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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
      Is the financial risk recognised by the financial institution reputational, financial, material, etc.?: Climate/ financial 

      How is awareness shown?: Statement on deforestation/conversion showing understanding of risks to the financial institution
      "Our methodology has a directimpact on the credit rating of our customers(risk rating) and the climatic variable is partof this assessment model. In this assessmentwe identified that, within a period of 3 to 10years, climate change may impact 25 sectorsof the economy with a relevant presence in ourcredit portfolio. Among the analyzed variables,issues are identified related to greenhousegas emissions, carbon balance, risk of waterscarcity, carbon pricing, technological changes,decarbonization goals, deforestation, and/orother aspects related to sensitive sectors." - recognition that climate change is a business risk and that deforestation is a part of that. 
    • 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
      "This Policy applies to Brazil and abroad, to every manager, employee and controller of Itaú Unibanco Conglomerate’s and non-profit units linked to the Conglomerate in Brazil and any person with whom the Conglomerate 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
    8/90
    • Beef & Leather
      20/90
      • Commitment Strength
        7/31
        • Commodity-specific deforestation financing policy
          6.9/9.6
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            "The involvement of the financial sector in the Amazon can contribute to its sustainable use and maintenance of the forest standing by supporting environmental conservation and developing the bioeconomy, investing in sustainable infrastructure, and guaranteeing the basic rights of the population. [...] Zero deforestation in livestock with internal diligences and sectoral commitments";  "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 financing
            0.4/0.4
            Policy applies to all deals
            All financing
            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 financing
            0.4/0.4
            Policy applies to all companies
            All financing
            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
          0/4.6
          • Commitment details
            No commitment
            0/3
          • 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 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
        0/27
        • 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
          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
        • 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
        13/31
        • Commitments must be timebound
          Required
          5/5
          Commitments must be timebound
          Required
          5/5
           "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 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
          "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."
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          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."
        • 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
          "We developed a methodology able to distinguish credit risk associated to environmental and social issues for clients of the same sector. The methodology is based on the drivers developed in the assessment and other variables, such as management capacity and risks associated to locating clients. The methodology is expected to 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."
        • Ethical product in portfolio
          No
    • Palm oil
      0/90
      • Commitment Strength
        0/31
        • 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
          0/4.6
          • Commitment details
            No commitment
            0/3
          • 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 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
        0/27
        • 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
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
          • 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
        • 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
          No
    • Soy
      0/90
      • Commitment Strength
        0/31
        • 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
          0/4.6
          • Commitment details
            No commitment
            0/3
          • 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 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
        0/27
        • 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
          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
        • 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
          No
    • Timber, Pulp & Paper
      11/90
      • Commitment Strength
        3/31
        • Commodity-specific deforestation financing policy
          3/9.6
          • Commitment details
            Sustainability commitment
            2/8
            Commitment details
            Sustainability commitment
            2/8
            "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 deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            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 financing
            0.4/0.4
            Policy applies to all companies
            All financing
            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
          0/4.6
          • Commitment details
            No commitment
            0/3
          • 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 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
        0/27
        • 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
            Commitment details
            No
            0/4
            Type of policy: Forced Labour; Child Labour
          • 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
        • 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
          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
          "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."
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          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."
        • 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
          "Our Sustainability and Environmental and Social Responsibility Policy (PRSA)  has specific procedures for each business line, covering the most significant risks. There are specific criteria that must be met to maintain relationships with clients and suppliers. Accordingly, we understand that the use of forced or compulsory or child  labor and the exploration of prostitution are practices that are contrary to our values, and are therefore excluded from our portfolio. Throughout 2020, 50 clients were blocked due to their involvement in some of these activities." (see 2.1 for guidelines that they are referring to) 
        • Ethical product in portfolio
          No
  • Commitment strength
    2/31
    Avg. score
  • Reporting and Implementation
    5/31
    Avg. score
  • Social considerations
    0/28
    Avg. score

Profile

Itaú Unibanco are a 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 lenders to Forest 500 companies, across a broad range of forest risk sectors.

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.