Net Zero Bank Alliance 100% renewable electricity sources in Italy Reduction of direct emissions from 2019

 

By joining the Net Zero Banking Alliance (NZBA), we acknowledge our responsibility and bolster our willingness to contribute to the climate transition of the international banking sector.

The NZBA brings together banks that are committed to aligning their lending and investment portfolios with goals of achieving net zero emissions by 2050, in line with those set by the Paris Climate Agreement.

As a financial group, our commitment to environmental protection is focused on direct and indirect impacts. For both impact areas, specific objectives have been identified, some of which have been integrated into the 2019-2023 strategic plan, and initiatives have commenced to reach them.

Reducing direct impacts 

We are striving to reach the target of zero emissions (Scope 1, 2 and 3) by 2050.

Targets to 2023

  • 94% energy from renewable resources;
  • Emissions reduced by 27%;
  • Hybrid cars covering 90% of the Mediobanca Group fleet in Italy

Initiatives
Activities to reduce energy consumption and CO2 emissions.

 

Reducing indirect impacts 

Targets to 2023

  • Issue of a €500bn green bond;
  • Issue of a carbon neutral fund (RAM);
  • +50% of 'green' mortgages by CheBanca!

Initiatives
Joining the Net Zero Bank Alliance, projects supporting energy transition and issuing new financial instruments in the ESG area.

 

Although we do not have the same reach as some large commercial banks, we do have a significant national presence that requires us to seriously address the reduction of our consumption (water and paper) and the proper management and treatment of waste.

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