€200 million in funding for Thames Water, the UK's largest water and wastewater company. This was announced by Intesa Sanpaolo, which speaks of this agreement as the “first operation on the international market to benefit from the 5 billion euro ceiling intended to support the circular economy.
The transaction was concluded by the Intesa Sanpaolo Corporate & Investment Banking Division and was structured by Banca IMI, the group's investment bank, with the support of the Intesa Sanpaolo Innovation Center Circular Economy team.
“Intesa Sanpaolo is one of the most sustainable banks in the world, included in the main sustainability indexes. From this background and from the strong drive towards innovation comes the commitment to the circular economy, an economic model that aims to untie development from the exploitation of exhaustible natural resources and to redesign the industrial system. Since 2015, Intesa Sanpaolo has been the only Financial Services Global Partner of the Ellen MacArthur Foundation, the main organization that promotes the circular model”, explains the bank led by Carlo Messina in a note.
Mauro Micillo, Head of the Corporate and Investment Banking Division of Intesa Sanpaolo and Chief Executive Officer of Banca IMI stated: “We are really satisfied with this operation which sees us alongside Thames Water. Our Division intervenes with a loan with a meaning that goes beyond the economic dimensions; in fact, in the agreements we have foreseen the periodic verification of some indicators linked to the circular economy, correlating to these some economic incentives such as to improve the envisaged conditions. Thanks to the collaboration with Intesa Sanpaolo Innovation Center, we have all the tools to best seize the opportunities offered by the new forms of sustainable economic initiatives; an innovative and strategic challenge that could bring significant benefits on a global level. The commitment in favor of the circular economy" - concluded Micillo - "is finding concrete expression: with the operation announced today, the Intesa Sanpaolo Group exceeds the sum of 500 million euros in loans to support 14 initiatives of primary importance."
