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Select an assessment year:

  • Overall approach
    9/16
    • Overarching commitment on deforestation
      8/14
      Deforestation commitment
      Reduce deforestation
      8/14
      "We recognize the crucial role that tropical forests play in countering climate change and we are convinced that the increase in deforestation in the Amazon is not conducive to the development of business and projects that are fundamental for Brazil. Given this scenario, in partnership with two other private banks (Bradesco and Santander), we launched an integrated plan with the aim of effectively contributing to the Amazon's sustainable development. Such plan includes 10 measures created from three fronts of action identified as priorities for the region: environmental conservation and development of bioeconomy; investment in sustainable infrastructure; and guaranteeing basic rights of the Amazon's region population. The plan was presented to the federal government and we are working in partnership with the other banks on detailing the next steps for each measure and in establishing the governance of the project, counting on expert advice that will assist in setting clear goals and objectives. On the same line, in July of this year we reiterated our commitment to the sustainable development agenda through a communique issued by the Brazilian business sector addressed to the Vice President of the Republic and the National Council for the Legal Amazon. In this document we have strengthened our commitment, emphasizing support for solutions focused on the following priorities: combatting illegal deforestation in the Amazon and in other Brazilian biomes; social and economic inclusion of local communities to ensure forest conservation; a minimal environmental footprint in the use of natural resources, valuing and preserving biodiversity; adoption of carbon credit trading mechanisms; channeling of financing and investments to a circular, low-carbon economy; and incentive packages conditional on a circular, low-carbon economy." "EcomudançaIta Ecomudança, of fixed income, has equity of R $ 245 million and allocates 30% of the management fee to environmental projects to reduce greenhouse gas emissions. The resources provided by Ecomudança funds supported programs on topics relevant to environmental preservation. The projects include recovery of native forests, replanting of native seedlings in degraded areas, reforms of forests in environmental reserves and reforestation and avoided deforestation. The selection of projects is carried out by a council formed by sustainability leaders from the private sector, society, academia and Itaú Asset Management."
    • Company must have anti-corruption policy
      1/2
      Anti-corruption
      Anti-corruption policy
      1/2
      "This Policy applies to Brazil and abroad, to every manager, employee and controller of Itaú UnibancoConglomerate’s and non-profit units linked to the Conglomerate in Brazil and any person with whom theConglomerate maintains commercial relations, including clients, partners, suppliers and other audiences [...] The following items are principles, guidelines and procedures guiding Itaú Unibanco Conglomerate to fight and prevent corruption: [...] Including, when applicable, anti-corruption clauses in client agreements."
  • Commodity score
    7/64
    • Beef & Leather
      14/64
      • Commitment Strength
        14/42
        • Commodity-specific financing policy
          8.9/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Sustainable/Responsible
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all stages of the supply chain
            Processors
            0.1/0.4
            Policy applies to all stages of the supply chain
            Processors
            0.1/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
        • Companies must be legally operated
          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 protect priority forests or globally important landscapes
          0/9.6
          • Commitment details
            No
            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
        • Assurance mechanism to ensure compliance
          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
        • Commitments must be timebound
          5.3/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: Compliance is prerequisite for financing
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all stages of the supply chain
            Processors
            0.1/0.4
            Policy applies to all stages of the supply chain
            Processors
            0.1/0.4
            "The client is internally assessed to determine whether its environmental and social compliance may be analyzed, including clients in the Restricted List and rural clients. List of activities: Manufacture and sale of military hardware, firearms and ammunition, extraction of wood from native forests, fishing activities, extraction and industrialization of asbestos, slaughterhouses and beef packaging plants. Restrict List: If the client's activity is included in the list, it will be subject to a specific analysis, in accordance with the existing guidelines." "Based on the existing risk and internationallyrecognized market practices, we follow specificguidelines for granting and renewing credit to thesectors below: [...] Cold storage plants and cattle slaughterhouses" "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Beef packaging plants and cattle slaughterhouses. For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
      • Social Considerations
        0/22
        • 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
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
            "In the process of socio-environmental risk analysis carried out for the granting and formalization of credit operations to legal entities, the practices exercised in the company's activity are verified, through surveys and a self-declaration questionnaire; if the client's involvement in practices considered by Itau to be prohibited is proven - use of labor analogous to slavery; use of child labor, in violation of legislation; and encouragement and / or exploitation of prostitution, including child abuse - the client is blocked in our systems, making it impossible to start any relationship with the bank."
          • 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
          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 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
    • Palm oil
      0/64
      • Commitment Strength
        0/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            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
          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 protect priority forests or globally important landscapes
          0/9.6
          • Commitment details
            No
            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
        • Assurance mechanism to ensure compliance
          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
        • Commitments must be timebound
          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
        0/22
        • 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
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
            "In the process of socio-environmental risk analysis carried out for the granting and formalization of credit operations to legal entities, the practices exercised in the company's activity are verified, through surveys and a self-declaration questionnaire; if the client's involvement in practices considered by Itau to be prohibited is proven - use of labor analogous to slavery; use of child labor, in violation of legislation; and encouragement and / or exploitation of prostitution, including child abuse - the client is blocked in our systems, making it impossible to start any relationship with the bank."
          • 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
          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 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
    • Soy
      0/64
      • Commitment Strength
        0/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            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
          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 protect priority forests or globally important landscapes
          0/9.6
          • Commitment details
            No
            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
        • Assurance mechanism to ensure compliance
          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
        • Commitments must be timebound
          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
        0/22
        • 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
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
            "In the process of socio-environmental risk analysis carried out for the granting and formalization of credit operations to legal entities, the practices exercised in the company's activity are verified, through surveys and a self-declaration questionnaire; if the client's involvement in practices considered by Itau to be prohibited is proven - use of labor analogous to slavery; use of child labor, in violation of legislation; and encouragement and / or exploitation of prostitution, including child abuse - the client is blocked in our systems, making it impossible to start any relationship with the bank."
          • 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
          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 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
    • Timber, Pulp & Paper
      14/64
      • Commitment Strength
        14/42
        • Commodity-specific financing policy
          9/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Sustainable/Responsible
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • 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
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
        • Companies must be legally operated
          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 protect priority forests or globally important landscapes
          0/9.6
          • Commitment details
            No
            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
        • Assurance mechanism to ensure compliance
          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
        • Commitments must be timebound
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: Compliance is prerequisite for financing
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
          • 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
            "Inspired by good international practices, Itaú Unibanco follows specific procedures for granting credit to Corporate Clients whose activities are included in the sectors below: [...] Extraction of wood from native forests [...] For these sectors, the Environmental and Social Risk Management conducts surveys aimed at each sector and demands the commercial department to request companies to fill out specific questionnaires and submit applicable documentation. The Internal Environmental and Social Risk Manual specifies the criteria for analysis of Clients, as well as the related Sector Guidelines."
      • Social Considerations
        0/22
        • 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
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
            "In the process of socio-environmental risk analysis carried out for the granting and formalization of credit operations to legal entities, the practices exercised in the company's activity are verified, through surveys and a self-declaration questionnaire; if the client's involvement in practices considered by Itau to be prohibited is proven - use of labor analogous to slavery; use of child labor, in violation of legislation; and encouragement and / or exploitation of prostitution, including child abuse - the client is blocked in our systems, making it impossible to start any relationship with the bank."
          • 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
          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 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
  • Reporting & Implementation
    13/20
    • Policy is reviewed and updated
      3/5
      Policy review
      Commit to update policy - Timeline unclear
      3/5
      "To formalize our commitment to sustainable development, we have a Sustainability and Environmental and Social Responsibility Policy. This policy is revised and approved by the Board of Directors on an annual basis [...] Seeking to highlight even more the relevance of the environmental and social issues, our Corporate Environmental and Social Risk Policy, approved by officers, is guided by the best environmental and social risk management practices, being continuously improved and ratifying our commitment to and concern about the topic."
    • Companies must disclose subsidiaries in commodity supply chains
      0/5
    • Monitoring and non-compliance process
      5/5
      Monitoring compliance
      Yes - Screening and monitoring process
      5/5
      "Clients involved in the activities listed above are identified based on media reports and through lists issued by official bodies. If a client has been proven to be involved in such activities, he/she is blocked in our systems and not allowed to begin any relationship with the bank. In 2018, 37 clients had their credit transactions blocked due to indications of engagement in activities of our Exclusion List. We only resume a credit relationship if the client successfully proves it has changed its labor practices and its name was excluded from the lists issued by official bodies [...] After meeting the fundamental criteria in connection with the list of excluded activities, clients are submitted to additional environmental and social assessment criteria, based on requirements specific for type of product, market segment, and guarantee structure proposed for each operation [including forestry and beef processing]. For credit-granting transactions collateralized by properties, whether rural or urban, a specific environmental and social diligence is required, aiming at identifying any environmental liabilities, such as indications of contamination, environmental preservation area, among others. This analysis is based on information on past and current activities performed on the property and on data on the surrounding areas to issue a technical report."
    • Reporting on implementation of the policy
      5/5
      Reporting
      Yes - Annually
      5/5
      Numbers: 2,311 client analyses conducted in 2018

      Type of Reporting: Numerical
      "We developed a methodologyable to distinguish credit risk associated to environmentaland social issues for clients of the same sector. The methodology is based on the drivers developed in the assessmentand other variables, such as management capacity and risksassociated to locating clients. The methodology is expectedto be applied in 2019 to a portfolio with at least 150 clients,totaling over R$22.8 billion.In 2018, we conducted 2,311 client analyses, including clients in the Restricted List." "In the process of socio-environmental risk analysis carried out for the granting and formalization of credit operations to legal entities, the practices exercised in the company's activity are verified, through surveys and a self-declaration questionnaire; if the client's involvement in practices considered by Itau to be prohibited is proven - use of labor analogous to slavery; use of child labor, in violation of legislation; and encouragement and / or exploitation of prostitution, including child abuse - the client is blocked in our systems, making it impossible to start any relationship with the bank.In 2019, 118 customers were blocked due to involvement in activities considered prohibited. In such cases, the unlocking is only carried out if it proves that it has made changes in its practices and obtains the exclusion of its name from the lists issued by official agencies."
  • Commitment strength
    7/42
    Avg. score
  • Social considerations
    0/22
    Avg. score

Profile

Itaú Unibanco are banking group based in Brazil serving both private and commercial customers. Their services include corporate finance, investment banking, wealth management, insurance, pensions and retail banking services. As of 2017, their total assets amount to more than 1.3 trillion BRL, including over 400 billion BRL in loans. Itaú Unibanco are one of the top 60 lenders to Forest 500 companies, with more than 3 billion USD of loans to companies across a broad range of forest risk sectors.

HQ
HQ 
Brazil
Financial institution type
Financial institution type 
Asset management, 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.