Cdp has launched the "Energy Sector Policy" to better direct its investments in the sector. All the details on the policy and on the progress of the 2022-2024 strategic plan
Cdp accelerates on energy policies.
The board of directors of Cassa depositi e prestiti (CDP), a company controlled for more than 80 percent by the Ministry of the Economy, today launched an "Energy sector policy", which is part of the 2022-2024 strategic plan approved one year does.
WHAT CDP'S ENERGY POLICY CONSISTS OF
The Policy aims to guide CDP's financing and investment activities in the energy sector. More specifically, it aims to integrate ESG aspects (the factors that evaluate the environmental, social and management impact of an investment) within its business processes and to identify the treatment criteria for the sectors to be promoted.
The Policy was discussed with sustainability experts and representatives of civil society: discussions with these parties – the company reports – will continue at the CDP Multistakeholder Forum, which will be held on 28 November in Milan.
RENEWABLES AND CLIMATE ADAPTATION
CDP has made it known that it intends to devote itself to activities that stimulate the production of energy from clean sources and improve the socio-environmental adaptation capacity to the effects of climate change in Italy's partner countries, in line with the United Nations Sustainable Development Goals.
2.8 BILLION FOR SUSTAINABLE DEVELOPMENT
CDP's board of directors has also approved new transactions worth over 2.8 billion euro – including loans and credit lines, both direct and pooled with other banks – which will support the sustainable and innovative development plans of the companies, both small, medium and large.
CDP has also reserved interventions for the public administrations, to support projects on energy efficiency, school construction, the protection of water resources, soil protection, urban regeneration and the improvement of traffic conditions.
THE RESOURCES OF THE 2022-2024 STRATEGIC PLAN
In the first ten months of 2022, CDP committed resources of 24.5 billion euros, 5 more than in the same period of 2021. The 2022-2024 strategic plan envisages a total commitment of 65 billion, of which 21 will go towards upgrading infrastructure and public administration and 34 to businesses (also with a view to internationalisation).
THE IMPACT OF THE WAR IN UKRAINE
CDP specified that the Russian invasion of Ukraine has not changed the general direction of the plan. Some parts, however, have been updated in light of the new context: in particular, the company said it was paying "particular attention" to the rise in energy and raw material prices, which fuel inflation and consequently make raise interest rates.
THE CONSEQUENCES OF THE GAS CRISIS FOR ITALY
A recent CDP report entitled The Italian energy system put to the test of winter states that Italy is one of the European countries most vulnerable to natural gas price increases, even more than Germany and France, due to greater dependence from this fuel for the generation of electricity.
CDP estimates that in 2022 high gas procurement costs could cause energy operators to lose up to 45 percent. As for domestic users, given the considerable diffusion of the protection regime for electricity and gas users, more than half of Italian households and businesses are contractually exposed to increases in the price of gas.
The cost of the electricity bill for a typical family in 2022 is expected to be 1322 euros, double compared to 2021 (632 euros). The company also estimates that seven out of ten condominiums are at risk of arrears, given the increase in consumption in the winter.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/cdp-energia/ on Thu, 24 Nov 2022 14:49:28 +0000.