In line with EU policies and regulatory interventions, we are committed to promoting an environmentally sustainable economy by controlling and gradually reducing the environmental footprint generated by our operations and by supporting and facilitating our customers in making environmentally sustainable choices.

from the Banco BPM Group’s Code of Ethics

We have adopted guidelines on the management of environmental, energy and climate change issues which represent an important tool for guiding all the Group’s activities to contain our environmental impact and formalize our commitment to stakeholders.

The growing awareness of the role of the banking system in the climate and environmental challenge has profoundly influenced our actions and strategic vision.

In fact, we believe that a commitment to environmental protection and combating climate change is a fundamental element in creating long-term sustainable wealth for our stakeholders and for the areas where we operate.

With reference to direct environmental impact, we have long been committed to monitoring, managing and improving consumption efficiency with a view to reducing emissions to progressively reduce our environmental footprint. Furthermore, in 2023 we offset the residual emissions (Scope 1 and 2) by achieving Carbon Neutrality ahead of the Industrial Plan commitment.

In relation to the impacts that we indirectly produce in carrying out our financial intermediation activity, we intend to ensure more favourable access to capital for green activities or those that intend to undertake a transition process, and conversely, to adopt exclusionary policies and a selective approach towards sectors with a high environmental risk.

This strategic vision includes joining the Net Zero Banking Alliance (NZBA), deliberated in March 2023, which commits us to aligning our credit and investment portfolio to achieving net zero emissions by 2050.

We are working towards a progressive integration of climate and environmental risks and opportunities within lending policies and the overall risk management framework.

Regarding risk management, during 2023, the path towards full integration of climate factors into the Risk Appetite Framework (RAF) continued in order to support corporate bodies in considering the impacts of ESG factors. Furthermore, in continuity with the exercises carried out in previous years, we conducted analyzes aimed at measuring our exposure to climate-related risks in key economic sectors and geographical areas and therefore determining the current impacts on the Bank’s credit risk profile.

Regarding lending policies, the lending policy guidelines were greatly revised to further integrate ESG assessment parameters.

We have developed a range of products and services to support our customers’ environmental initiatives.

Regarding companies, the main catalogue solutions developed in 2023 are:

Unsecured loans with sustainability objectives – Financing product, released in 2023, aimed at supporting the investments of client companies aimed at increasing the alignment of their economic activities with the EU taxonomy criteria;
Approach for the Green Transition – Financing solution, released in 2023, which allows companies to implement their “low carbon” investment plans in line with EU environmental objectives;
Unsecured financing with sustainability objective – Product with “ESG clause” which offers the possibility of linking the cost of financing to the achievement and/or maintenance of ESG KPIs. During 2023, the list of selectable ESG KPIs was expanded.

With reference to private individuals, we want to support energy efficiency measures for properties through green mortgage solutions.

We want to grow by reducing the environmental impact of our activities. Every day, we are committed to developing solutions and processes that enable us to continually improve our environmental performance, involving employees and suppliers in the challenge.

We further consolidated our energy management activities by strengthening our Environmental and Energy Management Systems and we have confirmed our intention to continue to use only electricity entirely produced from certified renewable sources.

We take particular care in the choice of materials, especially the most frequently used ones such as paper and toner, and we are committed to reducing their consumption and avoiding waste.