Intesa Sanpaolo signs up to UN Principles for Responsible Banking

Intesa Sanpaolo has become one of the first banks in the world to sign up to the United Nations’ Principles for Responsible Banking (PRB). The agreement was launched at UN Headquarters in New York at the start of UN General Assembly week – in the presence of Secretary-General António Guterres. The PRB agreement asks the banking sector to work towards the UN’s 17 Sustainable Development Goals (SDGs), which in turn reflect the central aim of the 2015 Paris Climate Agreement. The latter commits to containing the rise in global temperatures this century to two degrees Celsius above those of pre-industrial levels.

Intesa Sanpaolo CEO Carlo Messina commented: “Intesa Sanpaolo has been a member of UNEP FI and of the UN Global Compact since our Group’s creation in 2007. For a Bank like ours, which has embedded sustainability in its 2018-2021 Business Plan, subscribing to the Principles for Responsible Banking is a natural next step. Our commitment is significant and includes a €5 billion circular economy fund – for which we plan to issue a second Sustainability Bond to be offered on international markets.”

“Alongside this, we also have a plan for economic inclusion built on a €1.25 billion impact fund and a major program to aid the neediest. We are deeply committed to cultural initiatives with our Progetto Cultura, aimed at sharing our vast artistic patrimony.”

The PRB agreement also asks financial institutions for transparency and co-operation in working with stakeholders in a sustainable way, and in supporting customers to bring sustainability practices into their own operations.

Author: Rhiannon Edwards