OUR SUSTAINABLE VALUE CREATION

...Roberta Marracino, explains how ESG factors are manifested in our culture and approach to long-term value creation.

Given the increasing importance of ESG factors also driven by the trends of 2020, is this Integrated Report somehow different from previous editions?

Absolutely. This year’s report has improved across a variety of elements: it is simpler and more visual, it provides more visibility on the ESG strategy and how it is integrated across the business There is also more focus on climate-related topics, on measurability and KPIs. And these are all key points for us.

UniCredit is already playing an important role in ESG as a leader in the sustainable finance sector. In addition, we wish to be at the forefront of social change and the green transition. Therefore, ESG must be fully integrated in our decision-making processes across our business and operations. It helps us live by and deliver our values, constantly increasing our impact on the community.

This year’s report not only tells, but graphically illustrates, our ESG journey and progress so far, including how we have responded to the significant market and societal challenges of 2020.

What is UniCredit’s approach to sustainable value creation through ESG?

Our focus is on creating tangible value for all our stakeholders by providing real solutions to real needs, and this means building value through our business model. Furthermore, in a changing context, playing our role with a constant commitment to being part of the solution within the wider industry is crucial.

ESG helps us achieve both things, always in a sustainable and responsible way, in line with our guiding principle of Doing the right thing! Our approach in accompanying our customers in the transition towards a low-carbon economy, the activities of our Social Impact Bank to support and finance people and organisations at risk of financial and social exclusion, and our continued focus on diversity and inclusion are just a few examples of how we play our part in driving wider change in society, whilst also contributing to the UN Sustainable Development Goals.

Looking ahead, what is next for UniCredit in terms of your ESG commitments?

We still have a long journey ahead of us and our ESG ambitions are growing. In 2020 we achieved our targets of 60% reduction of our GHG emissions and 25% increase of energy efficiency loans to individuals in Western Europe, setting the basis for more ambitious future targets. We disbursed well over €225 million with our Social Impact Bank and remain on track to meet our goal of providing €1 billion of social impact financing by 2023. We also strengthened our commitment to increase female presence in senior leadership to 30% by 2023, progressing to 15% at the end of 2020.

But more and more will come. Sustainability is part of our DNA and we are already working on enhancing our ambitions, together with the business, to be ready for the next 10 years with a clear ESG leadership position.