Banca Popolare di Sondrio joins to several national and international sustainability initiatives such as:
The Global Agenda for Sustainable Development (2030 Agenda), approved by the United Nations in September 2015, identified 17 Goals (SDGs) and 169 Targets as a roadmap to sustainability for countries and organisations around the world.
These goals, set to be achieved by 2030, provide a very comprehensive view of how the current development model is unsustainable not only socially and environmentally, but also from an economic standpoint. The implementation of Agenda 2030 is not just a state-level matter but involves
every component of society from businesses to third sector organisations, universities and operators in the world of communications and culture.
At this time, the SDGs seek to provide an impulse to the business world in particular, given its key role in the achieving sustainable development. With this in mind, sustainability reporting by the Group will be configured within this framework, highlighting the close relations that exist between the pursuit of business objectives and the various sustainability goals.
UN Global Compact
The United Nations Global Compact is the world’s largest strategic corporate citizenship initiative, born from the desire to promote a sustainable global economy: respectful of human and labor rights, environmental protection and the fight against corruption.
Banca Popolare di Sondrio has been participating in this project since 2004, thus accepting the invitation of the United Nations to synergistically involve the world of business and non-governmental organizations in the great challenges of humanity.
Furthermore, in 2018, the Bank renewed its support for the Global Compact project by joining, as a founding member, also the Italian network (Global Compact Network Italia – GCNI).
The Ten Principles of the Global Compact have always been part of Banca Popolare di Sondrio's strategy and corporate culture, as well as of the banking and financial activities it carries out on a daily basis. Therefore, as every year, our bank confirmed its support for the United Nations Global Compact and reiterated its commitment in the field of corporate sustainability by publishing its Communication on Progress (COP).
UNEP FI: PRB E NZBA
As stated in the 2022-2025 Business Plan, in late 2023, the Bank's Board of Directors approved the membership to the United Nations Environment Programme Finance Initiative (UNEP FI), a collaboration between UNEP and the global financial sector to channel private sector funding towards sustainable development. The initiative brings together more than 500 banks, insurers and investors with assets exceeding US$170 trillion.
The membership of UNEP FI includes affiliation to two related initiatives, the Principles for Responsible Banking (PRB) and the Net-Zero Banking Alliance (NZBA).
The Principles for Responsible Banking, created by UNEP FI in 2019, are 6 voluntary-participation principles designed to bring purpose, vision and ambition to sustainable finance.
Signatory banks commit to embedding them across all business areas.
Net-Zero Banking Alliance (“NZBA”), launched in 2021, gathers together 142 bank that commit to define decarbonization strategies and set targets in line with the Paris Climate Agreement.
NZBA is also a climate accelerator adopted by many signatories of PRB that want to set ambitious climate targets.
By defining a climate strategy, banks undertake to operate consistent with a maximum temperature rise of 1.5° C above pre-industrial level.
Valore D is the first Italian business association committed to promoting an inclusive corporate culture, without discrimination, capable of bringing out everyone's talent through the enhancement of diversity.
The association was born in 2009 and today the association has +320 member companies in Italy with more than 2 million employees.
In 2023, the Banca Popolare di Sondrio Group joined this association with the aim of creating an inclusive corporate culture that values all diversity.
«Women in bank» Charter of Italian Banking Association
ABI’s Charter «Women in bank» is a document helping signatories to support their commitment to equal opportunities.
The Charter is open to all banking and financial companies, including those not associated with the ABI, and commits them to enhance their corporate policies according to the principles of equal opportunities.
To date, the Charter has been signed by 54 institutions, as well as by ABI itself, which correspond to 92% of the value of the assets of the banks participating in the association and 92% of employees in the sector.
As evidence of the growing sensitivity towards social issues, the Bank has signed this document to support its commitment to equal opportunities by promoting an inclusive work environment open to the values of diversity and spreading the full and effective participation of women at every level of the company.
FEduF - Foundation for Financial and Savings Education
The " Foundation for Financial and Savings Education", established on the initiative of the Italian Banking Association, is a non-profit making legal entity governed by private law which pursues projects of social welfare by promoting financial education, in the broader concept of active and informed economic citizenship, in order to develop and spread financial and economic knowledge.
Through the collaboration with FEduF, BPS provides students with classes that enable them to reflect on circular economy topics and conscious management of resources, as well as to deepen knowledge of sustainable development and civil economy models.
Forum for Sustainable Finance
The Forum for Sustainable Finance is a non-profit association founded in 2001 with the aim of encouraging the inclusion of environmental, social and governance (ESG) criteria in financial products and processes. The Forum feeds with its members an information and training network, which aims to encourage exchange and cultural growth in the field of sustainable finance.
The Bank has been a member of the association since 2022: the intention is to share ideas through working groups and moments of discussion, stay updated on regulations and policies and give greater visibility to its commitment by showing the initiatives, products and services made towards change in a more equitable and sustainable society.
The Task Force on Climate Related Financial Disclosures (TCFD) was created within the Financial Stability Board in 2015 to provide recommendations for effective reporting on climate-related risks.
The goal of the Recommendations is to improve the consistency and transparency of climate-related financial reporting and to encourage change to reduce business impact on climate change.
In the 2017 Annual Report, the TCFD published a list of recommendations aimed at supporting companies in drafting the financial disclosure relating to climate change.
To align its reporting with international best practices, the Bank has therefore decided to formally support the TCFD as well as to review its climate-related reporting in the TCFD Report, published attached to the NFS.