Banco do Brasil named world's most sustainable bank for sixth time
Over the past decade, Banco do Brasil has been named the world's most sustainable bank for the sixth time by the Global 100 ranking, conducted by Canadian research firm Corporate Knights. In the latest list, the bank ranks 17th globally for overall sustainability. The announcement was made this week during the annual World Economic Forum in Davos, Switzerland, which gathers global leaders and business executives.
Launched in 2005, the Global 100 ranking lists the 100 most sustainable large corporations in the world. In this year's edition, around 8,300 companies with annual revenues of more than $1 billion a year were evaluated.
Corporate Knights highlighted Banco do Brasil's sustainable business portfolio, which currently exceeds BRL 370 billion, as a key factor in its ranking. This portfolio, comprising credit lines that finance activities with socio-environmental benefits, represents approximately 30 percent of the bank's total credit volume. The bank aims to expand this balance to BRL 500 billion by 2030.
In a statement, Banco do Brasil's president, Tarciana Medeiros, emphasized that sustainability is deeply embedded in the institution's strategy, driving progress across various branches of the organization. “To illustrate, we currently have BRL 1.7 billion in outstanding financing for the bioeconomy in the Legal Amazon region. This marks a 55 percent growth in just one year and enables transformative social and environmental impacts on people's lives. We are committed to building a more diverse, inclusive, and sustainable future for everyone, and this commitment has earned us recognition as the most sustainable bank in the world,” she said.
Independent evaluation
Banco do Brasil's sustainable credit portfolio is subject to independent evaluation and adheres to international criteria for defining projects and initiatives of this nature. The portfolio finances a wide range of sectors, including renewable energy, energy efficiency, sustainable construction, transportation, and tourism, as well as water management, fishing, forestry, sustainable agriculture, waste management, education, healthcare, and local and regional development.
Beyond financing sustainable ventures, the bank also stands out for investments in solar energy. Since 2020, it has established its own solar plants across nine Brazilian states and plans to launch 22 additional facilities in the coming years.
Ranking
The Global 100 ranking assesses large companies across economic, environmental, and social dimensions. Using publicly available data from the companies, the ranking evaluates 15 performance indicators, including financial and personnel management, resource utilization, revenue from products and services with social and/or environmental benefits, racial and gender diversity, and supply chain performance.
Banco do Brasil is included in stock exchange indices that recognize environmentally and socially sustainable companies, such as the Dow Jones Sustainability Index for global and emerging markets, listed on the New York Stock Exchange; the FTSE Good Index Series on the London Stock Exchange; and the Corporate Sustainability Index on B3, Brazil’s stock exchange. The bank's sustainability score in the MSCI ranking by Morgan Stanley Capital International, a key benchmark for the global market, increased from 5 to 5.3 in 2024.
