UniCredit, in line with the Group's ESG Strategy and Net Zero commitment, is the first bank in Europe to obtain the Global Real Estate Sustainability Benchmark (GRESB) scoring on its corporate real estate portfolio. The total portfolio analysed based on GRESB's sustainability criteria included properties owned by the Group, with an approximate value of 5bn euros, located across Central and Eastern Europe.
Salvatore Greco, Head of Group Real Estate at UniCredit, commented: "ESG principles are at the core of all our real estate activities and we continue to strive to evaluate, monitor and consistently improve the ESG performance of our assets and related management processes. In line with the Group's ESG Strategy, which is a key pillar of the UniCredit Unlocked business plan, the GRESB project represents a tangible example of our sustainability commitments, further reinforcing our leadership in the implementation of innovative ESG initiatives."
The GRESB Real Estate Assessment is a global ESG scoring and benchmarking mechanism for listed real estate companies, privately owned funds, developers, and investors in the real estate sector. In 2021, more than 1,500 property companies, REITs, funds, and developers took part in the Real Estate Assessment, which covers approximately $5.7 trillion in assets under management and 117,000 assets in 66 countries.
The initiative represents an important milestone in the Group's sustainable transition journey and showcases UniCredit as a frontrunner on ESG disclosure related to property management. As a specific objective, the GRESB scores will be consolidated over time through continued monitoring of the ESG performance of the Group's properties and the related management processes, and a constant comparison of these against the highest market standards.
UniCredit continues to progressively reduce its reliance on fossil fuels with 80% of the electricity used across our premises already coming from renewable sources in 2021 (100% in Italy and Germany, and 98% in Austria). Moreover, UniCredit was among the first movers in the European financial services sector and the first bank in Italy to sign a corporate power purchase agreement (PPA) with a specialist green power producer, CVA, to supply the energy for its core data centres in Italy, strengthening the Bank's global Green Energy Procurement strategy.
Furthermore, the Bank continues to adopt energy and space efficiency measures to reduce its carbon footprint, which is a core priority of its ESG Strategy and Strategic Plan targets. UniCredit has already achieved a 32% reduction in its greenhouse gas emissions (scope 1 and 2, market-based) in 2021 compared to 2017, and is committed to reach Net Zero on its own emissions by 2030, and on its financed emissions by 2050.
Milan, 20 October 2022
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