Itaú Unibanco, a member of CEBDS, is on the list of companies that endorse the “Principles for Responsible Banking”, which UNEP-FI (United Nations Environment Programme Finance Initiative) presented a few days ago. The action aims to highlight the work of companies committed to aligning their businesses with climate and sustainability goals.
By endorsing the commitment, which is aligned with the Sustainable Development Goals (SDGs) and the Paris Climate Agreement, Itaú and the other participants are committed to publicly reporting on their impacts, their contribution to society's goals and their progress in implementing the Principles.
The Principles were developed by 28 banks from five continents, collectively representing more than US$17 trillion in assets. “As a major financial institution in Brazil and the region, we are aware of our role in driving growth and socioeconomic development in the communities in which we operate. Through financial products and services, we have supported our clients in seeking sustainable solutions that benefit them and society as a whole. We will reinforce our goal of recognizing and enhancing the positive impact of our activities by announcing our commitments later this year,” said Candido Bracher, CEO of Itaú Unibanco.
Revised positioning
Recently, Itaú Unibanco revisited its approach to addressing issues related to climate change and launched a position statement, linked to the guidelines of the “Task Force on Climate-related Financial Disclosures” (TCFD), to guide the institution’s actions. The initiative incorporates a series of variables into the bank’s business strategy, with the aim of stimulating the transition to a low-carbon economy. In doing so, it seeks to influence its value chain, encompassing customers and suppliers. It also includes expanding the use of energy from renewable sources in its centers and administrative units.
