We are aware of the need to take concrete actions to help fight climate change and protect the environment, as essential preconditions for long-term sustainable development.

Therefore, in line with our Environmental Policy, we have set ourselves a series of climate-environmental objectives to contribute to a green transition, developing coherent and increasingly ambitious actions.


Our first climate targets

The Environmental Policy identifies the Bank's approach to managing environmental issues, illustrating the measures and interventions it intends to adopt over time. The Group considers environmental impacts as a relevant area and therefore intends to:

  • reduce the effects on the environment generated by the consumption of resources, the production of waste and other direct impact activities
  • manage the effects deriving from indirect impact activities, related to products and services for customers.

As evidence of our commitment, we support the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) through the publication of the first TCFD Report, a document that communicates financial information relating to climate in a coherent and transparent way.


  • TCFD Report

    We support the Recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), publishing our first Report dedicated to climate strategy and the management of climate and environmental (C&E) risks.

    The TCFD Report aims to consolidate our commitment, clearly presenting the roles and responsibilities on climate-environmental issues, the definition of an action programme to integrate C&E risks into business planning, the methods of identifying, assessing and managing these risks and, finally, the objectives and metrics to measure the effectiveness of our actions.


    TCFD Report



  • Climate and environmental risks

    What are C&E risks?

    Climate-environmental risks are to be understood as the financial risks generated by the Bank's exposures to counterparties that suffer impacts deriving from climate change and environmental degradation (such as air pollution, water pollution, scarcity of fresh water, soil contamination, biodiversity loss and deforestation), as they are exposed to extreme weather condition or possible changes in their asset value. Managing these risks represents a challenge for the financial sector, stimulated by growing regulatory pressure and by the increasingly widespread occurrence of extreme weather events.

    There are two categories of C&E risks: physical and transition risks.

    Transition risk

    Financial loss directly or indirectly related to the transition to a low-carbon and more environmentally sustainable economy.

    Physical risk

    Financial impact of climate to frequent extreme weather events (‘acute’ physical risk) and to gradual climate changes (‘chronic’ physical risk), as well as environmental degradation, air, water and soil pollution, water stress, loss of biodiversity and deforestation.


    Climate and environmental risks

    The Bank has adopted a specific “Climate and environmental risks general Regulation " to formalize the governance, management and control of C&E risks.


    C&E risks



  • Calculation of emissions

    We calculated the emissions deriving from the corporate loan portfolio to understand the carbon footprint of our loans.

    emissioni ENG


    As of 31.12.22


    Rischio emissioni

    Sectors financed with the greatest emissive intensity



  • Green Financing

    7 Green financing lines supporting environmental investments.


    Green financing
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Environmental Policy 1022.93 KB