Banca Popolare di Sondrio and the other companies in the Group conduct their business in full compliance with the values and principles in their Code of Ethics, in full awareness that correctness, transparency, integrity and professionalism are essential conditions for sustainable economic development of the Community.
In the light of the new European regulations in the field of sustainable finance, the Bank's commitment to update its strategies and implement its processes is increasingly strong, in order to better integrate sustainability into the business, particularly regarding climate aspects.
The Bank's Code of Ethics outlines the values and principles of conduct, policies and regulations governing the Bank's activities and applies to each person operating or representing the Bank directly or indirectly, contributing to the implementation of corporate social responsibility.
The Sustainability Policy, approved by the Board of Directors in 2021, is our ‘guiding’ document for integrating sustainability into the Group’s business and operations, in terms of:
Sustainability Policy in terms of: social issues, environmental protection, human resources development, human rights protection and fight against corruption
These values are reflected in the 2022-2025 Business Plan which, for the first time, has been integrated with the ESG Plan and includes 5 lines of action for a more sustainable business:
Goals achieved by 2023
Further strengthening of ESG Governance
ESG training for all Group personnel
ESG compliance programme
Integration of ESG factors in Remuneration Policies
Internal behavioural guidelines for the reduction of environmental impacts
Strengthening of Level II and III ESG checks
2025 targets
Sustainable mobility operational plan
Operational plan on Diversity and Inclusion
Launch of the women leadership programme
Goals achieved by 2023
Intensification of the dialogue with providers
Improvement of some ESG ratings
Support to TCFD
Joining Valore D
Joining the UN PRB and the Net-Zero Banking Alliance
2025 targets
Improvement of the ESG ratings/scoring
Goals achieved by 2023
ESG Credit Policy
Integrated Risk Management
First set of portfolio CO2 reduction targets
Definition of the counterparty ESG Score
Own funds: 10% of bond segment in ESG instruments
Definition of ESG Investment Policy
2025 targets
Increase of the target on the ESG segment of the proprietary portfolio
Definition of the giving strategy
ESG ratings for suppliers
ISO 14001 Environmental Management System
ESG Data Governance
Goals achieved by 2023
Expansion of ESG asset management lines
Integration of ESG topics into MiFID II questionnaire
New Green Bond issuance
New ESG Bond Framework
Development of new Green Loans
2025 targets
Integration of counterparties’ ESG Score with Taxonomy alignment
Development of Taxonomy aligned products
Goals achieved by 2023
Improvement of analyses concerning indirect emissions (Scope 3)
Integration of the NFS with the TCFD recommendations
Evolution of the contents of the NFS as regards the Corporate Sustainability Reporting Directive (CSRD) and the new reporting standards
2025 targets
Analysis of the environmental performance of real estate assets
Strengthening of the ESG communication strategy
ESG brand identity
In line with this path, BPS has joined the financial partnership of the United Nations Environment Programme (UNEP FI) and the initiatives Principles for Responsible Banking (PRB) and Net-Zero Banking Alliance (NZBA).
These memberships allow us to express our traditional values of closeness to the territory and the communities in a renewed commitment to facing contemporary challenges.
| Attachment | Size |
|---|---|
| Code of Ethics | 292.78 KB |
| Sustainability policy | 1.15 MB |