Itau Unibanco Holding

Itau Unibanco Holding's Carbon Emissions and Climate Commitments

In 2024, Itau Unibanco Holding reported total carbon emissions of approximately 22.5 billion kg CO2e. This includes Scope 1 emissions of about 19.4 million kg CO2e, Scope 2 emissions of approximately 20.7 million kg CO2e (location-based), and significant Scope 3 emissions from investments totalling around 112.2 billion kg CO2e.

Looking back, the company's total emissions in 2023 were roughly 22.5 billion kg CO2e. In 2022, total emissions were approximately 20.7 billion kg CO2e, including Scope 1 emissions of around 22.9 million kg CO2e and Scope 2 emissions of about 19.5 million kg CO2e (location-based).

Climate Commitments:

Itau Unibanco Holding has established several key climate commitments:

• Net-Zero Target: The company aims to achieve net-zero carbon emissions across all scopes by 2050, in line with scientifically-validated scenarios.
• Near-Term Scope 1 & 2 Reductions:
  • Itau Unibanco Holding is committed to reducing its Scope 1 emissions by 50% by 2030, using 2018 as a baseline. Additionally, the company aims for a 30% reduction in Scope 1 emissions by 2030, against a 2021 baseline.
  • For Scope 2 emissions, the company targets a 50% reduction by 2030, based on 2018 levels. A further commitment includes a 30% reduction in Scope 2 emissions by 2030 from a 2021 baseline.
• Itaú Chile Specific Targets: As part of its Operational Decarbonization Strategy, Itaú Chile is committed to reducing Scope 1 and Scope 2 emissions by 42% by 2030, compared to a 2021 baseline. Itaú Chile has already achieved a 60% reduction in its Scope 1 emissions.