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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

€32bn for the ecological transition

disbursed in 2021 and 2022 for the customer support through the ESG/ climate transition

€3,1bn disbursed

within the 8 billion euro dedicated to the circular economy (plafond launched in february 2022)

8 ESG Labs

within the 2022-2025 Business Plan target of more than 12 ESG Labs (at least one in each Regional Governance Centre)

ESG Transition: discover all the objectives and the results

2022-2025 Business Plan: 2022 results
2022-2025 Business Plan Objectives
Transition to a sustainable, green and circular economy and sustainable investments and insurance
Description Achievement as at 31.12.2022
(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)

 

€32bn of new lending disbursed in 2021 and 2022 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: €6.3bn, equal to 7.7% of total loans
of which Green Mortgages Further boost to sustainable credit for retail customers with special emphasis on the ecological transition: 12 billion euro of green loans to individuals over the 2022-2025 Plan €2.6bn of Green Mortgages disbursed 
of which circular economy €8bn dedicated to the circular economy

Circular economy credit plafond*: 3.1 billion euro (of which 2.2 billion euro dedicated to green finance) disbursed

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

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

€3.5bn granted since launch, of which €2.2 in 2022

 

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 8 ESG Workshops were launched and the first 12 dedicated ESG specialists were involved during the course of the year
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 related environmental benefits at portfolio level for each of the green categories. A total of 5.5 million tonnes of CO2 eq emissions were avoided in 2021

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

A new Green Bond with a nominal value of 1 billion euro was placed in September 2022, aligned with the new framework and whose proceeds are allocated for all of the Green categories included in the said framework

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 232 products 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 Sustainable Finance Disclosure Regulation - SFDR, with around 110 billion euro of assets representing over 54% of the total assets of the funds managed

Fideuram offers 81 funds classified pursuant to Articles 8 and 9 of SFDR for a total amount of 26.6 billion euro of assets (61% of total assets of the funds managed), a sharp increase compared to 3 billion euro in 2021

In Eurizon, there are 342 companies on which engagement activities were conducted; these include 194 (around 57%) which were engaged on ESG issues. 

Eurizon conducted 538 engagement activities, of which 271 qualified as ESG and represented 50% of the total engagements carried out in the period (34% of the total meetings)

The Private Banking Division ran 47 events during the year aimed at customers (28 face-to-face and 19 remotely) achieving a total of 11,150 participants (5,000 face-to-face and 6,150 remotely).

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 51,000 hours already delivered 

Sustainable insurance

Strengthening of the unitlinked/multi-line offering with ESG investment options

 

Strengthening of the positioning in the non-motor damage insurance segment, including the protection of real estate assets

72% (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

Earthquake and/or Flooding insurance cover provided to customers who insure their house: 33.5 billion euro of insurance value

(*) Credit plafond dedicated to the circular and green economy which includes specific incentives.

Latest news

Intesa Sanpaolo supports companies' energy transition with €76 bln

Intesa Sanpaolo presents its new “Motore Italia Transizione Energetica” programme, which confirms €76 billion in support of business investment in renewable energy and encourages the creation of renewable energy communities (RECs).

Read more
ESG transition: agreement with GSE for sustainable business development

Intesa Sanpaolo and GSE have signed a memorandum of cooperation to foster the integration of ESG and sustainable development issues in the financial sector and the Italian business community.

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
Social Bond in Sterlin issued in May 2023:  
Green, Social and Sustainability Bond Framework - June 2022
Second Party Opinion ISS - June 2022
Press Note
   
Green Bond issued in May 2023:  
Green, Social and Sustainability Bond Framework - June 2022
Second Party Opinion ISS - June 2022
Press Note
   
Green and Social Bond Report 2022
   
Green Bond issued in March 2023:  
Green, Social and Sustainability Bond Framework - June 2022
Second Party Opinion ISS - June 2022
Press note
   
Green 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
   
Green 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 2022:  
Transition to a sustainable, green and circular economy
Climate Change
Environment indicators - pdf
Environment indicators - excel
   
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
 
Green Bond Report 2021
 
Green Bond issued in March 2021:
 
Green, Social and Sustainability Bond Framework 
Second Party Opinion
Bond Investor Presentation
Press release
   
Green 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
 
Green 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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