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

The image accompanying the News on the speech by President Gian Maria Gros-Pietro at the XVI COTEC Europe Symposium, dedicated to the theme "Innovation in Sustainable Finance" portrays the Teatro Massimo in Palermo, where the conference is held

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."
The Cotec Foundation

The COTEC Foundation was set up on 24 April 2001. It coordinates state and local institutions, companies and research institutes.

COTEC's goal is to promote studies and research in various fields of innovation to support new policies to promote Italy's technological and scientific competitiveness.

Together with Fundación COTEC of Spain and Associação COTEC of Portugal, it represents the interests of the Mediterranean countries to the European Union, for policies and actions in support of innovation.

The three foundations organise the annual COTEC Europe Symposium, in which common actions on innovation policy issues are outlined and specific collaboration initiatives are implemented.

The President of the Italian Republic is Honorary President of the Foundation.

Intesa Sanpaolo is one of the Founding Members of COTEC, together with ENI, ENEL Foundation, TIM, Leonardo, Almaviva, Unioncamere, Ferrovie dello Stato, Poste Italiane and Materias.

Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo, is a Founding Partner in his own right of COTEC, together with Giuliano Amato, Luigi Merolla, Giuliano Urbani and Riccardo Viale. He is also a member of the Board of Directors.