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Itaú Unibanco S.A. (2023)
| Signing Date | 12 Aug 2004 |
| Region of Headquarters: | Latin America |
| Current EPFI Reporting Year/Period: | 2023 |
| Institutional Reporting: | Link to Report |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP website.
Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 16
| Sector | |
|---|---|
| Mining | |
| Infrastructure | 8 |
| Oil & Gas | |
| Power | 8 |
| Others | |
| Sub-Total | 16 |
| Region | |
|---|---|
| Americas | 16 |
| Europe, Middle East & Africa | |
| Asia Pacific | |
| Sub-Total | 16 |
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 1
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 1 | ||
| Oil & Gas | |||
| Power | |||
| Others | |||
| Region | |||
| Americas | 1 | ||
| Europe, Middle East & Africa | |||
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | |||
| Non Designated Country | 1 | ||
| Both | |||
| Independent Review | |||
| Yes | 1 | ||
| No | |||
| Totals | 1 | ||
1
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
2
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
3
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
4
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project Finance
This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)
| No. | Project Name | Sector | Project Location(s) | Year of Financial Close |
|---|---|---|---|---|
| 1 | CONCESIONARIA RUTA AL SUR S.A.S | Infrastructure | Colombia | 2023 |
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Implementation of the Equator Principles
Since 2004, Itaú has been applying the Equator Principles management framework for all projects that meet the framework criteria. This applies for projects originated in Brazil or other Itau’s international units.
Projects subjected to the application of the Equator Principles may require an independent consultancy to execute the environmental and social evaluations for the signing, disbursement and monitoring phases. An external (independent) evaluation is mandatory for all high risk projects and for some medium risk projects as well, if Itaú´s environmental team considers it necessary. In projects with medium or low risk, the analysis is executed by the Environmental and Social Risks specialized internal team.
The analysis according to the criteria of the Equator Principles occurs throughout the tenor of the financing and is guided by international market best practices and focus our efforts on engaging all stakeholders in a robust, transparent due diligence, ensuring notable technical expertise and higher effectiveness of risk management. The due diligence is undertaken before financial closing and conditions precedents are established to every single disbursement. The assessment process incorporates material and sensitive issues such as impact on traditional populations, climate change, and human rights, in accordance with the IFC Performance Standards, as well as assessing compliance with local legislation and the adoption of an environmental and social management system. Further, E&S Risk analysis comprehends the proposal of an Action Plan and negotiated with the client to ensure that the project comply with these standards. The monitoring phase of both Category A and B projects is always supported by an Action Plan. Some Category C also relies on an Action Plan to address eventual gaps related to local environmental and social regulations identified during the initial due diligence. Everything is documented in the loan agreement. The Action Plan can be amended from time to time in order to fully reflect the current status of the project. Such revision occurs under the monitoring phase which happens at least annually until the tenor of the deal.
For further information regarding Itaú’s environmental, social and climate risks management practices, please revert to Itaú Unibanco Holding ESG Report 2023, available at https://www.itau.com.br/download-file/v2/d/42787847-4cf6-4461-94a5-40ed237dca33/d5b8c4b5-cd94-c02f-a14d-36e3ef3958d5?origin=2.