Third sector: Intesa Sanpaolo weighs impact of social projects financed
Intesa Sanpaolo has developed a new tool for measuring the impact of the projects of the non-profit organisations and social initiatives that it finances: it is called Impact Counter, and its first results were presented in collaboration with PwC Italia and Prometeia.
The new assessment model analysed more than 1,000 initiatives from January 2022 to June 2023, for which Intesa Sanpaolo disbursed €500 million, identifying the following impacts:
- 3 million potential individual beneficiaries
- 34,000 jobs approximately that may be supported within beneficiary organisations, with the resulting social and environmental impact
The Impact Counter has also made it possible to assess the change imparted to the community by assigning a monetary value to the benefits achieved: every euro of financing for the voluntary sector yielded twice its value in social benefits.
In further detail, the analysis shows that €124 million of financing to non-profit organisations resulted in €276 million of monetised benefits, contributing 47% to health, 13% to quality education and 11% to alleviating poverty.
The new assessment model developed by Intesa Sanpaolo, based on internationally recognised methodologies, is a further step in positioning the Group as a world leader in social impact and as a European leader in sustainable finance.
Focus on mamma@work and per Merito
The impact measurement developed a specific focus on the initiatives mamma@work and per Merito, supported by the Fund for Impact to promote high social impact credit inclusion and foster the empowerment of mothers in the workplace and of students in the educational system:
- mamma@work loan supported 318 working mothers with approximately €7 million disbursed (from July 2020 to June 2023): the monetisable value of the impact generated comes to an estimated €11 million
- per Merito loans, in June 2023, had been taken out by around 12,000 students: the value of the impact is estimated at €171 million.
In more detail, mamma@work helps reconcile work with childcare, a healthy family life and economic independence, while also supporting the birth rate. Per Merito is an affordable, no-guarantee loan for meritorious students who are on track with their studies, designed to reduce educational inequality in Italy and support those who wish to pursue postgraduate studies.
Last updated 19 December 2023 at 09:53:00
