Historical series Itaú Unibanco raises R$1.4 billion with the IFC and IDB Invest
The first external issue of biodiversity bonds by a Brazilian institution is intended to increase credit encouraging the adoption of sustainable practices in the agricultural sector. Part of the issuance will also be used for social purposes to support micro, small and medium-sized enterprises (MSMEs) in Brazil.
São Paulo, March 20, 2025 – Itaú Unibanco, in partnership with the IFC (International Finance Corporation) and IDB Invest, announces an issue in two series in the foreign market, at a volume of R$ 1.4 billion. One of the tranches will be 100% focused on financing biodiversity, and the other on social purposes.
Of the total raised, R$400 million will be allocated to projects aimed at preserving biodiversity, all of which will be allocated to the REVERTE®️ Program, a Syngenta initiative in which Itaú BBA is the financial partner. The program aims to promote, through technical and financial means, the conversion of degraded pasture areas into agricultural areas. Today, REVERTE®️ is the largest private initiative to support the conversion of degraded areas, making a central contribution to the growth of agricultural production without the need to expand the agricultural frontier over areas of native vegetation.
The remainder, around R$1 billion, will go towards financing micro, small and medium-sized enterprises (MSMEs), with special attention to the state of Rio Grande do Sul, which will receive around R$400 million for economic reconstruction following last year’s floods and landslides.
“We are committed to supporting our clients in the transition to a low-carbon economy, providing the capital needed to boost sustainable development and face the increasingly present climate challenges. Our efforts have focused on projects, such as REVERTE®️, that represent successful solutions for the Brazilian bioeconomy,” says Daniel Goretti, Director of Treasury at Itaú Unibanco.
The sustainable bond follows the eligible criteria of the bank’s Sustainable Finance Framework of April 2024, which is aligned with both the International Capital Market Association’s (ICMA) green and social bond principles, and the UN’s Sustainable Development Goals (SDGs).
“We are honored to partner with Itaú Unibanco and IDB Invest on this innovative issuance of sustainable bonds, which highlights the IFC’s commitment to promoting biodiversity conservation and inclusive finance in Brazil. This initiative supports the preservation of the country’s rich natural heritage and empowers micro, small and medium-sized enterprises by providing them with much-needed access to capital,” said Manuel Reyes Retana, the IFC’s Regional Director for South America. “This partnership exemplifies our dedication to creating impactful solutions that benefit both the environment and the communities we serve,” he added.
“At IDB Invest, we are committed to promoting a financial sector that focuses on sustainable and inclusive economic growth. This historic bond issue with Itaú reinforces the importance of sustainable finance in advancing biodiversity conservation in Brazil. This partnership exemplifies how financial innovation can mobilize resources to address environmental challenges while promoting long-term prosperity,” commented Diego Flaiban, Director and Head of Financial Sector Division (a.i.) at IDB Invest.
Itaú Unibanco has the ambition of achieving Net Zero by 2050, in line with the objectives of the Paris Agreement, and to this end seeks to mobilize resources to build a global economy aligned with sustainable development. In 2024, as part of its new strategy, Itaú announced the mobilization of R$ 1 trillion for Sustainable Finance by December 2030, to support clients in the development of projects that generate a positive contribution to society.