Created before Nov 2016
Last update: 2018-04-16 16:09:07
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The UniCredit Group is the result of the merger of nine of Italy's largest banks and the subsequent combination with the German HVB Group and the Italian Capitalia Group. It is now a banking group based in Milan that also includes (amongst others) Bank Austria and Hypovereinsbank.
UniCredit is a major international financial institution. It is a leading European commercial bank with an international network spanning 50 markets, with more than 8,500 branches and over 147,000 employees. The group operates in 14 European countries: Austria, Germany, Russia, Bosnia and Herzegovina, Hungary, Serbia, Bulgaria, Italy, Slovakia, Croatia, Romania, Slovenia, Czech Republic and Turkey. At the end of 2017, UniCredit's total assets were EUR 836.790 billion.
Plazza Gae Aulenti 3 tower A
Mr. Jean-Pierre Mustier |
|Annual report||Integrated Report 2017|
listed on Borsa Italia, Frankfurt Stock Exchange & Warsaw Stock Exchange
Publicly listed company
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Dodgy Deals map
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Voluntary initiativesUniCredit has committed itself to the following voluntary standards:
The policy and guidelines section of the UniCredit website can be found here.
UniCredit and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. UniCredit adopted the Equator Principles in 2003.
Reporting on the Equator Principles
UniCredit must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
UniCredit is involved in financing the following Equator Principles projects that BankTrack considers controversial.
True leader Front runner Follower Laggard
BankTrack has assessed UniCredit on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. UniCredit is assessed as a Follower, with a total score of 6/12.
Implementation and reporting
UniCredit is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Five European banks pressured not to tolerate corrupt practices at Dominican coal plant project
Mired in a major international corruption scandal, the proposed Punta Catalina coal plant in the Dominican Republic became untouchable for Deutsche Bank, ING, Santander, Société Générale and Unicredit in 2017. As the gravity of the situation surrounding the project’s construction company Odebrecht intensified, the five bank consortium suspended its financing of the project, triggering a panicked turn to the international bond markets by the Dominican government in order to find some way of keeping the project afloat. BankTrack maintained regular contact with the lead consortium banks throughout the year, in tandem with our Dominican partner group National Committee to Combat Climate Change (CNLCC). We brought CNLCC’s Enrique de León to the AGMs of Deutsche Bank and Société Générale where he received public assurances from senior bank executives that they would be taking a ‘zero tolerance’ approach to corruption at Punta Catalina.
Thun Group banks revise human rights paper following BankTrack demands
In February, BankTrack coordinated and sent an open letter to the 11 banks that signed a Discussion Paper by the Thun Group, calling for the paper's withdrawal. The paper took as its starting point that banks do not contribute to human rights abuses through their finance, flying in the face of UN advice on banks’ human rights responsibilities. The concerns raised in the letter were quickly echoed by others, and following further discussions the paper was revised in December, partially addressing the concerns.
Thun Group of Banks agrees to consider remedy for victims of human rights abuse
In 2013 the seven-strong Thun Group of Banks' produced a discussion paper on banks' responsibilities under new UN human rights guidelines. BankTrack's response to the paper highlighted that the banks had failed to address their responsibility to provide access to remedy to victims of human rights abuses. After we pushed the point further at a conference with the banks in 2014, they agreed to "explore options for addressing ... access to remedy." We look forward to the outcome.
Bank Austria withdraws from Mochovce Nuclear Plant
In March 2012, following pressure campaigns from BankTrack and others, Bank Austria (part of Unicredit) announced it had closed down an important credit line for the funding of the construction of the Mochovce nuclear reactors 3 & 4 in Slovakia. These reactors are Soviet-type VVER 440 2nd generation reactors, which are designed without a full containment building and cannot be upgraded. As such there is a higher probability of severe accidents and the release of radioactivity. Stopping this credit line is one more obstacle for these plants to ever be build.