Climate Report

Intesa Sanpaolo published its first TCFD Report in the fourth quarter of 2021, a document aimed at disclosing climate-related information in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

The recommendations are divided into four pillars: "Governance, describes the governance of the organization with regard to climate-related risks and opportunities"; "Company strategy, discloses the actual and potential impacts of climate-related risks and opportunities on the organization's activities, strategy and financial planning"; "Risk Management, describes how the organization identifies, assesses and manages climate-related risks"; "Metrics and Targets, discloses the metrics and objectives used to assess and manage relevant climate-related risks and opportunities."  This includes, in particular, monitoring the 2030 decarbonisation targets for its own operations and portfolio, as well as the relevant sectoral transition plans.’

In October 2023, following the completion of its mandate, the TCFD was formally dissolved and the Financial Stability Board (FSB) mandated the IFRS Foundation to continue monitoring progress in climate-related corporate disclosures. The TCFD recommendations have been fully incorporated into the International Sustainability Standards Board (ISSB) standards of the IFRS Foundation. In this context, the report has been renamed Climate Report, keeping as a reference the recommendations of the Task Force on Climate-related Financial Disclosures.

The 2025 edition was carried out in continuity with previous editions and is part of the Group's sustainability reporting set.

The "Own operations indicators" and "Target Setting on Lending Activities: Annual Reporting of Estimated Emissions" sections are subject to limited assurance by third parties.