Green Bond Fact Sheet

Assicurazioni Generali

Date: 15/10/2019

Issue date: 01-10-2019 Maturity date: 01-10-2030 Tenor: 11Issuer Name

Assicurazioni Generali

Amount Issued

EUR750m/USD819m

Country of risk

Italy

CBI Database

Included

Issuer Type1

Financial corporate

Bond Type

Senior subordinatedGreen Bond Framework

Link to Framework

Second party opinion

Sustainalytics

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☒ Onshore wind
☒ Offshore wind
☒ Geothermal☒ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☒ Electricity grid

☒ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☒ Certified Buildings☐ HVAC systems☒ Energyperformance☐ Water performance☒ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☒ Transport☒ Electric vehicles☐ Low emissionvehicles☐ Bus rapid transit☒ Passenger trains☒ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☒ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Water & wastewater☒ Water distribution☒ Water treatment☒ Wastewatertreatment☒ Water storage☒ Storm water mgmt
☒ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☒ Adaptation & resilience☒ Waste management☒ Recycling☒ Waste prevention☒ Pollution control☐ Landfill, energy capture☐ Energy performance☒ Infrastructure☒ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

Annual reporting until full allocation on both the use of proceeds and impacts. Allocations
reporting will include various pieces of information, with a breakdown by project/asset
category and country/other relevant geographic area. Impacts will be reported on a best
efforts basis according to various sector-specific metrics detailed in the framework.

Company information

Generali is a global insurance and financial services company based in Italy. Founded in1833, it now operates in over 60 countries with approximately 71,000 employees and is
one of the world’s largest insurance providers by revenue.

Firsts, records andcertificationsFirst green bond from an Italian insurance provider. First green bond from an Italianfinancial corporate to finance more than two categories (with five!). First senior
subordinated green bond from Italy (of those where we have been able to confirm thebond type).

Proceeds description

To finance or refinance, in whole or in part, projects that advance the Group’s sustainability
strategy and contribute to the financial sector’s transition to a low-carbon economy. TheFramework defines eligibility criteria in six areas, with more details in the framework:
1. Green Buildings
2. Renewable Energy Electricity and Heat Production
3. Energy Efficiency
4. Clean Transportation
5. Sustainable Water Management
6. Recycling, re-use & waste management
This is an important deal given the importance of large, global financial corporates indriving funding for green projects and their ability to put sustainable finance on the global
agenda as well as increase its awareness among the general public. Generali has provided
quite a lot of detail around the specific sectors it is financing, which is positive.
We have seen limited issuance from insurance providers, so hopefully this will tempt otherlarge financial institutions to increase green finance and issue green bonds.
BBVA, BAML, Credit Agricole, Deutsche Bank, JPM, Morgan Stanley, SocGen

Climate Bonds view

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign