Nubank, officially known as Nu Pagamentos S.A., is a pioneering financial technology company headquartered in São Paulo, Brazil. Founded in 2013, Nubank has rapidly transformed the landscape of financial intermediation services, focusing on providing accessible and user-friendly banking solutions. The company primarily operates in Brazil, with significant expansions into Mexico and Colombia.
Nubank's core offerings include digital banking services, credit cards, and personal loans, all characterised by their no-fee structure and innovative technology. This unique approach has positioned Nubank as a leader in the fintech sector, boasting millions of customers and notable achievements, such as being one of the largest digital banks in the world. With a commitment to transparency and customer-centric solutions, Nubank continues to redefine the banking experience in Latin America.
-7 vs industry average
Nubank’s score of 30 is lower than 45% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
Nubank's reported carbon emissions
Nubank, headquartered in BR and operating within financial intermediation services, reported a total of approximately 9.8 billion kg CO2e in emissions for the 2023 reporting year. This figure encompasses Scope 1 and Scope 3 emissions, with Scope 2 data not being reported for this period.
Breaking down the reported emissions for 2023:
- Scope 1: Approximately 36.6 million kg CO2e, consisting of about 13.8 million kg CO2e from mobile combustion, 18.8 million kg CO2e from fugitive emissions, and 4.2 million kg CO2e from stationary combustion.
- Scope 3: Approximately 6.6 billion kg CO2e, with purchased goods and services accounting for about 3.1 billion kg CO2e, business travel for approximately 2.6 billion kg CO2e, and employee commute for about 540.7 million kg CO2e.
For the 2022 reporting year, Nubank reported total emissions of approximately 6.9 billion kg CO2e. This includes:
- Scope 1: Approximately 73.7 million kg CO2e, with fugitive emissions contributing about 65.2 million kg CO2e.
- Scope 3: Approximately 5.3 billion kg CO2e, driven by purchased goods and services at about 2.7 billion kg CO2e and business travel at approximately 1.5 billion kg CO2e.
In 2021, total emissions were approximately 2.2 billion kg CO2e, with Scope 1 emissions at around 12.4 million kg CO2e and Scope 3 emissions at approximately 2.0 billion kg CO2e. Scope 3 emissions were notably influenced by employee commute at about 1.3 billion kg CO2e.
Nubank's emissions data for 2020 was 4.6 million kg CO2e. This included Scope 1 emissions of 44.7 million kg CO2e and Scope 2 emissions of 119.2 million kg CO2e. Scope 3 emissions for 2020 were approximately 4.4 billion kg CO2e, with purchased goods and services contributing about 1.9 billion kg CO2e.
It is important to note that Nubank's emissions data is cascaded from Nu Pagamentos S.A. - Instituição De Pagamento at cascade level 1 as a current subsidiary. CDP reporting data is sourced from Nu Holdings Ltd. at cascade level 1.
Nubank does not currently have disclosed specific reduction targets or commitments through initiatives like SBTi or the Climate Pledge based on the provided information.
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Nubank’s Climate Goals (2030 & 2050)
No climate goals have been disclosed for Nubank yet.
Scope 3 top emissions categories
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