INTESA SANPAOLO: LOAN TO THE GERMAN PREZERO (SCHWARZ GROUP) LINKED TO THE CIRCULAR ECONOMY
- Additional international transaction concerning the 6-billion-euro ceiling announced in the 2018-2021 Business Plan.
- Mauro Micillo: “We remain committed to providing financial support for the innovative re-design of the industrial system”
Milan, 19 January 2021 - Intesa Sanpaolo and PreZero - the waste and recycling management unit of the German retailer Schwarz Group - have signed their second transaction in the amount of 70 million euro to achieve specific targets related to the circular economy.
For Intesa Sanpaolo this marks the conclusion of an additional international transaction concerning the 6-billion-euro ceiling dedicated to the circular economy and envisaged by the 2018-2021 Business Plan. The loan to PreZero is linked, in particular, to the Schwarz Group’s strategy in terms of improving plastic recycling.
The transaction was concluded by the IMI Corporate and Investment Banking Division of Intesa Sanpaolo, headed by Mauro Micillo – thanks to the Industry Food & Beverage and Distribution Team with the colleagues of the Frankfurt office – with the support of the Circular Economy Desk of Intesa Sanpaolo Innovation Center, a company dedicated to innovating and spreading the circular economy, led by Maurizio Montagnese and headed by Guido de Vecchi.
“We are delighted to extend our collaboration with a leading international company like PreZero”, commented Mauro Micillo, Head of Intesa Sanpaolo’s IMI Corporate & Investment Banking Division. “This transaction confirms the increasing focus of both Italian and international industrial groups on products and services tied to sustainability and the circular economy. Providing support and impetus to initiatives such as this is precisely why the Group has decided to include a 6-billion-euro ceiling in the 2018-2021 Business Plan which is aimed at enterprises planning to adopt the circular economy model, offering them the best conditions for securing credit. That is why Intesa Sanpaolo intends to continue to redefine business strategies in an innovative way, guaranteeing financial support for investments to support the redesign of the industrial system.”
To boost and support the Green Economy, Intesa Sanpaolo has developed a wide and diversified range of financing and advisory products, dedicated to all types of customers, in Italy and abroad. Projects receiving Intesa Sanpaolo loans for the circular economy must meet a number of criteria, including product life extension, renewable energy, resource optimisation, recyclable products and technologies that enable and foster this economic model. This allows the Bank to disburse loans at increasingly advantageous terms for customers, subject to verifying the achievement of the circular economy objectives.
Intesa Sanpaolo is one of the most sustainable banks in the world, featuring in the leading sustainability indices. This background and the strong drive towards innovation form the basis of a commitment to the circular economy, an economic model aimed at decoupling development from the exploitation of finite natural resources, as well as redesigning the industrial system. Intesa Sanpaolo is the Financial Services Strategic Partner of the Ellen MacArthur Foundation, a global leader in promoting the circular model, with which it has been collaborating since 2015.
Media Relations, Corporate & Investment Banking and Governance Areas
Last updated 19 January 2021 at 11:08