Unlisted Italian Banks Cluster

The Standard Ethics Unlisted Italian Banks Cluster was launched on 27th of March 2026.

Purpose

The Cluster's objective is to provide a comprehensive overview of the sector’s level of Sustainability and to monitor the progress made by unlisted banks in Italy in their alignment with the voluntary guidelines and indications on Sustainability and Corporate Governance established by the OECD, EU and UN. The weights of its constituents are derived from the Corporate Standard Ethics Rating (SER) assigned to each bank.

Each Standard Ethics’ Cluster is public and operates on a full disclosure basis: the methodology and selection criteria are publicly available and may therefore be freely used as benchmarks by decision-makers and stakeholders. Standard Ethics’ Clusters (formerly known as Indexes or Benchmarks) have been applying the same methodology since 2004 and are self-financed. Standard Ethics’ work focuses on sustainability ratings, and its clusters are not subject to commercial activity or used as financial products.

Constituents

The Cluster's constituents are 25 of Italy's largest unlisted banks by assets under management.

Rebalancing and Review

If the Agency intends to track the Cluster’s performance, as it has done in the past, it will determine the weighting of each component based on the Standard Ethics Rating and rebalance the Cluster on a monthly basis.

The Cluster is reviewed every six months, at the end of the first and third quarter.

Rating actions will be recorded only on the dates when the review is scheduled to take place.