INTESA SANPAOLO: €71 MILLION FROM CHARITABLE FUND OVER THE LAST 5 YEARS FOR A TOTAL OF OVER 4 THOUSAND PROJECTS SUPPORTED
WOMEN, YOUNG PEOPLE AND THE FIGHT AGAINST THE EDUCATIONAL AND DIGITAL DIVIDE IN THE NEW 2023-2024 GUIDELINES
Chairman Gros-Pietro: "Combating inequality in Italy lies at the heart of the Fund's philanthropic work. The Group's results are fundamental to its social commitment"
In 2023, the endowment of the Charitable Fund will rise to €20 million
Around €16 million was disbursed in 2022 to 865,000 direct beneficiaries through over 700 non-profit organisations
Milan/Turin, 17 April 2023 – A total of €20 million in resources will be available in 2023 for Intesa Sanpaolo's Charitable and Social and Cultural Works Fund, managed by the Bank's Chairman, to disburse to non-profit organisations to combat situations of adversity exacerbated by the health, economic and social crisis of recent years.
The Fund's 2023-2024 Guidelines were also defined to guide its activities over the next two years. There are four priority areas of action: emergency measures against poverty, support for women and minors who are victims of violence, the fight against educational poverty and the digital divide and support for NEETs (young people neither studying nor working) and ELETs (young people who leave school or training early).
Developments in 2023 include a project to analyse the economic impact of the Charitable Fund's activities with Altis Advisory, a spin-off of Milan's Università Cattolica del Sacro Cuore, which has resulted in the design and identification of the Index of Economic Value Generated: according to the Index, the Fund's disbursements generate a "fourfold" multiplier effect in terms of the social and economic value of the goods and services provided by non-profits. For example, in the period January 2021-October 2022 €18.8 million was disbursed (economic value disbursed), corresponding to an impact of €78.2 million, with economic resources "freed up" for other needs (economic value generated). Donations translate into goods and services of benefit for the community, thus generating social value with effects that extend beyond the direct results of individual activities. The index identified by the analysis of disbursements gives a measure of the social and economic value generated by this virtuous mechanism.
Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo, commented: "A country in which the social divide continues to widen is not a country that can grow peacefully. This is the assumption underlying Intesa Sanpaolo's commitment to come to the aid of individuals and families in adversity – a commitment that in the 2022-2025 Business Plan has seen a twofold increase in the number of initiatives. The Charitable Fund has been contributing to this goal for some time and in 2023 will focus concentrate resources – €20 million – on narrowing the social, educational and digital gaps that limit the full development of Italy and its people. An urgent need recognised by the Bank, which allocates a share of its profits to charity and supporting solidarity projects."
In 2022, around €16 million was disbursed to 865,000 direct beneficiaries, successfully concluding the 2021-2022 cycle, the Guidelines for which identified as priorities initiatives related to some of the most urgent issues at national level, such as psychological support for those affected by the pandemic, job placement and young people.
The donations made by the Fund translate into goods and services offered free of charge to the community, generating effects that extend beyond the direct results of its activities. The requirements, timeframes and procedures for applying for benefits, which are outright donations by the Bank to particularly deserving projects, remain unchanged. Projects are identified through a selection process that takes into account their social impact and the institution's track record. Applications must be made through the Fund's platform which can be found at the link: https://group.intesasanpaolo.com/it/sociale/fondo-di-beneficenza/come-richiedere-un-contributo.
Activities of the Charitable and Social and Cultural Works Fund in 2022
After the outbreak of the war in Ukraine, the Charitable Fund was immediately activated to provide continuity in the emergency to the initiatives supported in the country in 2021. In mid-March, a total of around €300,000 was disbursed to Médecins Sans Frontières to ensure emergency medical support, training for local staff and the supply of medicines in Ukraine and neighbouring countries, as well as Soleterre Peace Strategies, to ensure shelter, psychological support and continuity of care for child cancer patients and their families.
The main commitment at national level was also confirmed in 2022, in line with the traditional positioning of the Fund, which historically concentrates resources in Italy. Both central and local donations thus continue to represent a means of support for the communities in which the Bank is present and operates with its branch network.
The North continued to represent the main destination of donations for projects realised, in view of the numerical majority of non-profit organisations based in Italy's northern regions (around 45% of total disbursements). Support for the other areas of the country remained significant: the South and Islands received 25% of the resources, with Sicily and Campania the top regions in the area and sixth and seventh regions respectively, in absolute terms, with disbursements of about €1 million to the former and €800,000 to the latter, equal to 7% and about 6% of the funds allocated. Contributions to Valle d'Aosta and Basilicata, traditionally regions with little coverage, more than doubled. Also noteworthy is the increase in resources for Lazio and Tuscany (about +50%).
The preferred area of intervention continues to be Social, with 89% of resources totalling nearly €14 million, up from the previous year (+5%). The projects supported in 2022 include initiatives to combat relational poverty for children and adolescents at risk of poverty and social marginalisation; projects to combat school drop-outs for students and training courses for families and teaching and educational staff; initiatives in favour of victims of violence; health, recreational and psychological support projects for sick children; support for centres for minors with cognitive disabilities; independent living experiences for the differently abled; and projects to assist patients with neurodegenerative diseases. The Research Area recorded total donations of €1,363,600 or 9% of the total, while for the Religious Area, i.e. initiatives presented by religious bodies, total donations amounted to €386,100 (1% of the total) and included projects of a social nature supporting disadvantaged people and those on the margins of society.
Management of the Fund has continued to give priority to initiatives benefiting the most vulnerable members of society, in line with the objectives set out in the Consolidated Non-Financial Statement: around 99% of the funds disbursed at the end of December 2022 were dedicated to initiatives with this purpose, including social inclusion issues, the fight against social hardship and poverty, disease prevention and treatment, support for disability and international cooperation projects. The four main purposes – accounting for 59% of the resources disbursed in 2022 – are charity, training and education, personal support and youth support initiatives.
Disability initiatives – about 9% of the resources disbursed – bear witness to the constant support provided to this target group, from the point of view of both health and socio-economic inclusion, with major commitments above all at the local level, where such initiatives are the most common (32% of disbursements made by Banca dei Territori). Compared to 2021, the share of research-related projects rose, climbing to around 9%.
The 2021-2022 Guidelines identified three issues that emerged from, or were further exacerbated by, the health emergency: psychological support for Covid sufferers and those most affected by the pandemic; training and job placement for vulnerable individuals, with a focus on new types of poverty; and support for adolescents and young people in situations of vulnerability, for whom a total of over €5.4 million (34% of the 2022 donations) was disbursed.
The office of the Chairman continued to support a number of initiatives in 2022 aimed at achieving the social objectives reaffirmed in the new 2022-2025 Business Plan (Food and Shelter for the Needy Programme). A total of €2.4 million was disbursed for initiatives fighting food poverty by covering or increasing the number of meals distributed by charitable organisations nationwide. Annual meals supported by the Fund are estimated to have exceeded 1.3 million, or about 3,600 meals a day.
As envisaged in Intesa Sanpaolo's Articles of Association, the Charitable and Social and Cultural Works Fund reports to the Bank's Chairman and allows a portion of profits to be allocated to charity and support for projects relating to solidarity, social utility and individual value. Consistent with the objectives of the Group's Code of Ethics, the aim is to share with the community a concern for the individual, human rights, economic and social solidarity, sustainable development, environmental conservation and the promotion of cultural initiatives for the disadvantaged. For further information: https://www.group.intesasanpaolo.com/scriptIsir0/si09/banca_e_societa/ita_fondo_beneficenza.jsp.
Donations, allocated on the basis of selections according to predefined mechanisms, include local funds (up to a maximum €5,000) in support of projects and initiatives with a local impact, and central funds supporting larger projects. The activity is part of the Group's pursuit of the Sustainable Development Goals set by the United Nations 2030 Agenda. Project applications at https://group.intesasanpaolo.com/it/sociale/fondo-di-beneficenza/come-richiedere-un-contributo.
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About Intesa Sanpaolo
Intesa Sanpaolo is Italy’s leading banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.
Last updated 17 April 2023 at 16:29