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Banco BPM SpA
Environmental & Social Information • Aug 9, 2024
4282_sr_2024-08-09_f29291e3-02a7-494d-a9c2-bcacbb8d26e9.pdf
Environmental & Social Information
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| Informazione Regolamentata n. 1928-80-2024 |
Data/Ora Inizio Diffusione 9 Agosto 2024 10:49:54 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | BANCO BPM | |
| Identificativo Informazione Regolamentata |
: | 194626 | |
| Utenza - Referente | : | BANCOBPMN03 - Marconi | |
| Tipologia | : | 3.1 | |
| Data/Ora Ricezione | : | 9 Agosto 2024 10:49:54 | |
| Data/Ora Inizio Diffusione | 9 Agosto 2024 10:49:54 | ||
| Oggetto | : | Banco BPM set intermediate decarbonisation targets for 2030 as part of the Net Zero Banking Alliance (NZBA) initiative |
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| Testo del comunicato |
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PRESS RELEASE
Banco BPM set intermediate decarbonisation targets for 2030 as part of the Net Zero Banking Alliance (NZBA) initiative
The targets prove Banco BPM's contribution in supporting the transition to a carbonneutral economy
Milan, 9 August 2024 - The recognition of the importance of the banking sector's contribution to contrast climate change and to face environmental challenges has had a significant impact on Banco BPM's corporate strategy in the area of climate sustainability.
After having joined the Net-Zero Banking Alliance (NZBA) in March 2023, the Bank commitment to achieving net-zero carbon dioxide financed emissions by 2050, in line with the targets set by the Paris Climate Agreement, continues.
Banco BPM has, therefore, set decarbonisation targets for 2030 for each of the five prioritysectors communicated to the NZBA when joined. To this end, the "net-zero" 2050 scenarios proposed by the best market standards (International Energy Agency) were applied to the Bank loans and banking book investments, based on the situation as at 31 December 2022 (the starting point).
Such targets, expressed as a percentage reduction from the starting point in terms of Weighted Average Carbon Intensity (WACI) metric, based on exposure to corporate counterparties1 , are reported below:
- Automotive: -48% vs end-2022 WACI (0.45 million tons of CO2e per billion passengerkilometres travelled by vehicles sold). Such a target, which include heavy-duty vehicle manufacturers, considers Scope 1, 2 and 3 emissions of the counterparties in the banking book portfolio.
- Cement: -23% vs end-2022 WACI (0.50 tons CO2e per ton of cement product). This target considers Scope 1 and 2 emissions of the counterparties in the banking book portfolio.
- Coal: run-off of exposures by 2026.
- Oil & Gas: -14% vs end-2022 WACI (60.7 grams of CO2e per megajoule of oil product/natural gas produced or distributed). This target considers Scope 1, 2 and 3 emissions of the counterpartiesin the banking book portfolio.
1 Counterparties with turnover greater than € 75 million.
- Power Generation: -56% vs end-2022 WACI (0.17 tons of CO2e per megawatt-hour of energy produced). This target considers Scope 1 and 2 emissions of the counterparties in the banking book portfolio.
The table below summarises the targets for 2030:
| Emission Intensity | |||
|---|---|---|---|
| Sector | Metric | Starting point 31/12/2022 |
% change by 2030 |
| AUTOMOTIVE (Scope 1, 2 & 3) |
Million tons of CO2e per billion passenger kilometres travelled by vehicles sold |
0.45 | -48% |
| CEMENT (Scope 1 & 2) |
Tons of CO2e per ton of cement products | 0.50 | -23% |
| COAL | Run off of the exposure by 2026 | -100% | |
| OIL & GAS (Scope 1, 2 & 3) |
Grams of CO2e per megajoule of oil product/natural gas produced or distributed |
60.7 | -14% |
| POWER GENERATION (Scope 1 & 2) |
Tons of CO2e per megawatt-hour of energy produced |
0.17 | -56% |
Banco BPM will therefore continue its path of alignment to the Net Zero goals by defining the actions to support companies in their transition paths.
For information:
Media Relations e-mail: [email protected] Investor Relations e-mail: [email protected]
| Numero di Pagine: 4 |
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