mail, Parcels & Distribution	Cross-sectional
Social inclusion of consumers and/or end users	O	Greater ability than competitors to understand customer needs, also with reference to targets in the “digital divide”	Long-term	Own operations Downstream -	Postepay Services Financial Services Insurance Services
Social inclusion of consumers and/or end users	O	Acceleration of the transition to digitisation, with a consequent increase in demand for the digital products offered by Poste Italiane	Medium- term	Own operations Downstream - Cross-sectional	Cross-sectional

ESRS Sub-topic	IRO	Description	Time horizon	Value chain	Impacts	Business Unit
Corporate culture	I	Incidents of violation of the Code of Ethics by Group employees (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	I	Incidents of violations of the Code of Ethics by parties in the supply chain (-) (P)	Medium-term	Upstream	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Growing regulation in the field of artificial intelligence and consequent increase in compliance pressure	Medium-term Long-term	Own operations	-	Transversal
Protection of whistleblowers	I	Incidents of violation of the whistleblowing system (-) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Protection of whistleblowers	R	Failure to comply with whistleblowing legislation	Short-term	Own operations	-	Transversal
Policy engagement and lobbying	I	Anti-competitive practices and antitrust violations (-) (P)	Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Management of relationships with suppliers including payment practices	I	Raising supplier awareness of ESG issues (+) (E)	Short-term Medium-term	Upstream	People Environment	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
	R	Inefficiencies related to supplier relations within the procurement process: Possible inefficiencies in the definition of relations with external suppliers, in operational activities, as well as in the Group’s dependence on external suppliers, which may jeopardise the success of procurement activities	Short-term Medium-term	Upstream Own operations Downstream	-	Transversal
Active and passive corruption	I	Workers’ awareness of active and passive corruption (+) (E)	Short-term Medium-term	Own operations	People	Mail, Parcels & Distribution; Payments and Mobile; Energy; Financial Services; Insurance Services
Active and passive corruption	R	Non-compliance/adaptation with regulatory provisions on corruption	Short-term	Own operations	-	Transversal

IRO	Description	Time horizon	Value chain	Impacts	Business Unit
I	Sustainable growth of the country through its investing and/or insurance activities (+) (E)	Short-term Medium-term	Own operations Downstream	People Environment	Financial Services; Insurance Services
I	Responsible investment and insurance practices (+) (E)	Short-term Medium-term Long-term	Own operations Downstream	People Environment	Financial Services; Insurance Services
O	Increased market attractiveness resulting from an increase in investment operations/practices that take ESG profiles into account, as well as the offering of sustainable insurance products/solutions	Short-term Medium-term	Own operations Downstream	-	Financial Services; Insurance Services