Privately-owned Banks and Climate Change
An analysis of the strategies and practices of brazilian privately-owned banks to manage climate change challenges
This study is aimed at making a diagnosis and a gap analysis of the practices of leading Brazilian privately-owned banks to reduce the climate impact of their operations and to promote a low-carbon economy. This study complements the previous one, 'Brazilian State-owned Banks and Climate Change - An analysis of the strategies and practices of braziliam state-owned bans and regional funds to manage climate change challenges', published in 2010.
The two studies provide an overview of strategies and practices adopted by the Brazilian financial sector in relation to climate issues. It is expected that these results may help to enhance the strategies of the institutions, as well as develop public policies aimed at mitigating and adapting climate change.
The object of this study are the climate change strategies and practices being implemented by the top privately-owned financial institutions in the country: Bradesco, HSBC, Itaú Unibanco, and Santander. It is worthwhile pointing out that these four institutions are classified as commercial banks, however, HSBC and Santander are banks based abroad and have different processes, in particular related to the decision-making and strategy-defining process.