Banco BPM SpA

In fact, a specific Sustainability Committee was set up by board resolution of 26 April 2023, also pursuant to Recommendation 1, letter a) of the Code of Corporate Governance in order to further develop what had been ensured up to then by the Internal Control, Risk and Sustainability Committee (concurrently renamed the \"Internal Control and Risk Committee\"). The Sustainability Committee offers support in the assessment and in-depth analysis of ESG issues related to the Bank's operations and in the approval of strategic guidelines and policies on sustainability, including the social and cultural responsibility model and the fight against climate change, helping to ensure the best control of risks and taking into account the objectives of solid and sustainable creation and distribution of value for all stakeholders.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The process in place to align engagement activities with climate strategy consists in an escalation and approval mechanism. According to this mechanism, the ESG Operating Committee makes a formal proposition to the ESG Management Committee, which evaluates independently the initiative (such as adhering to an international protocol or to an international industry initiative such as the TCFD). The ESG Management Committee decides if the proposition matches the ESG position and goals of Banco BPM, and consequently the proposal is approved, refused, or further evaluated.
Specifically, the ESG Management Committee has the responsibility of providing guidelines for strategic decisions on ESG issues, including climate change, and supplying the top management with solutions. The ESG Management Committee is chaired by the CEO and counts among its members other top management referents, such as a member of the Internal Control, Risks, and Sustainability Committee. The ESG Management Committee is supported, since February 2021 by an ESG Operating Committee, chaired by the Head of Communication and managed by the Sustainability and Governance managers. The ESG Operating Committee meets periodically with the ESG Management Committee, oversees progress toward ESG targets and supervise the 7 workstreams dedicated to the different ESG topics (Governance; Risk & Credit; People; Clients – Business; Clients – Wealth Management; Environment; Stakeholder Engagement & Measurement). Climate change-related issues are discussed by different workstreams. In particular, workstream–Environment promotes initiatives and programs to further reduce environmental impacts; workstream–Risk & Credit addresses the integration of climate-related and environmental risks within the risk and lending process. Thanks to the 7 workstreams, Banco BPM ensures a common approach to all its climate-related activities and remains consistent with the climate strategy outlined by the Strategic Plan. Furthermore, since 2021, more than 50 employees have been trained and appointed as ESG Ambassadors, with the duty to act as focal points within the related corporate department and with the responsibility of spreading the ESG culture and facilitating the implementation of ESG initiatives.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes