Objectives
The 2026-2029 Business Plan the Plan confirms and envisages strong and sustainable value creation and distribution.
Intesa Sanpaolo holds a world-class position in Social Impact while supporting clients in the sustainable transition declined in:
- maintaining a world-class position in Social Impact, with a contribution of around €1 billion in 2026-2029 (1), to fight poverty and reduce inequalities and around €25 billion in cumulative flows for social lending over the four-year period;
- supporting clients in the sustainable transition, with around €87 billion in cumulative flows for medium/long-term new lending in 2026-2029 (including environmental, governance and other sustainable activities);
- confirming commitments to decarbonisation, specifically – in relation to 2050 net- zero – the 2030 targets for financed and own emissions, asset management and insurance business
Furthermore it is provided a continuous commitment to preserve and promote our cultural heritage and to foster innovation.
(1) €1bn already deployed in 2023-2025 as a cost for the Bank (including €0.35bn structure costs)
Net-Zero by 2050 and 2030 targets confirmed for financed emissions, asset management, insurance and own emissions
Asset management portfolio
Commitments reaffirmed following the relaunch of the NZAMI, with an emphasis on stewardship activities strategic for managing climate and sustainability risks in the long term:
- Confirmed decarbonisation level of Reference Portfolio: ambition -50% by 2030 (1)
- Enhancement of strategic levers for engagement and stewardship activities (2)
- Evolution of Climate Solutions targets (3) (investments in green/sustainability bonds)
Insurance portfolio
- Confirmed 2030 targets set for Direct Investments (listed equity and publicly traded corporate bonds), with a 50% Carbon Intensity reduction (4)
- Continuous engagement with the top 20 issuers in the Direct Investments portfolio (5)
Own emissions
- Confirmed 2030 target with a 53% reduction in scope 1+2 absolute emissions (6)
- 100% of electricity purchased directly from renewable sources at Group level in 2030, where available.
Lending commitments
| Sectorial targets | Metrics | 2030 Target (9) (% vs baseline) |
| Agricolture (Primary farmer) | tCO2eq/t/€m | 641 (-11%) |
| Aluminium | tCO2eq/t | 4.31 (-10%) |
| Automotive | gCO2eq/vkm | 100 (-48%) |
| Cement | tCO2eq/t | 0.50 (-23%) |
| Coal mining (8) | Exposure in €bn | Already zeroed |
| Commercial RE | kgCO2eq/m2 | 22.11 (-49%) |
| Iron&Steel | tCO2/t | 0.81 (-23%) |
| Oil&Gas | gCO2eq/MJ | 52-58 (-14%) |
| Power Generation | kgCO2eq/MWh | 110 (-46%) |
| Residential RE | kgCO2eq/m2 | 19.26 (-36%) |
SBTi (7): confirmed SBTi Group targets as validated in January 2025
(1) Scope 1 + Scope 2 reduction vs 2019 baseline
(2) Focus on climate change mitigation, biodiversity protection, human rights in supply chains, strengthening of governance practices. Targets: companies to be engaged covering 85% and 90% of financed emissions by 2029 and 2030, respectively, in the portfolio in scope. AGM participation: minimum 80% of votable AGM in the portfolio
(3) Evolution of Climate Solutions Targets (8% of the Asset Management Division AUM invested in Fixed income)
(4) Reduction vs 2021 baseline. Carbon Intensity: tons CO2 e/$M EVIC. (EVIC=Enterprise Value Including Cash)
(5) Accounting for about 70% of the relative emissions
(6) Reduction vs 2019 baseline. Validated 1.5°C aligned by SBTi. Carbon neutrality in 2030
(7) Science Based Targets initiative, reference entity for corporates and financial institutions decarbonisation efforts
(8) Phased out in 2025 as per exclusion policy
(9) Targets may be adjusted in relation to the shift in reference scenarios
Last updated 23 February 2022 at 11:05:30
