Credem adopts sustainable bonds framework, sets up sustainability committee

Credito Emiliano SpA established a new group sustainability committee that will oversee the implementation of the Italian lender's sustainability strategy and its environmental, social and governance framework.

The lender adopted an ESG framework to allow the proceeds of issued bonds to be allocated for the financing and refinancing of sustainability-related activities, according to an Oct. 25 statement. The framework has been structured and drafted according to the International Capital Market Association's 2021 guidelines on sustainability and will be subject to an external, independent assessment to certify its alignment with the guidelines and best practices.

Additionally, the group risks committee will be renamed the group risks and sustainability committee, and it will supervise environmental and climate risks and the analysis of the sustainability report.

Credem in 2021 launched a project aimed at reducing CO2 emissions, pledging to achieve carbon neutrality by 2025. The bank said it has already reduced its CO2 emissions by 55% in the last three years.

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