News | ESG CEO Forum: a challenge for Italy in achieving climate goals for 2030 | MonitorImmobiliare

Italy may struggle to meet the climate agreements set by the European Union by 2030 and may not achieve a complete reduction in emissions by 2050. Such concerns were expressed at the ESG CEO Forum by Bain & Company, which presented an analysis of the state of climate transformation in our country, outlining possible actions, solutions, and initiatives that should be undertaken by institutions and the private sector to achieve the goals outlined in the Paris Agreement.

Roberto Prioris, regional partner for SEMEA at Bain & Company: "The report indicates that at the current pace of transition, only 15% of the emissions announced by Italian companies are covered by science-based decarbonization targets in line with the Paris Agreement."

Pierluigi Serlenga, partner at Bain & Company in Italy: "In the Mediterranean, Italy is particularly vulnerable as a hub exposed to risks related to climate change. The vulnerability of the territory could lead to annual losses of over 10 billion euros by 2050. If we do not take preventive and urgent measures, Italy may face widespread losses and damages: it is projected that by 2050 nearly a third of the country's population will live in areas exposed to significant threats, with expected agricultural losses of 4.5 billion euros."

To achieve net-zero goals, it is essential to ensure a balance of financial and regulatory support.

If the public and private sectors can collaborate, the country will have a better chance of reaching its climate change ambitions. In particular, the public sector needs to accelerate the implementation of national climate programs and initiatives, invest in sustainable infrastructure, and integrate sustainability criteria into public procurement processes. As for the private sector, this involves enhancing monitoring and disclosure of emissions, setting science-based targets for emissions reduction, and incorporating net-zero goals into corporate planning, using sustainability as a competitive advantage.