SACE and the Green New Deal
The European context
The Green New Deal is the European plan that promotes a circular Europe: modern, sustainable and resilient. The goal is to transform climate issues and environmental challenges into opportunities and to become the first zero-emissions continent in 2050.
The Plan, therefore, promotes investments and projects that guarantee a transition towards a more sustainable economy.
The three Green New Deal goals
A zero-climate-impact economy
An economy based on the efficient use and re-use of resources
A transport system that offers alternatives with reduced CO2 emissions
The role of SACE
The "Semplificazioni" [“Simplifications”] Decree-Law (76/2020) entrusted SACE with a central role in supporting the Italian Green New Deal. Through the Garanzia Green ["Green Guarantee"] tool, issued under market conditions and counter-guaranteed by the State (by up to a maximum of 80%), we can fund projects within Italy with the purpose of easing the transition towards an economy with a smaller environmental impact, integrating production cycles with low-emissions technologies to produce sustainable goods and services and promoting new mobility with fewer polluting emissions.
Initiatives and projects
Since its entry into force, a team of cross-business specialists has been set up in the various business departments, which encompasses diverse and complementary professional figures, able to respond, in 360°, to the requirements of these new SACE operations. The actions approved will make it possible to reconvert industrial processes to reduce waste and polluting emissions, supporting the circular economy and smart mobility, as well as the production of energy from renewable sources. Since the launch of these new operations, to today, we have mobilized resources worth several billion Euro, meeting hundreds of potential businesses to benefit from the green guarantees, including in cutting-edge technological sectors.
The Green Guarantee concerns special-purpose loans. The eligibility of the initiatives, in fact, is assessed through due diligence based on the taxonomy defined by the European Union. In particular, projects must produce a significant benefit with regard to at least one of the following environmental goals, without negatively affecting the remaining ones:
- climate change mitigation and adaptation
- sustainable use and protection of water and marine resources
- transition towards a circular economy
- pollution prevention and reduction
- protection and recovery of biodiversity and ecosystems
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