We gear our decisions towards ensuring compatibility between economic initiative and environmental requirements in accordance with the regulations and codes of conduct in force.
Our commitment to the environment in practical terms involves responsible management of natural resources through ongoing monitoring of the emissions produced by us with the objective of reducing our direct and indirect impact on the environment, as stated in our Group Sustainability Policy and Group Policy on responsible lending and investing.
This commitment is reflected by our approach to energy procurement, with 100% of the electricity purchased in Italy deriving from certified renewable sources.
100% of the electricity we purchase in Italy comes from certified renewable sources, thus saving 6,425 tons of CO2 emissions
- emissions produced by the direct consumption of energy, such as gas and oil for heating and fuel for company vehicles;
- emissions produced by the consumption of electricity purchased from power providers;
- business travel by our employees.
|Direct energy consumption (Unit Gj2)||2018-19|
|Direct energy consumption 1||59,882.74|
|From non-renewable sources||25,111.42|
|Natural gas 3||24,715.21|
|From company cars4||34,771.32|
|Indirect energy consumption (Unit Gj)||2018-19|
|Indirect energy consumption 5||87,331.90|
|From non-renewable sources||9,586,10|
|From renewable sources||76,813.28|
|From non-renewable sources6||932.52|
|From renewable sources||0|
|Direct and indirect CO2 emissions7 (Unit TonCo2)||2018-19|
|Direct emissions (Scope 1)||4,051.82|
|From non-renewable sources (natural gas, diesel)||1,436.82|
|From company cars (petrol and diesel)||2,588|
|Indirect emissions (Scope 2) MARKET BASED||891.75|
|From electricity and thermal energy||891.75|
|Indirect emissions (Scope 2) LOCATION BASED||7,500.99|
|From electricity and thermal energy||7,500.99|
|Indirect emissions deriving from company mobility (Scope 3)8||2,753.96|
|Third-party car services||28.43|
|Paper consumption (Unit Ton9)||2018-19|
|Paper consumed (A4)||269.50|
|Paper consumed (A3)||2.38|
|Paper consumed (A5)||0.32|
|Paper for commercial uses (business cards and headed paper)||
3. Consumption by Cairn Capital Group Limited not monitored (no details available for consumption by the building at which its offices are located)
4. Data on fuel consumption for CMB is unavailable as fuel consumption is paid directly by the employees with no refund
5 Where indirect energy consumption figures are not available estimates have been used: for shared building expenses of which the precise share cannot be calculated, consumption has been estimated on the basis of the floor space in the building occupied. For bills still to be received, consumption has been estimated based on the previous year’s figures
6. Thermal energy has been reported on a prudential basis as non-renewable, as the supplier has not issued the required certification to guarantee that exclusively non-renewable sources have been used
7. For direct emissions (scope 1), indirect emissions (scope 2) and company cars (scope 3), we have used the emission factors recommended in the “Guidelines on application of GRI (Global Reporting Initiative) environmental indicators in banks” released by the Italian banking association (ABI) and compiled in the Italian Greenhouse Gas Inventory 1990-2015 – National Inventory Report 2017 – by ISPRA (Istituto Superiore per la Protezione e la Ricerca Ambientale). For direct emissions deriving from air and train travel, we have used the emissions factors recommended in the ABI guidelines compiled respectively by the ICAO (International Civil Aviation Organization) and the UIC (Union Internationale des Chemins de Fer) via Ecopassenger
8. For indirect emissions (scope 3), estimates have been used in cases where no data was available for recent months, based on the consumption figures recorded in the months prior to that; consumptions figures for CMB have not been monitored, as the data was not provided by the travel agency used during the reporting period, hence it is impossible to calculate the emissions from them
9. For paper consumption, estimates have been used where data for recent months is unavailable, basing the estimates on the consumption figures recorded in the months prior to that.
For more information visit “Environment” section on