Climate Change
Intesa Sanpaolo's commitment to combat climate change.
Commitment to environment and climate
Act today for the climate
to achieve the goals of today and tomorrow
Intesa Sanpaolo has chosen to pursue the "Net Zero" goal by 2050 - for its own emissions, for loans and investments portfolios and asset management - by joining the Net-Zero Banking Alliance (NZBA) and, through Eurizon Capital SGR, Fideuram Asset Management SGR and Fideuram Asset Management Ireland, to the Net Zero Asset Managers Initiative (NZAMI).
In the 2022-2025 Business Plan, the commitment will be strengthened by bringing own emissions to zero by 2030 and protecting and regenerating natural capital.
Intesa Sanpaolo has always been committed to promoting environmental sustainability by integrating this objective into its strategy with an important commitment to support the green transition which aims at supporting businesses and the circular economy as well as reducing its emissions.
The ecological transition is an innovation process that promotes the transition from an economic, social and environmental model that is dissipative and extraneous to the environmental context in which it is inserted, to a system of regenerative production and consumption that has economic, social and environmental sustainability as its goal.
The path towards ecological transition and Net Zero commitments are fundamental to guaranteeing a future for present and next generations. It is necessary to set concrete objectives to overcome the difficult challenge of climate change.
Main objectives and results
Net Zero objective - net emissions 0
own by 2030, in terms of loan and investment portfolios, asset management and insurance by 2050
88% renawable elecricity purchased
versus total purchases. In line with 2021 objective
3.200 t paper saved
Objective: responsiblie use of resources
The above data are referred to 2018-2021 Business Plan and, where otherwise not specified, are data as at 31.12.2021
Environmental protection and attention to climate change are key dimensions of the Intesa Sanpaolo Group's responsibility and the importance of this commitment is first of all reaffirmed in the group's values and in the codes and rules that guide its way of operating.
Clear examples of this are the Code of Ethics, the Rules for the environmental and energy policy, the Guidelines for the governance of environmental social and governance risks (ESG) and, in order to support the transition to a low-carbon economy, also the Rules for the coal sector and the Rules for lending operations in the unconventional oil&gas sector.
Thanks to these foundations, the Bank is able to set up action plans and processes that allow it to manage its activities, environmental risks and related mitigation actions in an integrated and constructive way.
Environment and climate change: discover all the objectives and the results
Objectives and results: 2018-2021 Business Plan
| 2018-2021 Business Plan targets |
Description | Achievement (data as at 31/12/2021, where not specified) |
| Transition to a sustainable, green and circular economy | Support the transition with dedicated financial instruments Creation of a Plafond of 6 billion euro for credit to companies for circular economy projects Sustainability Linked Loans (S-Loan) development with a reward mechanism for companies based on ESG KPIs |
About €8.7bn loans disbursed for the Green and Circular Economy (11.2% of total loans, 2.9% in 2020) €5.5bn disbursed since the launch of the Plafond in 2019 €1.3bn S-Loans disbursed since the launch in July 2020 |
| Containment of CO2 emissions (1) |
Improvement of energy efficiency and use of renewable energies for the containment of emissions | 88% electricity from renewable sources on the total electricity purchased -9.1% electricity consumption vs 2020 -3.7% CO2 emissions vs 2020 (- 40% vs 2012 including UBI) |
| Responsible management of resources | Responsible use of resources | Purchased paper: -11.7% vs 2020 ISO 14001 and 50001 certified scope: 100% of Intesa Sanpaolo branches and buildings in Italy New Headquarters: Green Building Council LEED certification - Platinum level - in the sustainable building management category |
(1) The 2020 figures were redetermined to include the UBI Banca Group for the entire year.
2022-2025 Business Plan: objectives
- Net-Zero emissions in 2050 for loan and investment portfolios and Asset management and Insurance
- Net-Zero aligned targets for 2030 in the following high-emitting sectors(1) (2030 target(2) against the 2019 baseline(3)):
- Oil & Gas(4) (Scope 1,2,3): reduction from 64 to 52-58 gCO2e/MJ
- Power generation (Scope 1,2): reduction from 214 to 110 kgCO2e/MWh
- Automotive (Scope 3): reduction from 162 to 95 gCO2e/vkm
- Coal mining (exclusion policy): exposure reduction from 0.2 billion euro to zero by 2025
- Net-Zero own emissions target already in 2030 with 100% purchased renewable energy at Group level in 2030
- Commitment to planting 100 million trees, directly and through dedicated financing to clients
- Adoption of a specific policy on biodiversity
(1) Sectors consistent with Net-Zero Banking Alliance. Reference scenario: IEA Net-Zero 2050.
(2) Targets may be updated over time following the evolution of the emission calculation methodology, the regular updates required by NZBA, SBTi and any issuance of new external guidelines.
(3) Portfolio composition as of 30.6.21, latest available emissions data as of FY19.
(4) The Group already has a policy in place to phase out unconventional oil&gas by 2030.
Latest news
Insights into environmental challenges
Direct environmental impacts
Actions aimed at the mitigation of direct emissions and the support to green initiatives and projects.
International working groups
International initiatives and working groups aimed at promoting dialogue on the environmental sustainability and climate change issues.
ESG Transition
A wide and various offer of financing and consulting products, attentive to the protection of the environment around us.
Documents and indicators
Documents relating to environmental reporting and information relevant to the investors are available below.
| Documents | |
| Bond issued in August 2022: | |
| Green, Social and Sustainability Bond Framework - June 2022 | |
| Second Party Opinion ISS - June 2022 | |
| Investor presentation | |
| Press note | |
| Climate Change Action Plan |
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| Consolidated Non-financial Statement 2021: |
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| Transition to a sustainable, green and circular economy | |
| Climate Change | |
| Environment indicators - pdf |
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| Environment indicators - excel |
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| Consolidated Non-financial Statement as at 30 June 2021: |
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| Environmental and Climate Change indicators |
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| Consolidated Non-financial Statement 2020: |
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| Environmental and Climate Change | |
| Environment indicators - pdf |
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| Environment indicators - excel |
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| Consolidated Non-financial Statement as at 30 June 2020: |
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| Environmental and Climate Change indicators |
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| Green Bond Report 2021 | |
| Bond issued in March 2021: |
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| Green, Social and Sustainability Bond Framework |
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| Second Party Opinion |
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| Bond Investor Presentation |
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| Press release |
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| Bond issued in November 2019: | |
| Green Bond focused on Circular Economy Report - 2020 | |
| Press Release | |
| Intesa Sanpaolo Sustainability Bond Framework |
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| Second Party Opinion by ISS ESG |
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| Investor presentation | |
| Bond issued in June 2017: |
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| Green Bond Report 2020 | |
| Green Bond Report 2019 |
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| Green Bond Report 2018 |
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| Green Bond Framework |
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| Green Bond Presentation | |
| Green Bond Press Release |
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Last updated 3 June 2022 at 12:21:09
