UniCredit has launched Social Impact Banking, the Bank's new program which aims to promote activities with a positive social impact, supporting individuals, micro-enterprises and social enterprises.
Social Impact Banking, which is currently available in Italy and which will subsequently be implemented in the other countries where the Group operates, focuses on activating new credit lines, sharing the Bank's financial and business know-how with the communities and on the creation of networks between organizations united by objectives with a positive social impact, such as associations for social promotion, trade associations, foundations and public institutions.
UniCredit has always been very sensitive to corporate social responsibility and has long been involved in activities such as financial intervention in favor of communities affected by disasters or emergency situations, support for financial education, the dissemination of tenders dedicated to companies social networks and collaboration with consumer associations.
Social Impact Banking will be developed through three strands of intervention, organized in a single model, with the aim of supporting the growth and well-being of communities in the medium to long term, focusing on:
- Microcredit: starting today, all UniCredit branches in Italy will offer credit, know-how and support to those micro-enterprises which are often excluded from accessing traditional banking products and services. Thanks also to the support of a network of partners, UniCredit will identify, evaluate and finance those worthy projects that help create inclusion and expand employment. Furthermore, thanks also to a network of volunteers - employees and former employees of UniCredit - the Group will offer consultancy to support these companies in their path of growth and development. Through this project, UniCredit aims to provide over 5.000 loans to small businesses over the next two years, thus becoming the leader in the microcredit market in Italy.
- Impact Financing: UniCredit will offer products and services at competitive prices for both profit and non-profit companies that operate, not only to maintain the economic sustainability of their initiative, but also to satisfy social needs, such as strengthening and promoting inclusion, by measuring the impact achieved. The program aims to support social innovation as a positive driver of change. UniCredit aims to offer loans on advantageous terms and financial training to these companies, sharing their "success stories" and promoting new partnerships and networks. Furthermore, the social impact of companies can be rewarded through the "pay for success" mechanism 1. UniCredit aims to develop the impact financing market with the aim of disbursing 100 million new loans in the next two years.
- Financial education and inclusion: as part of the “Alternanza Scuola Lavoro” initiative of the Ministry of Education, University and Research, UniCredit has launched its own program to raise financial awareness and encourage entrepreneurial spirit in schools. The project will involve over 15.000 students in 2018 and aims to reach 50.000 over the next three years. Furthermore, UniCredit will launch specific financial education programs aimed at micro-enterprises and social enterprises in Italy.
“To do well, we must also do good”, is a comment often made by Jean Pierre Mustier, CEO of UniCredit. “At UniCredit we are proud of the fact that all our actions are guided by a strong sense of ethics, based on clear values. One of them is the importance of supporting our communities. Through the Social Impact Banking initiative, we do just that, looking beyond the pure economic return, with the aim of accompanying those investments that have a positive impact on society”.
UniCredit people will play a key role in Social Impact Banking. To facilitate this process, the Group has supported the creation of UniGens, an association of voluntary employees and ex-employees, which will provide mentoring, training and multiple skills to talented individuals, micro enterprises and deserving social enterprises.
