We are a service business, and, even to a lesser extent than industrial activities, our activities also explore natural resources, such as water consumption, both for internal use and electricity generation, for operations in Brazil, and generation of solid waste and electricity consumption. Additionally, we measure our financed and invested emissions to understand our indirect impact and adopt mitigating measures.

Embodied in changes to rainfall patterns, occurrence of extreme events and shortage of natural resources, climate risks bring about severe consequences for society and the economy. Therefore, we have been increasingly expanding our eco-efficiency activities, by incorporating climate variables into our business, managing risks and seeking alternatives to increase our resilience, thus ensuring the longevity of our business and contributing to society.

Our concern about climate change and impacts on society is present in all our business, each with its own specificity, and is a recurring topic in the voluntary commitments we have recently assumed.

Regarding the insurance segment, we face a number of new challenges arising from climate change, such as worsening of environment disasters, which may cause financial, infrastructure and mainly human losses. This issue motivates us to accurately quantify and precify possible impacts to seek to reduce our clients' vulnerability.

Our strategy in the credit area has been to conduct studies and understand climate change impact on the bank’s loan portfolio.

In the investment segment, our asset assessment methodology includes climate change as one of the dimensions for the analysis. We pay close attention to regulatory aspects and we also use internal carbon precification to estimate the emission costs of companies under analysis and calculate the financial impact on the market price of these companies and on their shares.

More information at our Annual Consolidated Report