After the first objectives defined last year relating to highly carbon-intensive sectors, such as electricity production and the extraction, processing and distribution of oil and gas, BPER, following its membership of the Net-Zero Banking Alliance ( NZBA) of 2022, has identified further decarbonisation objectives for its portfolios for three other sectors with high emission intensity.

The Bank has integrated the pursuit of the objectives set into its business, starting from the evolution of credit policies and processes and the structuring of financing solutions to support businesses in realizing their eco-sustainable transition paths.

The calculation of the objectives of the Iron and Steel and Aluminum sectors, for 2030, refers directly to the Net Zero 2050 scenario defined by the International Energy Agency (IEA), in line with the requirements of the Net-Zero Banking Alliance.

Iron and Steel Sector: 27% reduction in emission intensity at portfolio level, from a base of 275 tonnes of CO2 equivalent per million euros disbursed in the sector (275 tCO2e/€m) in 2023 to an average value of 201 tonnes of CO2 equivalents per million euros disbursed in the sector (201 tCO2e/€m) by 2030. The objective set refers to financed emissions equal to 127 thousand tonnes of CO2 equivalent (127 thousand tCO2e), concerns iron and steel production activities and takes into consideration the Scope 1 and 2 emissions of companies.

Aluminum sector: 24% reduction in emission intensity at portfolio level, from a base of 460 tonnes of CO2 equivalent per million euros disbursed in the sector (460 tCO2e/€m) in 2023 to an average value of 350 tonnes of CO2 equivalents for millions of euros disbursed in the sector (350 tCO2e/€m) by 2030. The objective set refers to financed emissions equal to 74 thousand tonnes of CO2 equivalent (74 thousand tCO2e), concerns aluminum production activities and takes into consideration the Scope 1 and 2 emissions of companies.

Commercial Real Estate Sector: a 47% reduction in emission intensity at the level of the financed property is expected, from a base of 37 kilograms of CO2 equivalent per square meter (37 kgCO2e/m2) in 2023 to an average value of 19 kilograms of CO2 equivalents per square meter (19 kg CO2e/m2) by 2030. The objective set refers to financed emissions from properties in the portfolio equal to to 150 thousand tonnes of CO2 equivalent (150 thousand tCO2e) and concerns commercial real estate mortgages financed by the Bank.

The calculation of the objective, for 2030, refers directly to the reference scenario of the Carbon Risk Real Estate Monitor (CRREM), specific for the real estate sector developed at an Italian level to achieve net zero CO2 emissions by 2050.

BPER recognizes its role in supporting corporate clients through financing sustainable properties and improving the energy efficiency of existing stock; however, the decarbonisation of the sector also depends on the actions of all parties involved, including the implementation of public policies to support the energy transition, such as the EU Directive on the energy performance of buildings* to be implemented at national level.

*Energy Performance of Buildings Directive (European Commission)