Nubank
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 33 is higher than 54% 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 2,638,000 kg CO2e, driven primarily by business travel (2,637,900 kg CO2e), employee commute (540,700 kg CO2e), and purchased goods and services (3,058,400 kg CO2e). Comparatively, in 2022, Nubank's emissions were about 2,000,000 kg CO2e, with Scope 1 emissions at approximately 65,800 kg CO2e and Scope 3 emissions around 2,635,000 kg CO2e. This indicates a substantial increase in emissions from 2022 to 2023, particularly in Scope 3 categories. Nubank has not disclosed specific reduction targets or initiatives as part of its climate commitments, and there are no documented SBTi (Science Based Targets initiative) reduction targets. The emissions data is cascaded from its parent company, Nu Holdings Ltd., reflecting the broader corporate family’s environmental impact. Overall, Nubank's emissions profile highlights the need for enhanced climate strategies, particularly in managing Scope 3 emissions, which represent the majority of its carbon footprint.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Nubank is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
