Gros-Pietro: large firms’ responsibility and efficacy in sustainability

At the 16th COTEC Europe Symposium, an international summit on "Innovation in Sustainable Finance" attended by heads of state from Italy, Spain and Portugal, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro spoke on the panel "The Private Dialogue on Innovation in Sustainable Finance".

The Symposium brought together senior representatives of institutions and companies from the three countries for a discussion and to outline common actions on investments in environmental and social sustainability, reflecting on how finance, through innovative instruments, can contribute to the achievement of the 17 goals of the 2030 Agenda 

In his speech, Chairman Gian Maria Gros-Pietro emphasised the role of responsibility played by large companies in the process of transforming the planet and their operational efficacy, recalling Intesa Sanpaolo's commitment in this area and the need to collaborate with institutions:

• "The problems to be solved are immense: climate change, inequality, resource depletion, reduction of the world's biodiversity. These problems arise from the kind of economic development we have had, in which big companies have played a leading role. Big companies enjoy enormous operational efficacy. The world cannot do without them. Yet, since they are changing the planet, they must take responsibility for it"
• "At Intesa Sanpaolo, we have created a control room, which reports directly to the CEO and is headed by the CFO [...]. At all levels, and in every division, there is sustainability management and a sustainability manager who is responsible for the objectives to be achieved. This means providing debt but also equity capital [...]: the needs are huge; public funds cannot suffice and we bring in private money"
• "We need extensive cooperation with institutions because solutions to problems such as climate change require political decisions, at a national and supranational level. These decisions can radically change the outlook for individual technologies, so we need clarity in this area."