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Created before Nov 2016
Last update: 2017-11-15 16:08:11
Karen Vermeer, Forest and Equator Principles campaigner
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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 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. As of September 2017, UniCredit's total assets were EUR 803.8 billion.
Plazza Gae Aulenti 3 tower A
Mr. Jean-Pierre Mustier |
|Annual report||2016 Integrated Report|
listed on Borsa Italia, Frankfurt Stock Exchange & Warsaw Stock Exchange
Publicly listed company
Related Dodgy Deals
Punta Catalina-Hatillo coal power plant Dominican Republic
Solwara 1 Deep Sea Mining Project Papua New Guinea
Baku-Tbilisi-Ceyhan oil pipeline - international -
Liquified Natural Gas (LNG) project Papua New Guinea
Mountain top removal coal mining United States
SOCAR Aegean Refinery Turkey
TES 6 coal power plant Slovenia
Tufanbeyli coal power plant Turkey
ZE PAK (Zespół Elektrowni Pątnów-Adamów-Konin) Poland
Anglo American United Kingdom
Arch Coal United States
BHP Billiton Australia
EPH Czech Republic
ESKOM South Africa
Rio Tinto Australia
SUEK Russian Federation
Dodgy Deals map
Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing
Investor alert: Deep sea mining project in last-ditch search for capital
Operation Car Wash and a coal plant in the Dominican Republic – anti-corruption protestors are not giving up
Scandalo Lava Jato, Santo Domingo si ribella contro la corruzione. E c'entra anche l'Italia
Punta Catalina perdería el financiamiento europeo que le resta para su terminación
Punta Catalina – the coal plant project that keeps on giving … a headache to European banks
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
Leading banks under fire for misrepresenting human rights responsibilities
La Société Générale priée de renoncer à financer la centrale charbon de Punta Catalina
Dominicans on the march against Punta Catalina kickbacks, and want financiers out of the coal plant project
Odebrecht corruption in Dominican Republic – Five European banks urged to pull out of dirty coal plant financing
Odebrecht $92 million bribe: Just hours to deadline, utility produces papers
New report finds banks betting on climate change
European banks warned over raid on pension funds to finance disputed coal plant in Dominican Republic
Bank financing of staggering Polish coal development plans continues to run deep
Investor Alert on DTEK (Ukraine) debt restructuring
Banks not yet living up to UN human rights principles, finds BankTrack
'Record year' for bank coal financing as latest UN climate warning looms
Banks and human rights: Assessing strengths and weaknesses of the Thun Group’s approach
BankTrack welcomes Thun Group paper on banks and human rights
Kaliningrad Nuclear Plant: HypoVereinsbank follows BNP Paribas and pulls out. When will Coface and Société Générale follow suit?
BankTrack welcomes withdrawal Bank Austria from Mochovce Nuclear power plant
Bankrolling Climate Change
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
BankTrack to Equator Principles banks; ‘get the Outside Job done’
New rules for Equator Principles, but no new commitments from banks
Equator Principles: Action, not words needed
Civil society groups call for bold steps forward with Equator Principles
Top financial institutions still invest US$20 billion in cluster bombs
European banks withdraw from Ilisu dam project in Turkey
Ilisu Dam Project: European Governments Officially Announce Withdrawal
Austria's ECA officially declares pull-out of Ilisu dam project
BankTrack members unveil bank secrets
Protest rallies against Turkish dam all over Europe
European banks withdraw from Belene nuclear power project
Banking with Principles? Second Edition June 2016
Letter from BankTrack to Thun Group on concerns regarding Thun Group discussion paper on human rights
Comments on Thun Group of Banks Discussion Paper
Letter from BankTrack and others to Thun Group of Banks on Significant Concerns Regarding Thun Group Discussion Paper
Banking with Principles?
Dirty Profits III
The price of doing too little too late
Thun Group of Banks Response to a question at the UN Forum on Business and Human Rights, December 2012
Statement by the Thun Group of banks on the "Guiding principles for the implementation of the United Nations 'protect, respect and remedy' framework" on human rights
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.