Invest for fair and sustainable economy says CDP chief

Development banks will be strategic allies, common effort needed

(ANSA) - ROME, OCT 20 - Cassa Depositi e Prestiti CEO Dario Scannapieco told the closing session of the Finance in Common Summit 2021 that "we must invest in an inclusive and cohesive society, aiming for a stronger, fairer and more sustainable economy." He said "huge financial resources will be needed and the public development banks, with their mission at the service of the public interest, can be strategic allies in directing public and private investment towards sustainability in an innovative way".
    Scannapieco underscored that public development banks can boost their effect on the financial system, directing it towards more socially responsible investments.
    In order to do this, he said, it is therefore fundamental to strengthen the Finance in Common coalition by creating positive externalities via the coordination of the 527 national, regional and multilateral public development banks present in over 150 countries, with 18.7 trillion dollars of assets, which represent 10% of global investments all told.
    Cassa Depositi e Prestiti, in particular, "wants to continue to participate in this concerted effort, applying the criteria of climatic and social sustainability in its projects".
    Scannapieco recalled, indeed, that since its foundation in 1850, CDP has funded infrastructure and social projects, contributing to the development of Italy. And in 2017, in order to promote socially responsible investments, it also started to issue bonds with an ESG rating on the capital markets, swiftly becoming one of the main issuers of green and social bonds in Europe.
    "We intend to continue along this path," he assured his listeners, "by boosting coordination with the FiCS Coalition, hoping to achieve concrete thematic initiatives together".
    Cassa Depositi e Prestiti,, the CEO concluded, "shares a common vision and the time has come for incisive action to benefit future generations and ensure the achievement of the Paris Accord and the SDGs, especially in the sectors and regions in which there is the greatest need". (ANSA).
   

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