For the sixth time, Banco do Brasil (BB) was elected the most sustainable bank in the world by ranking Global 100, by Canadian research company Corporate Knights. THE ranking was released during the annual meeting of the World Economic Forum, an event that brings together world leaders and businesspeople in Davos, Switzerland, throughout this week.
Launched in 2005, the ranking Global 100 lists the 100 most sustainable large corporations in the world. In this year’s edition, around 8,300 companies with annual revenue of more than US$1 billion per year were evaluated.
In the last ten years, BB has appeared in the ranking of the 100 most sustainable corporations in the world in six. In the global list, the bank ranks 17th overall for sustainability worldwide.
According to Corporate Knights, Banco do Brasil’s sustainable business portfolio, currently with a balance of over R$370 billion, was the highlight for the classification in the ranking. Made up of credit lines that finance activities with socio-environmental return, the portfolio is equivalent to around 30% of the bank’s total credit volume. BB intends to increase the balance to R$500 billion by 2030.
In a note, the president of Banco do Brasil, Tarciana Medeiros, stated that sustainability is incorporated into the institution’s strategy, with ramifications in other branches of the institution. “Just to give you an idea, we have already recorded R$1.7 billion in financing balances aimed at the bioeconomy in the Legal Amazon region. This represents growth of 55% in one year and allows us to change people’s lives in social and environmental aspects. We work for a more diverse, inclusive and green future for everyone, and this path leads us to be recognized as the most sustainable bank on the planet”, he declared.
Independent assessment
Subjected to independent assessment, BB’s sustainable credit portfolio uses international criteria to define projects and undertakings of this nature. Among the segments financed by the portfolio are the sectors of renewable energy, energy efficiency, construction, sustainable transport and tourism, water, fishing, forestry, sustainable agriculture, waste management, education, health and local and regional development.
In addition to credit for sustainable ventures, BB stands out for investments in solar energy. Since 2020, the bank opened its own plants in nine states and intends to open 22 more in the coming years.
Classification
THE ranking Global 100 evaluates the economic, environmental and social dimensions of large companies. Based on public data published by companies, the research considers 15 performance indicators, including financial, personnel and resource management; revenue obtained from products and services with social and/or environmental benefits; racial and gender diversity and supply chain performance.
Banco do Brasil is part of stock exchange indices that consider companies to be sustainable from an environmental and social point of view, such as the Dow Jones Sustainability Index, from the New York Stock Exchange, in the global and emerging markets categories, the FTSE Good Index Series, of the London Stock Exchange, and the Corporate Sustainability Index of B3, the Brazilian stock exchange. The bank’s sustainability rating in ranking MSCI, from Morgan Stanley Capital International, the global market benchmark, rose from 5 to 5.3 in 2024.
