Sustainable finance for the protection of the environment and the fight against climate change, the commitment of banks for lasting economic and social development. These are the themes at the center of the training week dedicated to sustainability and the fundamental support given by the banking world to the transition towards more environmentally conscious and inclusive economic models, promoted by Abi and organized by ABIFormazione. Opening today in Milan, the week dedicated to ESG factors (acronym from English Environmental, Social and Governance) is an important opportunity for discussion and reflection between banking operators, representatives of institutions and supervisors on key issues for the transition, on role of the banking sector, on the regulatory context in which it operates, and on the economic scenario in which public institutions, not only at national level, must play an important driving role.
On these issues at the opening of the training seminar, Giovanni Pirovano, Chairman of Banca Mediolanum, member of the Board and of the Executive Committee and permanent guest of the ABI Presidential Committee with responsibility for issues relating to Innovation and Sustainability, declared: " Banks, called to play a leading role in directing capital flows towards a green and inclusive economy, support the commitment of European institutions for the development of sustainable finance and are alongside companies that are committed to this path of transition, integration of environmental and social factors and management of activities. However, an excessive and disproportionate burden cannot fall on the sector, the commitment must be for everyone. "Banks - as the President of ABI, Antonio Patuelli expressed, on the occasion of the annual Assembly of the association - must not be seen as substitutes for the authorities and public functions and must not be burdened by additional capital requirements" .
“The new challenge we face - affirmed the Councilor for Environment and Climate of the Lombardy Region Raffaele Cattaneo - is to demonstrate that the environment is the new name for development. In fact, sustainable development looks to all sectors and is the only possible development model, not only for the environment, but also for the economy and finance. Lombardy Region wants to accompany this transition, a priority for our economic and financial system, in order to maintain the leadership positions that characterize it. The investment in the green - concluded the commissioner Cattaneo - is already today a choice of value, which also allows an economic return to those who follow this path, and will be increasingly so in the future. Sustainability also means competitiveness for the economic-financial world ".
In a context of strong tensions at the level of international energy and geopolitical policies, and acceleration of climate change, the path of the PNRR - the National Recovery and Resilience Plan - which provides for huge investments dedicated to the transformation of the country with a view to sustainability represents a important occasion. The transition towards a sustainable economy therefore becomes more than ever an inescapable priority in the context of actions to support the recovery of the European and Italian economy.
In the cycle of meetings promoted by ABI in collaboration with ABIFormazione, the integration of the ESG dimensions in the management, risk management and reporting of banks will be analyzed as well as the new evolutionary trends in terms of investment and credit-related products and services. account of the sustainability factors.