Sustainability governance and culture
Sustainability is integral to the governance of our Group.
At the end of 2016, we strengthened our corporate governance system by assigning responsibility for overseeing sustainability issues to the Corporate Governance, Nomination and Sustainability Committee, in addition to Group Environmental and Social Council (GESC).
The GESC proposes the Group Environmental and Social Strategy, annual objectives as well as the related activities to Executive Management Committee (EMC) and to the CEO for approval. Furthermore the GESC oversees the implementation of UniCredit's environmental and social initiatives and commitments. The Group Head of Institutional Affairs & Sustainability chairs the GESC.
The Group Sustainability unit, part of the Group Institutional Affairs & Sustainability department, acts as the GESC's secretariat and is responsible for supporting the work of senior management to develop strategies that integrate sustainability considerations into the value creation process and generate long-term benefits for all stakeholders. The unit is also charged with monitoring key performance indicators and communicating UniCredit's sustainability approach and results to external audiences.