Tempini (CDP): "We have to remind ourselves that we are on the eve of an important European transformation"

Giovanni Gorno Tempini, Presidente di CDP, in occasione della prima giornata dell'Euronext Sustainability Week, ha dichiarato: 

"Good morning everyone and on my side as well, thank you for inviting me to this interesting and important event. Before entering into the specific question, allow me to make a few general comments. As an introduction, connected towards the  founders already said and Massimo as well. There are two concepts that that I'd like to share with you. You know, the fact that we call it ESG has always meant that the E become, is more important than business, and I think that one of the new frotiers is that E and S are going more and more aligned fashion, and that is a reminder of what is needed in terms of the cultural challenghe that is ahead of us, in terms of business praticipant, because it's not just about the environment it is not only about the cost of planting trees, as it has been said before, but it's more importantly what the effect that the ESG idea as on the way we operate.

And, by the way, just to make it clear, I am completelty convinced that what we are trying to achieve is right. It is a just way of doing business, but, at the same time we need to be more conciuous of the fact that it's about the environment in wich we live and it is about the people that are the fundamental element of any ecoomic system and then take me to the second point. When we talk about ESG, the first examples that come in to mind is that the obvious: heavy industry like automotive and trasportation; and it is not so. When we talk about ESG, it is a concept that spread across every aspect of economy and all sectors. Thinking about agriculture, the use of land in long term, thinking about financial system and I'll get to there in a second. Thinking about manufacturing, think about Real Estate, the use of space, the use of materials. So it is really a very pervasive cultural shift that is taking place.

Being in the financial secot, talking about finance and banking and also thinking about what Massimo just said about clarity of rules, we have to remind ourselves that we are on the eve of an important European transformation wich is the new directive. That is something that we changed the rules, and that will put some milestones. Il will create some clarity on one hand, but on the other, il will be a significant challenge for everyone. We are talking about a banking system that not just in Italy, this is a general plan and is looking how to become more profitable in making a more intelligent use of it's capital. We are talking about a new set of rules that will go in the direction of making credit even more challenging. What is the role of the Chair and what we are trying to do: What I'm trying to do in Cassa Depositi e Prestiti is really trying to strike a balance between the role of the important institution like us that has one hand the ultimate goal of finding the development of the country and therefore extending credit and on the other hand, making it ad much as possible compatible with the new rules that are coming. We are doing a tremendous effort on that front on ranges from data collection, setting of internal policy, introducing new behaviors, in the way internal communications are working and ultimately how the board is looking at ESG.

Let me leave you with one statistic: 2020-2021 ESG was a topic of the clipboard in around 40% of the time. Now it's everywhere. It's something that is in our board discussions, and, the role of the chair is exaclty trying to get organizations in having that right balance, going in the right direction at the same time, taking into account that ad i said at the beginning that there is a need and the reason is the word for you is balance before clarity."