INTESA SANPAOLO LAUNCHES "THINK FORESTRY", A PROJECT AIMED AT REFORESTATION AND PRESERVATION OF NATURAL CAPITAL
FIRST PHASE: A BANK-BUSINESS ALLIANCE FOR A ZERO EMISSIONS ECONOMY
GOAL: 100 MILLION TREES GLOBALLY
• First intervention in Italy, with planting in synergy with companies and retail customers through a partnership with Rete Clima. Starting from Turin and Rome, activities will expand across Italy from 2024, also involving retail customers.
• Businesses will contribute to improving the environment in their local communities, enhancing their sustainability and competitiveness parameters. Innovative solutions for businesses to support emissions reduction.
13 November 2023 – Intesa Sanpaolo launches Think Forestry, a project for reforestation and the preservation of natural capital aimed at promoting environmental sustainability and transitioning to a zero-emissions economy. The global objective is to plant and preserve 100 million trees through the combined efforts of the Bank and client companies, in line with Intesa Sanpaolo’s 2022-2025 Business Plan.
For the first time, an Italian bank is committing directly and engaging the business community towards a sustainable development path, aiming for zero emissions. A fundamental step from an ethical and social responsibility perspective, especially in light of the increasing market focus on environmental sensitivity as a primary factor of competitiveness.
With Think Forestry, the Group expands its support for the green transition of the Italian economy, providing tools and services for businesses to safeguard the territory and achieve excellence standards in sustainability.
The project starts with the immediate involvement of businesses, made possible by the deep relationship between Intesa Sanpaolo and its clientele. Intesa Sanpaolo recognizes the growing attention of companies to environmental best practices within business processes and climate change mitigation projects. This growing awareness, however, is not easily applicable—especially for SMEs—due to the lack of specific expertise and the difficulty in initiating concrete and recognized paths.
The first phase of Think Forestry will engage large and medium-sized enterprises that share the goal of reforestation and preservation of natural capital across Italy, through an extensive planting project. This initiative will leverage the partnership with Rete Clima, a leading Italian company in the development of reforestation plans and environmental sustainability, directly supported by the Group.
Rete Clima will provide consultancy and operational support to all client companies of the Banca dei Territori retail division – led by Stefano Barrese – and the IMI Corporate & Investment Banking Division – led by Mauro Micillo – that join Think Forestry and activate planting initiatives in their local communities.
The first planting event will take place tomorrow in Turin at Parco Colletta; on 16 November, the second event will take place in Rome in the Mezzocammino area. These two direct interventions by the Group will result in the planting of approximately 2,500 trees by the end of 2023. Starting in 2024, the activity will then be extended across Italy, based on intervention priorities indicated by the territories through partnerships that will develop with participating companies.
In addition to direct engagement in tree purchasing and planting, Intesa Sanpaolo will allocate a portion of the transaction fees from credit card transactions made by participating companies for the same purpose, aligning digitalization goals with environmental sustainability.
In the coming months, Intesa Sanpaolo will enhance Think Forestry with additional partnerships to address all phases of the emission management and reduction process by businesses, from measuring their environmental impact to climate change mitigation tools, allowing them to pursue a sustainable transition by raising their standards and engaging in environmental projects on an international scale.
Think Forestry aims to involve all clients, including families, who can join the program from 2024 through a specific initiative by For Funding, Intesa Sanpaolo's crowdfunding platform aimed at supporting impactful social and environmental initiatives through contributions from private individuals and Group resources.
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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, in particular with Isybank, the Group’s digital bank. 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 14 November 2023 at 12:33