Investments in culture are a treasure. Every euro generates at least three.

In this, the third year since Intesa Sanpaolo, in collaboration with Prometeia, has published its Social Impact Assessment Report, the numbers that emerged offer an encouraging overview of the country. Of the €155 million provided to 664 Third Sector initiatives (organizations spread across the country), the impact achieved by 2024 was €511 million. This means the return on investment was 3.3, meaning that for every single euro allocated, €3 was generated in social benefits. In terms of employment, support for 5,000 workers is being discussed, of which 3,000 are confirmed and the remainder are additional, but the overall number of various beneficiaries is around 3 million or more. Looking at Lombardy, a total of 61 initiatives were considered, with investments of more than €17 million and an impact approaching €60 million. A result that saw the support of approximately 380 workers.

"In this Italian context, where inequalities persist despite economic growth, our bank has decided to adopt a guiding principle: reducing inequality gaps through direct distribution and also through shareholders such as philanthropic foundations," says Andrea Lecce, head of Intesa Sanpaolo's Impact Department, which supported these initiatives. "Starting in 2022, we began publishing these social impact reports, thus highlighting the value of the Third Sector. Ours is the way, not a trend, to ensure that inequalities can narrow year after year."

At the national level, the sectors covered in the report are considerable, ranging from economic development to organic farming, education to culture, but the largest disbursements went to healthcare, with 164 initiatives and €39 million allocated, and to social assistance, with 174 projects and €28 million. The data, taken together, also confirm that the Third Sector remains at the forefront of addressing social inequalities.

Edward Cassanelli

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