Reporting – Itaú Unibanco S.A. (2020)

Adoption Date:12 August 2004
Country of Headquarters:Brazil
Region of Headquarters:Latin America
Institutional Reporting Hyperlink:
Current EPFI Reporting Year/Period:2020
EPFI Reporting in Compliance:Yes

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.


Total number mandated in the reporting period: 17

Sub Total17
Oil & Gas

Sub Total17
Europe, Middle East & Africa
Asia Pacific


Total number that reached financial close in the reporting period: 0


Total number that reached financial close in the reporting period: 0


Since 2004, Itaú has been applying the Equator Principles management framework for all projects that have 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 evaluation for the signing, disbursement and monitoring phases. An external (independent) evaluation is mandatory for all high risk projects and for some medium risk projects, if Itaú´s environmental team considers it necessary. In projects with medium or low risk, the analysis is executed by the Environmental and Social Risk 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 creation 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 counts with 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.

Further information on Itaú Unibanco’s implementation reporting is provided in their 2020 Integrated Annual Report.