The Mediobanca Group continues its progress towards decarbonization scope 1 and 2 CO2 emissions offset for FY2023-24

The Mediobanca Group has offset its residual CO2 emissions[1]1] for FY 2023-24, involving a total of 2,602 tons of CO₂eq, in accordance with its commitment to decarbonization and in line with the leading sustainability reporting standards.

This initiative is consistent with the decarbonization objectives included in the 2023-26 Strategic Plan "One Brand-One Culture”, which targets the offset of GHG emissions produced directly by the company's own assets (Scope 1) and indirect emissions derived from the acquisition of electricity and thermal energy (Scope 2), now merely residual due to the priority given to use of energy from renewable sources.

Neutralization of the residual emissions, achieved in conjunction with Rete Clima, the non-profit organization that partners with companies in their sustainability and decarbonization programmes, has involved acquiring carbon credits certified according to VCS-Verra standards in connection with the Larimar Wind Farm energy project. By acquiring these credits, Mediobanca has participated in the financing of two wind farms located in the Enriquillo region, which contribute to reducing greenhouse gas emissions in the Dominican Republic, where the electricity grid is highly dependent on fossil fuel power stations.

As well as aiming to produce clean energy through the use of wind power, the project is geared towards generating an impact at local level through training programmes and the transfer of skills and expertise to improve employment prospects and economic opportunities for the local communities.

“We are delighted to confirm our commitment to the decarbonization process through initiatives such as the Larimar Wind Farm project. We will continue our efforts to reduce our impact on the environment and promote the use of renewable energy, in line with our 2023-26 Strategic Plan “One Brand-One Culture”, said Giovanna Giusti del Giardino, Mediobanca Group Chief Sustainability Officer.

Milan, 15 January 2025