Focus on strategic areas of intervention to maximise impact, increased commitment to supply chains and to support liquidity for SMEs, widespread presence throughout the country: these are the main results of CDP’s activities in 2023, as highlighted in the Impact Monitoring Report.
Since the introduction of the 2022-2024 Strategic Plan, CDP has embraced a “risk-return-impact” operating model: we are committed to constantly monitoring our actions and systematically measuring the impact that our interventions generate in favour of the economic, social and environmental development of enterprises, territories and the country as a whole.
Impact Monitoring is the half-yearly report through which CDP provides transparency on its actions to all stakeholders, indicating where the resources are used, the characteristics of the territories and entities financed, and the economic, social and environmental impacts generated.
In 2023, Cassa Depositi e Prestiti committed resources amounting to some 20.1 billion euro, supporting around 19 thousand counterparties, including directly serviced enterprises, SMEs financed indirectly through financial intermediaries, households and public administration. Net of the large one-off transactions carried out in 2022, CDP’s activities showed growth over the previous year. At the same time, the estimated share of additional resources (i.e. those that would not have been injected into the market by other operators) capable of stimulating consumption and investment demand in the real economy increased (+15 percentage points against 2022).
In addition, over 80% of resources were allocated to the ten fields of action identified in the 2022-2024 Strategic Plan, on which CDP decided to focus in order to maximise its impact. This was done by contributing over 6 billion euro to support the export capacity and growth of large companies and SMEs, sustaining key projects in the field of student housing and safety of building stock (over 2 billion euro) and the transport system (2.3 billion euro), as well as by promoting energy transition projects (2 billion euro) and technological innovation (over 1 billion euro).
In 2023, CDP’s activities were highly widespread throughout Italy, and it continued to exercise an important countercyclical role in favour of the production system and a complementary function to the market: it provided greater support than the banking system to companies suffering from financial vulnerability, sustaining the liquidity needs of PA entities and SMEs.
With a view to creating greater awareness and transparency with respect to its actions, CDP has begun monitoring the results of the projects financed, through analysis of physical indicators of results and the time taken to complete the interventions. For loans granted to public entities in 2023, CDP financed projects that, for example, will result in: more than 1 million square metres of redeveloped urban surface area, 12,700 upgraded or newly-built spots for students, 940 kilometres of road networks undergoing maintenance, over 16,000 MWh of reduced energy consumption in the building stock, and 370 kilometres of upgraded water or sewer networks.
By using the appropriate economic, social and environmental impact assessment models and tools, CDP is able to estimate the positive effects of its actions for the country. The additional resources injected into the market and capable of activating demand in Italy in 2023 generated a significant economic impact, quantifiable in over 50 billion euro in production value, corresponding to a GDP impact of 1.4% of Italy’s GDP in 2022, and an impact on the demand for workers estimated at around 360 thousand jobs created or maintained.