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Genuinely listening to our stakeholders to strategically map and measure their interests with regular investment in an effective engagement and feedback process, is fundamental to our sustainable bank's business activities.
We strive to understand our stakeholders' expectations, as they contribute to much more than our financial success. To achieve our sustainability goals, we are committed to providing our clients with support in the energy transition, constantly enhancing our corporate citizenship and, in line with our role as a sustainable bank, integrating the purpose of social sustainability into our everyday business and banking offer.
DIALOGUE TOOLS WITH STAKEHOLDERS
UniCredit has developed specific tools to ensure all stakeholders have the right opportunity and proper channels to engage with the Group. We are committed to continuously evolving these tools to ensure their capability to adapt to different needs and contexts and preserve long-lasting relationships. Our continued progress on enhancing these tools is detailed annually in our Integrated Report.
MATERIALITY ANALYSIS AND MATRIX
The creation of long-term value for the Group depends on our ability to meet stakeholder needs. We therefore carry out an annual materiality analysis to assess sustainability impacts, risks, and opportunities (IRO) across the environmental, social, and governance matters deemed to be material from a double materiality perspective: impact materiality and financial materiality.
Also known as an inside-out perspective, the impact materiality details our impact on people or the environment. While, the financial materiality, also known as outside-in perspective, identifies the effects of sustainability matters on our cash flow, financial performance, financial position, access to finance in the short-, medium- or long-term, or cost of capital.
The outcome of the analysis is graphically depicted in a materiality tornado chart, where we have aggregated the results from the different internal and external sources for both, impact and financial materiality. Moreover, we have published the impacts, risks, and opportunities (IRO) table with the results of the internal assessment evaluating actual and potential impact as well as the impact on our long-term value creation - in terms of risks and opportunities.
For a detailed overview of our Materiality Analysis and Matrix, please see our Integrated Report.