Banks provide billions for Dirty Diesel traders while failing to act on human rights, says new briefing
- Of 26 banks contacted, not one has pressured companies over toxic fuel exports to Africa
BankTrack is the international tracking, campaigning and support organisation focused on banks and the activities they finance.
We aim to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices.
Antonio Tricarico, Re:Common
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. UniCredit 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 17 European countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Germany, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine and Hungary.
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Mr. Jean-Pierre Mustier |
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Integrated report 2015
listed on Borsa Italia, Frankfurt Stock Exchange & Warsaw Stock Exchange
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The policy and guidelines section of the UniCredit website can be found here.
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.
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.
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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.
UniCredit is reporting on the implementation here.
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.
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.