Bpm bank strengthens its commitment to sustainable development of the country. The banking group led by Giuseppe Castagna has joined two important international initiatives: the United Nations Global Compact (United Nations Global Compact) and the Task Force on Climate-Related Financial Disclosures in line with the ESG targets set in the new 2021-2024 Strategic Plan presented to the market.
In particular, the United Nations Global Compact (launched in 2000) is a voluntary initiative of the United Nations which today has around 15 companies from 162 different countries and encourages member companies to create a sustainable economic model and inclusive. It consists of 10 Principles to be integrated into business strategies and management relating to respect for human and labor rights, environmental protection and the fight against corruption and involves a very significant commitment for the companies that sign it, envisaging the commitment personally by the Chief Executive Officer and an annual description of the company's efforts to implement the 10 Principles and the results achieved.
While the Task Force on Climate-Related Financial Disclosures was created in 2015 by the Financial Stability Board. It is an international organization aimed at encouraging companies to be more transparent about the risks and financial opportunities associated with climate change. In 2017, the task force published its recommendations in which it suggests structuring its environmental disclosure on the basis of 4 thematic areas: governance, strategy, risk management, metrics and targets. These four reporting areas are designed to connect and influence each other. The recommendations have been signed up by more than 2.800 organizations worldwide, representing a market capitalization of more than $19 trillion.
