Sustainability
We strongly believe that in order to create value for our stakeholders it is essential to balance economic growth with the pursuit of social development and respect for the environment.
Companies that carefully manage ESG (environmental, social and governance) risks and opportunities today should be better situated in the future as diminishing resources, changing consumer demands and increased regulation are expected to pose greater challenges and opportunities.
Including sustainability issues in our ownership policies and practices ensures a complete and forward-looking view of the real value of our firm and portfolio companies and enables the development of a sustainable long-term strategy for the progress.
Since 2021 Progressio is a Certified B Corporation.
In 2022 Progressio has become a “benefit company” (pursuant to Law no. 208/2015, art. 1 paragraphs 376-384) and signed on the United Nations-supported Principles for Responsible Investment (PRI).
REGULATION (EU) 2019/2088 ("SFDR REGULATION")
Following the adoption of the 2015 Paris Agreement on climate change and the United Nations 2030 Agenda for Sustainable Development, the EU Commission has expressed its intention to increase transparency in the field of sustainability risks and sustainable investment opportunities with the aim to:
– reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth;
– assess and manage relevant financial risks stemming from climate change, resource depletion, environmental degradation and social issues; and
– foster transparency and long-termism in financial and economic activity.
As a consequence, pursuant to Regulation (EU) 2019/2088 (“Disclosure Regulation”), financial market participants and financial advisers are required to disclose specific information on their approaches to the integration of sustainability risks and the consideration of adverse sustainability impacts.
TRANSPARENCY OF SUSTAINABILITY RISK POLICIES:
TRANSPARENCY OF REMUNERATION POLICIES WITH REGARD TO THE INTEGRATION OF SUSTAINABILITY RISKS:
SUSTAINABILITY-RELATED DISCLOSURES:
RESPONSIBLE INVESTMENT POLICY
With our Responsible Investment Policy, since 2018 we have formally committed to pursuing an investment strategy that aims at achieving financial returns while ensuring the utmost respect for the rights and dignity of the people and for the environment in which we live.
In particular, we believe that ESG factors can influence investment risks and returns and therefore we have decided to incorporate that criteria into our investment analyses and decision-making processes, throughout all the main phases of the investment cycle.
INTERNAL CODE OF CONDUCT
Progressio, with the adoption of the Internal Code of Conduct (which refers to the code approved by the Board of Directors of AIFI – Italian Association of Private Equity and Venture Capital), formally undertakes to carry out its business on the basis of honesty principles, transparency and correctness, independence, objectivity, legality, professionalism, confidentiality.
The rules of the Internal Code of Conduct are aimed at ensuring that Progressio operates in the interest of the investors of the managed funds, safeguarding their rights.
B CORPORATION AND BENEFIT CORPORATION
Since 2021 Progressio is a Certified B Corporation. Certified B Corporations are businesses that meet high standards of social and environmental impact, public transparency, and legal accountability to balance profit and purpose. B Corp are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment with the aim to redefine success in business and build a more inclusive and sustainable economy.
In 2022 Progressio has become a “benefit company”, pursuant to Law no. 208/2015, art. 1 paragraphs 376-384. As benefit company, Progressio – in carrying out the activities described in its bylaws – intends to pursue also aims of common benefit, operating in a responsible, sustainable and transparent manner towards people, communities, territory, environment, and other stakeholders.