Our roadmap towards Competitive Inclusivity
Thursday 06 June 2024
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UniCredit joined Competitive Inclusiveness, a conference dedicated to Diversity & Inclusion and the competitive advantages these generate for companies that apply such principles and policies. Our bank is proud of its more than a decade-long commitment to championing DE&I as a business imperative, fully integrated into our Culture, Values, and ESG framework.
On 5 June, for the second year in a row, EDI-Eccellenze d’Impresa and MIT Sloan Management Review - Italy gathered the leading market experts and companies pioneering corporate cultures based on diversity and inclusion to discuss how D&I can enhance business performance and help build the best places to work for employees. The event took place in Milan, hosted by Borsa Italiana (the Italian Stock Exchange).
A key takeaway from the first edition was that the immense impact and value derived from embracing diversity and inclusion principles is indisputable, for people, for business and for the communities in which a company operates. Findings in fact report that inclusive companies produce as much as 23% higher revenues than non-inclusive ones (Source: Diversity Foundation & Focus Management). In this respect, the focus of this year’s conference was to discover how to effectively implement D&I within an organisation, thanks to testimonials from several large companies, including UniCredit.
On this occasion, Siobhán McDonagh, Head of Group People & Culture at UniCredit, shared some of the lessons learnt from UniCredit’s Diversity, Equity and Inclusion (DE&I) roadmap within the financial industry, emphasising the link to our Group's social commitments, and the importance of staying future-focused on this topic, addressing the challenges of intersectionality and emerging technologies.
“We have long recognised the importance of an equitable and diverse environment as one of the key drivers of innovation, development, and success. The banking industry is a key enabler of change – and UniCredit is playing a valuable role in improving the lives of people across the continent, united behind the vision of being a catalyst for a better future and empowering our communities to progress.
Over the years, we have built a strong DE&I governance, empowered by shared Culture, policies, and guidance, as well as a passionate Group-wide DE&I network, fostering a psychologically safe, positive, and inclusive working environment that supports our UniCredit Unlocked Strategy. In addition, we continue to empower our people, embedding our corporate Values of Integrity, Ownership and Caring, as well as well-being principles in everything we do, throughout the entire employee life-cycle.”
Siobhán McDonagh, Head of Group People & Culture at UniCredit
UniCredit’s DE&I framework is based on 4 Pillars: People, Culture, Innovative solutions, Clients and Communities with a defined set of clear ambitions embracing a 360 approach to promote gender parity, ensure equal pay for equal work, increase cultural and ethnic diversity, boost work-life balance, well-being and a flexible working model, as well as leveraging our diverse workforce to reflect client needs, enhance digital and physical accessibility, and ensure that the suppliers and partners we work with also embrace our DE&I principles.
Discover more about our commitment to DE&I.
Browse through the pictures below to go over key milestones in our DE&I roadmap
Travel with us through the Unicredit DE&I roadmap
2009
- Joint Declaration on Equal Opportunities and Non-Discrimination
2012
- ValoreD Founders and Members of Valore D Association
- Human Rights Commitment
2013
- Global Policy on Gender Equality
- Global Compliance Policy on Whistleblowing
2015
- UN Women's Empowerment Principles
2017
- Code of Conduct
- Joint Declaration on Work-Life Balance
- Establishment of Employee Networks
2018
- UK Women in Finance Charter Commitment
- Diversity, Equity and Inclusion Manager and local Managers positions
- UN Human Rights Office's standards of conduct to support business community in tackling discrimination against LGBTQIA+ people
- Members of Parks - Liberi e Uguali Association
2019
- Policy against Harassment, Sexual Misconduct, Bullying and Anti-Retaliations
- Ethics and Respect Manifesto
- Global Framework Agreement with UNI Global Union on Human Rights and Fundamental Labour Rights
2020
- Signing the Joint Declaration on Remote Working
- Part of Valuable 500 Movement
2021
- Group-wide minimum standard for parental leave
- CEO Champion Commitment "Towards the Zero Gender Gap"
- Group wide campaign Courageous Voices, focused on Accountability & Speak up
2022
- Appointment of DE&I Accpuntable Executives and setting DE&I ambitions
- New DE&I Global Policy
- Commitment to close the Gender Pay Gap within comparable roles, allocating c. €100m within Unicredit Unlocked Plan by 2024
- New Corporate Values:
- Integrity
- Ownership
- Caring
2023
- Global EDGE Certification on gender equity and inclusion: first pan-European bank with 10 Banks certified
- Bloomberg's 2023 Gender-Equality Index for the 4th year
- Inclusive Company of the Year during Rainbow Awards and Best LGBT+ Employee Network during Parks Diversity Index
2024
- Top 100 Globally for Gender Equality by Equileap for the 3rd year, #2 in Italy (the only bank)
- Top Employer in Europe and across several countries for the 8th year
- Introduction of Group-wide holistic Well-being framework ensuring ohysical, mental, social, financial and career well-being