Reducing Banca d'Italia's environmental footprint

Reducing Banca d'Italia's environmental footprint

Banca d'Italia has adopted a structured and systematic approach to reducing its environmental footprint since 2008, following the publication of its first Environmental Policy (updated in 2015). The main initiatives taken and the environmental indicators used were reported annually in the Environment Report, first issued in 2010 and updated until 2024. Since 2025, the contents of the Environment Report have been incorporated into the new Activity and Sustainability Report.

In 2026, the Bank published its first Transition Plan for Climate Change Mitigation and Adaptation, which sets out the strategy and actions to gradually reduce the carbon footprint of its operations towards net zero and to strengthen resilience to climate-related risks.

Objectives

The Bank aims to cut its greenhouse gas (GHG) emissions by 90 per cent by 2050 compared with 2019 (the last pre-pandemic year, used as the base year).

To achieve this target, a programme of short- and medium-term measures has been developed to:

  • reduce fossil fuel consumption through the electrification of heating systems;
  • increase self-generation of energy from renewable sources;
  • improve the energy performance of buildings and technological installations and optimize logistics and the use of space;
  • strengthen the resilience of buildings and work processes to climate change;
  • further reduce the environmental footprint of banknote production and circulation;
  • foster the decarbonization of the value chain and strengthen environmental partnerships with other public institutions.

Actions

The Bank has taken a number of steps to reduce its environmental impact, including:

  • since 2023, purchasing electricity generated exclusively from renewable sources;
  • installing six photovoltaic plants for the self-generation of electricity;
  • improving the energy efficiency of its buildings and two data centres;
  • digitalizing work processes;
  • using recycled paper and reducing both the number of printers and the printing of institutional publications;
  • reducing waste generation at source and gradually phasing out disposable plastic packaging;
  • sending 100 per cent of worn banknotes, shredded during the cash sorting process, to waste-to-energy recovery facilities;
  • encouraging sustainable mobility by increasing the number of electric cars, electric vehicle charging stations and bicycle racks;
  • reducing the environmental impact of business travel (e.g. by using high-speed trains where available);
  • including environmental and social clauses in procurement processes.

Results

The measures carried out have led to a significant reduction in GHG emissions, which in 2024 were around 26 per cent lower than in 2019.

Banca d'Italia's carbon footprint – 2010-24 CO2 equivalent emissions (1)

The chart illustrates the Bank's series of carbon dioxide equivalent emissions from 2010 to 2024, expressed as index numbers with 2019 = 100. The horizontal axis shows the years from 2010 to 2024, while the vertical axis displays the index values ranging from 0 to 300. The series of the Bank's carbon dioxide equivalent emissions features a discontinuity in 2019 due to a change in the reporting boundary. The chart therefore presents the values of the two series for 2010–2019 and 2019–2024, both expressed as index numbers: in 2010 the index value is 256, whereas in 2024 the index value is 84.

(1) (Indices: 2019 = 100). A reviewed methodology has been used since 2019 to calculate GHG emissions.

Positive results were also obtained in terms of reduced energy and resource consumption.

Compared with the previous year, in 2023: overall energy consumption for heating decreased by 13% (down by 22% on 2019); total electricity consumption remained stable (down by 11% on 2019); overall paper consumption for publications decreased by 32% (down by 47% on 2019)

The Bank's environmental commitment is reflected in eco-certifications issued by external bodies: the banknote production plant has been certified since 2004 under the ISO 14001 international environmental standard; the Centro Donato Menichella in Frascati – the site that consumes the most energy, mainly owing to the data centre it houses – has an energy management system certified under ISO 50001.

Environmental partnerships

The Bank participates in several working groups on environmental issues:

  • at the international level (including the Network for Greening the Financial System and the Network for the Review of GHG Protocol Standards on Calculating the Carbon Footprint of Organisations),
  • within the Eurosystem (Eurosystem Climate Change Forum and Environmental Network of Central Banks),
  • at the national level (UNI and ABILab).

It also collaborates with the Scuola Nazionale dell'Amministrazione, academia and research organizations: it recently conducted a study with ENEA on the environmental impacts of remote working.

In 2024 and 2025, in cooperation with the Carabinieri Forestry, Environmental and Agrifood Command Unit, the Bank implemented an urban afforestation programme, planting 7,200 trees in five areas across Italy. It also joined Rome's Climate City Contract.

The Bank has been participating in environmental awareness events for several years, including the National Energy Saving Day and Earth Hour.

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