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 Plans implemented have made it possible to reduce emissions by 59.5% in 2023 compared to 2008 levels.

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.

In consideration of its membership of the Net-Zero Banking Alliance and the ever-increasing strategic importance of the issue of CO2 emissions, Intesa Sanpaolo published a new plan in 2022, called Own Emissions Plan, which replaces the previous Climate Change Action Plan and which identifies specific medium-long term actions aimed at reducing its consumption of natural gas, diesel and traditional electricity.

The targets set in the Plan for 2030 are:
• 100% of electricity purchased from renewable sources
• Carbon neutrality with a reduction of at least 53% in Scope 1 and 2 Market-Based emissions compared to 2019. The emissions remaining in 2030 will be offset through specific projects.

At the end of 2023, there was a 28.2% reduction in Scope 1 and 2 Market-Based emissions compared to 2019, in line with the provisions of the intervention plans and a purchase of electricity from renewable sources of 88.2% .