Italy's credit insurance agency SACE on Thursday unveiled its new environmental, social and corporate governance strategy at the United Nations COP28 climate summit in Dubai in front of an audience of over 100 influential leaders from the Gulf region.
“We are proud to unveil our ESG Strategy, a culmination of a year's dedicated effort, especially on the grand stage of COP28 in the Gulf, a pivotal region influencing global energy balances and sustainability challenges,” stated Alessandra Ricci, CEO of SACE.
“This Road Map is a collaborative endeavour involving all SACE stakeholders and our team. Together, we aim to amplify the impact of this transformative evolution,” Ricci continued.
The innovative approach of the new ESG blueprint will revolutionize SACE's business model, aligning it with the UN Sustainable Development Goals (SDGs), and sets ambitious targets extending to 2030 and beyond, the agency said in a statement.
The new strategy and accompanying road map integrates environmental, social, and governance criteria into every decision-making process and is underpinned by a scientific impact measurement system, according to the SACE statement.
The strategy's primary goal is to contribute to the community well-being and overall prosperity, the statement underlined.
Accelerating companies' transition represents the primary pillar of SACE's strategy, focusing on key sectors like renewable energy, circular economy, electric vehicles, and shared mobility. It places special emphasis on SMEs, fostering a "dedicated ecosystem" for their development, according to the statement.
The second pillar – becoming a “ESG Excellence Company” ensures the alignment of internal daily activities with ESG goals through initiatives reducing environmental impact, cultivating a sustainable supply chain, and nurturing sustainable leadership within SACE, said the statement.
"Through our new ESG Strategy, the SACE Group embraces the challenges of sustainable development in an increasingly interconnected world, acknowledging that financial choices hold social and environmental repercussions, which, in turn, can have significant financial implications," Michele De Capitani, Chief Financial & Sustainability Officer of SACE.
Therefore, the decisions of a few can profoundly affect the well-being of many,” De Capitani added.
