ESG and Sustainability
At UniCredit, we’re committed to embedding Sustainability in everything we do
We lead by example, which is why ESG (Environmental, Social and Governance) is at the heart of our strategic framework. Our Purpose is to Empower Communities to Progress, guided by three Principles:
- Holding ourselves to the highest possible standards to do the right thing by our clients and our communities
- Being fully committed to playing our part in supporting our clients in a just and fair transition
- Respecting and balancing the perspectives and priorities of all our stakeholders throughout our business and decision-making.
This is an image of a diagram highlighting that UniCredit over recent years, have built strong ESG foundations by focusing on 5 keys areas.
Strengthening our ESG business proposition
Enhanced ESG business functions, enriched ESG client offerings and a supporting ESG ecosystem of strategic partners
Advancing a distinctive social approach with tangible results
- Social Finance
- Direct social contribution
- Support to employees
Ensuring a just and fair transition through clear commitments
Part of international initiatives, commitments and pledges including UNEP FI, Net Zero Banking Alliance and Finance for Biodiversity Pledge Foundation.
Guaranteeing accountability and transparency, along with a robust risk framework
Maintaining a solid environmental, social and reputational risk management framework
Promoting ESG awareness across our organisation and beyond
Through our ESG Day, we bring our people and clients together to brainstorm key ESG-related issues, potential solutions, and develop concrete actions
Our progress to date
Environment
We advanced our sustainable financial instruments, reaching a total of €26.9 billion in cumulative green lending since January 2022.
Social
Since 2022, we have provided €13.2 billion in social financing via micro-credit, impact financing and lending to disadvantaged areas.
Governance
CEO and top management remuneration saw a 20% weighting of long-term performance related to ESG business, DE&I, and climate risk priorities. Furthermore a relevant link to Group’s Values and Culture - “Winning. The Right Way. Together” goal – is also part of the short-term scorecard.
2024 ESG Progress in numbers
Environmental
Green Bonds issued.
Social
FY24 social contribution.
Governance
Colleagues participating in transformation initiatives.
Evolving our ESG Strategy
UniCredit’s evolving ESG strategy supports our Purpose of Empowering Communities to Progress.
It is based on strong fundamentals and a set of interrelated elements to deliver value. Guided by our Principles, we implement key enablers required to support strategic levers, which in turn allow us to achieve the ESG goals underlying our ambition. This interconnected framework ensures alignment and cohesion across all ESG initiatives, maximising our impact.
This image includes a diagram detailing our principle guide, our ESG Strategy, in line with our Group Values that includes Ambition (Leading by example), Goals (Evolving in step with regulation and market forces), Levers (Championing Social, Enhanced Client Support, Beyond Climate, Evidencing Accountability), and Enablers (Enriched Client Offering, Lean Governance, Robust Framework and Empowered Culture).
Social strategy
Strengthening our Social Focus
We are adapting our social Strategy to reinforce our efforts on youth, education and on a just and fair transition, while exploring new emerging social topics like health – an increasingly important issue in the context of an aging population.
ESG and Sustainability
Double Materiality Analysis
Every year, we conduct a materiality analysis to identify key stakeholder issues, including business impacts, risks, and opportunities (IROs) across ESG matters.
In 2024, we performed our first Double Materiality Analysis (DMA), considering both impact and financial materiality to gain a comprehensive ESG perspective.
This image includes a diagram with 4 steps: Double materiality analysis process, Methodology, 2024 results and progress and Way forward.
About our Sustainability Statements
This year, our Sustainability Statements have been prepared in alignment with the new Corporate Sustainability Reporting Directive (CSRD).
In previous years, we used the Global Reporting Initiative (GRI) standards to disclose our material topics in our Integrated Report. In 2024, we have made significant efforts to ensure our Sustainability Statements comply fully with CSRD requirements, in particular their emphasis on double materiality.
While meeting CSRD requirements is a regulatory necessity, we view this as a broader opportunity to drive value creation for all stakeholders, build trust, enhance our reputation and strengthen our position as a responsible and forward-thinking organisation. Furthermore, the CSRD framework provides us with a roadmap to assess and mitigate risks related to critical ESG challenges, ensuring that we remain resilient and competitive in an evolving global landscape.
