GlobalData offers a comprehensive analysis of Intesa, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Intesa’s ESG performance. GlobalData’s company profile on Intesa offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Intesa, the only Italian bank listed in the Dow Jones Sustainability Indices, has committed to achieving net-zero emissions by 2050 for all its main business lines, including its own emissions, lending and investment portfolios, asset management, and insurance divisions. Intesa's latest filings mentioned the keywords 'Emissions' and 'Circular Economy' most number of times in relation to 'Net Zero'.
In 2022, the company reported Scope 1 emissions at 59,030 tCO2e, Scope 2 emissions (market-based) at 16,838 tCO2e, and Scope 2 emissions (location-based) at 110,075 tCO2e. The bank has set intermediate net-zero aligned reduction targets for 2030 for the Oil&Gas, Power Generation, Automotive, and Coal mining sectors. Intesa has also committed to reaching carbon neutrality and 100% of energy purchased from renewable sources by 2030. In relation to Green Mortgages and Green Loans, the Bank supports Forestami, an urban forestation project that aims to plant 3 million new trees by 2030 in the territory of the Metropolitan City of Milan, by earmarking a donation to the project for each Green Mortgage and Green Loan subscribed by the bank’s customers: €110,000 were donated in the first months of 2022.
Intesa has disbursed around €6.3 billion for the green economy, circular economy, and green transition in 2022. The bank has provided €3.1 billion in new loans to the Circular Economy and around €2.2 billion in S-Loans, an innovative financing solution aimed at financing SMEs sustainable growth projects. Intesa has also announced a total of €76 billion to finance green and circular economy and the ecological transition and €12 billion to finance green lending to individuals, mainly mortgages, within a total of over €400 billion of new lending available over the National Recovery and Resilience Plan horizon.
Intesa has taken steps to reduce emissions, including investments in technologies not accountable with KPIs in other Circular Economy criteria. The bank has also increased the use of recycled packaging, recovered materials, and biobased/recycled materials utilization. Intesa has produced fully recyclable and compostable goods and re-inputted waste and by-products in production processes. The bank has also saved or recovered water and increased the utilization of renewables energies.
In conclusion, Intesa's choice to work towards the "Net-Zero" goal by 2050 demonstrates its dedication to advancing environmental sustainability. In terms of environmental and social sustainability, the bank has a significant impact. It supports the fight against climate change, aids in the transition to a low-carbon economy, and provides support towards a sustainable economy through specialised financial products and services as well as client engagement and training initiatives./p>