The large Italian groups are proceeding along the path towards decarbonisation. As? By disengaging from investments in coal companies and also by encouraging customers to produce clean energy. The last example is that of Intesa Sanpaolo, which defined the policy for the limitations and exclusion criteria for the group's credit operations in the coal sector. With this clear stance, the bank thus intends to support customers on their journey to reduce carbon use (phase out) to instead encourage energy production and the transition towards low carbon intensity alternatives, such as renewable sources and gas.
To return to the parameters that Intesa deems correct, the companies that want to be financed will have to demonstrate that they have a documented medium/long-term strategy of progressive reduction in the use of coal, or request a loan directly correlated to coal transition objectives, for example in the form of "green loan", "sustainable loan", "transition loan".
The commitment of the bank led by Carlo Messina is a confirmation, given that Intesa is well positioned within the main social and environmental sustainability indexes and classifications: it is, for example, the only Italian bank included in the Dow Jones Sustainability Indices (World and Europe).
However, this will only be the beginning of an increasingly demanding journey, because the financial world is increasingly demanding attention on ESG. It is an example of this the announcement of the divestment of the Norwegian Sovereign Fund for 3,3 billion from some important groups and utilities that operate in the coal sector, and even the observation of Enel, one of the utilities most committed to the green sector, which has also announced a total exit from coal by 2025.
