Sustainability report

The 11th edition of the UniCredit Sustainability Report summarizes the connections among the business strategies, the management of stakeholder relationships, and the principal activities engaged in by our Group during the reporting period ending on December 31, 2011.

The 2011 Sustainability Report, approved by the Board of Directors, was presented at the Shareholders' Meeting along with the Consolidated Reports and Accounts.

It is written in conformity with the Sustainability Reporting Guidelines & Financial Services Sector Supplement issued in 2008 and the updated version of the Sustainability Reporting Guidelines (version 3.1) issued in 2011 by the GRI-Global Reporting Initiative. The process of defining content and determining materiality is based on GRI principles. In developing the 2011 materiality matrix, we improved on the process used in 2010. We also implemented the London Benchmarking Group (LBG) model to enhance our communications about our local initiatives and the level of support we provide them.

We declare our reporting status to be Application Level A+. The report was subject to the limited review of KPMG S.p.A.