Intesa Sanpaolo only Italian bank at Climate Change Conference COP27
Intesa Sanpaolo is the only Italian bank to attend the COP27 climate summit in Egypt, confirming the Group's international commitment to fighting climate change.
In particular, Intesa Sanpaolo addressed how it is adapting its best practice in Egypt, through its subsidiary ALEXBANK, by transferring innovative financial initiatives in support of agriculture to foster financial inclusion in rural areas.
"We are convinced that our international experience in the fields of sustainable finance and agribusiness can accelerate the transfer of knowledge towards an environmentally sustainable agricultural sector, capitalising on local talent in Egypt, where we are present through ALEXBANK.”
“The goal is to provide innovative financial and non-financial solutions that support integrated economic development, financial inclusion and environmental sustainability to contribute to the implementation of Egypt's 'Vision 2030' and the UN Sustainable Development Goals.”
“Intesa Sanpaolo approaches agribusiness projects in terms of both sustainable business opportunities and holistic approach to sustainable development, recognising the central role of agriculture."
Marco Elio Rottigni, Chief of Intesa Sanpaolo's International Subsidiary Banks Division*
Agriculture is a major component of the Egyptian economy, contributing approximately 11.3% of the country's GDP in 2021 (World Bank), 28% of its jobs (USAID) and over 55% of its employment in Upper Egypt (USAID).
Intesa Sanpaolo's IMI CIB Division also participated in COP27:
“The challenge posed to banks by the major changes taking place in the climate is that of constant adaptation of their business models to developments in the field of sustainability.”
“In particular, the IMI CIB Division of Intesa Sanpaolo is devoting considerable attention to supporting the sustainable transition of its clients through a specialised ESG platform."
Mauro Micillo, Chief of Intesa Sanpaolo's IMI Corporate & Investment Banking Division
The Intesa Sanpaolo Group has stepped up its commitment to net zero emissions by joining the Net Zero Banking Alliance (NZBA), the Net Zero Asset Managers Initiative (NZAMI), the Net Zero Asset Owner Alliance (NZAOA) and the Net Zero Insurance Alliance (NZIA).
In its 2022-2025 Business Plan, targets for 2030 have been set for four high-emission sectors – Oil & Gas, Power Generation, Automotive and Coal Mining – and a commitment is made to net-zero emissions by 2050, with reference to both own and loan and investment portfolios.
Group companies active in wealth management have also set their respective interim targets, aimed at achieving net greenhouse gas neutrality of assets under management by 2050.
* The International Subsidiary Banks Division of Intesa Sanpaolo oversees the Group's activities in 12 countries in Central and Eastern Europe and North Africa, with a staff of 21,000, 7 million customers, around 1,000 branches and €65 billion in assets.
Through its IMI CIB Division, the Group also boasts an international network specialised in supporting corporate clients in 25 countries, in areas where Italian companies are most dynamic.
Last updated 21 November 2022 at 11:31:33
