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ITAÚ UNIBANCO

www.itau.com.br

of innovative solutions for ESG and net zero
challenges. The hub consists of 34 startups that
are helping transform the climate landscape
in Brazil and have engaged more than 100
companies and 1,000 ESG professionals on
climate discussions. We are partnering with the
academy to understand what must be done to
achieve global climate ambitions.

Advocacy with regulators and the
government: not all of the solutions will
come from the private sector and public
policies will support the transition. We are
engaged in advocacy initiatives to support the
development of a regulated carbon market in
Brazil that will promote decarbonization in key
sectors with positive outcomes for the whole
economy and society.

Our challenges and pathway ahead
Despite all the progress, some challenges are
still on the climate agenda. These challenges
are related to the regulatory environment,
stakeholder engagement, distinct levels of client
maturity, standardization of methodologies
and calculators, lack of structured and
available data, risk management and adequate
transparency of climate information.

Brazil is already advancing on developing the
regulatory agenda to scale up the climate
transition agenda with the implementation of a
regulated carbon market and the development
of an Ecologic Transition Plan.
Itaú Unibanco
As a financial institution, engaging different We are the largest Brazilian private bank by market value, and the most
stakeholders on the agenda is still a challenge valuable brand in Latin America, valued at US$8.7 billion, according to Brand
and we understand this is a cross-cutting Finance’s 2023 Global 500 Ranking. With a vast array of sector-specific
challenge for the private sector to ensure that products in Brazil, as well as through our brands and business partnerships, we
the interests of different players are combined, offer a wide range of services across several channels, making us a full-service,
without affecting the climate ambition. universal bank.

Innovation will play a leading role in climate
transition and disruptive technologies need to
be scaled up. Organizations committed to the
climate agenda have the challenge to name key
priorities and the mechanisms to ensure they
are adequately scaled up, balancing risks and
opportunities.

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