The Ministry of Economy and Finance has published the '2024 Report on Allocation and Impact – Green BTP' by, which illustrates the public expenditures financed through the 2023 BTP Green issuances, amounting to a total value of 13.9 billion euros.
The expenditure categories, consistently with the 'Italian Green Bond Framework' are selected within the State budget and include: sustainable modernisation in the transport sector, the implementation of energy efficiency projects, actions for the protection of the environment and biological diversity, pollution prevention and control, and circular economy. They also include research into environmental sustainability and the production of electricity and heat from renewable sources.
The document also provides a detailed analysis of the types of expenditure (tax incentives, capital expenditures, and current expenditures) and their temporal distribution over the four-year 2020–2023 reference period.
In particular, over the period considered, interventions in the transport category represent the main item of financing, accounting for 41.5% of the total (equivalent to 5.75 billion euros). They include railway infrastructure, electrification of railway lines, new high-speed/high-capacity – HS/HC – rail lines, promotion of sustainable of transport systems, construction of subways, purchase of predominantly electric, hybrid, hydrogen, and methane public transport vehicles, creation and maintenance of cycling networks, and contributions to support rail mobility of people and goods.
A share of 32.7% of the total (equivalent to 4.53 billion euros) is allocated to the energy efficiency in buildings, while 11.2% (equivalent to 1.55 billion euros) is allotted to the protection of the environment and biodiversity (soil protection and interventions on hydrogeological instability, parks and nature reserves, water infrastructure). A share of 8.6% of the resources (equivalent to 1.19 billion euros) is earmarked for pollution prevention and control measures and the circular economy, while 5.3% is allocated to research into environmental sustainability.
The environmental impact of the financed interventions allows for a reduction of CO2 emissions by more than 67 million tonnes.
From a socio-economic perspective, in terms of GDP the impact of the financed interventions is quantifiable in around 20 billion euros, corresponding to 1% of Italy's GDP in 2023. This increase in production also has a significant impact on the job market, resulting in the creation of over 320,000 jobs.
The 2024 BTP Green Allocation and Impact Report is available at:
https://www.dt.mef.gov.it/en/public_debt