January 16, 2020 / 10:19 AM / a month ago

Intesa Sanpaolo CEO says ready to fund 50 billion euros in green investments

FILE PHOTO: Carlo Messina, CEO of Intesa Sanpaolo bank smiles during shareholders meeting in Turin, Italy, April 27, 2017. REUTERS/Giorgio Perottino

MILAN (Reuters) - Italy’s biggest retail bank Intesa Sanpaolo is ready to fund 50 billion euros in green investments in Italy, Chief Executive Carlo Messina said on Thursday.

The comment came after the European Union unveiled a plan on Tuesday for a trillion-euro push to cut net C02 emissions to zero by 2050 and protect member countries dependent on coal.

“I think that 150 billion euros can be allocated in Italy. We are ready to fund 50 billion to support the green economy,” Messina said during an event in Milan. 

Reporting by Gianluca Semeraro; editing by James Mackenzie

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