Loans and services for the Green Economy
In 2019, the Group's disbursements for the Green Economy totaled 1,419 million euro (almost 20 billion in the 2010-2019 period).
The Bank supports the green projects of Retail customers through the provision of loans and mortgages for environmental purposes. These loans include the replacement of fixtures and high-performance boilers, the renovation of buildings from an energy efficiency perspective, the purchase of environmentally-friendly vehicles and the installation of solar and photovoltaic panels. In line with the attention to the green world, Intesa Sanpaolo participates in the EeMAP (Energy efficient Mortgages Action Plan) project, a European initiative that aims to create a standardised energy efficient mortgage, with a view to encouraging the redevelopment of buildings and the purchase of highly efficient properties through preferential financial conditions, sharing the association's criteria on green issues. In this context, initiatives dedicated to green financing will be launched in 2020 to encourage both the purchase of high energy efficiency properties and the redevelopment of the existing real estate assets.
“Valorizzazione Immobiliare”, an ancillary service to loans, seeks to support customers who intend to invest in their homes through energy redevelopment and restructuring works, providing free information on tax benefits and savings on energy bills, as well as to support the best loan and home protection solutions. Customers can also take advantage of discounts on the services offered by partners of the initiative which operate in the energy savings and redevelopment sectors. Among the insurance products that aim to cover customers' insurance needs in the Family, Health and Property areas, the “XME Protezione” insurance cover, places special emphasis on protection against natural disasters, offering protection from damage caused by atmospheric events such as floods and cloudbursts. Over 76,000 “XME Protezione” policies with flood coverage were taken out at the end of 2019.
In the segment of motor insurance products, the “ViaggiaConMe” policy with consumption-based plan provides for a premium linked to the kilometres travelled during the year: once the defined threshold has been exceeded, the premium to be paid will be integrated based on the additional kilometres travelled. The proposed solution therefore discourages the use of vehicles, with potential positive impacts on the environment.
Intesa Sanpaolo has continued to support non-profit companies that wish to invest in energy efficiency projects with solutions that make it possible to save on energy costs and increase the overall sustainability of the company's activity.
The range of financing products for companies is divided into several products and solutions.
These include the Finanziamento Energia Imprese (businesses energy loan), which is designed to support investment plans focused on the development of efficient energy production plants and diversifying energy sources and/or streamlining consumption, as well as the Finanziamento Energie Rinnovabili (renewable energy loan), created for the construction of new plants for the production of renewable energies other than photovoltaic energy, such as biomass and small-scale wind energy. Since the beginning of 2019, the “Finanziamento Condominio” product has been restyled, providing greater flexibility, in line with tax incentives (such as Ecobonus and Sismabonus) envisaged for the restructuring of the condominium common areas, extending its duration up to 10 years.
Intesa Sanpaolo, through former Mediocredito Italiano, continued to support businesses that invest in renewable energy production plants and in the energy efficiency of their production processes, providing dedicated financial solutions and specialist advisory services. All loans, overseen step by step by the specialist Energy Desk, are always preceded by an appraisal in support of the Bank’s credit assessment.
Relevant is the role of the Corporate and Investment Banking Division and IMI Bank for environmental sustainability, through the provision of forms of support aimed at supporting large Italian and international companies in their projects transitioning to a low-carbon economy and/or projects aimed at supporting investment plans aimed at building efficient energy production plants, diversifying energy sources and/or rationalizing consumption. Various forms of financing are available, such as: Green Revolving Credit Facilities, Green Syndicated Loans, Green/Sustainable Bonds (e.g. SDG-Linked or Climate Change) and Project Finance dedicated to the world of renewable energy (wind, photovoltaic, biomass, water).
During 2019, the Corporate and Investment Banking Division participated, as a Bookrunner, in 12 Green, Social and SDG-linked Bond issues onto the Euro market, including the issue of the Intesa Sanpaolo Group Sustainability Bond, thus confirming its role among the leading players on the Italian market. Banca IMI, acting as Global Coordinator, Bookrunner, Mandated Lead Arranger and Green Coordinator in pool with other banks, last November signed with Italo, leader in Europe in the high-speed railway transportation sector, the largest-ever Green Loan in Italy and the largest worldwide in the transportation sector. The loan, worth 1.1 billion euro, envisages bonus-award mechanisms for the company linked to sustainability principles. As part of the transaction, Banca IMI entered into a further agreement with Italo to cover the loan (ESG Linked Hedging) which will reward the virtuous conduct of the transport company, improving the conditions of the derivative if certain ESG (Environment, Social, Governance) sustainability indicators are complied with.
Loans disbursed for the Green Economy
|Loans disbursed for the
|Businesses and Third Sector||m euro
|Corporate & Project finance
|of which Project finance
Data not comparable for changes that occurred over the years in the aggregation criteria.
Last updated 4 August 2020 at 14:56:42