Measurement, mitigation and compensation

Our journey towards Carbon Neutrality starts with our business model, a completely digital and in cloud infrastructure together with a partner like Microsoft at the forefront of the energy transition, that minimizes the direct environmental impacts and efficiently uses resources responsibly. Since the first year we have started measuring our environmental impacts, further integrated in 2020.

Every small gesture can have an impact on the environment, this is why we have undertaken initiatives of energy efficiency and reduction of consumption: we discourage the use of lifts and access to printers while we encourage the use of digital media to minimize the use of ink and paper (FSC Certified). We equipped the Milan office with a system of timers that allow the automatic switching-off of the lights and the air conditioning systems. Furthermore, since 2021, the electricity used in our Milan and Modena offices is produced 100% from “GO” (Guarantee of Origin) certified renewable sources.

We do everything possible to minimize our emissions and we offset the ones related to the bank’s instrumental activities (Scope 1 and Scope 2, which constitute the illimity 2020 Carbon Footprint, equal to 489 tCO2) through certified carbon credits.

Maputo Clean Cookstoves project

Our journey towards the carbon offset continues in Africa, in Mozambique. We are in one of the poorest suburbs of Maputo, to be exact in Chamanculo, where the population density is very high and the hygienic conditions are critical. 90% of the population uses stoves with low energy efficiency and high consumption of coal, whose combustion causes respiratory tract infections, especially in women and children who are the most exposed to smoke inhalation, and it also involves large emissions of greenhouse gases.

Thus, in 2020 we started a collaboration with Carbonsink, a consulting company specializing in the development of climate strategies for companies. The project supported is called “Maputo Clean Cookstoves” and its aim is to improve the living conditions of the population and to reduce the emissions. Also thanks to our support, the “Maputo Clean Cookstoves” project, certified “Gold Standard”, purchases and distributes 5,000 new stoves for 3,200 families. This helps to improve the finances and the health of local people, saving over 70% of coal and $190 per year for each family, and to mitigate climate change by significantly reducing coal burning and related emissions, which are equal to 30,000 tons of CO2 per year.

With the “Maputo Clean Cookstoves” project we pursue 7 Sustainable Development Goals:

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Our circular forest in BAM

The journey ends by returning home, in the “Biblioteca degli Alberi”, a green urban space located in the innovative Portanuova district of Milan. A place that evolves together with the city and where, thanks to the new project “Radici – Adotta il tuo albero BAM”, we adopted the circular forest of Populus nigra.
Lombard Poplars are slender trees, up to 30 meters high, with smooth and shiny leaves, which bloom in the months between March and April, contributing to the green balance of the park and the city.

With the “Radici” project we pursue 3 Sustainable Development Goals:

Key elements of the measurement, mitigation and compensation path:
Calculation of the Carbon Footprint at Group level
Reduction of emissions produced and purchase of Certified Carbon Credits
Projects with national and international environmental impact