UniCredit is stepping up its efforts in terms of sustainability by presenting new ESG targets in a document listing over 1,200 ideas on how to protect climate.
Proposals included in the plan range from recycling to waste, mobility, further raising awareness, energy efficiency, pollution prevention and eating habits.
In order to ensure the implementation of these initiatives, the company has appointed a Millenial Board made up of employees from 22-32 years old, working collectively to challenge pre-conceived patterns and raise awareness on the views of new generations on banking topics, while proposing innovative ideas and solutions.
Jean Pierre Mustier, UniCredit Group CEO, said: "Sustainability is part of our Group's DNA and a key component of our business model."UniCredit is committed to protecting our natural capital, including the environment. Every company has to do more than ‘business as usual' - it is now the time to act and make an impact. Building a sustainable future is an important challenge for both people and businesses. The measures announced today, as part of our wider sustainability strategy, make sure that we always: Do the right thing!"
As part of its long-term sustainability commitments, the company says it is minimising its direct environmental impact through specific energy choices. Since 2008, the group has halved its greenhouse gas emissions, committing to reaching a 60% reduction by 2020 and 80% by 2030.
In the same line, it has also committed that all the electricity consumption in their buildings in Italy, Germany and Austria will come from renewable energy sources by 2023.
In terms of plastic-free, the firm claims it is distributing re-usable metal drinking bottles across the Group. The Group is also using technology to further limit the use of paper, such as the Paperless Branch Programme in Italy, which led to the scanning and digital storage of around 9 million documents last year.
With regards to divestment from fossil fuels, the company has committed to fully exit thermal coal mining projects by 2023. "Corporate financing for clients active in these areas will only be allowed if their share of revenues from non-supported activities is under 25%," the company said in a note.
UniCredit has committed to increase its exposure to the renewable energy sector by 25% by 2023 to €9bn as well as increasing energy efficiency loans to customers by 34% for WEU SMEs, by 25% for WEU individuals and CEE new origination to >6% of total loans.