Itau Unibanco Holding Sustainability Profile
Itaú Unibanco Holding S.A., commonly referred to as Itaú, is a leading financial institution headquartered in São Paulo, Brazil. Founded in 1945, Itaú has grown to become one of the largest banks in Latin America, with a strong presence in retail banking, corporate banking, and investment services. The bank operates extensively across Brazil and has significant operations in regions such as Argentina, Chile, and Paraguay. Itaú is renowned for its innovative financial products, including personal and business loans, credit cards, and investment solutions, which are tailored to meet diverse customer needs. The bank's commitment to digital transformation has positioned it as a pioneer in the fintech space, enhancing customer experience through technology. With a robust market position, Itaú has consistently been recognised for its financial strength and customer service excellence, making it a trusted choice for millions.
DitchCarbon Score
How does Itau Unibanco Holding's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Services Auxiliary to Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Itau Unibanco Holding's score of 67 is higher than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Itau Unibanco Holding's reported carbon emissions
In 2024, Itaú Unibanco Holding, headquartered in Brazil, reported significant carbon emissions, totalling approximately 17997 tonnes CO2e for Scope 1, 18422 tonnes CO2e for Scope 2 (location-based), and a substantial 76953 tonnes CO2e for Scope 3 emissions. The Scope 3 emissions include investments amounting to about 151000 tonnes CO2e. Itaú Unibanco has set ambitious reduction targets, aiming to cut its Scope 1 and Scope 2 emissions by 50% by 2030, using 2018 as the baseline year. Additionally, they are committed to achieving net-zero carbon emissions across all scopes by 2050, aligning with scientifically validated scenarios. In a more immediate context, Itaú Chile, a subsidiary, has achieved a 60% reduction in Scope 1 emissions compared to its 2021 baseline and aims for a further 42% reduction by 2030. The organization is also focused on ensuring that 100% of its energy consumption comes from renewable sources, with plans to offset all Scope 1 and Scope 2 emissions. This data is cascaded from the parent company, Itaú Unibanco Holding S.A., reflecting a comprehensive approach to climate commitments and emissions management across its operations.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 14,561,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | - | - | 0,000,000 | 0,000,000 | 000,000 | 000,000 |
| Scope 3 | 156,364,000 | 00,000,000 | 00,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
How Carbon Intensive is Itau Unibanco Holding's Industry?
How Carbon Intensive is Itau Unibanco Holding's Location?
Itau Unibanco Holding's Scope 3 Categories Breakdown
Itau Unibanco Holding's Scope 3 emissions, which increased by 1% last year and increased significantly since 2019, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 100% of Scope 3 emissions.
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Itau Unibanco Holding's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Itau Unibanco Holding has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
