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  • Overall approach
    8/16
    • Overarching commitment on deforestation
      8/14
      Deforestation commitment
      Reduce deforestation
      8/14
      "The objective is to ensure that our activity does not favor deforestation or forest degradation, unless appropriately mitigated. We will not provide financial services to customers involved directly (and in case of specific projects also indirectly) in: illegal logging; wood registered in violation of traditional and civil rights; wood immersed in forests where high conservation values are threatened by industry; or forests converted illegally into planting or illegal use of fire. For project finance transactions including project finance advisory, along with certain project-related corporate loans and bridge loans, the standards established by the Equator Principles also apply. This commitment refers to all transactions project related with a potential impact on rainforests."
    • Company must have anti-corruption policy
      0/2
  • Commodity score
    11/64
    • Beef & Leather
      9/64
      • Commitment Strength
        9/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must protect priority forests or globally important landscapes
          9/9.6
          • Commitment details
            All high priority landscapes - Required
            8/8
            Commitment details
            All high priority landscapes - Required
            8/8
            "Exclusion list In view of the substantially higher risks involved, the UniCredit Group will not support any of the following activities: • Operations with adverse violations on human rights • Operations in or immediately adjacent to UNESCO World Heritage Sites unless the activities predate the UNESCO designation • Operations in or directly affecting areas officially protected for conservation purposes (i.e., IUCN I-IV protected areas) or those proposed for such designation1 • Operations in or directly affecting wetlands on the Ramsar List2 • Operations in or directly affecting Primary Tropical Moist Forests, High Conservation Value Forests, or Critical Natural Habitats, where significant degradation or conversion is involved • Operations in or directly affecting rainforests3."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        0/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Palm oil
      8/64
      • Commitment Strength
        8/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must protect priority forests or globally important landscapes
          8/9.6
          • Commitment details
            All high priority landscapes - Required
            8/8
            Commitment details
            All high priority landscapes - Required
            8/8
            "Exclusion list In view of the substantially higher risks involved, the UniCredit Group will not support any of the following activities: • Operations with adverse violations on human rights • Operations in or immediately adjacent to UNESCO World Heritage Sites unless the activities predate the UNESCO designation • Operations in or directly affecting areas officially protected for conservation purposes (i.e., IUCN I-IV protected areas) or those proposed for such designation1 • Operations in or directly affecting wetlands on the Ramsar List2 • Operations in or directly affecting Primary Tropical Moist Forests, High Conservation Value Forests, or Critical Natural Habitats, where significant degradation or conversion is involved • Operations in or directly affecting rainforests3."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all deals
            No
            0/0.4
            Policy applies to all deals
            No
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all companies
            No
            0/0.4
            Policy applies to all companies
            No
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all stages of the supply chain
            None
            0/0.4
            Policy applies to all stages of the supply chain
            None
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        0/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Soy
      9/64
      • Commitment Strength
        9/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must protect priority forests or globally important landscapes
          9/9.6
          • Commitment details
            All high priority landscapes - Required
            8/8
            Commitment details
            All high priority landscapes - Required
            8/8
            "Exclusion list In view of the substantially higher risks involved, the UniCredit Group will not support any of the following activities: • Operations with adverse violations on human rights • Operations in or immediately adjacent to UNESCO World Heritage Sites unless the activities predate the UNESCO designation • Operations in or directly affecting areas officially protected for conservation purposes (i.e., IUCN I-IV protected areas) or those proposed for such designation1 • Operations in or directly affecting wetlands on the Ramsar List2 • Operations in or directly affecting Primary Tropical Moist Forests, High Conservation Value Forests, or Critical Natural Habitats, where significant degradation or conversion is involved • Operations in or directly affecting rainforests3."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        0/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Timber, Pulp & Paper
      18/64
      • Commitment Strength
        18/42
        • Commodity-specific financing policy
          9.2/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Reduce deforestation
            "We will not provide financial services to customers involved directly (and in case of specific projects also indirectly) in: illegal logging; wood registered in violation of traditional and civil rights; wood immersed in forests where high conservation values are threatened by industry; or forests converted illegally into planting or illegal use of fire. "
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "We will not provide financial services to customers involved directly (and in case of specific projects also indirectly) in: illegal logging; wood registered in violation of traditional and civil rights; wood immersed in forests where high conservation values are threatened by industry; or forests converted illegally into planting or illegal use of fire. "
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We will not provide financial services to customers involved directly (and in case of specific projects also indirectly) in: illegal logging; wood registered in violation of traditional and civil rights; wood immersed in forests where high conservation values are threatened by industry; or forests converted illegally into planting or illegal use of fire. "
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We will not provide financial services to customers involved directly (and in case of specific projects also indirectly) in: illegal logging; wood registered in violation of traditional and civil rights; wood immersed in forests where high conservation values are threatened by industry; or forests converted illegally into planting or illegal use of fire. "
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We will not provide financial services to customers involved directly (and in case of specific projects also indirectly) in: illegal logging; wood registered in violation of traditional and civil rights; wood immersed in forests where high conservation values are threatened by industry; or forests converted illegally into planting or illegal use of fire. "
        • Companies must be legally operated
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must protect priority forests or globally important landscapes
          9/9.6
          • Commitment details
            All high priority landscapes - Required
            8/8
            Commitment details
            All high priority landscapes - Required
            8/8
            "Exclusion list In view of the substantially higher risks involved, the UniCredit Group will not support any of the following activities: • Operations with adverse violations on human rights • Operations in or immediately adjacent to UNESCO World Heritage Sites unless the activities predate the UNESCO designation • Operations in or directly affecting areas officially protected for conservation purposes (i.e., IUCN I-IV protected areas) or those proposed for such designation1 • Operations in or directly affecting wetlands on the Ramsar List2 • Operations in or directly affecting Primary Tropical Moist Forests, High Conservation Value Forests, or Critical Natural Habitats, where significant degradation or conversion is involved • Operations in or directly affecting rainforests3."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "This commitment refers to all transactions project related with a potential impact on rainforests."
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        0/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
  • Reporting & Implementation
    5/20
    • Policy is reviewed and updated
      0/5
    • Companies must disclose subsidiaries in commodity supply chains
      0/5
    • Monitoring and non-compliance process
      5/5
      Monitoring compliance
      Yes - Screening and monitoring process
      5/5
      "Transactions that carry intrinsically higher risks require an independent expert or third-party review (e.g. Environmental and Social Impact Assesment or equivalent) in order to ensure a rigorous approach to identifying, quantifying and, where appropriate, mitigating and monitoring risks. [...] Framework of standards for determining, assessing and managing environmental and social risk for large projects [...] Framework of sector-specific standards/guidelines to identify, assess and mitigate environmental, social and reputational risks/impacts on an ongoing basis with our clients [...] >900 transactions were screened for environmental, social and reputational risk issues (vs. >700 in 2018) [...] >200 transactions were screened for environmental, social/human rights and reputational risk issues"
    • Reporting on implementation of the policy
      0/5
  • Commitment strength
    11/42
    Avg. score
  • Social considerations
    0/22
    Avg. score

Profile

Unicredit SPA are a bank and asset management company, headquartered in the Italy serving private, corporate and institutional clients. Their services include: commercial banking, investment banking, asset management, and advisory services. As of 2017, their total assets amount to over 820 billion EUR with 500 billion EUR worth of loans. Unicredit SPA are among the top 30 lenders to Forest 500 companies, with loans amounting to more than 9 billion USD across a broad range of forest risk sectors . They are also an important shareholder in Forest 500 companies, ranking among the top 80, with shares worth more than 4.8 billion USD.  

HQ
HQ 
Italy
Financial institution type
Financial institution type 
Asset management, Bank

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.