Strategy and Net-Zero
The Intesa Sanpaolo Group is aware of the challenge of climate change and has recently confirmed, in its 2022-2025 Business Plan, its commitment to helping achieve global climate targets, reducing its environmental impact and promoting the transition to a low-carbon economy.
UN SDGs SUPPORTED
2022-2025 Target and 2022 result
by 2025 (1)
The Group’s environmental commitment is also reflected in its participation in international working groups and international initiatives, in particular on climate change
Having decided to pursue the 2050 “Net-Zero” emissions target - of both own emissions and those of its loan and investment portfolios, asset management and insurance business - the Group has joined all UNEP FI Net Zero initiatives: the Net-Zero Banking Alliance (NZBA), the Net Zero Asset Managers Initiative (NZAMI), the Net Zero Asset Owner Initiative (NZAOA) and the Net Zero Insurance Alliance (NZIA).
- Own emissions: carbon neutrality and 100% electricity purchased from renewable sources by 2030.
- Financed emissions: intermediate reduction targets for 2030, aligned with Net-Zero, published in February 2022 for the Oil&Gas, Power Generation, Automotive and coal mining sectors, (> 60% of the financed emissions of the non-financial companies’ portfolio in the sectors identified by the NZBA). The exposure target is zero by 2025 for the coal mining sector and zero by 2030 for the non-conventional Oil&Gas sector, in line with the phase-outs included in the respective 2021 policies.
- Wealth management emissions: in October 2022, intermediate targets were published for Intesa Sanpaolo's wealth management companies that are members of NZAMI and NZAOA.
Target Fideuram - Intesa Sanpaolo Private Banking
Target Intesa Sanpaolo Vita
In 2022 Intesa Sanpaolo committed to obtaining validation of emission reduction targets from the “Science Based Target initiative” (SBTi), a partnership between the CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the WWF. SBTi validates the targets as “science based” if they are in line with the latest scientific evidence to meet the goals of the Paris Agreement.
Protection of natural capital
In the 2022-2025 Business Plan, Intesa Sanpaolo has committed to a major reforestation project, planting over 100 million trees both directly and through dedicated fundings for customers, and to the development of a biodiversity policy.
(1) For branches and buildings in Italy. Target already achieved in 2021.
Last updated 30 May 2023