At BOCOM BBM, sustainability is part of our strategy and plays a fundamental role in our business decisions. We therefore adopt the best ESG (environmental, social and governance) practices, establishing principles, guidelines and procedures that orient all our activities.
We target sustainability under the guidance of the Sustainability Committee, which is responsible for proposing policies, monitoring their implementation, and deciding on relevant initiatives for approval by the Executive Committee.
Our approach takes into account social, environmental and climate-related factors as natural elements of risk management. The process follows guidelines set by top management and is aligned with the Bank’s risk appetite.
We also follow BoCom Group’s global principles, which reinforce the integration of environmental, social and governance factors into our own practices.
Through these initiatives, we seek to strengthen the resilience and integrity of our operations and to contribute to the achievement of the United Nations Sustainable Development Goals (SDGs).
We manage the social, environmental and climate-related aspects of our operations with the same rigor as we apply to managing financial risks.
To assure efficiency in processes, these aspects are permanently monitored by our governance framework, which comprises the Board of Directors, Risk Committee, Sustainability Committee and specialized technical areas, integrating analysis and reporting by all areas of the Bank on a daily basis.
In the credit segment, we analyze the social, environmental and climate-related aspects of our clients and their operations in accordance with the principles of relevance and proportionality before the approval of any loan in order to ensure that credit decisions are aligned with internal policies and the risk appetite defined by top management.
Our integrated risk management uses quantitative and qualitative models reviewed by the Risk Committee and approved by the Board of Directors. In this manner our analysis covers market, liquidity, credit and operational risks, contributing to the Bank’s operational solidity.
Our management structure defines clear roles and responsibilities for all instances of the governance framework. Top management is fully informed of all activities via reports, indicators, and periodical presentations, and continually checks compliance with the Risk Appetite Statement (RAS).
Our activities are guided by the following:
At BOCOM BBM, all social, environmental and climate-related matters are disciplined by the Corporate Governance Operating Procedure for Analysis of RSAC and based on the principles established in its Social, Environmental and Climate Responsibility Policy (PRSAC), in accordance with National Monetary Council (CMN) Resolution No. 4,945 (September 15, 2021) and CMN Resolution No. 5,194 (December 19, 2024).
Our activities are guided by the following:
We also publish an annual report on Management of Social, Environmental and Climate-Related Risks (GRSAC), in compliance with (Central Bank of Brazil) BCB Resolutions No. 139/2021 and 153/2021, detailing RSAC governance, processes and indicators integrated with the Bank’s risk management.
We promote ethical, inclusive and respectful relationships, focusing on:
• Protection of human rights and valorization of people;
• Promotion of diversity, gender equity and social inclusion;
• Integrity in conjunction with anti-money laundering and prevention of terrorism financing initiatives;
• Support for vulnerable groups via culture, education, sports and employability projects.
We are committed to protecting the environment and using natural resources responsibly, emphasizing:
• Prevention and mitigation of negative environmental impacts;
• Efficient use of natural resources and promotion of intergenerational sustainability.
We contribute to the transition to a low-carbon economy, assuring:
• Reduction and offsetting of greenhouse gas (GHG) emissions;
• Mitigation of the risks associated with climate change.
We monitor the environmental impact of our operations, paying special attention to the impacts of climate change, and we have implemented several initiatives to help us contribute to efforts to combat global warming and the transition to a low-carbon economy.
We periodically publish an inventory of GHG emissions so as to track our progress in these efforts and help make our actions to reduce their impact more effective.
We also evaluate physical and transition climate risks as part of our integrated risk management strategy, since we know that extreme events, regulatory changes and market transformations can affect clients and relevant sectors.
Our integrated risk management covers the social, environmental and climate dimensions, in accordance with National Monetary Council (CMN) Resolution No. 4,557/2017.
We implement due diligence and monitoring processes that enable us to assess potential risks associated with our client relationships. The key criteria for this analysis are:
• Proportionality: The duration and amount of exposure;
• Sectoral importance: The risk intrinsic to the client’s business activities;
• Behavior: liabilities identified in public and private sources, as well as risk mitigation practices and certifications.
Once the assessment is complete, the client is rated in terms of social, environmental and climate-related risks. This rating helps determine the level of monitoring to be maintained throughout the relationship, assuring a consistent preventive approach.
We have a robust decarbonization plan with targets for reducing our own emissions and those of our clients (“financed emissions”), based on the 2022 GHG inventory.
Our goal of fully reducing or offsetting direct emissions by 2024 was achieved. The focus is now on measuring financed emissions in high carbon intensity sectors by 2030 and extending this coverage to the entire portfolio by 2032.
The long-term goal is to decrease the intensity of financed emissions in line with global sustainability commitments.
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1
Carbon neutrality of internal operations
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Keeping Scope 1 emissions near zero and offsetting when needed, as well as continuous neutralization of Scope 2 emissions with renewable energy. |
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2
Extension of Scope 3 measurement
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Focusing on measurement and reporting of financed emissions via investment in enhanced data collection, methodologies and processes. |
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3
Adoption of long-term goals
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Based on our carbon footprint analysis, we will be able to set robust targets for reducing emission intensity and supporting clients in the transition to more sustainable business models. |
We believe financial institutions play a key role in addressing the climate crisis, since most of their emissions fall under Scope 3 (financed emissions). Measurement of these emissions still faces challenges such as lack of standardization and limited availability of data on the companies we lend to. Nevertheless, we remain committed to achieving progress on this agenda (see box below).
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2024
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Conclusions and ground zero
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• Reduction of direct emissions (Scope 1) to near-zero, recorded in 2022, 2023 and 2024 (any future emissions to be offset with carbon credits). • Elimination of indirect emissions (Scope 2) |
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By 2030
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Measurement of financed emissions (Scope 3) in high carbon intensity sectors
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• We will start measuring financed emissions from the sectors with the highest GHG emissions in the portfolio so as to glean more accurate information about the carbon footprint associated with financial transactions. |
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By 2032
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Measurement of financed emissions in entire portfolio
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• After measuring financed emissions from the sectors with the highest impact, we will measure those from the rest of the portfolio to obtain a comprehensive view of our institution’s contribution to indirect emissions. |
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By 2035
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Reduction of financed emission intensity
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• With all the data mapped, BOCOM BBM will set specific targets to reduce the carbon intensity of the credit portfolio (tCO2e/BRL billion), establishing more robust objectives aligned with industry best practices.
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Every year we produce a detailed inventory of our GHG emissions as part of our monitoring and managing of the greenhouse gases emitted by our activities.
We have been using the GHG Protocol methodology since 2022, measuring direct emissions (Scope 1) and estimating some sources of indirect emissions (Scopes 2 and 3), such as employee commuting, business travel, and remote working.
To assure the reliability and accuracy of reported data, our inventories are independently audited. This process reinforces the Bank’s commitment to transparency and environmental responsibility. In addition, it enables us to use reliable information in developing our sustainability strategies.
In 2025 we were awarded a Gold Seal for the publication of our 2022 and 2024 GHG inventories in the Public Emissions Registry maintained by Fundação Getúlio Vargas (FGV). In the previous year we received the same certification for our 2023 inventory, completing three consecutive years of recognition for the transparency and high quality of the inventories we produce, in accordance with the global standard for measuring GHG emissions.
Gold Seal certification reinforces BOCOM BBM’s credibility in managing and reporting its emissions, and attests to its commitment to sustainable practices aligned with the highest governance standards. We continue to work unremittingly on this project.
Since 2022 BOCOM BBM has fully offset its GHG emissions by buying carbon credits to become carbon neutral.
The credits came from the Serra Pará Wind Power Plant Complex in Rio Grande do Norte, certified by the United Nations Clean Development Mechanism (CDM). The offsets were supported by the City of Rio de Janeiro’s Neutral Service Tax (ISS) Program, which encourages companies to offset their GHG emissions.
We seek to have a positive social impact by advancing our strategic sustainability agenda via support for initiatives aligned with the UN’s Sustainable Development Goals (SDGs).
Our main aim in this respect is to strengthen and prepare people who live in the communities where we operate to realize their full potential.
To this end, our sponsorship and donation policy calls for investment in educational, cultural, sports and environmental projects, as detailed below.
Training of developers
We continued to support 42 Rio, a school with a social impact in Rio de Janeiro’s port area that trains software developers and coders free of charge, with an innovative methodology based on an exchange of knowledge between students and alumni, many of whom are now high-quality professionals. We have partnered with the initiative since its inception.
Fundação Darcy Vargas
For almost 100 years, Fundação Darcy Vargas has promoted education and culture in the Little Africa neighborhood of Rio de Janeiro’s port area, providing courses for approximately 200 primary and secondary school students aged 11 to 17. In 2025 it extended its activities with a program called Patrimoniará, offering 90 children free courses in Afro-Brazilian culture, heritage education and art. The first stage certified 30 students, and new classes are in progress.
De Boa na Gamboa
We support De Boa na Gamboa, a project run by Fundação Darcy Vargas for 250 young people in the port area of Rio, promoting racial literacy, peace culture and digital inclusion via a gamified platform, with workshops on diversity, ethical use of artificial intelligence, critical research, and game creation.
Supplementary education
In 2025 we supported an intensive supplementary education project run by CEAP, a non-governmental organization that offers technical and humanities courses free of charge for children in situations of vulnerability. The courses, delivered to over 1,000 children aged 10-14, are on robotics, computer programming and administrative technology, with individual tutoring and family counseling.
Amazônia atlântica
We supported the publication of Amazônia Atlântica (“Atlantic Amazon”), a book on the ecosystems and culture of Brazil’s northern coast, contributing to ocean literacy and the promotion of environmental conservation.
Gardens with sculpture by Raul Mourão at CEBRI
We supported the renovation of a building that now houses the Brazilian Center for International Relations (CEBRI), located in an Atlantic Rainforest reserve in Rio de Janeiro. The space will feature sculptures by Raul Mourão and cultural activities open to visitors.
Environmental education
We sponsored Luana Descobre o Jardim (“Luana Discovers the Garden”), published by the Rio de Janeiro Botanical Garden Research Institute (IP-JBRJ). The book stimulates children to acquire environmental and scientific awareness, as part of a project that includes educational activities and events with authors.
Casa Pacheco Leão
After supporting the restoration and reopening of Casa Pacheco Leão, one of the most emblematic historic buildings in Rio de Janeiro’s Jardim Botânico district, we sponsored a number of exhibitions at this cultural center. One of these, held in 2025, was entitled “The Tea Road – Botany, Culture and Tradition”, which we supported under the aegis of a federal law providing tax incentives for cultural initiatives (Lei Rouanet, Ministério da Cultura), in partnership with State Grid Brazil Holding.
Natal de Emoções
In 2025, donations to Natal de Emoções (“Christmas of Emotions”) reached approximately BRL 100,000, more than the initiative had ever raised before. Thanks to this feat, it was able to benefit 11 social institutions, which received some 15 tons of food and hygiene products. The project is run by Viver Solidário, a charity founded by a former employee of BOCOM BBM.
Destemidas
We continued to support Destemidas (“Fearless Women”), a project involving girls and young women who live in Complexo da Maré, a neighborhood of Rio de Janeiro. It uses running as a driver of female empowerment, promoting self-esteem and personal development, and campaigning to raise awareness of sexual harassment and domestic violence.
Além da Luta
Além da Luta (“Beyond Fighting”) is a project designed to enhance the physical, emotional and social development of children through weekly karate classes at Gamboa Ação. We supported it for the fourth consecutive year in 2025, reinforcing our commitment to social development in Rio’s port district.
In 2025 we continued to strengthen our institutional culture based on respect, valorization of differences and inclusion, conducting initiatives that contributed significantly to further progress in these areas.
We structured our diversity, equity and inclusion (DEI) agenda by creating a Diversity Committee, setting up two affinity groups, and implementing the first collective project: a tour of Rio’s Little Africa district.
The actions taken represented only the start of a continuous journey. From this point onward, new initiatives, policies and training courses will be developed, reaffirming our commitment to a more just, diverse and inclusive workplace where we foster ethical values and relationships that reflect the kind of society we want to live in.
Set up to orient strategies, propose policies and drive initiatives relating to our DEI agenda, this committee:
• Develops diversity and inclusion strategies, focusing particularly on gender equity;
• Monitors and measures the impact of the actions taken;
• Proposes policies and action plans to strengthen inclusion;
• Decides on matters relating to diversity, reporting to the Executive Committee.
Its members come from Sustainability, HR, Credit, Legal, and IT, plus the Executive President. It seeks to represent the Bank’s internal diversity and ensure that diversity-related decisions are based on a multidisciplinary cross-cutting vision.
In parallel with the Diversity Committee, affinity groups were established to serve as safe spaces for dialogue, learning and exchanges among staff members. The initiative strengthens the feeling of belonging, while helping to identify challenges and opportunities that emerge only out of active listening.
Having begun as a “women’s committee”, the WE has now become an affinity group that addresses issues relating to gender equity, develops female leaders, and promotes equality of opportunity.
This affinity group promotes discussion, builds racial representativity and creates safe spaces for exchanges, training and dialogue on racial equity and combating structural racism.
The affinity groups guarantee a plurality of voices and democratic participation. New members are chosen on a regular basis, and all can contribute directly to Diversity Committee meetings whenever necessary.
To mark the start of the affinity groups’ activities, our staff took part in an immersive tour of Little Africa, a historic district in downtown Rio de Janeiro that conserves an important part of Afro-Brazilian memory.
The experience brought everyone into contact with the history and ancestrality of the Black population, stimulating reflection about ethnic identity and inequality, while strengthening the role of the COR as a key actor in the DEI agenda.
