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Select an assessment year:

  • Overall approach
    3/10
    • Overarching commitment on deforestation
      0/6
    • Deforestation as a business risk
      2/2
      Yes
      2/2
      How is awareness shown?: Statement on deforestation/conversion showing understanding of risks to the financial institution

      Is the financial risk recognised by the financial institution reputational, financial, material, etc.?: environmental, social 
      "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation"
    • Target to reduce emissions in scope 1/2
    • Company must have anti-corruption policy
      1/2
      Yes, either an anti-corruption policy or a policy on prohibiting abusive tax arrangements
      1/2
      "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: [...] Strictly comply with anti-corruption and bribery regulations TAG avoids corruption in all forms, including extortion and bribery, upholding compliance standards, and organizational integrity by complying with relevant antifraud and money-laundering regulations. Service providers are responsible for ensuring all anticorruption and fraud compliance of their employees when performing operations and sourcing sub-contractors or materials on properties where TAG manages timberland and agriculture properties"
  • Commodity score
    9/90
    • Beef & Leather
      5/90
      • Commitment Strength
        3/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          2.9/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        2/27
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          2.1/5.6
          • Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        0/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          Yes
          Ethical product in portfolio
          Yes
          0/0
          [translation] "REGULATION OF THE INVESTMENT FUND IN HOLDINGS IN SUSTAINABLE COMPANIES IN THE AMAZONThe Fund is prohibited from:III – investments in companies or projects that contribute to the deforestation of new areas, unless they are configured as a sustainable forest management activity;”
    • Palm oil
      6/90
      • Commitment Strength
        3/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          2.9/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        2/27
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          2.1/5.6
          • Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        1/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "The Responsible Investment Policy is approved by the Timberland & Agriculture Group Management Committee. TAG seeks continuous improvement by periodically reviewing our policies, procedures, and operational practices. TAG is open to receiving feedback from all stakeholders, with the ultimate goal of organizational improvement through the implementation of industry best practices"
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          Yes
          Ethical product in portfolio
          Yes
          0/0
          [translation] "REGULATION OF THE INVESTMENT FUND IN HOLDINGS IN SUSTAINABLE COMPANIES IN THE AMAZONThe Fund is prohibited from:III – investments in companies or projects that contribute to the deforestation of new areas, unless they are configured as a sustainable forest management activity;”
    • Soy
      5/90
      • Commitment Strength
        3/31
        • Commodity-specific deforestation financing policy
          0/9.6
          • Commitment details
            No commitment
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          2.9/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "The Timberland & Agriculture Group (“TAG”) is part of BTG Pactual Asset Management and because of specific characteristics related to timberland and agriculture investing, TAG aims to uphold ESG objectives via an additional set of principles and policies [...] The Responsible Investment Policy applies to all timberland and agriculture investments and shall be implemented in all countries where TAG manages timberland and agriculture assets [...] The principles below provide the framework for TAG’s responsible investment strategy and guide our daily routine to maximize investor returns in a responsible manner. Within TAG, we: • Strictly comply with environmental, social, health and safety laws, regulations and standards: TAG seeks to comply with all applicable laws, regulations, and standards related to ESG issues in all locations where it manages timberland and agriculture. BTG Pactual’s structure of compliance and standard controls are used to monitor adherence to anticorruption, labor, and environmental laws. TAG also expects service providers to establish regionally appropriate health and safety standards and implement all industry best practices when providing services to TAG and its clients."
        • Companies must monitor operations
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        2/27
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          2.1/5.6
          • Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        0/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Ethical product in portfolio
          Yes
          Ethical product in portfolio
          Yes
          0/0
          [translation] "REGULATION OF THE INVESTMENT FUND IN HOLDINGS IN SUSTAINABLE COMPANIES IN THE AMAZONThe Fund is prohibited from:III – investments in companies or projects that contribute to the deforestation of new areas, unless they are configured as a sustainable forest management activity;”
    • Timber, Pulp & Paper
      20/90
      • Commitment Strength
        10/31
        • Commodity-specific deforestation financing policy
          5/9.6
          • Commitment details
            Protects priority forests
            4/8
            Commitment details
            Protects priority forests
            4/8
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."; "BTG Pactual does not invest its client's money in nor does it manage primary tropical moist forests, areas of endangered high conservation values or World Heritage Sites. Where an area of high priority conservation interest exists or may develop within its client’s ownership, BTG Pactual will seek to negotiate cooperative arrangements with appropriate responsible conservation organizations to own or manage those sites. Forests Containing High Conservation Values:BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity."
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."; "BTG Pactual does not invest its client's money in nor does it manage primary tropical moist forests, areas of endangered high conservation values or World Heritage Sites. Where an area of high priority conservation interest exists or may develop within its client’s ownership, BTG Pactual will seek to negotiate cooperative arrangements with appropriate responsible conservation organizations to own or manage those sites. Forests Containing High Conservation Values:BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."; "BTG Pactual does not invest its client's money in nor does it manage primary tropical moist forests, areas of endangered high conservation values or World Heritage Sites. Where an area of high priority conservation interest exists or may develop within its client’s ownership, BTG Pactual will seek to negotiate cooperative arrangements with appropriate responsible conservation organizations to own or manage those sites. Forests Containing High Conservation Values:BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."; "BTG Pactual does not invest its client's money in nor does it manage primary tropical moist forests, areas of endangered high conservation values or World Heritage Sites. Where an area of high priority conservation interest exists or may develop within its client’s ownership, BTG Pactual will seek to negotiate cooperative arrangements with appropriate responsible conservation organizations to own or manage those sites. Forests Containing High Conservation Values:BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity."
        • Companies must be legally operated
          2.5/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "BTG Pactual manages its clients’ timberland assets in compliance with all applicable State, National, and binding International environmental agreements within the countries where we operate. Illegal Logging BTG Pactual client lands are acquired through a due diligence process that ensures a clear legal title to the properties. All timber harvest operations on these lands will be conducted in accordance with tract specific management plans and in compliance with will all applicable laws and regulations."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "BTG Pactual manages its clients’ timberland assets in compliance with all applicable State, National, and binding International environmental agreements within the countries where we operate. Illegal Logging BTG Pactual client lands are acquired through a due diligence process that ensures a clear legal title to the properties. All timber harvest operations on these lands will be conducted in accordance with tract specific management plans and in compliance with will all applicable laws and regulations."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "BTG Pactual manages its clients’ timberland assets in compliance with all applicable State, National, and binding International environmental agreements within the countries where we operate. Illegal Logging BTG Pactual client lands are acquired through a due diligence process that ensures a clear legal title to the properties. All timber harvest operations on these lands will be conducted in accordance with tract specific management plans and in compliance with will all applicable laws and regulations."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "BTG Pactual manages its clients’ timberland assets in compliance with all applicable State, National, and binding International environmental agreements within the countries where we operate. Illegal Logging BTG Pactual client lands are acquired through a due diligence process that ensures a clear legal title to the properties. All timber harvest operations on these lands will be conducted in accordance with tract specific management plans and in compliance with will all applicable laws and regulations."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "BTG Pactual manages its clients’ timberland assets in compliance with all applicable State, National, and binding International environmental agreements within the countries where we operate. Illegal Logging BTG Pactual client lands are acquired through a due diligence process that ensures a clear legal title to the properties. All timber harvest operations on these lands will be conducted in accordance with tract specific management plans and in compliance with will all applicable laws and regulations."
        • Companies must monitor operations
          3/5.6
          • Commitment details
            Encouraged
            2/4
            Commitment details
            Encouraged
            2/4
            Type of policy: Assurance mechanism

            Certification scheme (if applicable): FSC
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity [...] Portions of the US timberlands of BTG Pactual clients are currently managed under third-party certified Forest Stewardship Council, Sustainable Forestry Initiative or American Tree Farm Group Certification Program. A portion of our international timberlands are currently certified under the Forest Stewardship Council. Non-certified properties in the US and internationally are being managed to these same high standards as we work to transition them to management under the appropriate third party certification program."
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        2/27
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          2.1/5.6
          • Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            Commitment details
            Companies must address gender related worker and labour rights only for own operations - Encouraged
            0.5/4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our executives share business risks and opportunities within appropriate scopes of responsibility. All lending transactions undergo social and environmental due diligence based on the principles of relevance and proportionality. The factors considered in due diligence include compliance with social and environmental regulations; climate impacts; the likelihood of extreme weather events (such as floods, droughts or forest fires); compliance with occupational health and safety standards; potential use of child or forced labor; judicial or administrative proceedings related to illegal deforestation; project constraints due to protected areas (e.g. legal reserves, indigenous lands and quilombolas); procedures to assess human rights risks and impacts; gender risk assessments (nondiscrimination policies, action taken to mitigate the risk of sexual exploitation of minors and gender violence); and clients’ social and environmental management capabilities." 
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        8/31
        • Commitments must be timebound
          Required
          5/5
          Commitments must be timebound
          Required
          5/5
          "BTG Pactual does not invest its client's money in nor does it manage primary tropical moist forests, areas of endangered high conservation values or World Heritage Sites. Where an area of high priority conservation interest exists or may develop within its client’s ownership, BTG Pactual will seek to negotiate cooperative arrangements with appropriate responsible conservation organizations to own or manage those sites. Forests Containing High Conservation Values: BTG Pactual does not typically invest their clients’ assets in property where known high conservation values exist. Our objective is to invest in and manage sustainable renewable commercial forests under the appropriate forest certification programs and allow areas of high conservation value to be managed by the appropriate public or non-profit conservation entity."
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "The Responsible Investment Policy is approved by the Timberland & Agriculture Group Management Committee. TAG seeks continuous improvement by periodically reviewing our policies, procedures, and operational practices. TAG is open to receiving feedback from all stakeholders, with the ultimate goal of organizational improvement through the implementation of industry best practices"
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          No
          0/5
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          [Translation] "In 2019, 92% of forests under the management of BTG Pactual funds had forest management certification from recognized international programs such as FsC (Forest Stewardship Council) and SFI (Sustainable Forest Initiative). For this investment strategy, we publish an annual report with our own ESG indicators."
        • Ethical product in portfolio
          Yes
          Ethical product in portfolio
          Yes
          0/0
          [translation] "REGULATION OF THE INVESTMENT FUND IN HOLDINGS IN SUSTAINABLE COMPANIES IN THE AMAZONThe Fund is prohibited from:III – investments in companies or projects that contribute to the deforestation of new areas, unless they are configured as a sustainable forest management activity;”
  • Commitment strength
    5/31
    Avg. score
  • Reporting and Implementation
    2/31
    Avg. score
  • Social considerations
    2/28
    Avg. score

Profile

BTG Pactual are an investment bank and asset manager headquartered in Brazil. Their services include investment banking, corporate finance, asset and wealth management, and trading services. As of 2017, BTG Pactual's total assets under management amount to more than 125 billion BRL. BTG Pactual are a top financier in Brazil, an important forest jurisdiction in terms of tropical forest cover and agricultural commodity production and trading.

HQ
HQ 
Brazil
Financial institution type
Financial institution type 
Bank

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.