ESGeneration Italy – Memorandum of Understanding
Introduction and objectives
Borsa Italiana, Italian Sustainable Investment Forum (ItaSIF) and Italian Banking Insurance and Finance Federation (FeBAF) share the usefulness and strategic importance of ESGeneration Italy.
The foundation of ESGeneration Italy aims to allow the Italian financial community to have an active role in the promotion and positioning of Italy as an excellence in terms of sustainable finance both nationally and internationally, thus being an interlocutor in the international context dealing with the topic, and to contribute to the dissemination of a sustainable finance culture in Italy by sharing analyses and best practices.
This initiative moves in continuity with the commitment that characterizes the work of Borsa Italiana, ItaSIF and FeBAF in terms of sustainability and in the wake of the works concluded in 2019 by the Observatory on Sustainable Finance at the Ministry of the Environment. In fact, the three organizations led the work of the Working Group for the founding of the Italian Financial Center for Sustainability, assuming its representation within the International Network of Financial Centers for Sustainability (FC4S) promoted within to the last Italian-led G7.
Adhesion to shared principles
ESGeneration Italy refers to the principles of the ‘National Dialogue on Sustainable Finance’ summarized in the report Finance the Future (December 2016).
It is inspired – like each of the three founding organizations – by the principles of: i) promotion of ESG criteria, ii) transparency and iii) medium-long term perspective, which are also contained in the “Charter of Sustainable and Responsible Investment of Italian finance” signed in 2012 and which are also confirmed in the elaboration of the definition of “Sustainable and Responsible Investment” prepared by ItaSIF in collaboration with its members in 2014.
These principles are all the more appropriate in light of the new guidelines from the European Commission and the political, economic and social response strategies to the Covid-19 pandemic.