(Finance) – Encourage inclusive and sustainable growth and the creation of long-term value for the benefit of the community. This is the commitment of Cassa Depositi e Prestiti (CDP) which presented the 2021 Integrated Report to the Shareholders’ Meeting today. The results – reads a note – are in line with the 2022-24 Strategic Plan and the four major challenges that CDP intends to pursue: climate change, growth inclusive, support for production chains, innovation and digitalization.
Thanks to the activity of the CDP Group “there was a positive boost to the economy“through loans to 17 thousand companies they have generated 54 billion in additional turnoveran impact equal to 1.57% of GDP and support for Italian employment with an estimate of around 400 thousand jobs created or maintained (of which 40% in favor of women and 20% of young people).
The initiatives implemented by CDP concern various fields of intervention: from support to employment levels and training to social housing and urban regeneration projects; from sustainable finance with the issuance of social bonds and basket bonds to green financing for the energy transition; from operations in favor of internationalization and international cooperation to investments in research and development to contribute to the innovation and digitization of the country.
Main results achieved and initiatives launched in 2021 in the various areas:
Governance: to strengthen the integration of sustainability in the Group’s governance, organization and risk management, the Articles of Association of CDP were amended with the integration of the principle of sustainable development; the responsibilities of the internal board risk committee have been extended, with the assignment of specific competences in ESG matters; CDP’s organizational structure was revised, with the creation of three separate Departments that deal with sustainability in an integrated way (Sector strategies and impact; Policy, evaluation and advisory; Communication, external relations and sustainability);
People, cohesion and social inclusion: the CDP Group’s commitment to people involved various projects aimed at enhancing human capital, promoting equal opportunities and promoting social inclusion. These include: Social housing initiatives, thanks to which in 2021 the CDP Group built over 1,800 accommodations in highly efficient buildings which benefited over 4,000 people; the construction of 3 new hospitals with over 1,500 beds and 150 buildings subject to energy redevelopment, 10 schools (including 4 school centers) and 3 university centers, which made it possible to accommodate over 8,000 students; the promotion of a work environment in CDP capable of promoting gender equality, with a 9% increase in women in the workforce and 3% in managerial positions (compared to 2020), in addition to the extension of the leave of the co -parent up to 30 days; the development of human capital and attention to training, both internally and externally, also thanks to the initiatives of the CDP Foundation for the younger generations;
Sustainable finance: in 2021 the CDP Group increased its commitment in favor of sustainable growth of companies with the issue of the 6th Social bond (for an amount of 500 million) in favor of companies in particular in the South, an operation which confirms the Group as leader in sustainable finance and first Italian issuer in social bonds, consolidating its position in the European market with a share of ESG bonds issued equal to 4.75 billion; the subscription of three Social bonds for a value of 185 million to support SMEs in disadvantaged areas of the country; alternative finance instruments, such as basket bonds, which made it possible to support 43 companies, 90% of which located in Central-Southern Italy;
Climate and environment: the CDP Group has taken up the challenge of the energy transition by financing over 3 billion in projects to combat climate change to facilitate the transition to a low-emission economy; recovering over 22,700 square meters of disused land to build 413 homes with social purposes for over 1,600 people.
Innovation and start up: the CDP Group is committed to the digital and technological transition of the country with loans of more than 900 million for research, development and innovation projects to over 580 companies (up 29% compared to 2020); new funds for start-ups and innovative SMEs and 4 digital platforms for business; loans of over 400 million for the internationalization of 17 companies on foreign markets for projects for the development of new plants with a high technological content.