Environment

We are committed to limiting our environmental impact, reducing our ecological footprint in terms of greenhouse gases emissions and containing our consumption of raw materials.

We have embarked on a path of self-analysis aimed at setting new environmental and climate targets and continuing to monitor our emissions.

Environmental Policy

The Environmental Policy identifies the the Bank's approach in the environmental themes management. The document outlines in general terms the measures and the interventions the Group intends to take in relation to the environmental issues. The Group considers the environmental impacts as a relevant topic and consequently aims to reduce the effects on the environment generated by the consumption of resources, the generation of waste and other activities with direct impact and also to manage the effects arising from activities with indirect impact, related to products and services for the customers.

MANAGING DIRECT IMPACTS

Improvement of energy-consuming systems
Managing paper consumption
Attention to proper waste collection and disposal
Use of renewable energy
Use of goods and services with less environmental impact
Raising awareness of proper use of water and energy
Promoting sustainable mobility

MANAGING INDIRECT IMPACTS

Activities oriented towards the Community and the employees: training, information and participation in initiatives
Customer-oriented activities: raising awareness and offering more sustainable products and services
Supplier-oriented activities: sustainable procurement management and selection

Initiatives

Bonus
ESG risks

Managing ESG risks, particularly climate and environmental risks, is a challenge for the financial sector, driven by growing regulatory pressure and the increasing occurrence of extreme weather events.

ESG Risks Inventory

In 2021, we updated our ESG Risk Inventory to identify possible negative impacts on the company’s business from ESG factors.

ESG Heat Map

We have developed a ‘sector risk matrix’ (so-called Heat Map), i.e. a tool to identify the potential exposure of our counterparties to ESG risk factors.

Climate stress test

We participate in the exercise (so-called stress test) initiated by the European Central Bank starting in early 2022 to assess the preparedness of the banking sector to cope with economic and financial shocks resulting from climate risk (physical and transition).

The figure represents the dangerousness, for areas of our country, of certain climaterelated phenomena: impacts on economic activities, as well as on the value of real estate, can no longer be overlooked by the financial sector.

Transition risk

Financial loss directly or indirectly related to the transition to a lowcarbon 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.
Calculating emissions

We calculated the Scope 3 emissions of a credit portfolio for counterparties belonging to the most polluting sectors

OVER 56 MILLION TONNES of CO₂ EQ
Investments

Our contribution in 2021

Percentage of assets subject to environmental or social screening