Intesa Sanpaolo

Intesa Sanpaolo, headquartered in Italy and operating within financial intermediation services, has outlined ambitious climate commitments and reported substantial carbon emissions.

For the year 2025, Intesa Sanpaolo reported total absolute emissions of approximately 40.4 billion kg CO2e. This figure is comprised of roughly 43.6 million kg CO2e for Scope 1 emissions and approximately 14.9 million kg CO2e for Scope 2 (market-based) emissions. Scope 3 emissions were the largest contributor, totalling approximately 40.3 billion kg CO2e, with investments accounting for the vast majority at around 40.2 billion kg CO2e.

In 2024, the bank's total emissions were approximately 59.9 billion kg CO2e, with Scope 1 emissions at around 45.3 million kg CO2e and Scope 2 (market-based) at approximately 16.7 million kg CO2e. Scope 3 emissions for 2024 were reported at approximately 59.9 billion kg CO2e, with investments again being the dominant category at about 59.8 billion kg CO2e.

Intesa Sanpaolo has set a commitment to achieve Net-Zero emissions by 2050 across all its main business lines, including its own emissions and its lending and investment portfolios. More immediate targets include achieving carbon neutrality for its own emissions by 2030. The bank has also committed to reducing its Scope 1 and Scope 2 market-based emissions by 53% by 2030, compared to 2019 levels. Progress has been made, with a reported 35% decrease in CO2 (Scope 1+2) from 2019 to 2024. Furthermore, Intesa Sanpaolo aims for 100% of its purchased electricity to be from renewable sources by 2030 and has achieved approximately 95.3% in 2025.

The bank also holds near-term targets to reduce Scope 1 emissions to near zero by 2025 and Scope 2 emissions to near zero by 2025. There is also a commitment to reduce Scope 3 emissions by 40% by 2030, based on a 2019 baseline. For the Iron and Steel Sector, interim 2030 emission reduction targets aligned with Net Zero have been established, aiming to reduce emissions intensity by 23% from 1.05 tCO2/t steel in 2022 to 0.81 tCO2/t steel in 2030. Additionally, there is a Science Based Targets initiative (SBTi) commitment to reduce absolute Scope 1 emissions by 42% by 2030 from a 2024 base year.