Climate change
Strategy for combacting climate change
The Intesa Sanpaolo Group is aware of the challenge of climate change and has confirmed, with the 2022-2025 Business Plan, its commitment to contribute to the achievement of global climate objectives by reducing its environmental impact and promoting the transition towards a low carbon economy.
Environmental protection and attention to climate change are key dimensions of the Group's responsibility and the importance of this commitment is first of all reiterated in the Code of Ethics and expressed in specific policies: the Rules on environmental and energy policy, the Guidelines for the Management of environmental, social and governance (ESG) risks, the Rules for the coal sector and the Rules for the unconventional oil & gas sector.
UN SDGs SUPPORTED
The Group’s environmental commitment is also reflected in its participation in international working groups and international initiatives, in particular on climate change
Net-Zero Commitment
With the choice to pursue the Net-Zero objective by 2050 both for its own emissions and for those of the loan and investment portfolios, asset management and insurance activities, the Group has joined all the Net-Zero initiatives of UNEP FI: Net-Zero Banking Alliance (NZBA), Net-Zero Asset Managers Initiative (NZAMI), Net-Zero Asset Owner Initiative (NZAOA) and Net-Zero Insurance Alliance (NZIA).
- Carbon neutrality: for its emissions by 2030;
- Net-zero objective by 2050 for all main business lines: credit, investments and insurance sector;
- Intermediate targets by 2030 for financed emissions of Oil&Gas, Power Generation, Automotive and Coal Mining1 and, from 2023, Iron&Steel and Commercial Real Estate (CRE). The sectors covered by target settings account for more than 66% of the financed issues of the portfolio of non-financial companies in the sectors indicated by the NZBA;
- The exposure target is zero by 2025 for the coal mining sector and by 2030 for the unconventional Oil & Gas sector, in line with the exclusion policy (phase-out) in the respective 2021 policies
- Target and policy
- Wealth management emissions: the Net-Zero commitment has also been consolidated through the intermediate targets - published in October 2022 by the Intesa Sanpaolo companies active in wealth management adhering to the NZAMI and the NZAOA
Target Eurizon
Target Fideuram - Intesa Sanpaolo Private Banking
Target Intesa Sanpaolo Vita
Protection of natural capital
With the 2022-2025 Business Plan Intesa Sanpaolo has committed to a major intervention to safeguard and enhance forestry natural capital to support its own path and that of its client companies of reducing CO2 emissions and managing residual emissions through the planting and preservation of 100 million trees globally.
The Think Forestry Project was therefore launched in 2023 providing access to a network of national and international forestry initiatives. As a first step, an extensive planting program was launched in collaboration with ReteClima to contribute to the reforestation of the Italian territory, with an initial investment of 100 euros which will allow thousands of trees to be planted. Companies can access Think Forestry on dedicated terms, thanks to the managers' recommendation, while the Bank participates directly by supporting the creation of new forests and the organization of planting events in some Italian cities. In 2023, the first planting events were held in Turin and Rome.
Note:
1 Targets revised in relation to the SBTi targets for the Automotive and Power Generation sectors.
A year of sustainability
Last updated 3 April 2024
