Sustainable transition

Green Bonds

Intesa Sanpaolo was the first Italian bank to issue a green bond in 2017 and has since become a regular issuer of ESG bonds, with a considerable increase in issuance volumes in 2023, which led the Group to become one of the top European bank issuers of the year.

For its issues, the Bank has developed a specific Framework compliant with the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines of ICMA (International Capital Market Association). The framework was updated in June 2022 in alignment with the ICMA Green Bond Principles 2021, ICMA Social Bond Principles 2021 and ICMA Sustainability Bond Guidelines 2021, as well as the European Green Taxonomy (on a “best effort” basis) and it obtained the Second Party Opinion of ISS ESG.



€8.7 bn Green Bonds outstanding 
a notable increase compared to €3.5 bn in 2022.


€5.2 bn Green Bonds issued


19.9% Green Bonds Ratio1

The 2023 Intesa Sanpaolo's Green Bonds

The 2023 Intesa Sanpaolo's Green Bonds

The 2023 Intesa Sanpaolo's Green Bonds
February 2023
Senior Non Preferred dual tranche issue for a total of €2.25bn
For all green categories. Total orders €5.3bn
March 2023
Senior Non Preferred Green issue intended for the sterling market, for a nominal value of £600m
The Bond was Intesa Sanpaolo's first Green in sterling and more generally the Group's first Senior Non Preferred on this market.
May 2023
Green Bond in Senior Preferred dual tranche format for €2.25 billion
for all the green categories

In March 2024, the third Green and Social Bond Report was published based on annual reporting according to the "Portfolio approach".
The reporting estimates the impacts and benefits obtained for the entire portfolio of eligible loans for each green category and also allows calculation of CO2 tons avoided directly attributable to the individual bond by observing the average impact estimated per million euro financed


6.5 million of CO2 tons avoided with the Green bonds


(1) Percentage of green bonds outstanding at year-end on the total amount of outstanding of Senior Preferred, Senior non-Preferred and Covered Bonds intended for institutional investors (five-year moving average). Data as of 12/31/2023.