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Sustainability is an integral part of our corporate culture, as its practice represents an investment for the present and the future and contributes to promoting corporate ethics. We aim to create sustainable value for all stakeholders and a distinctive way of being and banking in our actions and relationships. According to Creval's values, we are committed to respecting the mission, pursuing the principles of sustainable development, enhancing our talents, safeguarding the environment, and supporting our communities.​




Creval has decided to review the 2019 CNFS reference matrix in light of the change in internal governance, the reference scenario of the banking system and stakeholder involvement.

The 2019 materiality matrix for stakeholders arises, for the first time, from a structured engagement process developed in December with the aim of progressive improvement and consistent with the intention stated in the 2018 CNFS. The new matrix was also defined partly in continuity with the themes of the previous matrix and, for subsequent steps, handled by the Sustainability Team:

• discussion with all employees of the Corporate Identity, Communication, Marketing and Sustainability Area and with the “principal” Data Owners of the five reporting areas defined by law - environment, society, personnel, human rights and corruption - aimed at discussing, determining and validating the nature of the potential list of topics to report in order to reflect the significant economic, environmental and social impacts of the organisation;

• proposal of the list of possible material topics, defined in 21 points updated based on peer analysis, “current” issues that represent new challenges, and topics that have appeared more frequently in the press or on which European and international bodies are focusing, with particular reference to ESG (Economic, Social and Governance) risks;

• development of a questionnaire sent by email (“Your opinion matters - give us 2 minutes”) to all employees and a selected panel of external stakeholders, asking that they vote on the 5 topics considered most important on a priority scale from 1 to 5. The results of the questionnaire are shown in the new matrix as specified below:

   - the x-axis (horizontal) indicates the results received from the internal stakeholders consulted: · all employees (excluding the 100 listed below); · the “Top 100” - colleagues selected on the basis of key roles in the core business whose responses were “weighted” more heavily given their strategic role;

   - the y-axis (vertical) shows the findings from the external stakeholders consulted: over 20,000 customers; a representative sample of 50 suppliers, journalists, local associations, and university professors; reminder of the importance of the questionnaire on the “Primo Piano” company intranet; follow-up email to employees (“Your opinion matters - thank you for your contribution”).


The results of the process - first described in mid-December to three selected samples of employees during specific focus groups, also dedicated to defining and discussing the proposals for the new  Mission and the new Charter of Values - are highlighted in the matrix, which identifies ten material topics and indicates four dynamics:

• five new topics compared to the 2018 Creval materiality matrix: service to households and SMEs and protection of privacy (these two topics were partially included in the 2018 matrix, in the material topic “Customer respect and focus”), employment and workers’ rights, and respect for human rights and socio-environmental risks (which also include climate change issues);
• society (customers) and personnel as topic areas that received the most votes from internal stakeholders;
• personnel and corruption as topic areas that received the most votes from external stakeholders;
• the items in the categories “communities”, “local markets” and “suppliers” were not material - the first two are included in the Mission Statement of Fondazione Gruppo Credito Valtellinese, however, the third is present in this document through the updating of the Group Procurement Manual following the integration of environmental and human rights issues as a discriminating factor in selecting suppliers.

The project was presented to the Risk Committee and shared with the Board of Directors. In line with the Group Policy referred to in the Methodological Note, the matrix was approved by the Managing Director.