Climate change poses direct and indirect risks to the Bank’s business activities. In recent years we have witnessed extreme atmospheric events at global level that have had considerable impact on the Bank’s structures and on the activities and daily lives of our corporate and retail customers. Knowing how to assess and manage these risks is therefore increasingly important.
One example is the Intesa Sanpaolo Group’s commitment to the environmental emergencies that occurred in Italy during the year: from Veneto to Basilicata, Piedmont, Lombardy, Liguria, Tuscany, the Marche and Lazio, there were many episodes of rivers bursting, torrential rain, blizzards and floods right across the country. The Intesa Sanpaolo Group, through the Banks of the Banca dei Territori Division, reacted quickly to support the businesses and families affected by these exceptional events by granting numerous dedicated credit lines (for a total of 180 million euro) and subsidised loans, and suspending repayments on mortgages and loans. In addition, together with the Province of Treviso, Cassa di Risparmio del Veneto opened a solidarity current account, directly participating with its own contribution, to support the people of the Treviso area affected by the heavy rain that saw the Lierza torrent burst its banks.

Potential risksPotential impactsActions
Introduction of new environmental regulations
  • procedural adjustment costs relating to certification processes in the event of changes to international standards and regulations 
  • possible fines in the event of non-compliance with new regulations
  • constant and precautionary monitoring of possible changes to regulations
  • participation in training courses and specific workshops
Uncertainty surrounding environmental regulations
  • negative impact on the possibility of implementing new products and services
  • active collaboration with policy makers to highlight the need for a stable and clear regulation and to be kept up-to-date on ongoing changes  @
Obligation to report emissions
  • voluntary reporting is based on shared standards that may not, however, be considered by legal obligations 
  • reporting adjustment costs
  • investment in the transparency and accuracy of data 
  • participation in GRI (Global Reporting Initiative) working groups to contribute to defining guidelines and Italian Banking Association working groups to define sector benchmarks
Management of extreme atmospheric events
  • ƒƒdamage to our infrastructure 
  • ƒƒincrease in costs related to the change of the average external temperature
  • ƒƒinterruption of banking activities 
  • ƒƒfinancial implications related to the default risk of businesses seriously damaged by extreme atmospheric events.
  • ƒƒadoption of a business continuity plan
  • ƒƒadoption of measures to prevent physical damage to our structures @
  • ƒƒinsurance product range 
  • ƒƒsuspension of repayments of loans issued to damaged customers
Reputational damage
  • reputational crisis generated by involvement with customers / projects perceived as negative for climate change by the public, the media, shareholders and other stakeholders 
  • reputational risk in the event the Bank’s environmental performances stop showing a positive trend
  • monitoring of reputational risks through the management tools for the application of the Code of Ethics and the Sustainability Report process @ 
  • listening to NGOs with particular focus on climate change issues @
  • participation in working groups and initiatives related to the climate (UNEP FI, Italian Ministry of Environment etc.)
Instability of socio-economic conditions
  • greater investment due to the new European regulation that requires States and their citizens to pay more attention to the environment 
  • reduced financial resources of citizens due to the damage caused by environmental disasters
  • Intesa Sanpaolo supports families and economic operators in the event of climatic emergencies through specific loans and the suspension of repayments on existing loans

Summary table of Group environmental data

 Unit of measurement201420132012
Environmental loans M€ 643 1,165 3,037
Electricity MWh 469,131 506,459 549,676
Heat energy MWh 229,731 267,894 250,167
Paper tonnes 8,093 8,485 8,957
Waste tonnes 3,245 3,045 2,700
Water m3 2,140,026 2,480,507 2,419,472