Energy consumption

The Group’s energy consumption is linked primarily to its use of heating and air-conditioning systems, the functioning of its data centre and server rooms, to office lighting systems and to business-related travel by staff.

Currently the whole Mediobanca Group in Italy uses energy deriving from renewable sources, under the terms of a framework agreement under which renewable electricity certified by a “Guarantee of Origin” is acquired from CVA Trading. The electricity used for the data centre also comes from 100% renewable sources.

Outside Italy, the Bank’s London, Paris and Madrid offices used electricity from renewable sources, as do Group legal entities Cairn Capital, Mediobanca International, Mediobanca Management Company, and RAM’s Milan office. CMB Monaco too has attained EGEO certification stating that its electricity comes from renewable sources and the e+ label for its sites.

The Group monitors its own direct emissions, deriving from direct consumption of energy, i.e. natural gas and diesel for heating and fuel for its company fleet management (Scope 1), indirect emissions deriving from consumption of electricity acquired from third parties (Scope 2, Market-based and Location-based), and transfers of its staff members and collaborators by train and by air (Scope 3).

The main energy efficiency initiatives

The Mediobanca Group is committed to improving energy management, and to this end has carried out various initiatives in FY 2020-21 in order to reduce consumption:

  • human presence detection systems have been installed to regulate the use of lighting in some of the meeting rooms that have been refurbished in Via Filodrammatici in Milan and in the bathroom areas at the building in Foro Bonaparte;
  • replacement doors and windows have been fitted in the building in Foro Bonaparte;
  • photocopiers continue to be set to turn off automatically in order to save electricity;
  • equipment configured with power saving settings: around 3,000 VOIP telephones go into power saving mode between the hours of 6.00 p.m. and 6.00 a.m., PC monitors after 5 minutes of being idle, laptops after 15 minutes of being idle.
  • Energy monitoring systems have also been installed at the premises of Mediobanca (Via Filodrammatici), Compass, CheBanca! and MIS.

In order to reduce its CO2 emissions, the Group has promoted initiatives to:

  • encourage the use of video-conference facilities, to reduce staff travel and emissions. Thanks to this initiative, a total of some 800 tons of CO2 emissions were saved during the year under review;56  
  • maintain the provision of training courses via e-learning methods;
  • reduce the use of individual means of transport, through provision of a company shuttle bus service to the Milan Compass headquarters (from underground station Lotto to head office in Via Caldera), a special deal with local transport provider ATM offering discounts on season tickets for CheBanca! staff, and a bus shuttle service on order for MIS staff (Mediobanca MISposto);
  • management of the company car fleet using criteria that promote respect for the environment. The Group’s fleet is comprised of vehicles with low CO2 emissions. Hybrid plug-in vehicles have also been included in the grids, the aim being to reach the stage where 90% of the company car fleet use hybrid energy, as stated in the Strategic Plan;
  • institute the figure of company Mobility Manager57, the principal objective of which is to design solutions that combine people’s wellness and sustainability in the workplace, creating the Home-toWork Mobility Plan (HWMP) to reduce the use by staff of private vehicles to come to work, and to support initiatives to optimize working hours, offering the best alternative transport solutions with the lowest environmental impact.

The following initiatives have also been implemented:

  • support for electric mobility through installation of another charging station for electric and plug-in hybrid cars at MIS, in addition to those installed last year (five charging stations at Mediobanca head office, and two others at Compass’s office in Milan);
  • use of a 100% electric van for the MISposto service and the daily postal services between MIS and the other Group companies’ offices.

A change to the methodology used to calculate the company car fleet has been introduced in FY 2020-21. The new “manufacturers” methodology, replacing the ABI methodology used since FY 2018-19, enables the increasing efficiency of the car fleets’ emissions to be monitored more accurately.

As a result of the change in this methodology, a reduction in emissions has been recorded, due in part to the gradual replacement of older vehicles with lower-emission ones, and the reduction in mileage because of the pandemic.

  Unit 2020/2021 2019/2020 2018/2019
Direct energy consumption GJ 49,742.23 58,061.53 59,882.74
From non-renewable sources   26.606,01 23,602.82 25,111.42
Diesel   3.60 - 396.21
Natural gas   26,602.41 23,602.82 24,715.21
Da utenze non intestate   16.928,16 13,679.90 n.a.
Da utenze intestate   9.674,25 9,922.92 n.a.
From company cars   23.136,22 34,458.71 34,771.32
Diesel   17.858,91 28,354.15 30,530.34
Petrol   5.277,30 6,104.56 4,240.98


  Unit 2020/2021 2019/2020 2018/2019
Indirect energy consumption GJ 86,309.16 88,435.55 87,331.90
Electricity   85,325.40 87,236.38 86,399.38
From non-renewable sources   757.02 1,917.39 9,586.10
From renewable sources   84,568.38 85,318.98 76,813.28
Thermal energy   983.76 1,199.17 932.52
From non-renewable sources   250.02 219.88  932.52
From renewable sources   733.74 979.28 0

CO2 emissions

We monitor our emissions produced by the direct consumption of energy, such as gas and oil for heating and fuel for company vehicles (Scope 1); emissions produced by the consumption of electricity purchased from power providers (Scope 2 – Market based and Location based); and emissions due to business travel by our employees (Scope 3).

Currently 94% of the electricity we use is from certified renewable sources.

We became carbon neutral (Scope 1 and 2), by offsetting our remaining direct CO2 emissions following the domestic mitigation actions undertaken.

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The carbon neutralization project was made possible by acquiring carbon credits generated from environmental protection projects in developing countries.

  Unit 2020/2021 2019/2020 2018/2019
Direct emissions (Scope 1) Tonnes of CO2e 3,258.38 3,928.80 4,051.82
From non-renewable sources (natural gas, diesel oil)   1,539.07 1,368.05 1,463.82
From company cars (petrol and diesel)   1,719.31 2,560.76 2,588
Indirect emissions (Scope 2) - market-based   65.06 162.89 918.14
From electricity and thermal energy   65.06 162.89 918.14
Indirect emissions (Scope 2) - location-based   6,818.51 7,527.66 7,500.99
From electricity and thermal energy   6,818.51 7,527.66 7,500.99
Indirect emissions from company mobility (Scope 3)   112.82 1,527.12 2,753.96
From aircraft   83.24 1,370.37 2,753.96
Domestic flights   40.22 298.52 452.10
International flights   43.02 1,071.85 2,096.50
From trains   27.24 137.37 176.92
High-speed   25.26 124.95 164.00
Other types   1.98 12.42 12.92
From third-party service vehicles   2.34 19.38 28.43



  Unit 2020/2021 2019/2020 2018/2019
Direct energy intensity Kwh/m  84.10 95.65 95.65
Indirect energy intensity   145.93 145.68 150.28


  Unit 2020/2021 2019/2020 2018/2019
Emission intensity (Scop 1) tCO 2/m2  0.0198 0.0235 0.0249
Emission intensity (Scop 2)   0.0003 0.0009 0.0057

The increase in the supply of electricity from renewable sources has generated a reduction in Scope 2 market-based emissions. The Group also reported a substantial decrease in Scope 3 emissions due to the notable reduction in business-related travel due to the lockdown following the Covid-19 pandemic.
The Group has recorded the following emission levels for ozone-depleting substances: 132.8 kg of ODS (50.8 kg of which R-410A67), 800.38 kg of nitrogen oxides, and 15.81 kg of sulphur oxides68. The increase in ODS emissions is due to the higher number of breakdowns to the air-conditioning systems. NOx and SO2 emissions were in line with last year.

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