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Rome, 21 May 2021 – Eni and the Italian Banking Association (ABI) have signed a Memorandum of Understanding (MoU) to improve dialogue and collaboration between the banking sector and Eni, and facilitate the economic transition towards more environmentally sustainable models. The MoU was signed by Antonio Patuelli, President of the Italian Banking Association, and Lucia Calvosa, Chairman of Eni, and will lead to the establishment of a joint working group.
ABI and Eni are aiming to identify issues of common interest and address sustainable development issues, and will also look to explore the application of EU sustainability criteria to financial products, the use of 'green' investments to promote sustainability, the promotion of widespread awareness of these issues, and opportunities to collaborate with the academic world.
The MoU sets out several action areas, in which ABI and Eni agree:
- to analyse the regulatory environment and discuss changes to promote at a national and European level, to assist in the transition towards a sustainable and future-proof economy;
- to evaluate the different types of sustainable investment in light of the EU taxonomy of sustainable economic activities (as updated and extended), as well the action areas of the European Investment Bank and other similar organisations;
- to review and promote 'green' financial instruments, potentially serving industrial sectors engaged in the transition towards sustainable models, which can be accounted for by banks in line with EU regulatory and supervisory indicators;
- to foster greater awareness of the importance of sustainability issues by promoting studies, research, conferences, seminars and training courses;
- to identify forms of cooperation, including with universities, with a view to setting up specialised degree courses on sustainability and sustainable finance;
The parties plan to meet annually to review progress.
The ABI-Eni initiative hinges on the growing awareness that sustainability and ESG (environmental, social and governance) factors can have an increasing impact on financial performance. As such, the world of finance will play a crucial role in the overall transition towards an economy that progressively reduces atmospheric emissions, cutting pollution and at the same time fostering the creation of new jobs and giving impetus to sustainable, long-lasting innovation.
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