Banca Intesa expects significant green financing deals in Russian mining and metals sector in coming two years
KAZAN. June 18 (Interfax) - Banca Intesa, the Russian subsidiary bank of Intesa Sanpaolo Group, is negotiating green finance deals with companies in the Russian metallurgical sector, discussing allocation of 800-900 million euros for 5 years with one company in particular, Antonio Fallico, chairman of the bank's board of directors and president of the Conoscere Eurasia Association, told Interfax.
"As for steel production, in the coming two years rather substantial projects in this area are expects, we are ready to participate in this, first and foremost in the part concerning reduced environmental impact. This concerns the group as a whole and our Banca Intesa - a Russian bank, we are interested in this work, Fallico said on the sidelines of the "Innovative Enterprises and Technologies in Kazan and the Republic of Tatarstan" session at the Verona Eurasian Economic Forum on Friday.
Fallico did not specify the company which could receive €800-900 million in green financing but said that it is "number one" in the metallurgical industry in Russia.
In general, leading Russian companies are beginning to allocate substantial funds to reduce the negative environmental impacts of all existing projects, he said.
"Our internal code of ethics of the bank stipulates that we should give priority, special attention to green financing, green transformation, digital transformation and that digital transformation should also be green, environmentally friendly. In Russia, we are also interested in supporting this type of financing. We can see that Russia is not sleeping in this part, that it has started to work intensively in this direction, we are very positive about this fact," Fallico said.
In Q1 2021, Banca Intesa ranks 71st in terms of assets in the Interfax-100 ranking prepared by Interfax-CEA.