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Setting the benchmark for excellence 2024 Annual Reports and Accounts Corporate information Board of Directors, Audit Committee and External Auditors as at 31 December 2024 Board of Directors Chairman Pietro Carlo Padoan Deputy Vice Chair Elena Carletti CEO Andrea Orcel Directors Paola Bergamaschi, Paola Camag... |
January 2025 appointed Ms. Paola Maria Di Leonardo as Secretary of the Board replacing Mr. Alessandro Paladini. (**) The Board of Directors of 10 February 2025 appointed Mr. Giuseppe Zammarchi as Sustainability Reporting Manager. UniCredit has chosen not to print official copies of this report, leading by example in ... |
10 14 16 24 30 UniCredit at a glance Business model 2024 highlights Letter from the Chairman Letter from the Chief Executive Officer Investment case Strategic framework 2024 Key milestones Strategic focus areas Financial Review 60 Financial Progress ESG Review 66 ESG Strategy & Progress Preliminary Notes... |
beat all the targets set in 2021. This performance balances excelling in the short-term and preparing for the future and is a testament to the dependability of UniCredit and its people. Financial highlights TOP-LINE GROWTH OPERATIONAL EFFICIENCY GOP €24.8bn Gross Revenue +4.3% FY/FY +4.0% Net Revenue 37.9% Co... |
advanced our sustainable financial instruments, reaching a total of €26.9 billion in cumulative green lending since January 2022. Social Social financing for initiatives in our communities. Since 2022, we have provided €13.2 billion in social financing via micro-credit, impact financing and lending to disadvan... |
in the macroeconomic environment that have rocked the world since we first put out our strategic plan, UniCredit Unlocked, into action. Global growth has been stifled by multiple wars compounding an already fraught macroeconomic environment post-pandemic. Globalisation is fracturing increasingly under this pressu... |
our fundamental Purpose: to Empower Communities to Progress. We continued to honor our ESG commitments with notable social investments, such as our €2.6 billion “UniCredit for CEE” initiative and our new Edu-Fund platform, supporting programmes addressing educational deprivation in our communities. Together, t... |
if accretive 15 UniCredit 2024 Annual Reports and Accounts Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportESG ReviewStrategic Review Our Purpose-led strategic framework UniCredit Unlocked has proven to be a successful Group Strategy that plays to our strengths. We are evolving that Strateg... |
inclusive environment that has no ceiling, with no limit to how high and far our team can go. As a Group, we provide a diverse and dynamic international experience that only a pan-European bank such as UniCredit has to offer. > Challenge seekers and changemakers – in our team we have talented, dedicated and ope... |
ensuring long-term, sustainable growth and delivering value to all our stakeholders By operating with the right Principles and Purpose, we have the power to do tremendous good – for our clients and communities, our people, our shareholders and investors. We actively communicate and engage with national, Europe... |
UniCredit 2024 Annual Reports and Accounts Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportESG ReviewStrategic Review UniCredit’s online branch buddy becomes new official banking partner of the Davis Cup 2024 Delivering excellence in 2024 continued UniCredit supports Education Academy project... |
of educational deprivation Zaba's AI virtual assistant enhanced Saving clients’ and bankers’ time Launch of UniCredit for CEE Helping micro and small enterprises to grow 27 UniCredit 2024 Annual Reports and Accounts Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportESG ReviewStrategic Rev... |
innovative greenfield investment November December 3Q24 & 9M24 Group Results Record third-quarter and nine-month results, ushering in a new era of sustainable quality growth FT names UniCredit Global Bank of the Year Won the award for the second time UniCredit Bulbank to use 75% green energy Contract signed... |
and Herzegovina. 41 UniCredit 2024 Annual Reports and Accounts Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportESG ReviewStrategic Review Strategic focus areas Simplification and streamlining continued October Germany Leading the way for digital corporate banking in Germany HypoVereins... |
passes for the AC37 Preliminary Regatta in Vilanova i la Geltrú, near Barcelona, so our people could experience the event first-hand. We also had a stand at the Race Village at the Louis Vuitton 37th America’s Cup and Puig Women’s Cup, with engaging activities for colleagues. “We are proud to be partnering with... |
€15 million social impact loan In line with our ESG Strategy, UniCredit has provided a social impact loan of €15 million over eight years to Nuova Assistenza, a cooperative working in the socio-health, welfare and educational sectors in Italy. The investment is backed by SACE’s Garanzia Futuro and is subsidised d... |
solutions to small businesses across the CEE region, helping them grow and transition to more sustainable business practices. Accounts management In some markets and under certain conditions, fee-free periods are offered to third sector organisations and newly onboarded clients. Finance 60 different finance so... |
greater than 17% RoTE, an average organic capital generation broadly in line with Net Profit, and the return of our excess capital2. We continue to target strong EPS and DPS growth. This will result in six years of improving performance and growth at an increasing margin over our cost of equity, which, coupled wi... |
Read more on page 68 1 5 Promoting ESG awareness across our organisation and beyond Read more on page 78 66 UniCredit 2024 Annual Reports and Accounts 2 4 3 Advancing a distinctive social approach with tangible results Read more on page 70 2 1 5 Over recent years we have built strong ESG fou... |
associations through an innovative digital platform. 22 Partners 29,000 Companies Launched in 2021 and involving more than 29,000 companies and 22 partners, Open-es is an inclusive and collaborative ecosystem committed to achieving ESG targets and implementing innovative solutions. In this alliance, our role ... |
for a total value of €35 billion earmarked for individuals and businesses since 2022. €15bn Increased funding available to the Italian production system UniCredit 2024 Annual Reports and Accounts 69 Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportESG Review ESG Review continued 2 A disti... |
employee networks, bias-free processes and equal opportunities > We prioritise employee well-being and quality of life through initiatives such as “Ask for Help” resources, flexible working arrangements, mental health awareness activities, prevention programmes, and local welfare benefits. 70 UniCredit 2024 An... |
ReportESG Review ESG Review continued 3 Clear commitments to support a just and fair transition In 2019: Signed the UNEP FI Principles for Responsible Banking (PRB), which support banks in aligning their business strategy with society’s goals and promote financial inclusion. 2019 2021 In 2022: Signed the Sust... |
addressed nature-related issues, including adopting the Equator Principles and publishing policies on sensitive sectors alongside commitments on human rights. Our first step for our Natural Capital Framework was to evaluate sources, methodologies and frameworks to effectively address key challenges related to b... |
the publication of the ‘PRB Nature Target Setting Guidance’, which aims to help the banking sector align with the Kunming- Montreal Global Biodiversity Framework and halt biodiversity loss. UniCredit 2024 Annual Reports and Accounts 73 2024 Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportE... |
a reduced environmental impact. The process uses black soldier fly larvae to recycle feed-grade food industry by-products with minimal water and soil use. It can use 30% of the world’s food production, which would otherwise go to waste, and is pioneering sustainable animal feed production in the Hungarian marke... |
Green Loans in the steel sector worldwide and the first in Germany. UniCredit 2024 Annual Reports and Accounts 75 Company ReportOtherStrategic ReviewFinancial ReviewConsolidated ReportESG Review ESG Review continued 4 Full accountability and transparency, along with a robust risk framework We set a comprehensi... |
Agency (AUER). The new agreement encompasses all of the bank’s locations across Bulgaria, except for some leased premises where electricity is invoiced by the landlord. This partnership aligns with UniCredit Group’s goals. We were the first bank in Italy to commit to a corporate power purchase agreement (PPA) w... |
concrete actions. We considered topics such as: How do we resolve relevant trade-offs? How can we prioritise social issues in our approach? How can we better support our ESG- focused clients? 78 UniCredit 2024 Annual Reports and Accounts Success story ESG Day 2024 tackles pressing challenges head-on Un... |
offs > Manage conflicting interests as part of the transition, with balancing act between environmental, social and biodiversity issues > No silver bullet for this difficult situation; firms will have to take a nuanced approach, drive gradual progress with clear governance > Be realistic about what is being sac... |
COP15 to halt and reverse nature loss, putting nature onto international agendas. The financial sector’s wider presence signals increasing attention. Moving ESG discussions forward The Group ESG team, with support from UniCredit Group Investment Strategy and Group Stakeholder Engagement launched a white paper on... |
on social lending with €13.2bn since January 2022. 15% 15% ESG Investment Products2 Positive year with improved ESG penetration rate at 53% (c.€106bn stock) at FY24 vs 48% at December 2023. Sustainable Bonds3 Good performance with €32.9bn issuance since January 2022 with focus on Corporates and Financial I... |
Senior Green Bonds 3 (Jun 21, €1bn; Nov 22, €1bn; Nov 23, €0.75bn) We disclosed our first Transition Plan, which outlines the implementation of key enablers to embed Net Zero into our organisation for the three priority sectors. Green Mortgage Covered Bonds 2 (May 22, €0.5bn; Sep 22, €0.5bn) 3 (May 22, €0.5bn;... |
communities such as UniCredit per l’Italia, adding up to €35 billion (including additional €5 billion to support corporates with “Piano Transizione 5.0”)1. We also joined the Venice Sustainability Foundation to promote local Sustainability and issued a €155 million social bond to support communities. In 2024, our... |
Group part of Culture Network +1,000 Active members in our Employee Networks In 2024: > 7 Culture Roadshows were held reaching 3,000 colleagues across the Group’s Countries > c.20,000 colleagues joined Annual Culture Day Group-wide > In the context of our well-being framework: > 365 initiatives mapped a... |
efficiency and risk reduction. Extensive cross-functional collaboration, including senior management oversight, ensured accurate identification and reporting of key Sustainability topics. Close alignment with local legal entities across our operating countries guaranteed consistent compliance. This commitment u... |
environment, address regulatory expectations, rising geopolitical tensions and evolving customer needs. In this context, we have evolved our ESG strategic framework to ensure it includes all key enablers and levers needed to effectively support our communities. The key changes are: Goals > Updated ESG business t... |
our Purpose of Empowering Communities to Progress. Goals Evolving in step with regulation and market forces ESG penetration targets allowing for a more transparent and meaningful view on our ESG performance while also aligning our lending portfolio with Net Zero emissions by 2050. Levers Championing Social Backi... |
evolving strategy includes fulfilling our social role through social finance with projects supporting youth and balancing environmental and social risks. We are also exploring how we can best support our communities in addressing emerging social challenges, such as health. We continue to support our communities ... |
UniCredit Group’s due diligence system. > Impact materiality assesses a business’s potential or actual impacts on people and the environment, considering severity and likelihood > Financial materiality evaluates risks and opportunities affecting economic performance. 02 Methodology For our 2024 DMA, we: > ... |
Sustainability reporting, emphasising greater transparency, standardisation and accountability in how organisations report on their environmental, social and governance (ESG) performance and impacts. In previous years, we used the Global Reporting Initiative (GRI) standards to disclose our material topics in ou... |
related to critical ESG challenges, ensuring that we remain resilient and competitive in an evolving global landscape. Read more on the actions, impacts and aspirations set out in these Statements as we advance toward a more sustainable tomorrow. UniCredit 2024 Annual Reports and Accounts 91 Company ReportOt... |
compliance with the instructions of Banca d’Italia with the Circular 262 of 22 December 2005 (and subsequent amendments). These instructions define binding requirements for the related fulfilling methods as well as regarding the minimal contents of the Notes to the accounts. In accordance with the (EU) directive ... |
leads to the elimination of duplications of the qualitative information presented in both files and, in order to facilitate the reading, the adoption of a system of cross-references between the chapters dedicated to the consolidated financial statements and the company ones; pursuant to these references the contents ... |
the Report on operations, the economic results achieved, the Group’s financial situation and Annexes. A section dedicated to Corporate Governance is also included within the document. The Consolidated financial statements include: • the Consolidated financial statements certification; • the Sustainability statem... |
accounts Contribution of the sector of activity to the results of the Group Sustainability statements Other information Report on corporate governance and ownership structure Report on remuneration Research and development projects Group activities development operations and other corporate transactions Orga... |
risk B. Legal risks C. Risks arising from employment law cases D. Risks arising from tax disputes E. Other claims by customers Quantitative information 2.6 Other risks Other risks included in Economic Capital 1. Business risk 2. Real estate risk 3. Financial investments risk Reputational risk Top and e... |
Qualitative information Quantitative information Qualitative information Quantitative information 2.2.3 Exchange rate risk Qualitative information Quantitative information Credit spread risk Stress test A. Financial Derivatives B. Credit derivatives 2.3.2 Hedging policies Qualitative information... |
665 Part F - Consolidated shareholders’ equity Section 1 - Consolidated Shareholders’ Equity A. Qualitative information B. Quantitative information Section 2 - Own funds and banking regulatory ratios Part G - Business combinatios Section 1 - Business combinations completed in the year Section 2 - Business... |
ReviewESG ReviewConsolidated Report Consolidated report on operations Reclassified consolidated accounts Reclassified consolidated balance sheet - Quarterly figures ASSETS Cash and cash balances Financial assets held for trading Loans to banks... |
inclusion in “Net income from investments” of (i) net losses/recoveries on financial assets at amortised cost and at fair value through other comprehensive income - debt securities, (ii) gains (losses) on tangible and intangible assets measured at fair value, (iii) gains (losses) of equity investments and on disposal... |
(5,861) (2,603) 81 (1,078) (9,460) 14,366 (560) 13,806 (1,023) (955) (1,060) (272) 11,451 (1,914) - 9,537 (27) 9,510 (4) - 9,507 P&L + 353 + 11 + 573 - 4 + 84 + 1,018 + 8 + 7 + 24 + 16 + 55 + 1,073 - 81 + 992 - 45 + 440 + 219 + 243 + 1,409 ... |
- Notes to the consolidated accounts, Part L - Segment reporting. Summary results by business segments 112 UniCredit 2024 Annual Reports and Accounts UniCredit 2024 Annual Reports and Accounts UniCredit 2024 Annual Reports and Accounts 113 113 Company ReportOtherStrategic ReviewFinancial ReviewESG Revie... |
capital and for a total value equal to the maximum authorized disbursement (€1,585 million). The purchased shares were cancelled without reduction of the share capital on 26 June 2024 in implementation of the resolution adopted by the Shareholders' Meeting of 12 April 2024. On 24 June 2024, the third and final tranc... |
positive contribution of Bulgaria, Serbia and Croatia. 3 Group net profit (loss) net of DTAs write-up or cancellations on losses carried forward deriving from the update of sustainability tests. 4 Russia includes AO UniCredit Bank with other local legal entities and cross-border exposures accounted for in UniCredit... |
2023. The amount of provisions as at 31 December 2024 was determined by the combined effect of the following events: (i) write-downs related to flows to defaults of €1,334 million (ii) write-backs related to outflow from default to performing of €278 million (iii) write-backs related to other portfolio dynamics of ... |
(5,861) (2,603) 81 (1,078) (9,460) % CHANGE - 0.1% - 0.3% + 29.7% - 1.5% - 0.6% 2024 Q4 (1,572) (694) 28 (272) (2,510) (€ million) % CHANGE ON Q3 2024 + 10.2% + 11.5% + 50.6% + 4.2% + 9.5% Thanks to sustained revenue growth (up 4.3%) and cost containment (down 0.... |
97.34% 4,673 1.09% 423,282 98.56% EXPOSURES TO PAY PAST-DUE NON- PERFORMING NON- PERFORMING UNLIKELY TOTAL (€ million) TOTAL LOANS 427,545 9,167 418,378 439,648 10,196 429,452 122 UniCredit 2024 Annual Reports a... |
8,983 2023 10,904 (3,917) (403) 6,584 5,612 152,120 188,434 108,073 2,208 14,975 + 25.4% 35.9% 22 bps 27,528 2023 5,417 (2,400) (183) 2,835 2,119 125,107 138,192 69,473 698 9,695 + 16.0% 44.3% 14 bps 9,819 % CHANGE + 4.1% - 0.1% + 24.2% + 5.4% + 10.0% - 5.0% - 2.4% - 6... |
16 bps + 12.5% 2024 Q4 1,053 (410) (58) 585 526 91,988 96,899 58,559 162 7,592 + 19.5% 39.0% 25 bps 9,844 2024 Q4 755 (264) (67) 425 334 40,614 53,338 34,710 91 4,080 + 21.1% 34.9% 70 bps 14,641 (€ million) % CHANGE ON Q3 2024 - 3.1% + 3.3% n.m. - 15.1% - 18.0% - ... |
60,492 861 7,873 + 21.0% 38.1% 4 bps 10,191 2023 2,591 (850) 72 1,813 1,713 33,570 47,104 28,743 896 3,540 + 36.9% 32.8% - 22 bps 13,019 % CHANGE + 1.4% - 1.1% - 19.7% + 3.3% + 9.8% - 3.5% + 3.7% - 3.2% + 6.6% - 2.8% + 1.9 p.p. - 0.9 p.p. - 1 bp... |
results 132 132 UniCredit 2024 Annual Reports and Accounts UniCredit 2024 Annual Reports and Accounts Consolidated report on operations Consolidated report on operations Group results Sustainability statements Sustainability statements ESRS 2 - General information Basis for prepar... |
302 313 314 314 314 318 132 UniCredit 2024 Annual Reports and Accounts UniCredit 2024 Annual Reports and Accounts UniCredit 2024 Annual Reports and Accounts 133 133 Company ReportOtherStrategic ReviewFinancial ReviewESG ReviewConsolidated Report Consolidated report on op... |
out an analysis on all the controlled not consolidated companies and the final result is that they are not material from a sustainability point of view and therefore they are not consolidated even in this perspective (for further details reference is made to the Notes to the consolidated accounts, Part A - Accounting... |
covering the full perimeter of their operations also for 2024. UniCredit group’s Sustainability Statements cover both upstream and downstream value chain segments. On one hand, the upstream value chain segment mainly covers tier 1 suppliers and business partners (reference is made to “BP-2 Disclosures in relation t... |
know-how or the results of innovation. BP-2 - Disclosures in relation to specific circumstances For UniCredit group, the time horizons are classified as: • Short term: <1 year • Medium-term: >1-5 years • Long-term: 5-10 years or more. These definitions prove to be coherent and concretely implemented across mul... |
investors, regulators and other key parties have been engaged to confirm time horizons, which also align with initiatives such as the Task Force on Climate-related Financial Disclosures (TCFD). As indicated before, topical standards require to include value chain quantitative data only for some metrics. Such metrics... |
counterparties, including not only large international companies but also SMEs, which may not have the necessary resources to easily and quickly provide the information of interest to the reporting; • the information on the value chain could not have the qualitative characteristics required by the standard due to t... |
estimations involved. The preparation of value chain metrics follows globally recognised frameworks, ensuring consistency and comparability across reporting periods. The primary frameworks used included: • Greenhouse Gas (GHG) Protocol for calculating Scope 3 emissions, covering both upstream and downstream activit... |
baseline, delayed transition, and energy disorder (reference is made to Part E of the Notes to consolidated accounts). When quantitative metrics, including upstream and downstream value chain information, cannot be measured directly and can only be estimated, measurement uncertainty may arise. The use of reasonable... |
metrics. Such metrics for the Group include Scope 3 GHG emissions from each significant Scope 3 category (reference is made to the paragraph “E1-6 – Gross Scopes 1, 2, 3 and Total GHG emissions”). These emissions typically require data directly provided from clients, suppliers, business partners and other counterpa... |
the standard due to the possible lack of technical readiness of the actor in the value chain. UniCredit decided to use estimation processes based on proxies and sector data to estimate the value chain quantitative metrics (scope 3 GHG emissions) and to consider only first-tier counterparties in mapping its value ... |
upstream and downstream activities; • Partnership for Carbon Accounting Financials (PCAF) for estimating Scope 3 emissions related to loans and investments in the financial portfolio. These methodologies provide structured approaches for collecting, estimating, and reporting data where direct measurements are not... |
uncertainty may arise. The use of reasonable assumptions and estimates, including scenario analysis, proxies and sector data, is an essential part of preparing sustainability-related information and does not undermine its usefulness, provided that the assumptions and estimates are accurately described and explained... |
line with the latest standards and market developments. By applying these estimation techniques and methodologies, UniCredit ensures that the sustainability metrics provide a meaningful representation of the bank’s impact across the value chain, supporting the commitment to transparent and responsible reporting. Ch... |
adopted the one-tier corporate governance system based on the existence of a Board of Directors, which is in charge of the strategic supervision and management of the Company, and of an Audit Committee, established within the Board itself, performing specific control functions, both appointed by the Shareholders’ Mee... |
at least 3 and no more than 5 Directors. The members of each Committee, and among them the Chair, are appointed and dismissed by the Board of Directors. The Articles of Association also provide for the Board of Directors to appoint within its members a Chief Executive Officer, who is given not only the specific pow... |
Related- Parties Committee. Their duties are carried out in accordance with the rules set by the Board. With reference to the composition of the above Board Committees, the Board of Directors, appointed by the Shareholders’ Meeting held on 12 April 2024, set respectively: • at 4 the number of the members of the Gov... |
138 138 UniCredit 2024 Annual Reports and Accounts UniCredit 2024 Annual Reports and Accounts Consolidated report on operations Consolidated report on operations Sustainability statements Sustainability statements Regarding professional experience requirements,... |
institutional sector or in the consulting sector is relevant only if strictly related to sustainability issues; • legal, regulatory, AML and compliance, achieved through an appropriate number of years (at least three years dating back not more than 10 years) as a lawyer/attorney or in top executive roles (Chief Ex... |
programme and recurrent training respectively include sessions aimed at fostering the integration of new Directors and training to preserve over time the expertise needed for the proper fulfilment of their duties. In addition, individual training plans will be activated, should they be deemed necessary, to strengthe... |
general task of ensuring the execution of the Board resolutions. At the approval date of this document, the Board of Directors is made up of 14 Directors, of whom 1 is an executive and 13 are non-executive Directors (with a quota equal to 93%). The Chief Executive Officer, also covering the role of General Manager,... |
own assessment on the best composition of the corporate bodies and file candidacies consistent with that assessment, providing reasons for any difference vis-à-vis the analyses carried out by the Board of Directors. The outcomes of the check on the matching between the qualitative and quantitative composition deeme... |
skills and expertise in line with the provisions of the theoretical profile. The skills and expertise embedded in the UniCredit Board of Directors are suitable for managing impacts, risks and opportunities related to ESG matters. Theoretical and practical experience of the Board of Directors' members INTERNATIONA... |
Governance and Sustainability Committee - Director - Member of the Nomination Committee - Director - Chair of the Related- Parties Committee and member of the Remuneration Committee - Director and Chair of the Audit Committee - Member of the Risk Committee - Director - Member of the Risk Committee and of... |
related to ESG matters. Theoretical and practical experience of the Board of Directors' members FINANCIAL AND INTERNATIONAL INTERNATIONAL EXPERIENCE MARKETS BANKING GOVERNANCE BANKING BUSINESS STRATEGIC PLANNING RISK AND CONTROL ACCOUNTING SUSTAINABILITY AND AUDIT (ESG) DIGITAL & ... |
countries other than Italy); • all members have skills in legal, regulatory, AML and compliance, in risk and control as well as in accounting and audit (with a quota equal to 100%). Furthermore, 50% have skills in sustainability (ESG). With regard to the composition of the Governance and Sustainability, Risk, Nom... |
3; 100% of its members are in the 50-65 years age range; 25% come from countries other than Italy; • in the Remuneration Committee the quota of women is equal to 67% of its members, with a ratio of female to male equal to 2; 33% of its members are in the 50-65 years age range and 67% are over 65 years old; 67% co... |
impacts, risks and opportunities, according to their respective areas of competence. The UniCredit Board of Directors (i) defines the overall strategy of the Bank and the Group, of which the Group’s ESG Strategy and its associated KPIs are an important pillar, and oversees its implementation over time, and (ii) est... |
Committee supports the Board of Directors in risk management related matters, performing all the activities instrumental and necessary for the Board to make a correct and effective determination of the Risk Appetite Framework and of the risk management policies. In particular, the Risk Committee supports the Board (i... |
Company’s competent functions: • identifies the Company’s risks submitting them to the Board. To that end, the Chief Executive Officer must have in-depth knowledge about all corporate risks and, as part of an integrated management-oriented approach, their reciprocal relationships, taking into account how external ci... |
Association. The responsibilities of the Chief Executive Officer are described and formalised in the UniCredit Organisational Book, adopted by the Company in accordance with the applicable provisions. According to national provisions, also of a regulatory nature, the roles and responsibilities assigned to the bodie... |
of Conduct has been written in line with UniCredit Group values, integrity, ownership and caring, that drive our purpose to deliver exceptional performance and have a positive impact on our customers, shareholders, communities and our people. At UniCredit, our mindset is to “win in the right way and together”, puttin... |
over time, and (ii) establishes policies to govern the risks to which the Group may be exposed, risk targets and tolerance thresholds, as well as reviewing them periodically in order to ensure that they remain effective over time, and monitoring that risk management and control processes tangibly work, in complianc... |
Committee supports the Board (i) in defining and approving the risk management strategic guidelines, framework and policies, including those regarding climate and environmental risks, non-compliance risk, and risk data quality; and (ii) in verifying that risk strategies, management policies and the RAF are correctl... |
taking into account how external circumstances (including macroeconomic risks) evolve; • identifies the strategies regarding the overall steering of the Bank and of the Group to be submitted to the Board; • ensures the implementation of the strategic guidelines, the RAF and the risk management policies defined by... |
and responsibilities assigned to the bodies charged respectively with supervisory strategic functions and with management (executive) functions within the internal control system could not be delegated. Within the internal control systems, specific controls and monitoring activities are carried out specifically in ... |
Management Group Client Solutions Group ESG ESG advisory Climate Risk and Risk Governance Credit Risk Strategies, Monitoring and Controls * The full suite of Board Committees includes also the Remuneration Committee, the Nomination Committee, and the Related-Parties Committee. 144 144 UniCredit 2024 A... |
Remuneration Committee, the Nomination Committee, and the Related-Parties Committee. The Group Executive Committee (GEC) is the Group’s most senior executive committee and is chaired by the CEO. Its mission includes establishing the banks’ comprehensive ESG strategy, including the formulation of initiatives related ... |
also responsible for target setting in ESG matters. Specifically, GEC members contribute to targets based on the expertise of their respective functions in the context of specific processes [multiyear plan, annual budget, …]. Once defined, these targets are submitted to the Board (e.g., net zero targets). Subsequentl... |
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