For the fourth time, Banco do Brasil (BB) was elected the most sustainable bank in the world by ranking Global 100 by Canadian research firm Corporate Knights. The financial institution had won leadership in the banking segment in 2019, 2021 and 2022.
THE ranking was released during the annual meeting of the World Economic Forum, an event that brings together world leaders and businessmen in Davos, Switzerland, this week. Launched in 2005, the ranking lists the 100 most sustainable large corporations in the world. In all, nearly 7,300 companies with annual revenues of more than $1 billion a year were assessed.
In the last ten years, BB appeared in the ranking of the 100 most sustainable corporations in the world in seven. Among Brazilian companies, the bank was the best positioned company, ranking 15th overall in terms of sustainability worldwide.
According to Corporate Knights, Banco do Brasil’s sustainable business portfolio, currently with a balance in excess of R$320 billion, was the highlight for ranking in the ranking. Formed by lines of credit that finance activities with socio-environmental return, the portfolio is equivalent to 35% of the bank’s total credit volume.
In a note, the president of Banco do Brasil, Tarciana Medeiros, stated that recognition as the most sustainable bank on the planet attests to the company’s commitment to environmental, social and corporate governance. “The recognition is motivating and challenges us to advance in actions that keep the company updated, innovative and relevant. We will value even more the diversity of our staff to enrich the debate of ideas, the proposition of solutions and decision-making that generate positive economic, social and environmental impacts”, she declared.
Independent evaluation
Submitted to independent assessment, BB’s sustainable credit portfolio uses international criteria to define sustainable projects and undertakings. Among the segments financed by the portfolio are the sectors of renewable energy, energy efficiency, construction, sustainable transport and tourism, water, fisheries, forestry, sustainable agriculture, waste management, education, health and local and regional development.
In addition to credit for sustainable projects, BB stands out for its investments in solar energy. Since 2020, the bank has inaugurated seven own plants in six states and plans to open another 22 in the coming years.
Classification
THE ranking Global 100 assesses the economic, environmental and social dimensions of large companies. Based on public data published by companies, the survey considers 25 performance indicators, including financial, personnel and resource management; income obtained from products and services with social and/or environmental benefits; and supply chain performance.
Banco do Brasil is part of stock exchange indices that consider sustainable companies from an environmental and social point of view, such as the Dow Jones Sustainability Index, of the New York Stock Exchange, in the global and emerging market categories, the FTSE Good Index Series, of the London Stock Exchange, and the Corporate Sustainability Index of B3, the Brazilian stock exchange.
