Intesa Sanpaolo Partners with A2A to Power Operations with Renewable Energy

Intesa Sanpaolo Partners with A2A to Power Operations with Renewable Energy

(IN BRIEF) In its ongoing commitment to reduce emissions and align with its ESG strategy, Intesa Sanpaolo has signed an agreement with A2A to procure electricity from renewable sources. This agreement, spanning ten years, will see Intesa Sanpaolo sourcing around 10% of its annual energy needs in Italy from two newly built photovoltaic plants in Sicily. Alfonso Guido, Intesa Sanpaolo’s Chief Cost Management Officer, emphasized the bank’s dedication to emission reduction and the role of this agreement in supporting Italy’s transition towards decarbonization. For A2A, the partnership represents an opportunity to provide long-term solutions for decarbonization and contribute to Italy’s energy transition. Additionally, the summary outlines key ESG achievements of Intesa Sanpaolo in 2022 and 2023, including significant investments in social lending, start-ups, innovation projects, and support for the green economy and circular economy.

(PRESS RELEASE) MILAN, 6-Apr-2024 — /EuropaWire/ — Intesa Sanpaolo continues to accelerate its efforts to reduce its emissions. In line with the development trajectory of its ESG strategy, the banking group has signed an agreement with A2A – through A2A Energia, the Group’s commercial company – to supply electricity from renewable sources.

The agreement provides for the supply of energy to meet around 10% of the Group’s annual needs in Italy (equal to about 30 GWh) for ten years, thanks to two newly built photovoltaic plants located in Sicily. The plants, whose production profile guarantees coverage of the stated needs, will come on stream during 2024.

“Intesa Sanpaolo is confirming its strategy of sharply reducing its emissions,” commented Alfonso Guido, Intesa Sanpaolo’s Chief Cost Management Officer. “Through this agreement, the Group is contributing actively to the process of transitioning Italy’s economy towards decarbonisation, with further benefits owing to the diversification of energy supply sources and the stabilisation of the price of purchase for part of its needs.”

For A2A, the agreement represents an opportunity to provide an important partner such as Intesa Sanpaolo with medium-to-long-term solutions to concretely support companies on the journey towards decarbonisation and – thanks to the production of renewable energy – to make a concrete contribution to the energy transition in Italy.

In 2022 and 2023, Intesa Sanpaolo further consolidated its ESG commitment – as envisaged in the Business Plan presented by CEO Carlo Messina in February 2022 – through:

• 36.8 million interventions by the programme to provide food and shelter for the needy;
• €14.8 billion in new social lending;
• €85 million in investment in start-ups through NEVA SGR;
• 405 innovation projects launched by the Intesa Sanpaolo Innovation Centre;
• Since 2021 around €45 billion in new loans to support the green economy, circular economy and ecological transition. Of this amount, €8.7 billion in new lines of credit for the circular economy;
• €4.3 billion in new green loans for individuals;
• Opening of 13 ESG workshops;
• 74% of Eurizon’s assets under management invested in ESG products.

Media Contact:

Corporate & Investment Banking and Governance Areas
stampa@intesasanpaolo.com

SOURCE: Intesa Sanpaolo