Brief

Summary:

The main results of the analysis of action plans developed by Less Significant Institutions (LSI) and non-bank intermediaries have been published. The plans aim to integrate climate and environmental risks into medium-term business strategies, governance systems, and risk management frameworks. Additionally, an update on best practices observed and initial evidence from the analysis of Italian banks' ESG (environmental, social, and governance) risks and impacts have been provided.

Sono stati pubblicati i risultati principali dell’analisi dei piani di azione sviluppati dalle Less Significant Institutions (LSI) e dagli intermediari non bancari. Questi piani sono volti a favorire, nel medio termine, una progressiva integrazione dei rischi climatici e ambientali nelle strategie aziendali, nei sistemi di governo e controllo e nel risk management framework. Inoltre, è stato fornito un aggiornamento delle buone prassi osservate e presentate le prime evidenze emerse dall’analisi degli impatti contabili e delle disclosure dei rischi ESG (ambientali, sociali e di governance) delle banche italiane.

Highlights content goes here...

Summary

The main results of the analysis of action plans developed by Less Significant Institutions (LSIs) and non-bank intermediaries have been published. The aim of these plans is to integrate climate and environmental risks into business strategies, governance systems, and risk management frameworks over the medium term. Additionally, an update on best practices observed and initial evidence from the analysis of the financial impacts and disclosure of ESG (environmental, social, and governance) risks of Italian banks has been provided.

To elaborate further, the analysis of action plans aims to assess the progress made by LSIs and non-bank intermediaries in integrating climate and environmental risks into their business strategies and risk management frameworks. The action plans are designed to achieve this goal through a series of measures, including the development of ESG risk management practices, improvement of disclosure practices, and integration of climate and environmental considerations into business operations.

The analysis has identified several best practices observed among LSIs and non-bank intermediaries, including the development of ESG reporting, integration of climate and environmental risks into business strategies, and enhancement of risk management practices. The analysis has also provided initial evidence on the financial impacts of ESG risks on Italian banks, highlighting the importance of ESG disclosure and the need for further investment in ESG risk management practices.

Overall, the publication of the main results of the analysis is an important step towards promoting the integration of climate and environmental risks into the business strategies and risk management frameworks of LSIs and non-bank intermediaries. It is expected that the publication of the analysis will contribute to raising awareness about the importance of ESG risk management and disclosure, and will provide a valuable resource for LSIs and non-bank intermediaries seeking to improve their ESG risk management practices.

Bank of Italy

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