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Support to ESG transition

Intesa Sanpaolo has long been at the forefront of accelerating the transition to a low-emission economy with specific credit lines for private individuals and businesses and with an increasingly wide range of sustainable investment products. 

Letter to stakeholders, CEO Carlo Messina, Chairman Gian Maria Gros-Pietro

Intesa Sanpaolo wants to be an accelerator of the initiatives of the NRPP, in particular by accompanying companies in the sustainable transition with innovative credit instruments that allow concrete actions in improving their ESG profile

Anna Maria Roscio, Head of Business Marketing and Sales Department

Main objectives and results

€2.9bn to Green and Circular Economy

disbursed for the support to customer toward ESG/climate transition

€933m disbursed 1H2022

on €8bn plafond Circular Economy 2022-2025 launched in February 2022

6 ESG Labs as at 30.9.2022

on Business Plan objective of at least 12 (at least one lab in each regional governance centre)

ESG Transition: discover all the objectives and the results

2022-2025 Business Plan: results as at 30 June 2022
2022-2025 Business Plan Objectives
Transition to a sustainable, green and circular economy and sustainable investments and insurance
Description Achievement as at 30.06.2022
(where not specified)
New lending to support the ecological transition under the National Recovery and Resilience Plan

New lending to support the ecological transition: 76 billion euro's worth of loans in line with the National Recovery and Resilience Plan (2021- 2026)

 

€24bn of new lending disbursed in 2021 and 1H22 to support the ecological transition
Loans and services for the green and circular economy Customer support through the ESG/climate transition Loans disbursed for the green and circular economy: €2.9bn 
of which Green Mortgages €12bn of green loans to individuals over the 2022-2025 Plan €1.4bn for Green Mortgages
of which circular economy €8bn dedicated to the circular economy

Circular economy credit plafond: €933m 

New 3-year agreement with the Ellen MacArthur Foundation Strategic Partner 2022-2024

ESG-Linked loans for SMEs: S-Loan Supporting the sustainable economy

€2.9bn granted since launch, of which €1.5bn in 1H22

 

Green and sustainable culture and initiatives Support to SMEs/Corporate customers in achieving their sustainability objectives with specialised advisory services (at least one ESG Laboratories in each Regional Governance Centre by 2025 and ~100 dedicated ESG specialists) The first three ESG Laboratories were activated (in Venice, Padua and Brescia) and the first 6 dedicated ESG specialists 
Green Bond
Supporting the green economy

March 2022 saw the publication of the new Green Bond Report 2021 on the use of the proceeds of the four Green Bonds issued in 2017, 2019 and 2021 and their relative environmental benefits at portfolio level for each of the green categories; during 2021 5.5m tonnes of CO2 eq emissions were avoided in total

In June 2022 Intesa Sanpaolo published an updated version of the Green, Social and Sustainability Bond Framework, in line with the ICMA Green Bond Principles 2021, ICMA Social Bond Principles 2021 and ICMA Sustainability Bond Guidelines 2021 in order to promote alignment with the EU Taxonomy regulation on sustainable activities and with the Green Bond Standards 

In August 2022, the Group placed on the institutional market a new Senior Non-Preferred Green Bond for a nominal amount of €1bn, the issue of which has all the green categories described in the Framework as "use of proceeds"

Sustainable investments

Strengthening of the ESG offering in Asset management: growth of assets under management invested in ESG products to €156bn in 2025 from €110bn in 2021, increasing their level as a proportion of total assets under management from 46% to 60%



 

 

 

 

Enhancement of engagement activities in line with the Stewardship Principles



Development of dedicated ESG advisory services for Fideuram

Eurizon offers a diverse range of products across 188 funds in all the asset classes that include a focus on environmental or social issues, or have sustainable investment objectives, classified according to Articles 8 and 9 of the new Sustainable Finance Disclosure Regulation - SFDR, with around €103bn of assets representing around 49% of the total assets of the Funds managed 

Fideuram offers 59 funds classified pursuant to Article 8 of SFDR for a total amount of 21.9 billion euro's worth of assets (approximately 30% of total assets under management)

In Eurizon, there are 231 companies on which engagement activities were conducted; these include 143 (around 62%) which were engaged on ESG issues. 

Review of Fideuram's Advisory model to incorporate ESG principles into needbased financial planning and launch of a comprehensive training programme for ESG certification for bankers with over 25,000 hours already delivered in 1H22

Sustainable insurance Strengthening of the unitlinked/multi-line offering with ESG investment options  62% (number of funds) of unit-linked investment options linked to products open to new subscriptions (excluding pension plans) are classified according to Articles 8 and 9 SFDR
Objectives and results: 2018-2021 Business Plan
2018-2021 Business
Plan Targets
Description Achievement (data as at 31/12/2021, where not specified)
Loans and services for the Green and Circular economy Supporting the green economy and the circular model using 
innovative methods

Loans disbursed for the Green and Circular Economy: around 8.7 billion euro disbursed, equal to 11.2% of total loans (2.9% in 2020)

Circular Economy credit line: 5.5 billion euro disbursed in 2021 (7.7 billion euro disbursed since launch of credit line)

The collaboration with the Ellen MacArthur Foundation, of which Intesa Sanpaolo is a Strategic Partner, through an agreement triennial 2022-2024

ESG-Linked loans for SMEs: S-Loan Supporting the sustainable economy

In July 2020 Intesa Sanpaolo allocated a credit line of 2 billion euro (~1.3 euro billion granted since launch, of which ~1.2 euro billion in 2021) for S-Loans designed to help SMEs finance projects aimed at improving their sustainability profile 

The product range was expanded in April 2021 with S-Loan Diversity, in July with S-Loan Climate Change, and in November with S-Loan Agribusiness and S-Loan Turismo. All S-Loans have subsidised interest rates, subject to the annual monitoring of 2 ESG KPI, to be reported in the borrower’s financial statements. The new S-Loan Climate Change and S-Loan Agribusiness products can benefit from the 80% SACE green guarantee 

Green Bond
Supporting the green economy
A 1.25 billion euro Green Bond, focused on green mortgages for the construction or purchase of properties with energy efficiency class A or B and for redevelopment work on properties that leads to an improvement of at least two energy classes, was issued in March 2021
Leadership in sustainable investments
Consolidation of its leading role in sustainable investments

Eurizon: a diverse range of products across 172 funds in all the asset classes that include a focus on environmental or social issues, or have sustainable investment objectives, classified according to Articles 8 and 9 of the new Sustainable Finance Disclosure Regulation - SFDR, with around 110 billion euro of assets representing around 46% of the total assets of the Funds managed.

Fideuram: 8 funds classified according to Articles 8 and 9 of the SFDR with a total of 2.6 billion euro of assets (about 3% of the total assets of the Funds managed).

In Eurizon, there are 644 companies on which engagement activities have been conducted; these include 240 (over 37%) who have been engaged on ESG issues. The number of companies with ESG engagement has increased considerably compared to 2020 (+40%)

Latest news

€10bn for the energy independence of companies

Intesa Sanpaolo and SACE supply €10n to foster investment by businesses in renewable energy, so as to reduce dependence on fossil fuels and start a process of "energy self-production".

Read more
Skills4ESG: Intesa Sanpaolo training dedicated to sustainability

Flexible and customizable paths to improve your ESG skills.

 

Read more
New agreement with Enel for the supply chain sustainable growth

Easier access to credit and additional support to investments in sustainability for Enel value chain companies.

Read more

Insights on ESG transition

Green Bonds

The commitment to the Green Economy through the issuance of bonds dedicated to the financing of environmental sustainability projects.

Documents and indicators

Documents relating to environmental reporting and information relevant to the investors are available below.

Documents
Bond issued in March 2023:  
Green, Social and Sustainability Bond Framework - June 2022
Second Party Opinion ISS - June 2022
Press note
   
Bond issued in February 2023:  
Green, Social and Sustainability Bond Framework - June 2022
Second Party Opinion ISS - June 2022
Press note
   
Social Bond issued in October 2022:  
Green, Social and Sustainability Bond Framework - June 2022
Second Party Opinion ISS - June 2022
Investor presentation 
Press note
   
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 
Consolidated Non-financial Statement 2021:
 
Transition to a sustainable, green and circular economy
Climate Change
Environment indicators - pdf
Environment indicators - excel
Consolidated Non-financial Statement as at 30 June 2021:
 
Environmental and Climate Change indicators
Consolidated Non-financial Statement 2020:
 
Environmental and Climate Change 
Environment indicators - pdf
Environment indicators - excel
Consolidated Non-financial Statement as at 30 June 2020:
 
Environmental and Climate Change indicators
 
Green Bond Report 2021
 
Bond issued in March 2021:
 
Green, Social and Sustainability Bond Framework 
Second Party Opinion
Bond Investor Presentation
Press release
   
Bond issued in November 2019:  
Green Bond focused on Circular Economy Report - 2020
Press Release
Intesa Sanpaolo Sustainability Bond Framework
Second Party Opinion by ISS ESG 
Investor presentation
 
Bond issued in June 2017:
 
Green Bond Report 2020
Green Bond Report 2019
Green Bond Report 2018
Green Bond Framework
Green Bond Presentation
Green Bond Press Release
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