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Last update: 2021-04-16 11:13:36
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About UniCredit

The UniCredit Group, founded in 1998, 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. 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.

Website http://www.unicreditgroup.eu
Headquarters
Plazza Gae Aulenti 3 - Tower A
20154 Milan
Italy
CEO/chair Andrea Orcel
CEO
Supervisors
Banca d'Italia & Bundesbank
Annual report Annual report 2020
Ownership
listed on Borsa Italia, Frankfurt Stock Exchange & Warsaw Stock Exchange

Unicredit's shareholder structure can be accessed here.

Complaints and grievances

UniCredit does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. The bank can be contacted via its online contact form. 

Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance).

Related Dodgy Deals

UniCredit has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

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Policy Assessments

Banks, climate and energy

Bank policy scores on fossil fuel financing

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
93.5
Follower
Explanation

A bank can obtain a total of 200 policy points for its fossil fuel policies; 120 possible points for oil and gas policies and 80 possible points for coal policies. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 50 points
50.5 - 100 points
100.5 - 150 points
150.5 - 200 points
For more details see this page.

Bank policy scores on fossil fuel expansion

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
43
Front runner
Explanation

The scores for a bank's policies restricting expansion of fossil fuels - in each area, prohibitions against financing projects and/or companies expanding that area - are aggregated into a fossil fuel expansion policy score.

The point-based policy ranking for fossil fuel expansion consists of the following distribution:

  • Coal mining: 14 points​
  • Coal power: 14 points
  • Other coal: 7 points
  • Tar sands: 7 points
  • Arctic oil and gas: 7 points
  • Offshore oil and gas: 7 points
  • Fracked oil and gas: 7 points
  • LNG: 7 points
  • Other oil and gas: 12 points

A bank can obtain a total of 82 policy points for its fossil fuel expansion policy. Based on this score, banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 20.5 points
21 - 41 points
41.5 - 61.5 points
62 - 82 points
For more details see this page.

Bank policy scores on oil and gas financing

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
18.5
Laggard
Explanation

For tar sands, Arctic oil and gas, fracked oil and gas, offshore oil and gas and LNG, 18 possible policy points can be obtained. For other/conventional oil and gas, 30 policy points can be obtained. In total, a bank can score a total of 120 policy points for its oil and gas policies. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 30 points
30.5 - 60 points
60.5 - 90 points
90.5 - 120 points
For more details see this page.

Bank policy scores on tar sands

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
4
Laggard
Explanation

The point-based policy ranking above assesses bank policies in four ways:

1) Restriction on direct financing for tar sands projects.

  • None (0), weak exclusion (1), moderate exclusion (2), strong exclusion (3)

2) Restriction on financing for companies that expand tar sands.

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for tar sands.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in tar sands above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), moderate exclusion threshold (4), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 18 policy points for its tar sands policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 4.5 points
5 - 9 points
9.5 - 13.5 points
14 - 18 points
For more details see this page.

Bank policy scores on Arctic oil and gas

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
4
Laggard
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for Arctic oil and gas projects.

  • None (0), weak exclusion (1), moderate exclusion (2), strong exclusion (3)

2) Restriction on financing for companies that expand Arctic oil and gas. 

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for Arctic oil and gas.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in Arctic oil and gas above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), moderate exclusion threshold (4), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 18 policy points for its Arctic oil and gas policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 4.5 points
5 - 9 points
9.5 - 13.5 points
14 - 18 points
For more details see this page.

Bank policy scores on offshore oil and gas

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
3
Laggard
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for offshore oil and gas projects.

  • None (0), weak exclusion (1), strong exclusion (3)

2) Restriction on financing for companies that expand offshore oil and gas.

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for offshore oil and gas.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in offshore oil and gas above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 18 policy points for its offshore oil and gas policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 4.5 points
5 - 9 points
9.5 - 13.5 points
14 - 18 points
For more details see this page.

Bank policy scores on fracked oil and gas

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
4
Laggard
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for fracked oil and gas projects.

  • None (0), weak exclusion (1), moderate exclusion (2), strong exclusion (3)

2) Restriction on financing for companies that expand oil and gas fracking.

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for oil and gas fracking.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in oil and gas fracking above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), moderate exclusion threshold (4), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 18 policy points for its fracking policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 4.5 points
5 - 9 points
9.5 - 13.5 points
14 - 18 points
For more details see this page.

Bank policy scores on LNG

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
3
Laggard
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for LNG projects.

  • None (0), weak exclusion (1), strong exclusion (3)

2) Restriction on financing for companies that expand LNG.

  • None (0), weak exclusion (2), strong exclusion (4)

3) The bank’s commitment to phase-out financing for LNG.

  • None (0), reduction (1.5), weak phase-out (3), strong phase-out (5)

4) The bank’s commitment to exclude companies active in LNG above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (2), strong exclusion threshold (5), full exclusion (6)

A bank can obtain a total of 18 policy points for its LNG policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 4.5 points
5 - 9 points
9.5 - 13.5 points
14 - 18 points
For more details see this page.

Bank policy scores on other/conventional oil and gas

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
0.5
Laggard
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for other/conventional oil and gas projects.

  • None (0), weak exclusion (1.5), strong exclusion (5)

2) Restriction on financing for companies that expand other/conventional oil and gas. 

  • None (0), weak exclusion (3), strong exclusion (7)

3) The bank’s commitment to phase-out financing for other/conventional oil and gas.

  • None (0), financing reduction (1.5), weak phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in other/conventional oil and gas above a certain threshold.

  • None (0), enhanced due diligence/Equator Principles commitment (0.5), weak exclusion threshold (3), strong exclusion threshold (7), full exclusion (10)

A bank can obtain a total of 30 policy points for its other/conventional oil and gas policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 7.5 points
8 - 15 points
15.5 - 22.5 points
23 - 30 points
For more details see this page.

Bank policy scores on coal financing

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
75
Leader
Explanation

For both coal mining and coal power, 32 possible policy points can be obtained, while for other coal,16 possible policy points can be obtained. So a bank can obtain a total of 80 policy points for its coal policies. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 20 points
20.5 - 40 points
40.5 - 60 points
60.5 - 80 points
For more details see this page.

Bank policy scores on coal mining

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
30
Leader
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal mining projects.

  • None (0), mountaintop removal mining exclusion (0.5), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal mining.

  • None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal mining.

  • None (0), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal mining above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal mining policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 8 points
8.5 - 16 points
16.5 - 24 points
24.5 - 32 points
For more details see this page.

Bank policy scores on coal power

BankLast update
Country
Score
Ranking
Details
UniCredit Group
2021-03-24
ITA
30
Leader
Explanation

The point-based policy ranking assesses bank policies in four ways:

1) Restriction on direct financing for coal power projects.

  • None (0), weak exclusion (2), moderate exclusion (4), strong exclusion (6)

2) Restriction on financing for companies that expand coal power.

  • None (0), weak exclusion (4), strong exclusion (8)

3) The bank’s commitment to phase-out financing for coal power.

  • None (0), proportional reduction (1), exposure reduction (1.5), financing reduction (3), weak phase-out (4), moderate phase-out (6), strong phase-out (8)

4) The bank’s commitment to exclude companies active in coal power above a certain threshold.

  • None (0), enhanced due diligence (0.5), weak exclusion threshold (3), moderate exclusion threshold (5), strong exclusion threshold (8), full exclusion (10)

A bank can obtain a total of 32 policy points for its coal power policy. Based on this score banks are then classified as laggards, followers, front runners or leaders.

Laggard
Follower
Front runner
Leader
0 - 8 points
8.5 - 16 points
16.5 - 24 points
24.5 - 32 points