‘From rhetoric to action’: What we learned at ESG Day 2025
Friday 28 November 2025
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ESG is at a crossroads. Once hailed as the future, it now faces growing political headwinds and scepticism. At UniCredit, we addressed these challenges head-on at our third ESG Day – A New World: Shaping the future of ESG.
Held on 19 November, the event brought together more than 10,000 participants online and in person across 10 of our countries. Attendees included clients, partners, and employees, alongside a host of renowned ESG experts from across academia, business and policy. Local events were also held across nearly all UniCredit’s countries, underscoring our bank’s pan-European presence and shared commitment to sustainability.
5 Key insights from ESG Day 2025
1. Amid setbacks, now is the chance for ESG to evolve
Opening the event, Tito Boeri, Professor of Economics at Bocconi University, acknowledged the global political shifts against ESG: “A few years ago ESG was the future of finance – now it’s fighting for survival.” Rather than seeing this as a setback, Boeri framed this as an opportunity for a second iteration of ESG built on stronger, more credible foundations. His call to action? Decouple E, S and G, recognising that each addresses distinct challenges requiring tailored solutions, and tell the truth about the trade-offs involved.
2. The business case for sustainability remains strong.
Despite headwinds and shifts in ESG language, speakers stressed that there is still a business case for sustainability and now is the time for businesses to work together to move from rhetoric to action. Elizabeth Meager, Acting Deputy Editor at Sustainable Views, highlighted recent bright spots at COP30– such as the International Energy Agency’s report showing fossil power growth flatlining in 2025 and projections that renewables could be the primary source of electricity generation globally by the end of the year – demonstrating that progress is possible.
3. Banks are more than financiers – they’re partners in transition.
We hosted a roundtable exploring how banks can finance the transition and unlock new opportunities for business, where panellists agreed that banks play a vital role in the transition Not only as financiers but as strategic partners, offering green products and tailored advice to help businesses and clients embed sustainability into their operations. Lucia Marin from the European Commission also underlined how regulation can be an accelerator of the transition and European competitiveness - particularly through simplification, with clearer formats to help businesses meet disclosure requirements. Collaboration between banks and businesses was also a clear theme throughout the event, and we closed with a concrete example of this: UniCredit’s new partnership with Ivy Decarb to accelerate decarbonisation in the textile industry. Learn more about the partnership here.
4. Nature and biodiversity are critical.
Dr. Frauke Fischer, biodiversity expert, delivered one of the day’s most powerful messages:
“When we talk about climate change, we ask how we will live in the future. When we talk about biodiversity, we ask if there will be a future for us.” She warned of the systemic risks to the global financial system if we do not prioritise the protection of biodiversity and nature, alongside our climate goals. In parallel, Francesco Ragni, Deputy General Manager and CFO at ACEA Group, highlighted mounting pressure on water resources from agriculture and emerging, energy-intensive industries such as data centres. With water valued at 60% of global GDP, he emphasised the need for greater investment in water reuse and resilience.
5. Social impact matters – and education is key
Another strong theme was the social dimension of ESG, with discussions on the role of banks in driving social progress and investing in education. This was a chance for us to highlight UniCredit’s Skills for Transition programme and the work of its Foundation, both focused on equipping young people with the skills needed to build a fairer, more resilient and compassionate world. As Silvia Cappellini, General Manager of UniCredit Foundation put it, “The moment you educate people you give them critical thinking to navigate the world. Investment in education is a true investment in building a society that is fairer, equal and more compassionate.
“At a time when the future of ESG is being questioned and opinions are divided, hosting this year’s ESG Day is especially important. The road to Net-Zero and a greener future is not simple and bringing together colleagues and clients in the same room gave us the opportunity to confront key social and environmental challenges head-on. What is clear is that we must stay focused on the sustainability path - supporting our clients through a just and fair transition. Progress cannot be achieved by a single company or individual alone; it demands collaboration.”
Fiona Melrose, Head of Group Strategy & ESG
More information about ESG Day can be found here, including a full recording of the sessions.
#UniCreditESGDay
(some pictures from the event)