Banco Bradesco

Banco Bradesco identified and prioritised its impacts through a materiality assessment process which included feedback from external stakeholders aligned with Principles for Responsible Banking (PRB). Additionally, the responsibility for sustainability issues within Banco Bradesco lies with the board of directors. The bank publicly commits to gender equality and women’s empowerment and Banco Bradesco discloses a target to have 45% to 55% women in the FIs workforce in 2021. The bank has an engagement policy where it describes its approach on sustainability themes and impact topics with clients and investees.

Banco Bradesco discloses absolute financed emissions and as a member of the Net Zero Banking Alliance, the bank has set a target of net-zero financed emissions by 2050. The bank discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are.

Banco Bradesco has a publicly available policy statement committing it to respect human rights and ILO core labour rights, as well as a statement that expects its business relationships to commit to respecting the ILO core labour rights. In addition, the bank engages with stakeholders whose human rights have been or may be affected by its activities. The bank discloses the proportion of its total direct operations workforce for each employee category by race or ethnicity, proportion of women and proportion of vulnerable groups.

In terms of its approach to senior leadership accountability, Banco Bradesco has an opportunity to link the remuneration of its executive or management teams to sustainability performance criteria. The bank also could reach at least 40% female representation in the board and in senior leadership positions. Additionally, while the bank monitors its pay gap, there is no evidence that it takes action to address it.

Banco Bradesco could disclose interim emissions reduction targets at the group level, such as a 45% reduction in financed emissions by 2030. Additionally, the bank has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. While Banco Bradesco disclose the aggregate amount of finance it devotes to climate solutions, there is no evidence that the bank discloses time-bound targets explicitly for them. Regarding nature and biodiversity, no evidence was found that the bank is committed to minimising its negative impacts or financing regenerative solutions.

Banco Bradesco could describe the process for identifying its human rights risks and impacts through its relevant financing activities. In addition, to provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.