Ethical Finance Awards 2023

Ethical Finance Awards 2023 Wealth & Finance 15. Mar23398 Most Impactful Sport & Culture Finance Organisation 2023 – Italy Since opening its doors over 60 years ago, Istituto per il Credito Sportivo (ICS) has managed to make enormous change through its official social mission of promoting Sustainable Development through Sport and Culture. Through financing the sectors of Italian Sport and Culture, the team have managed to have a positive social impact on communities and earn tremendous success in the Ethical Finance Awards 2023. We dig deeper to uncover more. The role of sport in any society is obvious, as it unites and brings people together for a common goal. Finding funding for these events, however, is incredibly difficult and often the most talented players can miss out on opportunities because there is no money available. ICS was established to provide financing to this vital sector, one that is often overlooked by the commercial banking system. For more than 60 years, ICS has reached out to the people of Italy. The team has provided loans for the construction of new sports or cultural facilities as well as restructuring, compliance and efficiency improvement of Sports facilities or Cultural infrastructures. For those who need a little more specialist financial help, ICS also provides Structured Finance for large infrastructural investment, short term loans for customers’ liquidity needs and advisory services on largescale plant engineering projects which also include analysis of the economic, social and environmental impact on communities. More often than not, the team work with local organisations such as Local Authorities, as well as Sports Federations, Sports Companies, Not-for-profit entities (Sports Associations, Cultural Foundations and Associations), Religious Bodies and Parishes and Universities to ensure that their work has the maximum possible impact on those who are on the ground and need it most. An analysis on the ICS outstanding credit portfolio, reported an estimated SROI (Social Return on Investment) equal to 2.93 that means an almost threefold social multiplier effect of ICS financing. In this way, it’s easy to see why ICS has been recognised for its ethical finance credentials. Often banking overlooks areas which are considered risky or unprofitable, but it is these areas which make a society whole. By focusing on sports and culture, with a socially oriented approach, ICS stands apart from many and provides a way forward which would not otherwise exist. For them, the official mission is to integrate sustainability and social impact into the logic of creating economic-financial value. The future seems bright for this incredible team, as they focus on their new service DELTA. DELTA is an IT tool, which allows ICS to evaluate ESG risks as well as social impact of all projects and clients to be financed. These are measured in terms of ESG scores and ratings while social impact is measure through the method of SROI. The platform works through an online questionnaire submitted to all clients and direct links to open source public statistics on environmental and social issues. The use of DELTA does not only allow the team to evaluate sustainability of projects presented by clients for financing, but to identify weaknesses in projects and eliminate them while rewarding the most sustainable ones thanks to an ESG risks adjusted pricing model. Moving forward, it’s clear that the training of clients in the use of DELTA will allow for greater governance, as well as more effective social results from the efforts of the ICS team. As a bank, finding ways of rewarding better sustainability performers and supporting the worst ones for improvement is a priority. Sustainable development is a noble aim, and the team are determined to keep their spot as the Bank for Sustainable Development through Sport and Culture. Company: Istituto per il Credito Sportivo Name: Andrea Benassi, Head of Sustainable Development and Studies Department and Head of Communication Department Email: [email protected] Web Address: