2018 Sustainability Report Itaú Unibanco Holding S.A
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2018 Sustainability Report Itaú Unibanco Holding S.A. A bank in Sustainability Value Risk Transformation Management Creation Management 3 and Governance 11 18 Index 5 Integrity Customer Digital Employee’s and Ethics Satisfaction Transformation Experience 37 53 58 62 Diversity Financial Inclusion Corporate Environmental Attachments 77 and Orientation Citizenship Management 122 86 100 111 This is an era of transformation that requires each one of new digital payment methods with Apple Pay and Samsung us to be always prepared for more instantaneous, frequent Pay and, also, the facility offered by the Abre Contas (Open and significant changes. These novelties impact and defi- Accounts) application. Additionally, we reinforced our work A bank in nitely change the habits of many people. For this reason, on urban mobility with the inauguration of the new bicycle in a form of constructive indignation, we decided not to be system. In the social field, we had the visit of Malala Yousafzai complacent but to transform ourselves. to Brazil for an important event for education. For our employees, we implemented the pilot home office practice Accordingly, 2018 was a great year for us, not only for in many departments, we established a new dress code by Transformation our achievements and results in the financial market means of the Vou Como Sou (I go as I am) campaign and orga- but also for the innovations and changes we made. We nized many internal engagement events such as the Semana developed many initiatives, in line with the six strategic da Diversidade LGBT+ (LGBT+ Diversity Week) and Semana da fronts defined by senior management last year, which are Diversidade Racial (Racial Diversity Week). divided into two groups: In 2018, we also expressed our desire to change the league • Transformation, with the Customer Satisfaction, Digital and presented to the entire institution the seven principles of Transformation and People Management fronts; and centrality in the client. Our commitment is to increasingly pri- oritize this relationship with clients, getting to know them and • Continuous Improvement, with the Risk Management, understanding their problems and needs, enchanting, inno- Sustainable Profitability and Internationalization fronts. vating, communicating in a transparent way and, of course, recognizing the people that make all this happen. Some examples of the way we progressed towards inter- nal transformation and in our roles in society were the Accordingly, we keep on going as a bank in transformation. launch of Credicard Pop, the repositioning of Credicard, the conception of Teclado Itaú (Itaú Keyboard), the offer of Enjoy your reading! Context of the report Structure of the report Because we are a bank in transformation, we are constantly Another way to satisfy our clients is by having more satisfied In 2018, we restructured our Materiality Matrix. As a result of adapting ourselves in view of the new competitive and reg- employees. Accordingly, we have improved the Employee’s this review, we reduced to ten our material topics and present ulatory challenges, of the new available technologies, of the Experience. We are concerned with a work environment that them in connection with the Sustainable Development Goals employees’ expectations and of the habits of our clients. respects the individuality of our employees, where everyone (SDGs) highlighting those that we consider potentially associ- is able to work as they are and in which we encourage values ated with our main activities. In this process of Creation of Value, we add shared value such as flexibility and Diversity. in the long term for our employees, clients, stockholders, We present as follows our sustainability management and suppliers and society, thus ensuring the longevity of our We also recognize that our role as change agents and promot- strategy, our materiality, and a chapter for each topic that we business. Therefore, in addition to creating financial value ers of local development is very important. As such, we work to define as material. by means of the production and distribution of wealth encourage projects, institutions and individuals in an innova- among employees, government and stockholders, we also tive manner towards the construction of a better world. We begin the chapters by explaining why we believe that highlight the creation of value for the other stakeholders each of the topics is material. Next, we present a table with and, consequently, for society. With respect to the value generated for society, we high- the relationship between the material topic and the GRI light our Financial Orientation and Inclusion actions, which, Standards, GRI-G4 sector disclosures, potential SDGs and In order to create value with responsibility, we need to base by means of the expansion of the access to our services, their targets, and stakeholders, in addition to including a our activities on strong Risk Management processes that affect the healthy economic development of society and our summary of the main matters addressed in each chapter. permeate the entire organization and that are the basis for employees, and our activities aimed at Corporate Citizenship, the strategic decisions that ensure the sustainability of the which expand our social actions aimed at cultural and educa- businesses. We understand that organizations that intend tional development, among others. Also, in the search for lo- to be perennial cannot profit at any price and, therefore, that cal development by means of the mitigation of the negative success depends on their ability to lead with Integrity and impacts of our operations, we present our initiatives aimed Ethics, which are essential values for us and our society. at Environmental Management, which are aimed at reducing the consumption of natural resources and the generation of In view of this, we decided, this year, to focus even more on waste and greenhouse gases (GHG). our clients and join the league of the world’s best companies in Customer Satisfaction, providing them with better experi- In our business, we always place ethics ahead of results. We ences and making them more fulfilled. As an essential tool to grow by helping people and Brazil prosper, encouraging the achieve customer satisfaction, we use and increasingly invest progress of those around us. We work to make dreams come in technology, following our Digital Transformation. true, to drive development and to awaken the will to do more and better. Index 2018 Sustainability Report Itaú Unibanco 4 Sustainability Our vision is to be the leading bank in sustainable per- Management formance and customer satisfaction This challenge can only be met through collaborative work, which involves our key stakeholders: employee, clients, stockholders, suppliers, and society. We determine who are our key stakeholders based on indirect inquiries conducted in our and Governance communication channels. GRI 102-40 | GRI 102-42 | GRI 102-43 We incorporate sustainability into our corporate strategy through a governance structure that is consolidated and integrated with Governmental and Institutional Relations, Corporate Strategic Committee of our business. This allows us to internalize social, environmental and economic issues and trends as part of our daily activities and Communication, Investor Relations, Marketing, Credit processes to identify the areas which are capable of addressing and periodically tracking performance and indicators for these Risk, and Modeling and Sustainability. In 2018, this Foundations and Institutes issues, ensuring their development. committee held six meetings and the main issues Consisting of the Chairperson, Vice Chairpersons, Directors, addressed were as follows: review of the strategic and Superintendents in charge of all our foundations and Our governance structure allows us to improve and integrate synergies between areas with complementary challenges, thus sustainability guidelines, initiatives addressing climate institutes, this committee is responsible for making strate- strengthening the dissemination of global trends that may have a direct impact on the bank’s strategic business planning. change (Task Force on Climate-related Financial gic decisions about our private social investments, as well as Therefore, we were able to direct both short- and long-term action plans that drive material changes for our stakeholders, which Disclosures, climate risk), review of the governance and risk management in the group’s foundations and institutes. shows that our committees have an indirect impact on our strategic planning. diversity roadmap, human rights due diligence, and In 2018, it conducted a study on the social impact of our green products business challenge. social and cultural entities, focused on Instituto Unibanco, The graph below shows our sustainability governance forums. Itaú Cultural, and Itaú Social, aiming at increasing its com- • Working Groups: set up to make us more efficient in pliance with domestic and international best practices, and Our sustainability governance • Board of Directors: guides, monitors and approves the the implementation of our sustainability strategy and maximizing each entity’s actions. sustainability strategy and policy aligned with our long- integrate sustainability initiatives into business areas, structure GRI 102-18 | GRI 102-20 term vision. In 2018, Sustainability and our progress on the working groups are responsible for managing Integrity and Ethics Committee priority topics were discussed at a meeting that