Own emissions reduction

Intesa Sanpaolo is strongly committed to reducing its emissions and adopting renewable energy sources. In line with the GHG Protocol Corporate Standard, the bank measures and reports its greenhouse gas emissions in three categories. Direct emissions, known as Scope 1, include those generated by company-owned sources, such as heating buildings and fuel used for the company fleet. Indirect emissions, or Scope 2, arise from the purchase of energy such as electricity, heating and cooling. Finally, Scope 3 covers all other indirect emissions associated with its own activities, such as paper consumption, waste and office equipment.

UN SDGs SUPPORTED

As an emissions reduction strategy, Intesa Sanpaolo has implemented its Own Emissions Plan as part of the 2022-2025 Business Plan, in line with the Science Based Target Initiative (SBTi), which reflects the company's commitment to limit the increase in global temperature to below 1.5°C, as established in the Paris Agreement.

To achieve its net-zero targets, Intesa Sanpaolo has identified three key actions: 

• the transition of electricity supply towards renewable energy
• the reduction of energy consumption and dependence on fossil fuels in buildings through upgrades such as heat pumps and solar panels
• the electrification of its vehicle fleet with hybrid and electric cars, supported by the installation of charging stations.

To achieve its net zero goals, one of the key actions identified by Intesa Sanpaolo is the transition of electricity supply towards renewable energy, including through self-production.

In 2024, the company selfgenerated 1,353 MWh of electricity from photovoltaic systems installed across Italy, Slovenia and Croatia. This saved around 404,000 thousands euro in energy costs and avoided 624 tonnes of CO2 emissions. Additionally, Intesa Sanpaolo has signed a 10-year Power Purchase Agreement (PPA), starting in October 2024, for the procurement of around 30 GWh from two new dedicated photovoltaic plants in Italy. CIB Bank also signed a five-year PPA agreement in July 2024 for the procurement of around 6.700 MWh (32% of total MWh consumption) of its electricity demand in Hungary from photovoltaic plants. 

The Group's environmental commitment is also reflected in its participation in international working groups and initiatives, particularly on climate change.

Footnote:

(1) The emissions reported refer to the Scope 1 and 2 Market-Based components. Scope 2 emissions are counted as zero for electricity purchased with Guarantee of Origin certificates from renewable sources.