INTESA SANPAOLO

A leading banking group like Intesa Sanpaolo has a significant impact on the context in which it operates. It is a Group’s responsibility to create long term value for the Bank and its people, its customers, the community and the environment, also in relation to its role in the transition to a sustainable economy. For this, sustainability qualifies all the Group's activities: customer relations, product development, operational and people management, relations with the community and institutions. 

In its path toward sustainability, Intesa Sanpaolo has joined all the main United Nations initiatives relating to the financial sector in the sustainability area: Global Compact, Principles for Responsible Banking, Principles for Responsible Investment, Principles for Sustainable Insurance. 
In 2021 it formalised the commitment to the goal of zero net emissions by 2050, by joining all the Net-Zero alliances promoted by the UNEP Finance Initiative. 

In its 2022-2025 Business Plan, Intesa Sanpaolo reinforced its commitment to sustainability, as for the first time a specific strategic pillar is entirely dedicated to ESG, with the aim to supports the creation of sustainable value, while, at the same time, strengthening the Intesa Sanpaolo’s leadership in the social and environmental areas.

With regard to the ESG pillar, the Group has outlined a series of objectives divided into 6 areas. Following the description of the main targets of these areas and the main results for each one, as at 31 December 2023.

Support to address social needs

Expansion of the food and shelter programme for people in need carrying on around 50 million interventions to distribute meals, beds, medicines and clothes in 2022-2025 horizon. In period 2022-2023, more than 36.8 million interventions carried out, providing ~30 million meals, ~ 3.3 million beds, ~3.2 million medicines and 446,000 articles of clothing.

Fostering youth education and employability through the launch of programmes for more than 3,000 young people and involvement of more than 4,000 schools and universities in inclusive education programs in the Plan horizon. In 2023 over 6,300 students aged 18-29 applied for the program Giovani e Lavoro, over 3,900 young people trained/in training since 2019. Intesa Sanpaolo is the main sponsor of the Generation4Universities project, developed by Generation and McKinsey & Company, aimed at helping students in their last year of university to embark on successful professional careers. The programme that finished in July 2022 involved ~100 students from 36 universities and 31 leading Italian companies as potential employers. 

Promotion of social housing, one of the largest programmes in Italy: development of 6,000-8,000 social housing units for young people and the elderly in the Plan horizon. New partnerships were launched with Coima and Redo to give new impetus to MilanoSesto, the biggest urban regeneration project in Italy. Financial and advisory support to the Coima, Covivio and Prada consortium for the project of the former Porta Romana railway station where the Olympic Village will be built.

Strong focus on financial inclusion: new loans to support non-profit businesses and vulnerable and young people for €25bn during the Plan.

Social lending: in 2023 €5.5bn disbursed (excluding loans linked to the COVID-19 emergency and lending for urban regeneration purposes) equal to 9.1% of total loans, of which €252m loans granted to support non-profit organisations. 

Fund for Impact: loans made available to support the needs of people and families to ensure wider and more sustainable access to credit, with dedicated programs. 71 million euro made available in 2023 to support the needs of individuals and households to ensure wider and more sustainable access to credit. The main initiatives worth highlighting include such as: “Per Merito” (unsecured credit line dedicated to all university students resident in Italy, studying in Italy or abroad), “Mamma@work” (a loan to reconcile motherhood with work in the first years of childrens life), “Per Esempio”– intended for volunteers taking part in Civil Service; “per Crescere”, for parents with school-age children, and“per avere Cura”, intended for households with members that are not self-sufficient.

Lending for Urban Regeneration: In 2023, commitments were made for 639 million euro of new investments in sustainable housing, service and infrastructure initiatives, in addition to the most important urban regeneration initiatives underway in Italy (over 1.2 billion euro since 2022).

Continuous commitment to culture: 

• Expansion of the exhibition spaces of Gallerie d’Italia: opened two new museums in 2022 in Turin and Naples, bringing the number of museum venues to four.
• ~680,000 visitors to the Gallerie d’Italia in 2023, 11 temporary exhibition projects, 3,670 educational workshops with 83,000 participating students, 520 guided tours for visitors with special needs with 6,620 participants.
• Contribution to the protection of the country’s artistic heritage with Restituzioni Program. 363 works of art from the collections owned by the Bank on loan for 73 temporary exhibitions in national and international venues.
• Partnership with museums and national and international public/private institutions and sponsorship of cultural activities and events: monetary contribution of over €42m to Art and Culture. Partnerships with national institutions and museums: main partner of Bergamo-Brescia Italian Capital of Culture 2023; projects with Banking Foundations; international trade fairs such as Miart in Milan, Artissima and Salone del Libro in Turin; collaboration with museums such as Palazzo Strozzi in Florence, Pinacoteca di Brera in Milan, and Museo Archeologico Nazionale in Naples.
  • In February 2022, 2030 targets set for 4 high-emitting sectors (Oil & Gas, Power Generation, Automotive and Coal Mining – over 60% of financed emissions for NFC in NZBA sectors) published in the 2022-2025 Business Plan. 

Promoting innovation: with the launch of around 800 projects in 2022-2025: 204 innovation projects launched in 2023. 

Initiatives for startup growth and the development of innovation ecosystems. 6 cities (Turin, Florence, Naples, Venice, Ancona and Taranto) where initiatives are currently underway aimed at the growth of startups and the development of innovation ecosystems.

Development of multi-disciplinary applied research projects: 12 projects in progress as at 31.12.2023 (in the neuroscience, A.I. and robotics field), of which 16 ongoing. 

Business transformation: 43 companies involved in open innovation programs. 

Diffusion of innovation mindset/culture: 36 positioning and match-making events were held in 2023, with >3,000 participants (from 2022, 68 events with >5,200 participants)

Support to high-potential startups through non-financial services (e.g. acceleration programs) and the connection/support of venture capital funds, also thanks to NEVA SGR: ~€100m of investments in start-ups in 2022-2025.  In 2023 ~31 million euro of investments in startups, >85 million euro from 2022. Presentation of the new Neva II Global and Neva II Europe funds that will be launched in the second half of 2024

Creation of a new Digital Bank (Isybank) to effectively serve a significant portion of Intesa Sanpaolo customers who do not visit branches.

Strong focus on climate and environmental initiatives

Carbon neutrality of own emissions by 2030. Net Zero by 2050 with regard to both its own emissions and those relating to the loan and investment portfolios, asset management and the insurance business with participation in the Net-Zero Banking Alliance (NZBA), the Net-Zero Asset Managers Initiative (NZAMI), the Net-Zero Asset Owner Alliance (NZAOA) and the Net-Zero Insurance Alliance (NZIA). Following the Group’s adherence to Net-Zero alliances:

• In October 2022, Eurizon Capital SGR, Fideuram Asset Management SGR, Fideuram Asset Management Ireland and the Intesa Sanpaolo Vita Insurance Group published their first interim targets. In 2023 the target setting ctivities for new sectors continued, as did the processing of data and documentation to be presented by March 2024 for SBTi validation.
• In May 2023, Intesa Sanpaolo Vita Insurance Group presented its annual report on its progress at NZAOA. 
• In September 2023, Eurizon Capital SGR, Fideuram Asset Management SGR and Fideuram Asset Management Ireland completed the first annual report on their Net Zero progress via the PRI platform.

100% renewable electricity purchased at Group level in 2030. Renewable electricity purchased versus total purchases: ~90% in 2023.

Commitment to restoring and increasing natural capital with Think Forestry, the program for reforestation and preservation of natural capital.

Supporting clients through the ESG/climate transition

New lending to support the ecological transition. ~€44.9bn disbursed in 2021 and 2023 out of the €76bn in new lending available for the green economy, circular economy and green transition in relation to the Mission 2 of the “2021-2026 National Resilience and Recovery Plan".

Customer support through the ESG/climate transition. In 2023, ~3.7 billion euro of environmental sustainability loans were disbursed, equal to 6.2% of all credit issued. The main products included Green mortgages, which accounted for ~1.7 billion euro (over 4.3 billion euro in 2022-2023).

€8bn circular economy credit facility announced in the 2022-2025 Business Plan; in 2023, €7.2bn disbursed (of which €4.8bn related to green criteria); renewed partnership with Ellen MacArthur Foundation and with Cariplo Factory on Circular Economy Lab.

Supporting the sustainable economy. S-Loan product range dedicated to SMEs to finance projects aimed at improving their sustainability profile. ~€1.7bn in 2023 (~€5.2bn granted since launch in July 2020).  

Support to SMEs/Corporate customers in achieving their sustainability objectives by increasing the specialised advisory services provided through the activation of at least one ESG Workshop in each Regional Governance Centre by 2025 and ~100 dedicated ESG specialists. Activated 13 ESG Laboratories (in Venice, Padua, Brescia, Bergamo, Cuneo, Bari-Taranto, Rome and Naples-Palermo, Milan, Turin, Florence), a physical and virtual meeting point to support SMEs in approaching sustainability, and evolution of the advisory services offered by partners (e.g. Circularity, Nativa, CE Lab and others).

Strengthening of the ESG offering in Asset management (Eurizon perimeter – funds pursuant to art. 8 and 9 SFDR 2088): growth of assets under management invested in ESG products to €156bn euro in 2025 from €110bn in 2021, increasing their level as a proportion of total assets under management from 46% to 60%. In 2023:

• Eurizon offers a diverse range of 306 products in all the asset classes that include a focus on environmental or social issues, or have sustainable investment objectives, classified according to Articles 8 and 9 of the Sustainable Finance Disclosure Regulation - SFDR, with around €149bn euro of assets representing around 73.3% of the total assets of the funds managed.
• Eurizon conducted 592 engagement activities (with 343 companies), of which 228 on ESG issues (around 40% of the total engagements carried out in the period).
• Fideuram offers 97 funds classified pursuant to articles 8 and 9 of the SFDR for a total of €33.3 billion in assets (71% of the total assets of managed funds). 
• The figure of “ESG Ambassador” was established: for the first phase, 34 Private Bankers were selected from among the approximately 6,000 members of the Fideuram and Intesa Sanpaolo Private Banking Networks based on their attention to ESG issues – with the aim of promoting the culture of sustainability in the areas they belong to.