Direct environmental impacts
Intesa Sanpaolo supports the transition to a low-emission economy through direct emission mitigation actions and support for green initiatives and projects.
Intesa Sanpaolo's commitment to the environment takes the form of self-regulatory environmental and energy instruments that define the strategic and operational guidelines within which the Group implements the initiatives for environmental protection and reduction of its ecological footprint as required by the Environmental and Energy Policy Rules and other environmental policies issued by the Intesa Sanpaolo Group.
For years, Intesa Sanpaolo has been active in promoting renewable energy, energy efficiency and the circular business model, supporting companies at the forefront of reducing their environmental footprint.
The Group Code of Ethics and the Environmental and Energy Rules, approved by the Top Management, define the principles and guidelines relating to the Group's environmental responsibility and the control of direct and indirect impacts generated by its business, also through the issuing of specific policies, which set the necessary actions for mitigating climate change.
In line with its environmental responsibility commitments, Intesa Sanpaolo since 2009 has set medium to long-term objectives through the preparation of specific environmental action plans.
The Climate Change Action Plan, approved in 2017 (the third plan for the reduction of own emissions since 2009) identified targets for the reduction of its CO2 emissions and consumption of resources, with targets for 2022 and 2037, and for an increase in the use of renewable energy sources and the production of energy from renewable sources. The plans put in place made it possible to reduce own emissions by approximately 55.5% from 2008 to 2022.
As a demonstration of the strategic importance of climate change, in 2021 Intesa Sanpaolo set itself the goal of achieving net-zero emissions by 2050 in terms of own emissions and in terms of loan and investment portfolios, asset management and insurance business. The Group has joined the related initiatives launched by UNEP FI. More specifically, in October 2021 Intesa Sanpaolo joined the Net-Zero Banking Alliance (NZBA); in November 2021 Eurizon Capital SGR, Fideuram Asset Management SGR and Fideuram Asset Management Ireland joined the Net-Zero Asset Managers Initiative (NZAMI); and in December 2021 Intesa Sanpaolo Vita joined the Net-Zero Asset Owner Alliance (NZAOA) and the Net-Zero Insurance Alliance (NZIA).In particular, as regards its own emissions, the bank's commitment to contain CO2 emissions is reflected in the implementation of the new Own Emissions Plan which identifies specific medium / long-term actions aimed at reducing its consumption of natural gas, diesel and traditional electricity.
This Own Emissions Plan has the objective, published in the 2022-2025 Business Plan, of reaching carbon neutrality for own emissions already in 2030 with 100% of energy purchased from renewable sources at Group level (level already reached in 2021 in branches and buildings based in Italy).
Environmental policies represent the Group's commitment to environmental protection and the reduction of its ecological footprint.
We are pursuing a systematic and progressive reduction of our emissions and ecological footprint through the adoption of various initiatives.