Climate and environment
We are sensitive to the need to protect the environment and the issue of climate change, which is why we have set ourselves decarbonization objectives, and adopted a series of initiatives to reduce our consumption levels.
- Net Zero Banking 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 into the “One Brand – One Culture”.
| ENVIRONMENT |
| OBJECTIVES TO 2026 | 30/06/24 | |
|---|---|---|
|
|
-35% financed emissions intensity (tCO2/M€) by 2030 (-18% by 2026)1 | -18% |
| All interim sector targets for NZBA | All NZBA sector targets set | |
| Carbon neutrality on own emissions2 | Carbon neutrality confirmed | |
| 100% renewable energy at Group level | 100% at Group level | |
| Incorporating more "Climate & Environment" metrics into risk management processes such as RAF, ICAAP and Stress testing | Fully integrated |
1. In the CIB loan book, excluding Specialty Finance, vs 20213 emissions intensity (tCO2/M€).
2. Includes Scope 1 and Scope 2 market-based emissions.
3. In CIB lending (excluding Specialty Finance) and proprietary investment portfolio in all markets.
We have updated our Strategic Plan “One Brand-One Culture” to 2028.
NZBA 2030 and 2050 targets
As a member of the Net-Zero Banking Alliance, we have complied with all the requirements set, which include:
- issuing a set of scenario-based interim portfolio decarbonization targets for 2030 and 2050, for the most impacting economic sectors identified by the NZBA;
- integration of the progress made in this area into the Group’s strategy, by drawing up a Transition Plan for the first time;
- emissions and emissions intensity reporting on an annual basis, as confirmed by the Task Force on Climate-related Financial Disclosure Report (TCFD) which is published annually.
Mediobanca confirms its commitment to transparent climate reporting, maintaining the TCFD (Task Force on Climate-related Financial Disclosures) framework as its reference point for communicating risks and opportunities related to climate change.
The following table details the coverage of climate change issues for the 11 recommendations identified by the TCFD framework, through a reconciliation table with the sections of the Group's Sustainability Report 24-25.
| Topics | TCFD Recommendations | Internal references in publications |
|---|---|---|
| GOVERNANCE | Disclose the organization's governance around climate-related risks and opportunities, describing:
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| STRATEGY | Disclose the actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy and financial planning, describing:
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| RISK MANAGEMENT | Disclose how the organization identifies, assesses, and manages climate-related risks, describing:
|
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| METRICS & TARGETS | Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material, in particular:
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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.
