EPISODE 02: Combating Poverty for Sustainable Development: Intesa Sanpaolo Bank's Efforts and Opportunities Ahead

 Abstract:-

The Intesa Sanpaolo Bank understands the significance of combating poverty and has made significant investments in business activities, goods, and services targeted at alleviating poverty. The United Nations Sustainable Development Goals (SDGs), particularly SDG 01, seek to eliminate poverty and provide people with the tools they need to flourish. Offering financial services to neglected groups such as small business owners and contractors and giving microfinance loans to low-income people and small companies in developing markets are among the bank's tactics. The bank works with local organizations to educate and help these borrowers, and it has also created a mobile banking program that gives financial services and resources to underserved groups.

Poverty remains a major problem in today's world, with millions of people globally unable to obtain fundamental necessities such as food, shelter, and healthcare. The Sustainable Development Goals (SDGs) of the United Nations seek to resolve this problem and create a more fair and sustainable society. SDG 01, in particular, is concerned with eliminating poverty and ensuring that all people have access to the tools they require to flourish.

The Intesa Sanpaolo Bank understands the significance of combating poverty and has invested significantly in doing so through its corporate activities, goods, and services. Offering financial services to underserved groups, like small company owners and freelancers, is one of the bank's main strategies. The bank is assisting in the creation of economic chances and advancing financial inclusion by providing these organizations with access to money and financial education.

Furthermore, the bank has created a number of goods and services targeted at alleviating poverty. The bank, for example, provides microfinance loans to low-income people and small companies in emerging nations, enabling them to obtain the capital they require to start or expand their enterprises. In addition, the bank collaborates with local groups to provide instruction and assistance to these borrowers, thereby promoting their success. One example of the bank's attempts to combat poverty is its collaboration with Fondazione Cariplo to develop the "Social Impact Bond" program. This initiative funds social enterprises and nonprofit groups that work to alleviate poverty and other social problems. In addition, the bank has created a mobile banking software that enables neglected groups to access financial services and resources on their mobile devices, increasing their financial knowledge and access to financial resources.

However, combating destitution is not without difficulties. One of the most significant barriers to SDG 01 achievement is a dearth of resources and facilities, especially in emerging nations. Furthermore, poverty is frequently linked to larger societal problems such as wage inequality, a lack of access to education, and bad health outcomes. We must handle these underlying problems in order to combat poverty. Despite these obstacles, there are numerous chances to alleviate poverty and support sustainable development. Mobile banking and microfinance, for example, are making financial services more available to underserved groups. Partnerships between the business sector, non-profit groups, and governments can also help to address poverty and support sustainable development.

To recapitulate, poverty is a major problem affecting people, communities, and society. SDG 01 addresses this problem by eradicating poverty and supporting long-term growth. Through its business activities, goods, and services, Intesa Sanpaolo Bank has made significant efforts to combat poverty by providing economic chances and encouraging financial inclusion. Despite the difficulties of addressing poverty, there are numerous chances to support sustainable development and create a more equitable world.

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

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

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

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

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

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

07.  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).

08.  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 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.