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ESG highlights

Click here for sustainability news

 

Check out the US$ 500 million first Sustainability Bond Annual Allocation and Impact Report

 
 

Itaú Unibanco's Investor Relations Agenda makes headway and receives awards

 
 

Itaú Unibanco is part of the IGPTW!

 
 

Itaú Unibanco signs up to the Net-Zero Commitment by 2050

 

ESG Annual Report

Access our core sustainability indicators and initiatives reporting

ESG library

Explore our studies, papers and documents related to sustainability management

ESG indices and ratings

Our performance in sustainability indices and ratings

We are part of portfolios of market indices for companies with a recognized ESG practice

Dow Jones (Since 1999)
ISEB3 (Since 2005)
Bloomberg (Since 2017)
MSCI ESG (Since 2013)

ESG ratings

Sustainalytics Updated: 02/28/2022
FTSE4Good Updated: 12/20/2020
MSCI ESG Ratings Updated: 11/25/2021
ISS ESG Updated: 01/21/2021

sustainability website

Learn more about how we generate positive business impact through our activities on our website dedicated exclusively to sustainability

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frequently asked questions

Yes. Our target is to reduce our emissions by 50% by 2030 and become a “NetZero” bank by 2050. In 2021 we joined the “Net Zero Bank Commitment”, a specific commitment for the banking sector, convened by the United Nations (UNEP FI), for signatories to present credit portfolios with zero net emissions by 2050.

The goal to become “NetZero” by 2050 was based on the best available science, according to the IPCC report, which indicates that to keep the global temperature rise to 1.5°C by the end of the century, it is necessary to reach “NetZero”, that is, a point where CO2 emissions equal removals, by 2050.

We have established a decarbonization strategy that permeates all of our positive impact commitments to ensure single governance of ESG issues within the Bank. We support key global guidelines and commitments for climate change management: Paris Agreement, Task Force on Climate-related Financial Disclosures (TCFD), Paris Agreement Capital Transition Assessment (PCTA), Partnership for Carbon Accounting Financials (PCAF), GHG Protocol, United Nations Environment Program (UNEP-FI) and FEBRABAN’s Climate Risk and Green Economy Working Group.

Our plan includes GHG reduction and removal activities, taking into account the current stage of technology in each sector, evolution projections and the necessary engagement of our clients to establish their goals. Currently, we have already offset 100% of our emissions in Scopes 1 and 2, through offsetting and the purchase of Renewable Energy Certificates (RECs). Since 2018, we have been working on the transition to a low-carbon economy, including the definition of policies, action plans, and performance measurement in the face of the challenges of combating climate change. For Scope 3, to improve our estimates of financed emissions and align them with best practices, we have joined forces with PCAF to develop a standardized methodology for measuring financed emissions.

Learn more about this topic on Itaú Net Zero 2050 commitment paper and access our most recent data on Scope 1, 2, 3 and financed emissions in our ESG 2021 Report.

Yes. Environmental, social and governance topics affect the variable compensation of professionals involved in activities, businesses and commitments related to the ESG initiatives, through performance indicators, projects and initiatives present in the individual targets contract, at various hierarchical levels. We highlight some links between the variable compensation of our managers and important topics on our ESG strategy:

Climate Change: targets related to the implementation of the climate strategy through new products and services, development of studies and recommendations for the decarbonization of the portfolio, recommendation of a business model for carbon trading, as well as targets related to the implementation of the TCFD recommendations, and the Amazon Plan actions.

Diversity: goals related to the increase and promotion of diversity in the workforce (considering inclusion of race, gender, people with disabilities, LGBT+, and generations), especially in the hiring flow, also acting on cultural and behavioral aspects, such as unconscious biases.

Transparency in communication: targets related to the financial reporting and ESG reporting agenda, including quality of financial statements, advancement of SASB indicators and TCFD guidelines, and implementation of ESG education and training for employees and society in general.

Learn more about ESG topics related to compensation on our ESG 2021 Report.

Sustainability governance is a fundamental pillar in the sustainability strategy, responsible for the solidity of our positive impact commitments. Each positive impact commitment has its own governance established to integrate the theme into the conglomerate’s business initiatives. The ESG Superior Committee, comprising members of the Executive Committee and sponsors of the positive impact commitments, meets bimonthly to deliberate on ESG issues connected to the business units and operations. The topic of sustainability is an important part of the Board of Directors’ deliberations and, at least once a year, the topic is dealt with exclusively at Board meetings. We also have committees that meet quarterly to discuss the main topics on the ESG agenda, such as the Amazon Strategic Committee, ESG Wholesale Committee, Responsible Investment Committee and Financial Citizenship Committee.

Learn more about sustainability Governance on our ESG 2021 Report.

In line with our commitments related to the promotion of positive impacts on society and responsible investment, in 2020 we approved a strategy that will result in the gradual reduction, by 2025, of Itaú’s credit exposure to clients whose activities are related to tobacco, such as agricultural producers that exclusively grow this crop, and cigarette manufacturers.

In additional, in 2020, we faced the global repercussions of growing conflicts related to deforestation in Brazil, mainly related to meat production and livestock in deforested areas. We do not exclude the sector, but in view of the gravity of the problem, we recognized the need to promote actions to discourage these practices in the sector and took action to improve the environmental and social due diligence applied to the cold storage plant industry.

We also have specific criteria that must be met for maintaining relationships with customers and suppliers. Thus, we understand that the use of slave or child labor and the exploitation of prostitution are practices that contradict our values and, therefore, are excluded.