UniCredit said on Tuesday it had set 2030 emissions targets for the three most carbon intensive sectors the bank lends money to, with the aim of reaching net zero on its financed emissions by 2050. The Italian bank also confirmed it wanted to reach net zero on its own emissions by 2030. In particular, UniCredit said for the oil and gas sector it will target a reduction of 29% of its indirect (Scope 3) financed emissions starting from a baseline of 21.4 millions of tonnes of carbon dioxide equivalent in 2021.
(Bloomberg) -- Europe’s largest banks kicked off earnings season with pledges to return more than $12 billion to shareholders, following an interest rate bonanza that’s bolstering lenders from Milan to Stockholm.Most Read from BloombergSony Slashes PlayStation VR2 Headset Output After Pre-Orders DisappointTrump Sues Journalist Bob Woodward for Releasing Interview RecordingsWall Street Is Losing Out to Amateur Buyers in the Housing SlumpBrexit Is Costing the UK £100 Billion a Year in Lost OutputI
UniCredit on Tuesday galvanised investors by pledging to return 5.25 billion euros ($5.69 billion) from its 2022 earnings after posting a record quarterly profit, as CEO Andrea Orcel works to deliver on his ambitious payout plans. Orcel, who has focused UniCredit on capital light businesses to maximise returns since taking over in early 2021, said he was confident of receiving approval from European Central Bank supervisors before the bank's general meeting in April. His upbeat tone contrasted the cautious note struck by rival UBS, Orcel's former employer, which also reported on Tuesday, promising to pay out more than $6.7 billion.