Itaú Allocates R$ 8.4 Billion from First Eco Invest Brazil Auction to Sustainable Projects

Itaú Unibanco concluded the assignment of $5.2 billion from the inaugural auction of its Eco Invest Brazil program on Friday. The funds were directed toward projects covering sanitation, energy transition, bioeconomy, circular economy initiatives, and sustainable infrastructure. This transaction marked a significant milestone for the company within the federal government's 2024 initiative designed to finance environmentally positive developments. The government has conducted four auctions totaling approximately $85 billion since launching the program, with a fifth auction occurring in May. A separate portion of more than $21 billion allocated across subsequent auctions remains to be assigned. In total, over $25 billion designated for Itaú through these auctions is now active. Luciana Nicola, director of institutional relations and sustainability at Itaú Unibanco, stated that the allocation proved the program's ability to transform mobilized resources into tangible ecological transformations. She noted that the scope and sophistication of the auction had grown substantially since earlier rounds, incorporating diverse themes like degraded land recovery and sustainable equity instruments.