Abstract
Several scholars have recently devoted significant effort to deepening our knowledge about the green banking approach and its implications for sustainability. Moreover, a growing number of banks have been going green worldwide, and therefore there is a need to explore green banking practices.
Starting from these considerations, this chapter investigates a number of ways in which Italian banking is going green. To this end, the work aims to (1) conduct a review of the literature on this issue; (2) provide an overview of the main regulations and policies for green banks; and (3) present some of the main initiatives adopted by two major Italian banks.
The study offers useful insights for those concerned with current Italian green banking approaches by adding knowledge to the international debate.
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Notes
- 1.
Although the chapter is the result of a collaborative effort between authors, each author takes responsibility for her contribution. In particular, Giuseppina Procopio is responsible for the Sects. 9.3 and 9.6.2; Prof. Dr. Annarita Trotta is responsible for the Sects. 9.1, 9.2, 9.6 and 9.7; Eugenia Strano is responsible for the Sects. 9.4 and 9.6.1. Finally, Dr. Antonia Patrizia Iannuzzi is responsible for the Sect. 9.5.
- 2.
An important contribution is provided by the Technical expert group on sustainable finance (TEG) that will operate until June 2019, with a possible extension until year-end 2019. The TEG’s role is to assist the European Commission in developing the new regulations that can be grouped in four areas. The first area concerns the development of a taxonomy of the sustainability finance with the aim to determine whether an economic activity is environmentally sustainable. The second area regards the identifications of the European Union (EU) Green Bond Standards. The third area aims to establish the benchmarks for low-carbon investment strategies, while the fourth area aims to enhance and improve the corporate communication of climate change information. The TEG commenced its work in July 2018 and includes 35 members from civil society, academia, business and the finance sector, as well as ten additional members from EU and international public bodies work.
- 3.
In detail, in the text, we will use the following abbreviations: (1) UniCredit 2016a, which refers to the 2015 IR (published in March 2016); (2) UniCredit 2017a, which refers to the 2016 IR (published in April 2017); (3) UniCredit 2018, which refers to the 2017 IR (published in April 2018); (4) and UniCredit 2019b, which refers to the 2018 IR (published in April 2019).
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The Authors thank the Editors—Professor Mario La Torre and Dr Helen Chiappini—for the opportunity to contribute to this book. They also wish to extend their gratitude to the anonymous reviewers for their useful comments.
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Procopio, G., Trotta, A., Strano, E., Iannuzzi, A.P. (2020). Green Banking in Italy: Current and Future Challenges. In: La Torre, M., Chiappini, H. (eds) Contemporary Issues in Sustainable Finance. Palgrave Studies in Impact Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-40248-8_9
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