Intesa Sanpaolo renews its commitment to the circular economy alongside the Ellen MacArthur Foundation
• Intesa Sanpaolo remains the Foundation’s sole Financial Services Global Partner through renewed 3-year partnership
• Carlo Messina: “The Bank’s aim is to encourage more responsible growth towards the future”
• Ellen MacArthur, “An important contribution towards creating an economy that works in the long term the circular model”
Davos, 23 January 2019 – Intesa Sanpaolo renews its commitment alongside the Ellen MacArthur Foundation, the leading promoter of the global transition towards the circular economy, and is confirmed as the Foundation’s sole Financial Services Global Partner through a renewed three-year partnership. In this role, Intesa Sanpaolo will continue to redefine business strategies in innovative ways, guaranteeing financial support for investments that promote the redesign of the industrial system.
“The circular economy is a cultural transformation: supporting this model – commented Carlo Messina, CEO of the Intesa Sanpaolo Group - means a systemic reduction in the reliance on natural resources, which are by definition finite. This is why we want to support our business clients in the transition towards a successful model that is attracting increasing levels of financial resources: at the European level alone, €320 billion in new investments in sustainability and innovation are expected in the coming years. Adopting the circular economy model enables our industrial system to drive new development, create new jobs and create more advanced technologies. In short, it offers significant growth opportunities that are more responsible as we move into the future”.
“We are delighted to continue our partnership with Intesa Sanpaolo to further our shared ambition of accelerating the transition to a circular economy - said Ellen MacArthur, Founder Ellen MacArthur Foundation -. Intesa Sanpaolo’s commitment to financing and supporting innovative circular economy businesses, in Italy and beyond, is an important contribution towards creating an economy that works in the long term”.
Since 2015, Intesa Sanpaolo has been one of the Ellen MacArthur Foundation’s global partners, with the goal of supporting growth and innovation in industrial production. The Intesa Sanpaolo Innovation Center, the Group company tasked with exploring and understanding new business models, oversees all circular economy-related activities. The most notable initiatives include:
• Allocating a credit ceiling of up to €5 billion for the 2018-2021 period, with the commitment to support innovative and transformative projects for SMEs and large companies based on the principles of the circular economy;
• Promotion, with the Ellen MacArthur Foundation, of the circular economy through the ‘CE Startup Initiative’: an acceleration programme for startups which has been held previously in Italy and abroad, in particular at the Hub branches of the Intesa Sanpaolo CIB Division in London, Hong Kong and Dubai.
• Creating together with the Cariplo Foundation the CE lab, the first Italian circular economy lab, headquartered in Milan;
• Promoting the Circular Economy Manifesto signed by leading “Made in Italy” businesses and supported by the Italian Government;
• Contributing as Lead Partner to the Ellen MacArthur Foundation’s latest report ‘Cities and Circular Economy for Food’, which launches at the World Economic Forum Annual Meeting in Davos, Switzerland, on 24 January 2019.
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Last updated 23 January 2019 at 15:00