Today, the Bank of Italy's second Annual report on sustainable investments and climate-related risks is being published. The report analyses the Bank's non-monetary policy portfolios and is divided into four chapters that illustrate the decision-making process, the investment strategies, the risk management system, the sustainability results achieved, and the objectives.
The report is published concurrently with similar documents from the ECB and other central banks of the Eurosystem, with which it shares a common reporting model based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
The report also responds to the commitments made by the Bank in 2021 with its Responsible Investment Charter to regularly disclose the results of its sustainable investment strategies for non-monetary policy portfolios and to contribute to the promotion of a sustainability culture in the financial system and among the public.
In the report, the Bank of Italy explicitly states the goal of managing its non-monetary policy investments consistently with the Paris Agreements and the European Union's climate objectives. The actual achievement of this goal will depend on the fulfillment of the climate neutrality commitments made by the companies and by the governments of the countries in which the Bank invests.
