Think Forestry: Intesa Sanpaolo committed to planting 100 million trees
Intesa Sanpaolo is proud to launch "Think Forestry", a project dedicated to reforestation and the protection of natural capital. The initiative aims to plant and preserve 100 million trees globally, aligning with our ESG commitment outlined in the 2022-2025 Business Plan.
Within the Think Forestry project, Intesa Sanpaolo actively engages client companies. This collaborative effort enables businesses to enhance the environmental quality of their territories, boosting their sustainability and competitiveness while contributing to the green transition of the Italian economy.
This marks the first time an Italian bank has taken direct action, committing to a sustainable development path with a goal of achieving zero emissions—an essential step given the increasing market focus on environmental sensitivity as a primary factor of competitiveness.
The Think Forestry Project in Detail:
Phase 1
In the initial stage, Intesa Sanpaolo will collaborate with large and medium-sized corporate clients to reforest and protect natural capital across Italy. A partnership with Rete Clima, a non-profit technical body supporting sustainable governance, will provide consultancy and operational support to companies joining Think Forestry.
Direct interventions by Intesa Sanpaolo include reforestation activities in Turin on November 14 and in Rome on December 16, aiming to plant approximately 2,500 trees by 2023. Additionally, a portion of the credit card transactions’ commission from participating companies will contribute to the initiative, aligning digitalization objectives with environmental sustainability. Intesa Sanpaolo's forestry activities contribute to the national "Foresta Italia" campaign, launched by Rete Clima in collaboration with Coldiretti and PEFC Italia.
Phase 2
For businesses, Intesa Sanpaolo plans to expand Think Forestry by collaborating on emissions management and reduction processes. This includes support for measuring environmental impact, climate change mitigation tools, and international engagement in environmental projects. Starting in 2024, families can also join the program through a specific initiative by For Funding, Intesa Sanpaolo's crowdfunding platform supporting impactful social and environmental initiatives through contributions from both private individuals and Group resources.
As part of the 2022-2025 Business Plan, Intesa Sanpaolo strengthens its ESG commitment, focusing on social impact and climate initiatives. With an allocation of approximately €115 billion to community support and the green transition, the Group aims for net-zero emissions by 2030 (own emissions) and 2050 (loan and investment portfolios, asset management, and insurance).
To achieve these goals, Intesa Sanpaolo is part of alliances for emission reduction to Net-Zero by 2050, including the Net Zero Banking Alliance, Net Zero Asset Managers Initiative, Net Zero Asset Owners Alliance, and Net Zero Insurance Alliance.
As of September 30, 2023, Intesa Sanpaolo has achieved remarkable results:
- €41 billion in new lending to support the green economy, circular economy, and ecological transition
- Over 70% of Assets under Management invested in ESG products
- €8 billion in green and social bonds
In 2022, the bank reduced absolute emissions by 62% for the four high-emitting NZBA sectors (Oil & Gas, Power generation, Automotive, Coal mining), with set reduction targets for 2030.
Last updated 13 November 2023 at 17:25:53
