Intesa Sanpaolo

Intesa Sanpaolo, an Italian financial intermediation services company, reported total carbon emissions of approximately 40.4 billion kg CO2e in 2025. This includes about 43.6 million kg CO2e from Scope 1, approximately 14.9 million kg CO2e from Scope 2 (market-based), and around 40.3 billion kg CO2e from Scope 3 emissions. A significant portion of Scope 3 emissions in 2025 came from investments, totalling approximately 40.2 billion kg CO2e.

Looking back, the company's total emissions were about 59.9 billion kg CO2e in 2024, comprising around 45.3 million kg CO2e from Scope 1, approximately 16.7 million kg CO2e from Scope 2 (market-based), and about 59.9 billion kg CO2e from Scope 3, with investments being the largest contributor at approximately 59.8 billion kg CO2e. In 2023, there is no disclosed total emissions figure, but Scope 1 emissions were approximately 50.5 million kg CO2e and Scope 2 (market-based) were about 18.6 million kg CO2e. Scope 3 emissions in 2023 were primarily from employee commute (approximately 58 million kg CO2e) and upstream transportation and distribution (around 12.5 million kg CO2e).

Intesa Sanpaolo has set ambitious climate commitments. The company aims for Net-Zero emissions by 2050 across all its main business lines, including its own operations and its lending and investment portfolios. Near-term targets include achieving carbon neutrality for its own emissions and sourcing 100% of its electricity from renewable sources by 2030. Furthermore, Intesa Sanpaolo commits to reducing absolute Scope 1 and Scope 2 (market-based) emissions by 53% by 2030, compared to a 2019 baseline. The company has also achieved a 35% reduction in Scope 1 and 2 emissions between 2019 and 2024. For Scope 3 emissions, Intesa Sanpaolo has a 40% reduction target by 2030 against a 2019 baseline. In 2023, specific interim targets were elaborated for the Iron and Steel Sector, aiming to reduce physical intensity by 23% from 1.05 tCO2/t steel in 2022 to 0.81 tCO2/t steel by 2030.

The Science Based Targets initiative (SBTi) has verified Intesa Sanpaolo's near-term targets as consistent with keeping warming to 1.5°C. Their portfolio targets cover 8% of total investment and lending as of 2022. Additionally, the company commits to reducing absolute Scope 1 emissions by 42% by 2030 from a 2024 base year and maintaining zero Scope 2 emissions through 2030, while also measuring and reducing Scope 3 emissions from a 2024 base year.