Loans and services for the Green Economy

The Bank supports the green projects of Retail customers through the grantin of loans and mortgages for environmental purposes. 

The financing solutions are not only aimed at those who want to purchase or build an energy efficient property but also at those who want to improve their energy efficiency through energy-saving measures such as, for example, 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.

The Bank proposes Green - Mutuo Domus: a subsidised mortgage which makes it possible to purchase and build a residential property in Italy with a high energy class (equal to or higher than B) or to renovate a residential property in Italy improving its energy performance rating by at least one class. In 2021, about 14,000 green mortgages of a total value of over 2.2 billion euro were issued.

Intesa Sanpaolo participates in the EeMAP (Energy efficient Mortgages Action Plan) project, a European initiative that aims to create standardised European energy efficient mortgages with a view to encouraging the dedevelopment of buildings and the purchase of energy efficient properties thanks to preferential financial conditions. 

Special conditions were also introduced in the loans area for the XME Prestito Giovani product for environmentally aware customers who want to improve the quality of their properties with energy redevelopment measures. Around 6 million euro of green loans was granted in 2021.

The range of green solutions has been enriched with a series of dedicated services, some of which provided by partner companies.

Intesa Sanpaolo offers those planning to carry out renovation works - families, condominiums or specialist businesses, for example - a special structured solution so they can benefit from the subsidies introduced by the Italian "Rilancio" Decree (converted into Law no. 77 of 17 July 2020). This Decree raises the tax deduction level to 110% (the so-called "superbonus"), usable over five years or transfer of tax credit, for all energy redevelopment expenses incurred on the building between 1 July 2020 and 31 December 2021 for the performance of works such as insulation, the replacement of boilers with centralised condensation systems and heat pumps, including hybrid or geothermal systems.

Among the insurance products that aim to cover customers' insurance needs in the Family, Health and Property areas, the XME Protezione insurance policy focuses on protection against natural disasters, providing coverage for the damage caused by atmospheric events such as floods and cloudbursts. The coverage will reimburse up to 80% of the customer's property value. In the area of motor insurance products, the ViaggiaConMe policy with consumption-based plan involves a premium linked to the number of 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.

Lastly, following the environmental disasters and extraordinary weather events that affected Italy also in 2021, the Intesa Sanpaolo Group continued its tangible and concrete commitment to supporting households and businesses affected with specific focus on agricultural companies, penalised more than anyone else by exceptional weather events, through the activation of dedicated credit lines, new subsidised loans for redeveloping damaged structures (homes, shops, offices, artisan workshops and businesses), suspensions of payments on outstanding loans and preferential, simplified and expedited procedures for the new instruments.

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.

To support small and medium-sized enterprises that aim to improve their sustainability profile and with the goal of assisting them on a path of structural change, associating their economic and financial decisions with their environmental and social impacts, Intesa Sanpaolo has launched the ESG-Linked S-Loan. This loan involves the sharing of sustainability performance improvement goals by businesses, through precise commitments undertaken with the Bank via specific KPIs subject to annual monitoring, certified by the businesses in the notes to their financial statements, and rewards in the shape of special conditions, with rate reductions awarded to businesses that meet their fixed goals. The product is activated through the signing of a covenant based on the choice of two KPIs from a wide selection of possible initiatives. In 2021, 69.8% of businesses chose an Environment-related KPI.

Intesa Sanpaolo allocated a 2 billion euro credit line for the S-Loan as part of the 76 billion euro dedicated to the Green Economy. At the end of the year 715 projects had been funded for a value of around 1.2 billion euro. In particular:

• S-Loan ESG, with six KPIs for the 360° improvement of sustainability performances regarding: the procurement of renewable energy or bioenergy and the introduction of a procurement policy that takes account of Environmental considerations; activities to support the community organised on the basis of a multi-year programme and the development of programmes to engage customers and/or suppliers in sustainability issues, for the Social area; training activities for employees on environmental/social sustainability and the development of welfare programmes to improve the well-being of employees, for the Governance area
• S-Loan Diversity, with four different KPIs for promoting gender equality and the role of women in the socioeconomic context: promotion and launch of initiatives and good practices for facilitating and improving female participation in the community; launch of initiatives to drive up female employment rates in companies; definition and implementation of internal policies designed to guarantee gender equality in the business context
• S-Loan Climate Change, which offers six KPIs for developing the company business in an environmentally- friendly way, investing in projects designed to combat climate change and reduce the company’s emissions. The new KPIs regard the procurement of renewable energy, the introduction of “Green Procurement Policies”, the achievement of Carbon Neutrality
• S-Loan Agribusiness, which includes six KPIs for joint-stock companies in the sector interested in protecting themselves against the risks of climate change and in taking advantage of the opportunities that derive from the adoption of more sustainable business models
• S-Loan Turismo, based on six KPIs for joint-stock companies in the tourism sector, such as the purchase of electricity from renewable sources or bioenergy, the reduction of energy consumption.

An initiative was launched on For Funding, the Intesa Sanpaolo crowdfunding platform, to identify charity projects to support with donations connected with the sale of sustainable products, encouraging the same companies to make donations in turn. For every S-Loan taken out, Intesa Sanpaolo donates 200 euro to a good cause.

The products which can be combined with the S-Loan Climate Change and S-Loan Agribusiness loans and which represent solutions for professionals and businesses that wish to launch investment programmes in the energy sector include the Energia Impresa loan, available since the end of 2020, a particularly flexible solution both in terms of the personalisation of the loan and its adaptability to various segments: the Renewable Energy sector, Biogas, Biomethane, Energy Efficiency measures.

Also added to the catalogue in August 2021 was the MLT Loan with SACE Green Guarantee, which can also be combined with S-Loans. The medium/long term loan is designed to support the achievement of environmental goals, financing initiatives or activities to facilitate the transition to a clean and circular economy, integrate production cycles with low emissions technologies for the production of sustainable goods and services, and accelerate the transition to sustainable and smart mobility.

The IMI Corporate & Investment Banking Division (IMI CIB) continues to pursue its commitment to sustainability, promoting innovative financial solutions that respond to the growing need for products more in line with ESG criteria.

Support for the sustainable transition is provided thanks to the activities of the ESG Team IMI CIB, created in 2020 and made up of professionals with complementary knowledge, expertise and experience, to propose domestic and international Corporate customers a wide and integrated range of products and services.

In 2021 the Division participated in numerous green, circular and sustainability-linked financing operations (bilateral and syndicated). More specifically, the Bank acted as Sustainability/Green Coordinator in different syndicated lending operations such as those of TIM, Tod’s, Arvedi, FS and Lavazza.

In April 2021 the Division participated in the issuance of the first Italian green BTP, of a total amount of 8.5 billion euro, as Structuring Advisor and Lead Manager of the Department of the Treasury – MEF, and acted as Structurer of the relative Framework. All in all, the IMI Corporate & Investment Banking Division participated as Bookrunner in the issuance of 45 SDG-linked Bonds, Green Bonds, Social Bonds, Sustainability Bonds and Transition Bonds in the Euro market in 2021.

In terms of innovative solutions, in 2021 IMI CIB finalised sustainability-linked securitisations with some customers, linking the pricing with sustainability indicators consistent with the ESG goals the companies have set themselves.

The Division participated in syndicated loans also with financial institution counterparties, including some banks from Turkey, a country in which the issue of sustainability is becoming of increasing strategic importance, structuring sustainable-linked operations.