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Archive » December 2022 » The trends of the Italian financial system: profitability, Esg evolution, digitalization

The trends of the Italian financial system: profitability, Esg evolution, digitalization

Alessandra Perrazzelli
December 2022 - n. 12
Keywords: Banche, Esg, digitalizzazione
Jel codes: G21, G28, M14, O30

Esg factors and digitalization are structural and interconnected changes requiring banks to adapt business models and strategies. Environmental risks can have impact on the financial performance and solvency of institutions: the difficulty in obtaining robust and reliable data is an obstacle to the development of an adequate climate risk governance system. The Bank of Italy has been starting a technical dialogue with the Italian financial industry to monitor and assess the degree of preparedness for Esg disclosure requirements. Reliance on innovative technologies can help banks and finance both to overcome the data-gap and data-quality of Esg factors more effectively, and to direct resource allocation toward productive activities with better prospects, more sustainable and more inclusive.

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