2023 Consolidated Non-financial Statement, Climate Report and PRB Report

Intesa Sanpaolo has published also this year an integrated set of sustainability reports: the Consolidated Non-financial Statement (CNFS), the Climate Report¹ dedicated to climate issues and the transition towards a low-emissions economy and the PRB Report which reports on progress achieved with respect to the Principles for Responsible Banking (PRB).

The CNFS, the fulcrum of qualitative and quantitative reporting, represents the performances achieved by the Group in 2023 in the ESG (Environmental, Social, Governance) field and contains a large section dedicated to reporting pursuant to the European Taxonomy. It is accompanied by the other two documents to offer all stakeholders increasingly complete and transparent information.

The 2023 results confirm the Group's commitment in line with the objectives of the ESG pillar declared in the 2022-2025 Business Plan and express the ability to generate significant value creation for all stakeholders.

In line with the commitments undertaken also with the adhesion to the NZBA, the target setting exercise on financed emissions continued in 2023 for two new sectors (Iron&Steel and Commercial Real Estate - CRE) which are added to Oil&Gas, Power Generation, Automotive, Coal mining.

The Climate Report highlights an overall reduction in absolute financed emissions across the six sectors of more than 22% compared to 2022.

Among the main results of the sustainability commitment with respect to the objectives of the 2022-2025 Business Plan:

• approximately €45 bn of credits disbursed to businesses in the period 2021-2023 as part of Mission 2 of the National Recovery and Resilience Plan (NRRP), the €76 bn disbursement plan (2021-2026) dedicated to the green, circular economy and to the ecological transition;
  
• €5.6 bn of financing disbursed in 2023 within the €8 bn plafond dedicated to the circular economy (2022-2025); 
• approximately €1.7 bn of S-Loan financing disbursed in 2023 to support the ESG transition of companies;
• approximately €1.7 bn of Green mortgages granted in 2023 to private individuals compared to €12 bn made available over the Business Plan period (€4.3 bn in 2022-2023); 
• launched the Think Forestry program, for the reforestation and preservation of natural capital, with the aim of planting and preserving 100 million trees through the joint action of the bank and client companies over the 2022-2025 Business Plan;
• further strengthening in 2023 of the offer of investment products attentive to sustainability, with a penetration in Eurizon of over 74% of managed savings products (articles 8 and 9 of the Sustainable Finance Disclosure Regulation - SFDR), including Asset Management, on the total Assets under Management; 33 billion euro in Fideuram fund assets classified according to articles. 8 and 9 of the SFDR, (71% of total assets);
• considerable increase in the volumes of Green issues which led the Group to be among the top European bank issuers of the year: in 2023 Green Bonds issued for approximately €5.2 bn and Social Bonds for £750 m;
• €14.8 bn disbursed in social lending and urban regeneration in the period 2022-2023, on a target of €25 bn over the period of the Plan;
• commitment to allocate approximately €1.5 bn for the five-year period 2023-2027 to selected initiatives and projects to address social needs, combat inequalities and promote financial, social, educational and cultural inclusion; 
• over 36.8 million interventions of the Food and Shelter Program for the needy in 2022-2023, out of a Business Plan target of 50 million interventions; 
• the commercial launch of the new digital bank Isybank was carried out in 2023; 
• 405 innovation projects in the period 2022-2023, out of a target of 800 over the period of the Business Plan; 
• further progression in the reskilling path and provision of over 1 million hours of ESG training in 2023; 
• continuous growth in the people satisfaction index, at the highest level in the last ten years (84% in 2023).

2023 Consolidated Non-financial Statement

2023 Climate Report

2023 PRB Report

¹ The Climate Report 2023, previously called the TCFD Report, was prepared in accordance with the latest recommendations released in October 2021 by the Task Force on Climate-Related Financial Disclosures (TCFD). In October 2023, following the completion of the Task Force's mission, the IFRS Foundation, on the recommendation of the Financial Stability Board (FSB), assumed responsibility for monitoring the progress of companies in terms of disclosure of climate information.