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SACE for the Green New Deal
The European context
The Green New Deal is the European plan that promotes a sustainable Europe: modern, sustainable and resilient. The goal is to transform climate issues and environmental challenges into opportunities and become the first zero-emission continent in 2050.
The Plan therefore encourages investments and projects that guarantee a transition towards a more sustainable economy.
The 3 targets of the Green New Deal
Economy with zero climate impact
Economic system based on the efficient use and re-use of resources
Transport system offering low-carbon alternatives
The role of SACE
The "Simplifications" Decree Law (76/2020) entrusts SACE with a central role in support of the Italian Green New Deal. Our green guarantees, backed by the guarantee of the Italian Government, are intended to finance projects that aim to facilitate the transition to an economy with a lower environmental impact, integrate production cycles with low-emission technologies for the production of goods and services and promote mobility with lower polluting emissions.
The new operation in support of the Green New Deal is part of the broad extension of our mandate beyond exports and in support of the entire national economy, already launched in 2020 with the Liquidity Decree.
“There is now a widespread awareness that sustainability represents a great opportunity for investment, growth and employment for modern companies. In this sense, the conversion of the Italian productive fabric, through support for "green" investments, is a unique opportunity to increase the competitiveness of our country in the world.”
Pierfrancesco Latini - Chief Executive Officer of SACE
Fund allocation available for 2021 to cover the "Green New Deal" Guarantees
Volumes guaranteed with SACE's "Green Guarantees"
Initiatives and projects
Since its implementation, we have already approved interventions that will allow the conversion of industrial processes to reduce waste and polluting emissions, support the circular economy and smart mobility as well as the production of energy from renewable sources.
The eligibility of the initiatives is assessed through due diligence on the basis of the taxonomy defined by the European Union. In particular, projects must produce a significant benefit in at least one of the following environmental objectives:
climate change mitigation and adaptation to them
sustainable use and protection of water and marine resources
transition to the circular economy
pollution prevention and reduction
protection and restoration of biodiversity and ecosystems
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