Sustainability-conscious investments

Through their investment policies, large institutional investors and credit institutions increasingly have the ability to positively influence the development of corporate social and environmental responsibility.

The Intesa Sanpaolo Group, a conscious interpreter of the change taking place, has integrated ESG factors into its investment process in the belief that these elements, in addition to promoting sustainable economic and social development, can contribute positively to the financial results of customer portfolios, while reducing their risks. This commitment also aims to avoid potential negative impacts on the environment, the economy and people, including human rights, caused by a failure to consider the principles of sustainability in connection with insurance and investment services.

The Group considers it essential to maintain a continuous dialogue with customers, as a fundamental starting point for offering advice, services and products, in the knowledge that it plays a fundamental role in assisting investments, prudent management of savings and responsible lending, as well as in offering insurance protection.

2024 Consolidated Sustainability Statement

The European Union has adopted a series of measures to direct capital flows towards sustainability-conscious investments, to integrate ESG aspects into risk management and to promote transparency and long-term vision in economic and financial activity, such as EU Regulation 2019/2088 (Sustainable Finance Disclosure Regulation), EU Regulation 2020/852 (so-called Sustainable Finance Disclosure Regulation). Taxonomy Regulation), EU Delegated Regulation 2021/1253 on the integration of clients' sustainability preferences by investment firms, EU Delegated Regulation 2021/1269 on the integration of sustainability factors into product governance requirements, and Delegated Regulation (EU) 2022/1288 on the content and presentation of sustainability information for investments. 

This represents a further incentive to strengthen the Group's commitment to being a responsible player of change at a global level, also through the increasingly articulated offer of sustainable investments and the availability of insurance solutions for customer protection and enhanced ESG advice to promote greater customer awareness on the subject, in line with European plans and regulations.

In the 2022-2025 Business Plan, the Group stands as a leader in Wealth Management, Protection & Advisory, with a strong commitment to ESG; in particular, it stated among its objectives the expansion of the ESG offer in asset management, the further development of Eurizon's proprietary ESG scoring with the extension of its use to new asset classes and the development by Fideuram of advisory services with an ESG focus, in the insurance sector, the Intesa Sanpaolo Group is committed to the development of a dedicated non-life ESG offer and the enrichment of the ESG/climate offer within the Group's Life range Intesa Sanpaolo Vita Insurance.

In such a complex context, the Intesa Sanpaolo Group confirmed its leadership in sustainability-conscious investments in 2023 as well. The Group has reached a total of over 400 funds that promote, among other characteristics, environmental and/or social ones, or that have sustainable investment objectives, classified pursuant to art. 8 and 9 of the SFDR, with assets of over €200 billion (over 400 funds with assets of over €182 billion in 2023).

The Group has adhered to the Net-Zero Asset Managers Initiative (NZAMI)[1] through Eurizon Capital SGR, Fideuram Asset Management SGR and Fideuram Asset Management Ireland, and trough Intesa Sanpaolo Assicurazioni to the Net-Zero Asset Owner Alliance (NZAOA) and to the Forum for Insurance Transition to Net-Zero (FIT).

Following joining the Net Zero initiatives at the end of 2021, in 2022, Eurizon Capital SGR, Fideuram Asset Management SGR and Fideuram Asset Management Ireland dac determined their respective targets, approved by the individual Boards of Directors, following the publication - in the 2022-2025 Business Plan - of the 2030 targets for reducing financed emissions relating to the main emission-intensive sectors, attributable to membership of the Net Zero Banking Alliance.

The offering portfolio therefore includes funds that apply selection criteria consistent with the United Nations Principles for Sustainable Investments, with the aim of activating sustainability dynamics in companies and in customer choices.

The Intesa Sanpaolo Group is aware that it is also having a significant impact on this front. In particular, in providing advice, and in the context of insurance distribution, the Bank plays an important role in informing customers about financial products with sustainable investment characteristics or objectives.

This includes disclosures on adverse impacts on sustainability factors and sustainability risk management in the provision of investment advisory or insurance distribution services.

[1] On 13 January 2025, NZAMI launched a review of the initiative to ensure its suitability for the new global context. During this review phase, the initiative will suspend signatories' monitoring of implementation and reporting.

EURIZON CAPITAL SGR

Eurizon Capital, offers investors a wide and diversified range of funds that integrate sustainability risks into investment choices, and at the end of 2024 these products reached €156.6 billion in Assets under Management (AuM), up from €110 billion in 2021, and set at €156 billion by 2025. The share of AuM allocated to SFDR funds referred to in Articles 8 and 9 of the total assets under management by Eurizon grew from 46% in 2021 to 76% in 2024, exceeding the target of 60% set for 2025.

With the signing in 2015 of the PRI (Principle for Responsible Investments) of the United Nations, Eurizon Capital has shown over the years particular attention to the policies implemented by the issuers in which it invests, in the belief that corporate governance policies and practices, which incorporate environmental aspects, and correct governance, are able to create value for all stakeholders in the long term.

Eurizon is also a signatory of the CDP and in 2014 has adhered to the Italian Stewardship Principles which define the procedures for exercising administrative and voting rights in listed companies.

In 2024, most of the UCITS funds launched by Eurizon Capital SGR S.p.A., Eurizon Capital SA and Epsilon SGR S.p.A. integrated ESG factors into the analysis, selection and monitoring of investments in line with the strategies established within Eurizon's Sustainability Policy. These strategies are based on the following main criteria: negative screening, positive screening and active ownership - engagement.

With reference to institutional mandates, the investment process takes into account the integration of ESG criteria into investment choices, in accordance with the provisions of Regulation (EU) 2019/2088. Currently, all institutional mandates meet the exclusion criteria.

For its adherence to the Italian Stewardship Principles, Eurizon pays particular attention to the policies implemented by its issuers. In 2024, Eurizon conducted a total of 837 engagement activities involving 484 issuers, 37% of which concerned sustainability issues. In May 2024, Eurizon published the Green Bonds Impact Report relating to the Eurizon Fund Absolute and Green Bonds and Eurizon Fund Green Euro Credit products. The latter highlights that for every million euros invested, the following results were obtained:

Eurizon Fund Absolute Green Bonds, 901 megawatt/hour of renewable energy produced; 521,343 litres of water saved or purified and 614 tonnes of CO2 reduced.
Eurizon Fund Green Euro Credit, 1,177 megawatt/hour of renewable energy produced, 1,016,252 l litres of water saved or purified and reduction of 418 tonnes of CO2.

Fideuram Intesa Sanpaolo Private Banking

Fideuram Intesa Sanpaolo Private Banking considers the integration of environmental, social and governance factors into its business model to be of fundamental importance, in the belief that these elements, in addition to promoting sustainable economic and social development, can contribute positively to the financial results of customers' portfolios while reducing their risks.

It has adopted policies on the integration of sustainability risks and provides periodic information on the principal adverse impacts on sustainability factors related to the selection of issuers, the definition of the catalogue of financial products and the provision of advisory and insurance distribution services.

As far as engagement is concerned, in 2023 Fideuram Asset Management SGR and Fideuram Asset Management (Ireland) dac carried out 112 and 98 activities respectively, of which 78 and 82 on ESG issues (69.6% and 83.7%).

To ensure the diffusion of ESG products among clients, the Private Banking division has set itself progressively more challenging targets in the period 2022-2025 both with respect to the number of asset management products classified pursuant to Articles 8 and 9 of the total products made available and with reference to the number of new asset management products classified pursuant to Articles 8 and 9 out of the total new products made available.

Also in 2024, the new offering was strongly focused on solutions that reflect ESG criteria, with more than 85% of products under Articles 8 and 9 of the SFDR out of the total number of new products. The percentage of AuM products classified under Articles 8 and 9 of the SFDR is 78% of total AuM, exceeding the Plan target of 70%.

Last updated 22 April 2025 at 09:29:06