Bradesco joins global initiative to assess business impacts on climate

Bank joins Partnership for Carbon Accounting Financials, an initiative of nearly 80 financial institutions that add up to $ 13.8 trillion in assets
September 2020 - Bradesco announces its commitment to the Partnership for Carbon Accounting Financials (PCAF), becoming the first Brazilian bank to be part of the initiative. PCAF is a global partnership of financial institutions with a focus on developing a methodology to measure and disclose the carbon emissions associated with its lending and investment activities.

“Our main goal is to improve the analysis of climate risks in portfolios and expand our capacity to offer financial solutions that support the transition to a low carbon economy”, says Oswaldo Tadeu Fernandes, Bradesco director responsible for the Corporate Sustainability area.

The Bank's participation in the partnership is aligned with its climate strategy and historical advances in managing the issue. Since 2015, Bradesco integrates initiatives with the Financial Stability Board (FSB) and the United Nations (UN) to study climate impacts on business.

In 2019, the Bank was the only Brazilian entity to participate in the construction of the UN Principles for Banking Responsibility, a commitment that seeks to strengthen the banks' support to the Paris Climate Agreement. This year, Bradesco assumed the commitment to, by the end of 2020, have its operations supplied with 100% energy from renewable sources, and to neutralize 100% of its operational carbon emissions.