The Sella Group's commitment to the environment

 

The Sella group aims to promote a sustainable economy both through the continuous improvement of its environmental performance and through its financial intermediation activities.

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The Group is fully aware that safeguarding the environment is a priority, and that adopting behaviours that reduce global warming and tackling climate change - thereby preserving the planet’s future - is an essential prerequisite for long‑term, healthy and sustainable development, as well as a responsibility shared by all, businesses and citizens alike.
Environmental sustainability therefore refers to the concept of responsibility of one generation towards others, and in particular towards future generations.

In this context, the strategy to tackle climate change - approved by the Board of Directors of the Parent Company - is therefore twofold:

  • supporting Clients in their transition journey through advisory activities, supported by a wide range of dedicated products and services, as well as by initiatives and actions that contribute to the achievement of this objective;

  • reducing the Group’s own CO₂ emissions and their related effects. Building on the strong results already achieved, the Group aims to continue implementing environmental‑impact mitigation initiatives in line with a decarbonisation pathway, based on scientific evidence, that is more ambitious than the 1.5°C trajectory set out in the Paris Agreement.

Group strategy to support clients in their transition journey

With regard to the environmental impact of the Group’s portfolio, the strategy to tackle climate change, approved by the Board of Directors of the Parent Company, provides for supporting clients in their transition journey through advisory activities, complemented by a comprehensive range of dedicated products and services.

Alongside the broader vision that positions the Group as a promoter of a sustainable economy also through its intermediation activities, in 2025 a transition plan was defined for sectors with high climate impact, involving both the loan portfolio and the financial assets within the proprietary portfolio.

The high‑climate impact sectors for which medium and long‑term targets have been defined, aligned with the Net Zero scenarios of the International Energy Agency (IEA), are: energy, fossil fuels, automotive, aviation, maritime transport, cement production, iron and steel, and chemical products.
In addition to these, the Real Estate sector, considered as properties pledged as mortgage collateral or leased assets, has been included. For this sector, specific targets have been set for new lending aimed at progressively steering the credit portfolio towards high‑efficiency buildings, thereby contributing to the decarbonisation of the sector.

A broad range of products and services dedicated to supporting the sustainable transition, both in the lending and financing areas, combined with high‑quality advisory, are essential elements to support Clients in improving their sustainability profile by providing solutions capable of meeting diverse needs.

For further details on the products and services offered, please refer to the section Clients and ESG offering.

Group strategy to reduce its own CO₂ emissions and related impacts

The strategy to tackle climate change, approved by the Board of Directors of the Parent Company, provides for reducing the Group’s own CO₂ emissions (“own emissions”) and their associated impacts. Over the years, the Group has implemented numerous initiatives that have led to a significant reduction in CO₂ emissions related to its own operations, despite the Group’s substantial growth.
The Group has chosen to continue its commitment in the fight against climate change by adopting an ambitious plan for further mitigation, based on a scientifically grounded decarbonisation pathway that is more stringent than the 1.5°C trajectory set out in the Paris Agreement.

For this reason, emission reduction targets for 2030 have been defined, with 2022 as the base year, in absolute emission values as follows:

  • Scope 1 and Scope 2 Market-Based methodology: 74% reduction, broken down as follows:
    - Scope 1 for the building component: 75% reduction
    - Scope 1 for the car fleet component: 80% reduction
    - Scope 2 Market-Based methodology: maintaining only emissions related to district heating, which depend on the decarbonization plans of steam-supplying utilities, and eliminating emissions associated with energy purchases in India and the United Kingdom;
  • purchase of electricity from renewable sources, both in Italy and abroad, equal to 100% of consumption.

In addition to these targets, defined in line with the guidelines publicly available from SBTi, two further "managerial" targets have been added:

  • self-production of electricity from renewable sources with a total installed capacity of approximately 17 MW by 2026. This capacity will allow for annual energy production substantially equivalent to the Group's total consumption;
  • monitoring of emissions avoided thanks to the Group's renewable energy production plants, both for the component intended for self-consumption and for that intended for sale to the grid operator, so that the environmental impact of electricity consumption, net of regulatory requirements defining self-consumption, is virtually zero. Considering the uncertainty related to the regulations governing the construction of photovoltaic plants, a prudent target of a 75% reduction in emissions calculated using the "adjusted" Location-Based methodology, i.e., measured by fully considering self-production, is defined.

To achieve these objectives, the Group has defined and started a transition plan that is based on the following decarbonization levers:

  • conversion of fossil fuel boilers through the installation of electric heat pumps serving the headquarters and branches;
  • modernization of the heat distribution network in the headquarters;
  • replacement of the type of refrigerant gas used in the air conditioning systems of headquarters and branches with one with a lower environmental impact;
  • containment of energy consumption and energy efficiency;
  • production of electricity from renewable sources through owned plants;
  • reduction of the environmental impact of corporate mobility.

In parallel, since 2021 the Group has decided to offset the impact of all residual CO₂ emissions, calculated using the Location‑Based methodology, arising from its own operations, and therefore excluding financed emissions linked to the customer portfolio. The residual emissions have been offset through the purchase of carbon credits associated with selected projects certified by third parties according to international standards such as the Verified Carbon Standard (VCS) and the Gold Standard.

During the 2021-2023 period, the Sella Group financed three initiatives in Europe, Africa and Central America, supporting projects focused on forest conservation, ecosystem protection and plastic recycling.

For the three-year period 2024-2026, the Group has decided to support the following projects, again through the purchase of certified carbon credits:

  • in India: two projects, one wind and one photovoltaic renewable energy generation project to reduce dependence on fossil fuels;
  • in Kenya: a project to distribute efficient cooking stoves to reduce emissions and improve the health conditions of the people who use them to prepare daily meals.

The Sella Group monitors updates to the environmental and social impact analyses relating to the financed projects, as well as any reputational aspects that may arise from various sources. In addition, the Group closely oversees developments in the voluntary carbon market and periodically assesses the evolution of its offsetting strategy, ensuring alignment with the consolidation of best practices.