UniCredit is the First Italian Bank to Sign the Finance for Biodiversity Pledge

UniCredit is the first Italian bank to sign up to the Finance for Biodiversity Pledge (FfB). The Bank is joining the Pledge among 15 financial institutions today. The Pledge acknowledges that the Earth’s biosphere is the foundation of human resilience and progress and that it is under increasing stress. Its signatories are therefore calling for and committing to take ambitious action on biodiversity to reverse nature loss in this decade through collaboration, engagement with counterparties, and assessment of their own biodiversity impact, setting relevant targets and reporting on biodiversity matters by end of 2024.

Andrea Orcel, CEO of UniCredit, commented: “Biodiversity loss and climate change are impacting millions of people today, especially the most vulnerable in our society. This is an urgent challenge where change is vital towards a better and more sustainable world for our future generations. We are therefore proud to join the Finance for Biodiversity Pledge as the first bank in Italy, in line with our Net Zero commitment and ESG Strategy, to play our part in the collective effort to protect and reverse nature loss and to finance a fair and just energy transition, ensuring a more sustainable future for our planet and its people.”

The Finance for Biodiversity Pledge is a collective commitment by the financial sector to make a positive contribution to biodiversity through their activities and investments. The Pledge was launched in 2020 by a group of 26 financial institutions during the Nature for Life Hub and the Biodiversity Summit of the United Nations General Assembly. Since then, the number of signatories has grown to 126. UniCredit is joining the FfB Foundation as a collaborating member with the aim to actively participate in the working groups contributing to the main discussions of the Pledge and facilitating the collective action needed to accomplish the Foundation’s mission of supporting a call to action and collaboration among financial institutions to reverse nature loss this decade.

The commitment is fully in line with UniCredit’s ESG Strategy and Net Zero pledge, targeting Net Zero on the Bank’s own emissions by 2030 and on its financed emissions by 2050. It is furthermore complementary to ongoing work to progressively reduce the Group’s environmental impact while consistently increasing the positive contribution in all our communities and empowering them to progress with the right tools, resources and advice.