- United have chosen Intesa Sanpaolo which partner for the transition to the circular economy. In detail, the banking institution led by Carlo Messina and Intesa Sanpaolo Innovation Center - the group company dedicated to frontier innovation and the diffusion of the circular economy - have signed a strategic master agreement with the Ministry of Economy of the United Arab Emirates in order to promote the adoption of the principles of the circular economy and the design of a circular ecosystem in the country.
The Intesa-Emirates strategic agreement
Intesa – through the branches in Dubai and Abu Dhabi – and Intesa Sanpaolo Innovation Center “are committed to collaborating with the Ministry of Economy of the UAE in the joint planning and launching of policies aimed at encouraging the adoption of practices circular, in the promotion of coherent innovative business models and in the development of an ecosystem involving institutions, universities, research centers, companies and start-ups", explains a note. Intesa will encourage the structuring and financing of local circular economy projects by leveraging the circular ceiling of 8 billion euros envisaged in the 2022-2025 Business Plan. While Intesa Sanpaolo Innovation Center will make available the consultancy of the CE Lab, its acceleration paths for start-ups and the support of the venture capital funds of the subsidiary Neva SGR.
The slaughter
“The first phase of the project, which will concern 'environmental mapping' with the identification of the country's potential and the subjects involved, will also be able to count on the participation of Cariplo Factory, co-founder together with Intesa Sanpaolo Innovation Center of the Circular Economy Lab ( CE Lab) based in Milan".
The subsequent phases will see a growing collaboration between Intesa and the Circular Economy Council of the UAE, a body that the Emirati government has set up to better coordinate policies towards the transition, also in anticipation of a potential development of the project which aims to realize of a Circular Economy laboratory in the Emirates, which will aim to promote circular models within the local ecosystem.
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The framework agreement was signed by the UAE Minister of Economy, His Excellency Abdulla Bin Touq Al Marry, by the head of the IMI Corporate & Investment Banking division of Intesa Sanpaolo, Mauro Micillo, and by the vice president of Intesa Sanpaolo Innovation Center, Paolo Maria Vittorio Grandi.
“The signing of the strategic framework agreement with Intesa Sanpaolo marks a fundamental stage in this sense, which will contribute to strengthening the competitiveness of the United Arab Emirates as one of the main circular economies at a regional and global level,” said the Minister of Economy of the United Arab Emirates. United Arab Emirates.
“We are proud to partner with the United Arab Emirates on the path to transition to the circular economy, leveraging our distinctive expertise,” said Micillo.
“Our Circular Economy Team has been collaborating with the Emirates Government since 2018, having created initiatives to support the diffusion of the circular economic-productive model in the Middle East,” added Vittorio Grandi.
