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ESG Ratings & Indices

A testimony to our commitment.

ESG rating (or sustainability rating) is a synthetic evaluation that certifies the soundness of an issuer, a security or a fund in terms of environmental, social and governance performance.

As proof of the Group’s commitment and ongoing improvement in this area, the ratings of BPER Banca are provided below:

Standard Ethics Rating (SER)

Standard Ethics is an independent sustainability ratings Agency.

In 2025, the Agency upgraded BPER Banca’s Corporate Standard Ethics Rating (SER) to “EEE-” from the previous “EE+” with a Positive Outlook (range from "F" to "EEE").

Sustainable Fitch

Sustainable Fitch's ESG Ratings offer a global solution to assess Environmental, Social and Governance performance of all asset classes at an entity, framework and instrument level,helping the ESG financial community make better, informed decisions.

In 2025 Sustainable Fitch has affirmed BPER BancaS.p.A.'s ESG Entity Rating at '2' (range from 5 to 1, where 1 is the best) and its entity score at 63.

MSCI ESG Ratings

MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.

In 2025, BPER Banca received a rating of AA (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.

S&P Global Sustainable1

The S&P Global Corporate Sustainability Assessment (CSA) is aimed at companies seeking to obtain an independent assessment of their performance, through a wide range of sector-specific economic, environmental and social criteria.

BPER Banca scored 69 (out of 100) in the 2024 S&P Global Corporate Sustainability Assessment reflecting an improvement of 9 points compared to 2023 (CSA score as of 29/10/2024).
BPER has been selected as a Sustainability Yearbook Member and listed in The Sustainability Yearbook 2025. The ranking lists companies within the top 15% of their industry that achieved a minimum score falling within 30% of their industry’s top performing company.
S&P Global Corporate Sustainability Assessment (CSA)
The S&P Global Corporate Sustainability Assessment (CSA) leads the field in helping companies make the link between sustainability and their business strategies. Covering over 12,000 companies globally, the CSA is an annual evaluation of a company’s sustainability practices.

BPER Banca scored 77 (out of 100) in the 2025 S&P Global Corporate Sustainability Assessment reflecting an improvement of 8 points over the last year. (CSA Score as of 30/07/2025).

Finally, BPER was selected by S&P as a Sustainability Yearbook Member and included in the prestigious S&P Global Sustainability Yearbook 2026.
The yearbook includes companies that are within the top 15 percent of their industry by score and that have scored within the top 30 percent of the best performing companies.
ISS ESG
The Institutional Shareholder Services (“ISS”) group of companies supports investors and companies in building long-term sustainable growth by providing high-quality data, analysis, and insights.

In 2025, BPER Banca’s ISS ESG Corporate rating is C (range from D- to A+).
Morningstar Sustainalytics
Morningstar Sustainalytics, is a leading ESG research, ratings and data firm that supports investors around the world with the development and implementation of responsible investment strategies.

As of September 2025 BPER Banca received an ESG Risk Rating of 14.9 from Morningstar Sustainalytics and was assessed to be at “Low risk” of experiencing material financial impacts from ESG factors. In no event the ESG Risk Rating shall be construed as investment advice or expert opinion as defined by the applicable legislation.*

Carbon Disclosure Project (CDP)

The Carbon Disclosure Project is an international non-profit organisation that allows companies to declare and report on their risks linked to climate change and communicate their environmental performance to stakeholders.

In 2025 BPER Banca obtained a rating upgrade to “A-” for the management of issues relating to climate change (range from “D-” to “A”).
S&P Global Corporate Sustainability Assessment (CSA)
The S&P Global Corporate Sustainability Assessment (CSA) leads the field in helping companies make the link between sustainability and their business strategies. Covering over 12,000 companies globally, the CSA is an annual evaluation of a company’s sustainability practices.

BPER Banca scored 77 (out of 100) in the 2025 S&P Global Corporate Sustainability Assessment reflecting an improvement of 8 points over the last year. (CSA Score as of 30/07/2025).

Finally, BPER was selected by S&P as a Sustainability Yearbook Member and included in the prestigious S&P Global Sustainability Yearbook 2025.
The yearbook includes companies that are within the top 15 percent of their industry by score and that have scored within the top 30 percent of the best performing companies.
ISS ESG
The Institutional Shareholder Services (“ISS”) group of companies supports investors and companies in building long-term sustainable growth by providing high-quality data, analysis and insights.

In 2024, BPER Banca’s ISS ESG Corporate rating is C (range from D- to A+).
S&P Global Sustainable1
The S&P Global Corporate Sustainability Assessment (CSA) is aimed at companies seeking to obtain an independent assessment of their performance, through a wide range of sector-specific economic, environmental and social criteria.

BPER Banca scored 69 (out of 100) in the 2024 S&P Global Corporate Sustainability Assessment reflecting an improvement of 9 points compared to 2023 (CSA score as of 29/10/2024).
BPER has been selected as a Sustainability Yearbook Member and listed in The Sustainability Yearbook 2025. The ranking lists companies within the top 15% of their industry that achieved a minimum score falling within 30% of their industry’s top performing company.
CDP

The Carbon Disclosure Project is an international non-profit organisation that allows companies to declare and report on their risks linked to climate change and communicate their environmental performance to stakeholders.

In 2023 BPER Banca obtained a rating upgrade to "A-" for the management of issues relating to climate change (range from "D-" to "A").

Morningstar Sustainalytics
Morningstar Sustainalytics, is a leading ESG research, ratings and data firm that supports investors around the world with the development and implementation of responsible investment strategies.

As of September 2025 BPER Banca received an ESG Risk Rating of 14.9 from Morningstar Sustainalytics and was assessed to be at “Low risk” of experiencing material financial impacts from ESG factors. In no event the ESG Risk Rating shall be construed as investment advice or expert opinion as defined by the applicable legislation.*
Moody's Analytics
Moody’s Analytics provides reliable and transparent data and perspectives across multiple risk areas to help market participants identify opportunities and manage evolving risks related to business activities.
 
In 2024, Moody’s assessment of BPER Banca was “Advanced” (range from “Weak” to “Advanced”). The ESG score improved from 59 to 63/100 in July 2024.
ISS ESG

The Institutional Shareholder Services ("ISS") group of companies supports investors and companies in building long-term sustainable growth by providing high-quality data, analysis and insights. 

In 2024, BPER Banca's ISS ESG Corporate Rating is C (range from D- to A+).

Morningstar Sustainalytics

Morningstar Sustainalytics is a leading ESG research, ratings and data firm that supports investors around the world with the development and implementation of responsible investment strategies.

In 2024, BPER Banca received an ESG Risk Rating of 12.7 and was assessed by Morningstar Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors. In no event the ESG Risk Rating shall be construed as investment advice or expert opinion as defined by the applicable legislation.*

Moody's Analytics

Moody’s Analytics provides trusted and transparent data and perspectives across multiple areas of risk to help market participants identify opportunities and manage the continuously evolving risks of doing business.

In 2024, Moody’s assessment of BPER Banca’s ESG performance was “Advanced” (range from “Weak” to “Advanced”). The ESG score improved from 59 to 63/100 as of July 2024.

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*Copyright ©2025 Sustainalytics, a Morningstar company. All rights reserved. This section includes information and data provided by Sustainalytics and/or its content providers. Information provided by Sustainalytics is not directed to or intended for use or distribution to India-based clients or users and its distribution to Indian resident individuals or entities is not permitted. Morningstar/Sustainalytics accepts no responsibility or liability whatsoever for the actions of third parties in this respect. Use of such data is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers/

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The ESG indices in which
BPER Banca is included

FTSE4Good Index Series: FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that BPER Banca has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.

MIB ESG (Italian Stock Exchange): is dedicated to domestic blue-chips, with the aim of grouping together large Italian listed issuers with ESG best practices. The index, launched in 2021 by Euronext in collaboration with Vigeo Eiris, combines the measurement of economic performance with ESG assessments in line with the principles of the UN Global Compact.

 

SE (Standard Ethics) Italian Index: index comprising the 40 largest Italian listed companies. The purpose of the Standard Ethics Italian Index is to measure, over time, the stock market's confidence concerning OECD, EU and UN voluntary guidelines and indications on Sustainability and Corporate Governance.

SE (Standard Ethics) Italian Banks Index: index that includes all Italian banks listed on the Italian Stock Exchange The purpose of the Standard Ethics Italian Banks Index is to measure, over time, the stock market's confidence concerning OECD, EU and UN voluntary guidelines and indications on Sustainability and Corporate Governance.

SE (Standard Ethics) European Banks Index: index that includes the 40 major European listed banks The purpose of the Standard Ethics European Banks Index is to measure, over time, the stock market's confidence concerning OECD, EU and UN voluntary guidelines and indications on Sustainability and Corporate Governance.

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