Mediobanca has set the first intermediate climate objectives for the reduction of GHG emissions, in line with its adhesion to the Net-Zero Banking Alliance (NZBA) program. It can be read in the 2021-22 report on the Task Force on Climate-related Financial Disclosures which offers a complete overview of the Group’s approach to climate risks and opportunities.
The targets, aligned with a 1.5 ° C climate ambition and therefore with the objectives of the Paris Agreement, envisage – by 2030 – a reduction of emissions associated with proprietary credit exposure in the Power and Automotive sectors by 68 and 45% respectively .
Both objectives were defined on the basis of the Net Zero Emissions 2050 scenario, International Energy Agency (2021). “The adhesion to the Net Zero Banking Alliance and the consequent definition of the first intermediate targets strengthen the Group’s commitment to combat climate change and promote a low-carbon economy” says Alberto Nagel, Mediobanca’s CEO, who adds : “The publication of the first TCFD report also confirms the desire to transparently represent information relating to our environmental impact.”