“By maintaining and developing risk control safeguards, we must seize the opportunities in terms of business and strategies” for banks “and of inclusion and offer for customers through growing digitization and attention to the issue of sustainability”. This was stated by the deputy general manager of the Bank of Italy Alessandra Perrazzelli in her speech to the executive committee of the ABI according to which “ESG and digitization require banks to adapt their business models and strategies to the challenges posed by the energy and digital transition, reviewing the risk management processes”.
“Although these two issues may seem distinct, in reality they are strongly interconnected” he added, underlining that, as also emerged from a recent survey by the central institute, “the difficulty in finding robust and reliable data represents the greatest obstacle to defining an adequate governance system that allows the incorporation of data into corporate operational processes, within a structured framework for the correct identification, monitoring and management of climate-related risks”