Banco Inter
Your bank falls short in climate responsibility.
Banco Inter is a Brazilian digital bank that provides a range of financial services to its customers. It offers a free digital account, credit cards, investments, and other financial products through its mobile app and online platform.
The bank is silent on whether it lends to the fossil fuel sector. And it has no policy stating that it won't. It has not measured greenhouse gas emissions associated with its lending, instead it has designed an app so its customers can measure their emissions. The bank should lead by example and measure its own financed emissions! It has not set credible climate targets and offers no "green" products.
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Financial institutions in this category have shown a weak commitment to environmental sustainability and transparency.
If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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