- UniCredit is the first bank to undertake an operation of this scale in Italy
- The agreement will allow the bank to map ‘green’ and ‘brown’ real estate for reporting purposes, environmental risk management and green bond issuance
- The collaboration further strengthens the partnership between RE Valuta and the Italian banking group
Milan, XX February 2022 – UniCredit and RE Valuta, a Tinexta Group company specialised in real estate appraisals, today announce a cooperation agreement for collecting the energy performance data of the buildings used as collateral for mortgages granted by the bank. UniCredit is the first bank to undertake an operation of this scale in Italy.
The agreement further strengthens the collaboration between UniCredit and RE Valuta, which in partnership with the real estate portal Immobiliare.it, will support UniCredit in the recovery of EPCs (Energy Performance Certificates) leveraging a database of 8 million EPCs and advanced machine learning models for their assessment as well as to estimate the average energy consumption and CO2 emissions for buildings without an existing EPC registration.
Luciano Chiarelli, Head of Portfolio Actions & Securitisation at UniCredit Italy, said: "The partnership just signed with RE Valuta – is part of the green and sustainable transition that UniCredit has been working towards for years. ESG is embedded in our corporate culture and decision making, and we continue to collaborate with various industry players to enrich and improve our ESG offering across sectors. We are working to support the green transition and our new strategic plan, 'UniCredit Unlocked', targets €150 billion of cumulative new ESG volumes through environmental loans, ESG investment products, sustainable bonds and social finance ".
Luke Brucato, Chief Marketing & Innovation Officer of RE Valuta added: "Environmental, social and governance (ESG) objectives are changing the dynamics of the real estate industry and in the mortgage sector the focus is now on the energy performance of the buildings used as collateral, as required by the EBA in the LOMs. This is also important for responding to the climate stress test, for Pillar III reporting and for green bond issuance. RE Valuta has established a partnership with Immobiliare.it for the development of advanced real estate analysis services and last year we launched our ESG Data Remediation service to retrieve ESG data on all collaterals of new mortgages and on properties already pledged as collateral for loans. Thanks to the assets made available by Immobiliare.it and to the hundreds of thousands of appraisals completed with all the qualitative data on these properties, we are able to provide a complete overview of the energy classification, kw/h consumption and C02 emissions data on over 700 thousand properties under analysis for UniCredit."
The service will cover – after careful analysis of preliminary data quality – UniCredit’s entire Italian collateral book (list of real estate collateral for mortgage and loan disbursement) and the collateral books of five of 11 Central and Eastern European countries where UniCredit operates: Czech Republic, Slovakia, Bulgaria, Romania and Hungary. This will allow UniCredit to immediately distinguish between the so called ‘green’ or energy efficient properties and those that are considered ‘brown’ or non-efficient from an energy standpoint across its mortgage collateral portfolio, helping to meet the bank’s Pillar III reporting requirements and supporting green bond issuance.
 (Guidelines on Loan Origination and Monitoring)
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