Do the right thing!
Our values: Ethics and Respect (E&R), together with our simple guiding principle to Do the right thing! are applied to everything we do, at all times, and are at the core of our interactions with all of our stakeholders in order to generate sustainable results.
Our corporate culture indicates how we work as One Team, One UniCredit and supports us in the fulfilment of our Five Fundamentals, which guide our daily actions and operations.
We are implementing several initiatives that reflect these values and guiding principles, ensuring that they are consistently adopted and applied at all levels, wherever we operate:
In order to increase the internal presidium and coordination among the different areas involved in the application and monitoring of E&R topics, in 2019 the position of Chief Ethics Officer (CEtO) was created. This role ensures that the Group fosters the Do the right thing! culture with all stakeholders, provides Group guidelines on ethical topics and, in coordination with Human Capital and Group Compliance functions, periodically updates the Corporate Governance, Nomination and Sustainability Committee (CGN&S) on:
- training regarding the topics of ethics and professional conduct
- whistleblowing, including bullying, sexual misconduct, harassment, and acts of retaliation
- internal regulations (e.g. Code of Conduct).
Ethics and Respect and Do the right thing! are at the core of all our stakeholder interactions and we want to Do the right thing, also for the environment!
UniCredit wishes to keep working on reducing its own direct impact and to be a partner in the shift towards a low-carbon economy also through a new Sustainable Finance Advisory Team which combines sustainability expertise with that of capital markets to deepen dialogue on ESG topics with clients and facilitate their access to Europe's green financing market.
Moreover, during 2019 we also set clear 2023 targets on client financing embedded in the new Team 23 strategic plan, and issued new business policies that regulate our approach to controversial sectors with greatest impact on climate change, such as Coal, and Arctic and Non-Conventional Oil & Gas.
The Group also decided to support the TCFD1 recommendations and to participate, together with other banks, in road testing the Paris Agreement Capital Transition Assessment (PACTA) methodology developed by 2° Investing Initiative (2°ii).
In order to raise awareness on environmental sustainability and foster best practice sharing, UniCredit launched a series of internal workshops Real Estate Best Practice Sharing. During 2020, the initiatives collected and promoted best practice environmental initiatives leading to 37 project replications and involving 14 countries at a Group level.
We endeavour to create an engaging and positive working environment in order to do the right thing for our colleagues. Driven by the E&R principle, UniCredit recently updated the Global Policy on Whistleblowing.
From a Human Capital perspective, two new global policies were issued for our employees: one against harassment, sexual misconduct and bullying, the other against acts of retaliation. These new policies lead to a greater awareness on unacceptable behaviours and promote a 'speak up' culture where all employees feel listened to and protected when reporting misconducts.