MSCI upgrade UniCredit’s ESG rating to ‘AA’
Leading by example
In 2023 we continued our journey from laggards to leaders in ESG as MSCI, a leading international ESG rating company that assesses over 8,500 companies globally, upgraded UniCredit to an ‘AA’ rating. Companies are scored on an industry-relative AAA (leader) to CCC (laggard) scale, and this year we became a “leader” – moving up from an “average” A score previously.
The upgrade was driven largely by our efforts to strengthen our focus on social issues, with MSCI citing our industry-leading consumer protection practices and financial literacy programmes, as well as the fact we do not offer high-risk financial products to our retail customer base.
This upgrade reflects the strides we have made to integrate all ESG factors into our bank’s governance, business, risk and credit management, metrics and operations. On the social side, we know that banks such as ours have an important social function which goes far beyond lending, and we will continue to support impactful initiatives and hold ourselves to account."
Head of Group Strategy & ESG