The Group has been engaged in an ambitious “Environmental, Societal and Governance” (ESG) initiative for several years. At the company level, this policy translates into a discussion between the Managing Director and the management team before any new investment, to identify certain potential “ESG” risk areas and to verify the company’s sensitivity to the broader issue of sustainable development, with the constant concern for contributing to improving its economic performance in the medium/long-term. After promoting the subject among their senior management teams, companies choose the topics on which they wish to focus their efforts. Progress is monitored annually. Finally, an ESG report sets out the results of the assessment in the form of a mapping of performance of the equity interests.