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Sustainability governance

Our sustainability governance

A clear and solid governance is key to achieving our ambitious sustainability strategy

 

Sustainability-Governance2020_03_1260x844.

At UniCredit, the Board of Directors approves the Group strategy.

 

In support of the Board, the Corporate Governance, Nomination and Sustainability Committee (CGN&S) is also responsible for supervising sustainability topics within our Group.

The CGN&S plays a key role in ensuring that sustainability is fully embedded in the Group's business strategy as an important component of the business model.

The Committee also supervises ethics matters, supported in this task by the Chief Ethics Officer who is in charge of fostering a Do the right thing! culture with all stakeholders, as well as providing Group guidelines on ethical topics.

The Committee monitors the evolution of sustainability, in accordance with international guidelines and principles, monitoring the Group's performance whilst proactively aligning with stakeholders.

 

At executive level, the  Executive Management Committee, chaired by the Group CEO, defines the Group business strategies.

 

 

 

The Group Sustainability structure supports the CGN&S and Group Management to define strategies and policies that incorporate sustainability criteria. Moreover, Group Sustainability has a permanent member in the Group Reputational Risk Committee (GRRC), responsible for the assessment of the reputational risks of initiatives, bank transactions, projects, customers and other business activities.


Click here for more information on the Governance of UniCredit Group.

We have specific policies in place which contribute to human rights topics such as the Code of Conduct, the Anti-Bribery and Anti-Corruption Global Policy, the Anti-Bribery and Anti-Corruption Global Operational Regulation, the Whistleblowing Policy and the Anti-Money Laundering (AML) and Countering of Terrorist Financing (CTF) Policy, guided by our Ethics Manifesto as well as our Commitment to Human Rights.


Certain sectors and activities require a specialised approach to ensure that transactional and related risks are properly addressed.


We have developed detailed guidance policies for those sectors relevant to UniCredit that are susceptible to special environmental and social risks.

 

These policies are inspired by agreements, guidelines and standards (including the International Finance Corporation Performance Standards, the World Bank Group Environmental, Health and Safety Guidelines and the principles of the UN Global Compact), as well as other practices widely employed by specific industries.

 

Policies, statements and commitments Objective Download document
Arctic and non conventional oil The policy establishes standards and guidelines that address the risks associated with financing the Arctic and Non-Conventional Oil & Gas Industry Artic and non conventional Oil & Gas
Defense/weapons The policy regulates financial involvement with companies from the defence/armaments industry  Defence/weapons Industry 
Coal Sector The policy establishes standards and guidelines that address the risks associated with financing the coal sector Coal Sector
Mining The policy establishes standards and guidelines that address the risks associated with financing mining operations Mining Industry
Nuclear Energy The policy regulates financial involvement with and address the challenges posed by the nuclear energy sector  Nuclear Energy  
Water Infrastructure The policy establishes standards and guidelines that address the risks associated with financing large water infrastructure projects, such as dams Water Infrastructure Industry (Dams)
Human Rights The commitment summarises the Group’s approach to human rights, focusing on some stakeholder categories such as employees, customers, suppliers and communities. It is based on international declarations and conventions, standards, principles, guidelines and recommendations Human Rights
Position on 185/90 Summary of notifications of UniCredit permanent export as per the Italian Parliament Annual Report 2019 Position Data Italian Law 185/90 
Modern Slavery The statement describes the measures taken by UniCredit to mitigate the risk of slavery and human trafficking, within our businesses or our supply chain, in accordance with section 54 of the United Kingdom's Modern Slavery Act 2015 2019 Statement on Modern Slavery Act
2018 Statement on Modern Slavery Act
2017 Statement on Modern Slavery Act
2016 Statement on Modern Slavery Act
Rainforests  The commitment ensures that our activity does not aid deforestation or forest degradation, unless appropriately mitigated Rainforests

Engaging with stakeholders is essential to building trust.

We have an ongoing interaction with sustainability rating agencies, also supporting the increasing requests by investors for greater transparency, more stakeholder engagement and stronger sustainability management.

 

Climate-Action_2019_1584x320_02

ESG Targets

Updated on 02 April 2019.