Banco do Brasil among world’s most sustainable banks
Banco do Brasil (BB) was considered the world’s most sustainable financial institution, and ranks among the top ten Most Sustainable Corporations from 2019’s Global 100, from Corporate Knights. The announcement was made today (Jan. 22) at the World Economic Forum, in Davos, Switzerland.
Of the more than 7,500 companies assessed, the bank ranked first for a financial institution and eighth on the global ranking.
Among the chief factors for its position on the 2019 list, according to BB itself, was the earmarking of $51.19 billion for sectors in the so-called green economy, with low carbon emission, efficient use of resources, and efforts towards social inclusion.
Global 100 is an index that classifies companies according to excellence in sustainability considering economic, social, and environmental dimensions. Its methodology is based on 21 performance indicators such as corporate management practices, rationalization of natural resources, waste and emissions, supplier management, good practices towards employees, innovation capacity, and income from services and services with social and environmental benefits.
To compile the list, companies from 21 countries underwent screening based on public data (including financial figures and sustainability reports) and through direct contact with companies with shares in the stock market with a gross yearly income of over $1 billion and a specific questionnaire the selected firms are invited to fill out with their information.
Green economy
This category, Banco do Brasil reported, comprises credit operations linked to investment and loans for renewable energy, energy efficiency, sustainable construction, sustainable transport, sustainable tourism, water, fishing, forest, sustainable agriculture, and waste management. In order to promote inclusiveness in the economy, such social areas as education, health care, and local and regional development are also covered.
The methodology was designed by the Brazilian Federation of Banks (Febreban) and takes into account the classification put together by the United Nations Environment Program (UNEP), and also theme-oriented products related to green economy.
The ten most sustainable corporations on 2019’s Global ranking are:
1. Chr Hansen Holding, Denmark;
2. Kering, France;
3. Nestle Corporation, Finland;
4. Orsted, Denmark;
5. GlaxoSmithKline, UK;
6. Prologis, US;
7. Umicore, Belgium;
8. Banco do Brasil, Brazil;
9. Shinhan Financial Group, South Korea;
10. Taiwan Semiconductor, Taiwan.
