Banco do Brasil elected world’s most sustainable bank for fourth time
Brazil’s state-owned Banco do Brasil was elected the world’s most sustainable bank by The Global 100, a ranking by Toronto-based research company Corporate Knights. The financial institution had also stood atop the list for banking in 2019, 2021, and 2022.
The list was published during the annual meeting of the World Economic Forum, an event that brought together world leaders and businessmen in Davos, Switzerland, this week. Launched in 2005, the ranking shows the 100 most sustainable corporations around the globe. In all, about 7.3 thousand companies with annual revenues of more than $1 billion were evaluated.
Banco do Brasil appeared on the ranking of the world’s 100 most sustainable corporations in seven of the last ten years. It was the highest-ranking among Brazilian companies, ranking 15th for sustainability worldwide.
According to Corporate Knights, the Brazilian bank’s sustainable business portfolio—with a balance of over BRL 320 billion today—was the highlight of the ranking. Formed by credit lines that finance activities with social and environmental returns, the portfolio accounts for 35 percent of the institution’s total volume of credit.
In a statement, Banco do Brasil head Tarciana Medeiros said the acknowledgment attests to the company’s commitment to environmental, social, and corporate governance. “The recognition is motivating. It challenges us to move forward with efforts to keep the company updated, innovative, and relevant. We will continue to value the diversity in our staff in order to enrich the debate of ideas, the solutions proposed, and the making of decisions with positive economic, social, and environmental impacts,” she stated.
