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 significant carbon emissions, totalling approximately 2,138,900 kg CO2e from Scope 1 and Scope 3 sources. Specifically, Scope 1 emissions included 13,800 kg CO2e from mobile combustion, 18,800 kg CO2e from fugitive emissions, and 4,200 kg CO2e from stationary combustion. The majority of emissions stemmed from Scope 3, with business travel contributing about 2,637,900 kg CO2e, employee commute at 540,700 kg CO2e, and purchased goods and services at 3,058,400 kg CO2e. In 2022, Nubank's emissions were slightly lower, with a total of approximately 1,465,900 kg CO2e from Scope 1 and Scope 3. This included 500 kg CO2e from mobile combustion, 65,200 kg CO2e from fugitive emissions, and 2,100 kg CO2e from stationary combustion, alongside Scope 3 emissions of 1,465,200 kg CO2e. Nubank's emissions data is cascaded from its parent company, Nu Holdings Ltd., and the emissions reported are part of a broader commitment to sustainability. However, there are currently no specific reduction targets or climate pledges disclosed by Nubank. The company is classified as a current subsidiary of Nu Pagamentos S.A. - Instituição De Pagamento, which may influence its climate initiatives and reporting practices. Overall, Nubank's emissions reflect its operational impact, and while it has not set formal reduction targets, its commitment to addressing climate change is evident through its transparency in emissions reporting.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 44,700 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 119,200 | - | - | - |
| 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.
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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.
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