To boost and support the green economy, Intesa Sanpaolo has developed a wide and diversified offer of financing and consulting products, dedicated to all types of customers, in Italy and abroad. Intesa Sanpaolo also oversees environmental and social risks in major projects and is working to implement new criteria to address environmental risks connected to the disbursement of loans.
In 2018 the Group allocated 1,922 million euro to the green economy, corresponding to 3.2% of all Group loans. The commitment of the Intesa Sanpaolo Group to finance projects linked to the green economy will continue in 2019 as well.
Green loan and services
With regard to retail customers, the Bank continued to provide loans and mortgages for environmental purposes in 2018. These loans regarded the replacement of fixtures and high-performance boilers, the renovation of buildings from an energy efficiency perspective, the purchase of environmentally-friendly vehicles and the installation of solar and photovoltaic panels. In addition, some features of the “Domus Mutuo Case prefabbricate in legno" (loan for prefabricated timber-frame houses) have been improved (increase in the maximum duration of the loan and increase in the LTV - value of the loan obtainable in proportion) to meet the needs of customers that are more sensitive to environmental issues, channelling resources into the purchase of wooden buildings that respect specific safety and construction standards. During the year the new Servizio Valorizzazione Immobiliare (Real Estate Enhancement Service), a new service accessory to financing, also aimed at supporting those customers who wish to increase the value of their home through energy requalification. The service is provided through a dedicated platform developed by ISP Casa in collaboration with CasaClima (a specialist in the energy saving sector).
The provision of short and medium-long term loans to support renewable energy projects and energy efficiency interventions for professionals and companies also continued in 2018. Businesses can continue to take advantage of the Energy Business Loan, intended to support investment plans aimed at creating efficient energy production plants, diversifying energy sources and / or rationalizing consumption, as well as Renewable Energy Financing aimed at the construction of new plants for the production of renewable forms of energy other than photovoltaics, such as biomass and small-scale wind energy.
From this point of view, important is the contribution of Mediocredito Italiano the bank of the Group that combines medium-long term loans, leasing and factoring into a single entity. Mediocredito Italiano provides "tailor-made" financial solutions and specialist consultancy services for companies that invest in renewable energy production plants or in energy efficiency processes. Mediocredito Italiano's Desk Energycontinues to focus its attention on the issue of energy efficiency, also by taking part in operational tables to compare with the competent institutional subjects and structuring partnership initiatives with dedicated national funding providers with leading national operators. At the end of 2018, the Mediocredito Italiano portfolio in the green sector amounted to over 1.5 billion euro, equal to about 10% of total medium and long-term loans. The Intesa Sanpaolo Group also continued to pursue its Circular Economy project promoting the awareness and adoption of this model also with the support of the Ellen MacArthur Foundation, the main promoter of the global transition towards the circular economy. The three-year collaboration agreement 2019-2021 with which Intesa Sanpaolo confirms itself as the Global Partner of the Foundation was renewed. Intesa Sanpaolo will continue its commitment to redefine business strategies in an innovative way, ensuring financial support for investments to support the redesign of the industrial system. The transition towards a Circular Economy is pursued also thanks to the contribution of Intesa Sanpaolo Innovation Center, a Group company that oversees all the activities carried out in the Circular Economy area. The 2018 initiatives include the Circular Economy Lab and the Plafond Circular.
As part of non-profit organizations, Banca Prossima continues to support energy efficiency projects with solutions that help customers optimize the cash flows generated by the investment and reduce the costs of financing. At the end of 2018, the total funding related to the agreement with Federesco (National Federation of ESCo) is equal to 1.9 million euro.
In June 2017 Intesa Sanpaolo issued a 500 million euro Green Bond connected with environmental sustainability projects.The commitments undertaken by Intesa Sanpaolo are defined in a set of guidelines (Green Bond Framework) inspired by the Green Bond Principles, a voluntary protocol that favours the transparency of the operation and involves the close monitoring of the environmental projects that receive the funds. The compliance of the framework with these principles was verified by an external ESG research and analysis company.
In June 2018, following the annual drafting commitment, Intesa Sanpaolo published its first Green Bond Report on the use of Green Bond proceeds and the related environmental benefits.
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Our commitment to the environment (Italian version)