Sustainable investments in Banca Popolare di Sondrio

Banca Popolare di Sondrio Group, aware of the role of the financial sector in supporting a transition towards a more sustainable economy, has integrated ESG factors within its investment processes by making an adequate set of information available to its stakeholders.

ESG Investment Policy

In line with the commitments made in the 2022-2025 Business Plan, Banca Popolare Sondrio Group has adopted an ESG Investment Policy which identifies the methods of integrating environmental, social and governance factors into investment processes.

The document regulates four application areas: asset management, advisory, property portfolio and the issuance of debt securities with sustainability characteristics.


Asset management, Advisory, Property portfolio, Issuance of debt securities with sustainability characteristics


Specifically, the main sustainability strategies implemented are:

  • General exclusion and positive selection processes

    Esclusione-aziende 1x

    Exclusion of companies involved in:

    • the sector of controversial weapons
    • relation to violation of the Global Compact principles
    • relation to violations of the OECD guidelines for multinationals

    The document also provides the possibility of identifying further controversial sectors on which exclusion processes are implemented with appropriate thresholds.


    Positive selection, aimed at encouraging the inflow of capital into companies with best practices in the sustainability field.

  • Specific integration methods for different areas

    Gestioni patrimoniali 1x

    Asset management (art.8 of the SFDR Lines)

    • Minimum % invested in UCITS that promote sustainability characteristics
    • Strengthened integration strategies (e.g. best in class, thematic investments, engagement, impact investing)

    Gestioni patrimoniali 1x


    • Integration of sustainability factors into product governance processes
    • Screening of products included in the advice catalogue

    Esclusione-aziende 1x

    Property portfolio management

    • Targets definition relating to the percentage of bond segment with sustainability characteristics
    • C&E risk analysis

    Gestioni patrimoniali 1x

    ESG Bond Emissions

    • BPS' Green Bonds
    • Renewed commitment to new issues in line with international best practices

These strategies, except for non-conventional weapons sector concerning anti-personnel mines and cluster munitions, are not applicable to the management lines classified art. 6 of the SFDR where the Asset Manager can identify, upon customer request, a broader investable universe.

Policy’s Governance

The ESG Investment Policy has a solid Governance structure in order to ensure adequate oversight and implementation. It is approved by the Board of Directors of the Parent Company and it is composed of:

Board committees, Managerial committees, Operational structures

Disclosure in accordance with Regulation (EU) 2019/2088

Sustainable future

Finance serving a sustainable future

Disclosure under Regulation (EU) 2019/2088 of the European Parliament and of the Council dated November 27th 2019 on sustainability-related disclosures in the financial services sector available on the commercial site

Disclosure on principal adverse impacts (PAIs) of investment decisions on sustainability factors

Visit the commercial site

Principal adverse impacts (PAIs) of investment decisions on sustainability factors
Principal adverse impacts (PAIs) of investment advisory on sustainability factors

Disclosure on principal adverse impacts (PAIs) of investment advisory on sustainability factors

Visit the commercial site