Nubank Sustainability Profile
Nubank, officially known as Nu Pagamentos S.A., is a leading financial technology company headquartered in São Paulo, Brazil. Founded in 2013, Nubank has rapidly transformed the banking landscape in Latin America, primarily operating in Brazil, Mexico, and Colombia. The company is renowned for its innovative digital banking solutions, including credit cards, personal loans, and payment services, all designed to provide a seamless user experience. Nubank's core offerings stand out due to their transparency, low fees, and user-friendly mobile app, which empowers customers to manage their finances effortlessly. As a pioneer in the neobank sector, Nubank has achieved significant milestones, including millions of active customers and recognition as one of the most valuable fintech companies in the world. With its commitment to financial inclusion and customer-centric approach, Nubank continues to reshape the future of banking in the region.
DitchCarbon Score
How does Nubank'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 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
Nubank's score of 36 is higher than 56% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Nubank's reported carbon emissions
In 2023, Nubank reported total carbon emissions of approximately 3,000,000 kg CO2e, with significant contributions from Scope 1 and Scope 3 emissions. Specifically, Scope 1 emissions totalled about 34,800 kg CO2e, comprising mobile combustion (13,800 kg CO2e), fugitive emissions (18,800 kg CO2e), and stationary combustion (4,200 kg CO2e). Scope 3 emissions were notably higher, amounting to approximately 2,637,600 kg CO2e, driven primarily by business travel (2,637,900 kg CO2e), employee commuting (540,700 kg CO2e), and purchased goods and services (3,058,400 kg CO2e). Comparatively, in 2022, Nubank's emissions were approximately 1,466,800 kg CO2e for Scope 1 and 2, and about 4,000,000 kg CO2e for Scope 3. This indicates a substantial increase in emissions, particularly in the Scope 3 category, which reflects the company's growing operational footprint. Nubank's emissions data is cascaded from its parent company, Nu Pagamentos S.A. - Instituição De Pagamento, and is reported under the corporate family relationship with Nu Holdings Ltd. Despite the lack of specific reduction targets or climate pledges, Nubank is part of a broader industry context that increasingly prioritises sustainability and carbon footprint reduction. The company is expected to align with industry standards and practices as it continues to develop its climate commitments.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 44,700 | 0,000 | 00,000 | 00,000 |
| Scope 2 | 119,200 | 000,000 | - | - |
| Scope 3 | 4,362,800 | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Nubank's Industry?
How Carbon Intensive is Nubank's Location?
Nubank's Scope 3 Categories Breakdown
Nubank's Scope 3 emissions, which increased by 32% last year and increased by approximately 43% since 2020, 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 "Purchased Goods and Services" being the largest emissions source at 49% of Scope 3 emissions.
Top Scope 3 Categories
Nubank'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.
Nubank 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.
