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Environmental and social risk assessments are guided by our environmental, social, operational and reputational risk sector policies as well as by our human rights commitment. Moreover, we proactively and reactively interact with the ESG rating agencies with the aim of communicating and monitoring the Group sustainability strategy, and improving our positioning and disclosure. Our sustainability performance is reflected in the key external ratings.
In line with our Purpose of empowering communities to progress, and in the context of an evolving external environment, we aim at steering our behaviour by enhancing our sustainability policies framework.
Certain sectors and activities require a specialized approach to ensure that transactional and related risks are properly addressed. We have developed detailed policies for those sectors relevant to UniCredit that are liable to special environmental and social risks.
We also have specific policies in place which contribute to human rights topics such as our Human Rights Commitment, as well as other regulations such as the Code of Conduct, the Anti-Bribery and Anti-Corruption Global Policy, the Whistleblowing Policy and the Anti-Money Laundering (AML) and Countering of Terrorist Financing (CTF) Policy.
These policies are inspired by international agreements, guidelines, and standards (including the International Finance Corporation Performance Standards, the World Bank Group Environmental, Health and Safety Guidelines and the principles of the UN Global Compact), as well as other practices widely employed by specific industries.
These policies are regularly reviewed in order to ensure their continued relevance.
Group Reputational Risk Management Global Policy
Cross topics
Sensitive sectors
Product framework
Engaging with stakeholders is essential to building trust.
We have an ongoing interaction with sustainability rating agencies, also supporting the increasing requests by investors for greater transparency, more stakeholder engagement and stronger sustainability management.
Bloomberg provides data, scores, analytics, indices, research and news in order to evaluate assets and report on sustainability disclosure and performance in a rapidly evolving economy. Bloomberg's proprietary ESG Scores are data-driven and fully transparent, allowing users to examine both the scoring methodology and the company-reported data underlying each score. Among these ones, ESG Disclosure Scores rate companies on their level of ESG disclosure. 2022 ESG disclosure score: 59.65 (Environmental); 40.51 (Social); 96.81 (Governance).
Bloomberg Gender-Equality Index
The Bloomberg Gender-Equality Index (GEI) is a modified market capitalisation-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting. Unicredit's GEI score is 85.56% (+ 2.61 p.p. Y/Y). Score higher than average score in financials sector (74.11%) and in Italian market (78.27%)
CDP is a not-for-profit charity that runs a global disclosure system on environmental impacts, supporting thousands of companies and others, to measure and manage their risks and opportunities in the environmental areas. It takes the information supplied in its annual reporting process and scores companies based on their journey through disclosure and towards environmental leadership. UniCredit received a B score.
- PDF | CDP 2024 Corporate Questionnaire (3.20mb)
- PDF | CDP 2023 Investor Information Request (1016.36kb)
- PDF | CDP 2022 Investor Information Request (854.87kb)
- PDF | CDP 2021 Investor Information Request (522.97kb)
- PDF | CDP 2020 Investor Information Request (411.11kb)
- PDF | CDP 2019 Investor Information Request (479.12kb)
- PDF | CDP 2018 Investor Information Request (485.03kb)
- PDF | CDP 2017 Investor Information Request (837.77kb)
- PDF | CDP 2016 Investor Information Request (435.89kb)
- PDF | CDP 2015 Investor Information Request (895.51kb)
Created by the global index company FTSE, FTSE4Good is an equity index series that is designed to facilitate investment in companies that meet globally recognised corporate responsibility standards. FTSE confirms that UniCredit has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. The results from FTSE4Good ESG Ratings are also positive: UniCredit absolute score has obtained 4.5 out of 5.
The Integrated Governance Index (IGI) wants to clearly and concisely express the positioning of companies in relation to the key aspects of sustainability, such as the presence or absence of a sustainability committee, the existence of a remuneration policy linked to ESG parameters or the diversity of the board. The Index therefore wants to photograph the degree of progress in the governance of sustainability or integrated governance. IGI is a quantitative index built on the basis of a questionnaire to the top 100 listed companies in Italy. UniCredit is the first bank in the Top 10 ranking and is included in the Top 3 in the financial sector.
Across 30 U.S. and international locations, ISS is a provider of corporate governance and responsible investment solutions, market intelligence and fund services, and events and editorial content for institutional investors and corporations, globally. Institutional Shareholder Services group of companies ("ISS") empowers investors and companies to build for long-term and sustainable growth by providing high-quality data, analytics, and insight.
UniCredit is ranked among the 10% of companies within the sector with the highest relative ESG performance.
In October 2023 Moody's ESG Solutions confirmed UniCredit positioning in the Advanced band, the highest one of the methodology. The ESG score improved at 64 from 60 as of October 2023.
Moody's ESG Solutions is a global provider of ESG ratings - including sustainable finance ratings.
MSCI Inc. is a provider of Environmental, Social and Governance (ESG) Indexes with over 1,500 equity and fixed income ESG Indexes designed to help institutional investors more effectively benchmark ESG investment performance and manage, measure and report on ESG mandates. MSCI ESG Ratings aim to measure a company's resilience to long-term, financially relevant ESG risks. Improved management of human capital drives UniCredit's upgrade to 'AA' from 'A' in 2023; the bank continues to lead most international peers in pay practices and board structure.
The Refinitiv ESG score measures the company's ESG performance based on verifiable reported data in the public domain. It captures and calculates over 450 company-level ESG measures, of which a subset of 186 of the most comparable and material per industry power the overall company assessment and scoring process. UniCredit has obtained a score of 84/100.
S&P Global ESG Scores give financial institutions the transparency and flexibility to drill down into three underlying Environmental, Social and Governance & Economic Dimension Scores, and an average of 23 Criteria Scores. A 100-question exploration (on average), guided by 61 industry-specific approaches, informs each criteria score.
Standard Ethics is a European solicited rating agency on ESG issues. It provides rating and gap analysis for companies and countries aspiring to assessing their sustainable and responsible performance in compliance with EU, OECD and UN guidelines.
Standard Ethics has confirmed UniCredit's "EE+" rating, only bank in Italy, for the strong compliance and the ability to manage key reputational risks.
Sustainalytics is a global leader in ESG and Corporate Governance research and ratings. Over the last 25 years, Sustainalytics has supported hundreds of the world's foremost investors who incorporate ESG and corporate governance insights into their investment processes. Sustainalytics states that UniCredit is at low risk of experiencing material financial impacts from ESG factors, due to its medium exposure and strong management of material ESG issues. UniCredit is noted for its strong corporate governance performance, which is reducing its overall risk.