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 33 is higher than 53% 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 2,637,000 kg CO2e, primarily from business travel (2,637,900 kg CO2e), employee commuting (540,700 kg CO2e), and purchased goods and services (3,058,400 kg CO2e). In 2022, Nubank's emissions were lower, with total emissions of about 2,000,000 kg CO2e, where Scope 1 emissions were around 65,700 kg CO2e and Scope 3 emissions were approximately 2,000,000 kg CO2e. The company has shown a commitment to reducing its carbon footprint, although specific reduction targets or initiatives have not been disclosed. Nubank's emissions data is cascaded from its parent company, Nu Pagamentos S.A. - Instituição De Pagamento, and is part of a broader corporate family relationship with Nu Holdings Ltd. This cascading indicates that Nubank's climate commitments and performance are aligned with the sustainability goals of its parent organisation. Overall, while Nubank has made strides in tracking its emissions, further details on specific reduction initiatives or targets are currently unavailable.
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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.
