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Net Zero Banking Alliance (NZBA)

Started in 2021, on the initiative of the United Nations, the Net-Zero Banking Alliance (NZBA) aims to accelerate the sustainable transition through the involvement of the banking sector.
Membership of the NZBA commits banks to align their credit and investment portfolios with the goal of net zero emissions by 2050, in line with the targets set by the Paris Climate Agreement, and to set an intermediate target by 2030, as well as providing disclosure of the progress achieved.
Banco BPM decided to join the NZBA in March 2023 and, following careful analyzes and evaluations, identified 5 priority sectors for the communication of targets 18 months after joining:

  • Oil & Gas;
  • Power generation;
  • Cement;
  • Automotive;
  • Coal.

In particular, Banco BPM has undertaken in the new Strategic Plan 2023-2026 to define its targets on the priority sectors by the 3rd quarter of 2024 and on all other sectors by 2026.
It is underlined that, as part of the Strategic Plan, with reference to the coal-related sectors heavily impacted by the climate transition, Banco BPM has already committed to a progressive run-off of the currently existing exposures.