(Finance) – Standard Ethics, at the end of the annual review process of the opinion, has improved long-term sustainability rating Of Banca Popolare di Sondrio carrying it from “EE” stable to “EE +”, the third notch out of nine on the scale used by the independent international agency for assessing the sustainability of companies and states. The corporate rating was confirmed at “EE”, placing Banca Popolare di Sondrio among the banking institutions with the best rating in the Italian panorama.
Standard Ethics points out that the bank recently completed the transition from a joint stock cooperative to a joint stock company, with analysts who believe that “the rich experience deriving from the tradition of cooperative banks will be kept alive and the Bank’s bond with the territory and the culture of its stakeholders will be maintained”. “There transition has been carefully managed and appears to have a favorable impact on ESG areas (Environmental, Social and Governance), in particular those relating to Governance – it is added – For this reason the long-term rating (Long Term Expected SER) has been raised from “EE” to “EE +”.
During 2021 and in the first part of 2022, the bank made several implementations in line with international sustainability guidelines and the latest social and environmental objectives, explains the London-based rating agency. “Further changes to its Sustainability governance and related documents are expected.Medium to long-term outlook is positive“is the conclusion of Standard Ethics.