One of the fundamental values we have at UniCredit is that we genuinely listen to our stakeholders, strategically mapping and measuring their interests and investing regularly in an effective engagement and feedback process.
Acknowledging stakeholders' expectations and efficiently managing the risks and opportunities attached to them is essential when it comes to developing strategies to increase positive impact and minimise negative impact, key to longterm value creation.
Stakeholder engagement has always been a valuable activity for us, even more so this year as it represents a key step in the definition of our new ESG Strategy, part of UniCredit Unlocked.
UNDERSTANDING STAKEHOLDERS' EXPECTATIONS: MEETINGS FOR STRATEGIC PLANNING
In September we met our key stakeholder groups to obtain their opinion on UniCredit ESG ambitions.
Our business strategy, long-term value creation and stakeholder engagement relies on our materiality matrix. The long term life of a business depends on its ability to adapt to stakeholders' expectations, identify negative impact and reduce it. This dynamic materiality concept recognizes that what is considered material can change over time and therefore takes a forward-looking approach to ESG topics, allowing a more regular action on newly identified risks and financially relevant issues.
This year, engagement with stakeholders has led us to enhance our materiality matrix even further by underlining the actual and tangible needs to take into account. Our analysis is based on information sourced externally by the Datamaran tool and internally during engagement with stakeholders. The external sources enabled us to examine the main laws and directives impacting the financial sector of the regions in which we operate, analyse the latest news on the sector on online media and social networks and to benchmark our report against those of other banks.
The data taken into account includes outside-in perspectives (financial materiality) as well as the inside-out perspectives described above. The financial point of view is highlighted by material topics with bigger icons and bold font.
THE SCOPE OF OUR FOOTPRINT