Loans and services for the Green Economy

Intesa Sanpaolo offers green loans and services dedicated to those who pay attention to the environment.

The Business Plan has provided for a further boost to sustainable credit for retail customers with a focus on the ecological transition, making 12 billion euros of green credit available to individuals.

In 2024, the Group's commitment to retail customers continued through the provision of mortgages and loans for environmental purposes. The provisions of the European Directive on the Energy Performance of Buildings (EPBD) provide for the progressive redevelopment of the real estate assets of EU countries. With this in mind, the banking system is urged to play a transformative role in directing financial investments towards activities that can help reduce the European Union's dependence on fossil fuels, helping to achieve the EU's climate goals for net-zero emissions by 2050. The financing solutions offered by the Intesa Sanpaolo Group are available not only to support the purchase or construction of a property with high energy efficiency, but also for those who want to improve energy performance through, for example, the replacement of high-performance fixtures and boilers, the purchase of environmentally friendly vehicles and the installation of solar and photovoltaic panels. 

In this context, the Group offers "Green - Mutuo Domus": a mortgage loan with favourable conditions (reduction of the Nominal Annual Rate (TAN) and free energy certification for renovation purposes) that allows the purchase and construction of a residential property in Italy with a high energy class (equal to or higher than B) or the renovation of a residential property in Italy with an improvement of at least one Energy class

The Group's objective relating to the disbursement of Green Mortgages has been included in the "2022-2025 Business Plan" through the involvement, in particular, of the business divisions which, starting from the analysis of the economic and commercial context of reference and through the definition of specific actions and initiatives to support customers, propose and coordinate the offer of dedicated product and service solutions,  in order to promote evolution in the field of environmental sustainability.

The scope of the objective includes mortgages to individuals disbursed throughout Italy and in the countries where the Banks of the International Banks Division (IBD) are present. Originally focused on the Italian market, it was possible to extend the Group's internal ESG classification rules to the foreign perimeter as well. Intermediate milestones have also been established within the plan to ensure that the final goal is achieved. These include the increase in the incidence of Green Mortgages compared to the total mortgages disbursed each year and the progressive improvement in the energy performance of the properties financed. In this context, to date, the objectives are in line with what was budgeted.

The Group supports the green projects of Retail customers, including the Green Mortgage, a mortgage loan on preferential terms to finance the purchase/construction of energy-efficient properties or the renovation of existing buildings, improving their performance. 

The Intesa Sanpaolo Group participates in the European coalition for energy efficiency financing and in the "Energy efficient Mortgages Action Plan" (EeMAP) project. As part of "EeMAP", Intesa Sanpaolo has also joined the "Energy Efficient Mortgage Label" (EEML), a project that aims to maximize the regulatory alignment of the portfolio with major legal developments such as the European Union Taxonomy, the Mortgage Credit Directive (MCD), the Capital Requirements Regulation (CRR), or equivalents at international level. As part of the EEML project, starting from 2021, the Intesa Sanpaolo Group reports quarterly aggregate data on the green portfolio and the standard portfolio. 

The total cumulative disbursement as at 31.12.204 is €9 billion.

The green offer is enriched by a series of dedicated services, some of which are offered by partner companies. These are ancillary and optional services that help, for example, to assess the possible savings deriving from energy redevelopment interventions. In line with the regulatory framework defined by EU Regulation 2020/852 on the European Taxonomy, the Intesa Sanpaolo Group has implemented a series of activities aimed at obtaining information on the energy performance of buildings as a guarantee for mortgage applications.

Intesa Sanpaolo supports non-profit companies that intend to invest in energy efficiency projects with solutions that save on energy costs and increase the overall sustainability of the company's business.

The main products offered to SME customers include Sustainability-linked "S-Loan" loans to support small and medium-sized enterprises that aspire to improve their sustainability profile, with the aim of supporting them in a path of structural change, correlating economic and financial decisions also to their environmental impacts, through precise commitments made with the Group through specific ESG indicators (KPIs) subject to annual monitoring. 

In 2024, the "S-Loan Green Projects" product was introduced, a loan to support all types of business investments capable of generating a positive environmental impact on processes, infrastructures, technologies, services and products. The Group's goal is to encourage investments by corporate customers to finance their projects in the field of environmental sustainability. Specifically, with regard to climate change mitigation and adaptation issues, the investments that can be financed concern: 

• Renewable;
• Efficiency;
• sustainable transport;
• adaptation to climate change;
• Green building.

In addition, Intesa Sanpaolo makes available the S-Loan CER loan in favor of companies that decide to invest in renewable energy: the mechanism provides an incentive in terms of interest rate relief, which is granted an additional bonus in the event that the company allocates part of the energy produced and not self-consumed to the Renewable Energy Community (CER). 1

Among the products that support professionals and companies in the implementation of investment programs in the energy sector, there has been the "Energia Impresa" loan for some time, which is divided into several lines of intervention:

• plants for the production of electricity from renewable sources (RES projects);
• photovoltaic, production of electricity from photovoltaic solar sources;
• wind, production of electricity from wind power sources only on-shore;
• hydroelectric, production of electricity powered by hydraulic sources classified as "small derivation";
• residual gases from purification processes;
• small-scale biogas plants, for the production of electricity from biogas;
• biomethane plants, for the production of biomethane for transport or other uses;
• energy efficiency interventions, for investments aimed at the energy efficiency of buildings, thermal and electrical consumption, and energy production plants.

In addition, "NOVA+" is the specific medium-long term financing line intended to support companies on research, development and innovation projects. Within the Nova+ Research line, the specific products are mentioned:

• "Nova+ Green": intended to support product or process innovation projects aimed at achieving climate neutrality or integrating circular economy processes;
• "Nova+ Mobility": intended to support innovative projects of companies that aim to transition mobility towards a new paradigm of sustainability, digitization and connection;
• "Nova+ Agritech": intended to support innovative projects of companies aimed at the transition of agriculture towards a new paradigm based on the principles of sustainability, resilience and productivity.

The initiatives mentioned above are aimed at all companies/groups in any sector and size of the Italian territory.

In this context, the medium-long term loan with SACE Green guarantee is also the medium-long term financing line intended to support the achievement of environmental objectives, as defined by the Green-MEF Convention signed with SACE, including also related to climate change mitigation and adaptation.

This initiative is aimed at corporations, including cooperative companies with registered office (or secondary office) in Italy and with a turnover equal to or less than 500 million euros, as shown in the last financial statements approved prior to the date of the SACE Green guarantee request.

Along the same lines, the InvestEU Guarantee – Sustainability Guarantee can be granted on financing operations intended to support the achievement of objectives related to climate change mitigation and adaptation, and is aimed at SME and Small Mid Cap corporate customers for transactions that meet certain eligibility criteria. 

IMI Corporate & Investment Banking Division 

The financial offer of the IMI Corporate & Investment Banking Division focuses on ESG solutions with particular attention to environmental aspects. It includes sustainability-linked tools, linked to the improvement of the customer's sustainability performance, and loans with proceeds tied to dedicated projects, which can also benefit from the circular economy ceiling, promoting decarbonisation and reuse of resources. In particular, in terms of Sustainability-linked solutions, in 2024 the Group supported its customers with loans, bonds, guarantees, securitizations and hedging, while the transactions with restricted proceeds targeted include Green loans, Green, Social and Sustainable bonds, Green Convertible bonds as well as Project Finance dedicated to the world of renewable energy (wind, photovoltaic, biomass, hydroelectric). 

In addition, the IMI Corporate & Investment Banking Division offers a wide range of advisory services focused on the sustainable transition: in 2023, an ESG Advisory Team was established to assist clients served by IMI Corporate & Investment Banking in the development of customized ESG tools often linked to their transition strategies and plans.

Services for sustainable transition

The Group has set itself the goal of promoting ESG practices, included as a priority in the 2022-2025 Business Plan, raising awareness among companies and their supply chains and accompanying them in the process of becoming aware of their level of sustainability, as well as in defining a transition plan towards more responsible and innovative models, in line with the ecological transition of the PNRR. To this end, the initiative linked to ESG laboratories, physical and virtual meeting spaces, which offer workshops and advice from qualified partners on ESG (environmental, social and governance) issues, continues in 2024. 

The goal of creating at least one laboratory per Regional Directorate has been largely exceeded, with more laboratories in some areas. Each laboratory defines common objectives and operating methods in order to propose a path designed to help companies identify their strengths and areas for improvement, stimulating change that generates value not only for the company, but also for the community and the environment. 

The activities of the laboratories are constantly promoted through the Group's traditional channels, such as press releases, institutional website and social channels, but also thanks to the communication initiatives of the founding members (e.g. chambers of commerce, local authorities, institutions, universities, etc.). The initiative continues to expand, supported by institutions and technical partners, with the aim of making ESG practices a priority in business choices and development strategies, making the ecological transition not only a necessity, but also an opportunity for innovation and growth.

Since 2021, with the launch of the first laboratory in Brescia, various laboratories have been established throughout Italy, from Padua to Genoa, including cities such as Milan, Turin, Bari and Palermo. As of December 31, 2024, ESG laboratories active are 16.