Banca Mediolanum Sustainability Profile

In 2023, Banca Mediolanum reported total carbon emissions of approximately 4,040,041,000 kg CO2e, with emissions distributed across all three scopes. Specifically, Scope 1 emissions were about 2,265,820 kg CO2e, primarily from mobile combustion (418,340 kg CO2e) and stationary combustion (5,340 kg CO2e). Scope 2 emissions totalled approximately 13,560 kg CO2e, while Scope 3 emissions accounted for a significant 4,000,410,000 kg CO2e, largely driven by investments (4,037,045,150 kg CO2e) and employee commuting (2,221,400 kg CO2e). In 2022, the bank's emissions were similarly substantial, with total emissions of around 4,138,540,000 kg CO2e. Scope 1 emissions were reported at approximately 2,628,410 kg CO2e, and Scope 2 emissions at about 204,880 kg CO2e. The Scope 3 emissions for that year were approximately 4,138,540,000 kg CO2e, again dominated by investments (4,136,358,100 kg CO2e) and business travel (530,890 kg CO2e). Banca Mediolanum has not disclosed specific reduction targets or initiatives as part of its climate commitments, and there are no SBTi (Science Based Targets initiative) reduction targets reported. The emissions data is sourced directly from Banca Mediolanum S.p.A. and is not cascaded from any parent organisation. Overall, Banca Mediolanum's emissions profile highlights the significant impact of its investment activities and employee commuting on its overall carbon footprint, underscoring the need for targeted strategies to address these areas in future sustainability efforts.