Our System of Corporate Governance to Ensure Long-Term Value
UniCredit's corporate governance system promotes clarity and accountability, while constantly evolving to ensure long-term sustainable value.
The UniCredit Board of Directors defines the overall Group strategy. It is supported by the ESG Board Committee in fulfilling its responsibilities with respect to the ESG components integral to the Group's business strategy and sustainability goals over time.
At management level, the Group Executive Committee (GEC) is the Group's most senior executive committee, chaired by the CEO and comprises decision makers from key business functions and divisions. It ensures the effective steering, coordination and control of the Group's business as well as the successful alignment of the parent company with the different businesses and geographies regarding strategic topics, such as ESG.
The Group Strategy & ESG and Group Stakeholder Engagement functions together serve as the CEO Office, addressing all initiatives critical for the CEO, such as strategy, the further integration of ESG criteria in our business, stakeholder management, and regulatory affairs.
The Head of Group Strategy & ESG is a member of the Group Non-Financial Risks and Controls Committee (GNFRC) - Reputational Risk Session. This Committee is supported by Group ESG which contributes to reputational risk assessments of initiatives/clients in ESG-sensitive sectors.
The Group ESG function, part of Group Strategy & ESG, steers the definition and implementation of the Group's ESG strategy. It ensures the ESG framework is consistent with the Group's principles and Purpose and with relevant international standards and practices.
It is also tasked with disclosing the Group's ESG impacts and results, and with overseeing the adoption of relevant policies and standards. This includes the coordination and publication of the Group's Integrated Report, UniCredit's UniCredit's TCFD Report as a sustainable bank, and the implementation of the Principles for Responsible Banking-UNEP FI and related sustainability sustainability reporting.