Itaú Unibanco S A : Bradesco, Itaú Unibanco and Santander launch a joint plan to promote sustainable development of the Amazon

Bradesco, Itaú Unibanco and Santander launch a joint plan to promote sustainable development of the Amazon

The proposal developed by the banks includes ten measures now being detailed to be implemented in 2020.

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July 2020

The three largest Brazilian private banks, Bradesco, Itaú Unibanco and Santander, will disclose today an integrated plan, aimed at effectively contributing to sustainable development of the Amazon region. The plan includes ten measures designed based on three action points identified as priorities for the region: environmental conservation and bioeconomic development, investment in sustainable infrastructure, and guarantee of basic rights for the population of the Amazon region.

The plan was presented this Wednesday (22nd July) to the federal government and, from now on, the three banks will work together to detail the initiatives and set out the related targets. Some of the actions included in this plan are the following:

Encouraging sustainable supply chains in the region (e.g., cocoa, açai and chestnut) through differentiated financing lines and/or financial and non- financial tools

Making investments in basic infrastructure for social (e.g., energy, Internet, houses and sanitation) and environmental (e.g., river transportation) development feasible

Fostering a market of green assets and financial instruments

Attracting investments and promoting partnerships to develop technologies that foster the bioeconomy

Supporting local actors and leadership working in social and economic development projects in the region

For these measures to become effective, it is fundamental that efforts to protect the Amazon rainforest are intensified. Accordingly, the banks will work under government coordination and the actions will be implemented in line with public initiatives, thus fostering the impact of the actions on social and economic development in the region.

"This project brings Bradesco, Itaú and Santander together with the purpose of contributing to a better world. The idea is that everyone must assume part of the commitment to future generations. To this end, we have launched an objective agenda aimed at defending and valuing the Amazon region, its natural resources, forests, rivers and diversified culture. We want to take actual steps so that speech becomes reality. The Amazon is not a problem. Protecting the Amazon provides many solutions for a world full of doubts and uncertainties," said Bradesco's CEO, Octavio de Lazari Junior.

"We have now our responsibility as important agents of the financial system and share the same concerns about the social and economic development in the Amazon region and environmental conservation. We believe that Itaú Unibanco, Bradesco and Santander have complementary strengths and, working using an integrated approach, we anticipate great potential to generate a positive impact on the Amazon," said Candido Bracher, Itaú Unibanco's CEO.

"The extent of the challenge demands strong and speedy action from all actors who are able to take part in designing a sustainable development model for the Amazon, which includes population needs and preservation of our natural resources. Uniting the efforts of our industry, we will be able to deliver even more to this region, which is priceless not only to Brazil, but to the whole planet," said Sérgio Rial, CEO of Santander Brazil.

Now the banks will set up an expert committee of members with different experience and expertise in social and environmental issues related to the Amazon. This group will be in charge of helping to implement the plans, whose actions are expected to begin this year, and developing metrics and goals in line with local challenges.