Episode 01: Intesa Sanpaolo Bank's sustainability strategy

 Abstract:-

One of Europe's biggest banking groups, Intesa Sanpaolo, is dedicated to sustainable development and actively works to achieve the United Nations' Sustainable Development Goals (SDGs) through its business operations, products and services, and stakeholder relationships. The bank aims for openness, accountability, and responsible management and has four sustainability pillars: responsible finance, social effect, environmental sustainability, and governance and ethics. Intesa Sanpaolo is committed to building a more sustainable and equitable society through its strategy for sustainable development.

Introduction:-

Intesa Sanpaolo is an Italian banking group and one of Europe's largest. Banca Intesa and Sanpaolo IMI, two major Italian banks, merged to establish it in 2007. Intesa Sanpaolo offers a comprehensive variety of banking and financial services to people, corporations, and organizations through a network of over 4,500 branches and 8.3 million customers in Italy alone. The bank operates in over 40 countries worldwide, with a substantial presence in Central and Eastern Europe. Intesa Sanpaolo is dedicated to sustainable development and works to meet the United Nations' Sustainable Development Goals through its business operations, goods and services, and stakeholder relationships.

The concept of sustainable development and the SDGs:-

Sustainable development is a method of economic growth that balances social, economic, and environmental considerations in order to fulfill current requirements without jeopardizing future generations. In 2015, the United Nations developed the Sustainable Development Goals (SDGs), a collection of 17 objectives that target a wide range of concerns such as poverty, health, education, and climate change. The SDGs serve as a framework for achieving a more sustainable and equitable world, encouraging governments, civil society, and the commercial sector to collaborate.

Overview of Intesa Sanpaolo Bank and its commitment to sustainability:-

Intesa Sanpaolo Bank is committed to long-term development, with four pillars in mind: responsible banking, social impact, environmental sustainability, and governance and ethics. They promote responsible lending and investing, as well as financial inclusion and customer education. The social impact programs of the bank target societal issues such as poverty and inequality. Environmental sustainability operations seek to reduce the bank's carbon impact while also supporting the circular economy. The governance and ethical practices of Intesa Sanpaolo Bank strive for transparency, accountability, and responsible management. Many global ratings, including the Dow Jones Sustainability Index and the Carbon Disclosure Project, have recognized the bank for its environmental achievements. Generally, the bank recognizes the significance of sustainable development and is dedicated to helping to create a more sustainable future.

Intesa Sanpaolo’s business operations, products, and services contribute to sustainable development:-

The responsible loans and investments of Intesa Sanpaolo Bank encourage sustainable development while limiting negative repercussions on society and the environment. It provides green loans and finance for environmentally friendly initiatives, and its policies promote responsible lending and investing. In addition, the bank offers financial education and assistance to encourage financial literacy and inclusion. Through its own actions, such as promoting the circular economy, sustainable buying, and decreasing its carbon footprint, Intesa Sanpaolo Bank is dedicated to reducing its environmental effect and furthering sustainability. Its business methods, goods, and services illustrate its dedication to making the world a more sustainable place.

Intesa Sanpaolo’s approach to measuring and reporting its sustainability performance:-

The sustainability performance of Intesa Sanpaolo Bank is evaluated using both quantitative and qualitative metrics. The bank establishes precise objectives for each sustainability pillar and uses key performance indicators to monitor success (KPIs). For instance, the bank monitors its energy use, greenhouse gas emissions, and carbon footprint to assess its environmental effect. The bank evaluates its social effect and governance processes via surveys and stakeholder involvement.

Intesa Sanpaolo Bank reports on both its sustainability performance and engages in external reporting and transparency. The bank participates in a number of sustainability rankings and indices, including the CDP, the FTSE4Good Index, and the Dow Jones Sustainability Index (Carbon Disclosure Project). The bank also regularly notifies its stakeholders, such as investors, customers, workers, and communities, of its performance and advancement in sustainability. The strategy taken by Intesa Sanpaolo Bank to assess and disclose its sustainability performance is thorough and open. The bank is dedicated to advancing its sustainability practices and understands the value of monitoring and reporting its sustainability performance to its stakeholders and the general public.

References and resources to learn more about the SDGs and Intesa Sanpaolo’s key sustainability initiatives and achievements:-

01.  The 17 goals | sustainable development (no date) United Nations. United Nations. Available at: https://sdgs.un.org/goals (Accessed: February 19, 2023).

02.  Loans: IMI Intesa Sanpaolo (no date) Homepage. Available at: https://imi.intesasanpaolo.com/en/products-and-services/sustainable-solutions/loans/ (Accessed: February 19, 2023).

03.  Sustainability governance: Intesa Sanpaolo (no date) Intesa Sanpaolo Group. Available at: https://group.intesasanpaolo.com/en/sustainability4_new/sustainability-governance (Accessed: February 19, 2023).

04.  Sustainability: Intesa Sanpaolo (no date) Intesa Sanpaolo Group. Available at: https://group.intesasanpaolo.com/en/sustainability. (Accessed: February 19, 2023).

05.  Sustainability: Intesa Sanpaolo (2021) Intesa Sanpaolo Group. Available at: https://group.intesasanpaolo.com/en/sustainability (Accessed: February 19, 2023).

06.  Take action for the sustainable development goals - united nations sustainable development (2020) United Nations. United Nations. Available at: https://www.un.org/sustainabledevelopment/sustainable-development-goals/ (Accessed: February 19, 2023).

07.  2021: Intesa Sanpaolo (2021) Intesa Sanpaolo Group. Available at: https://group.intesasanpaolo.com/en/newsroom/press-releases/2021 (Accessed: February 19, 2023). 

Thanks for reading this post on Intesa Sanpaolo Bank's sustainability strategy. If you're interested in learning more about Intesa Sanpaolo Bank's contribution towards SDGs, be sure to check out our upcoming posts, where we'll be exploring SDGs. Stay tuned for more insights into  Intesa Sanpaolo Bank's sustainability strategy and how we can all work towards a more sustainable future.