The Ecomudança Project is an initiative created by Banco Itaú, together with Ekos Brasil, in which 30% of the Itaú Ecomudança Fund administration fee is reverted in donations to promote projects focused on reducing greenhouse gas emissions and water footprints, promoting initiatives to mitigate climate change.
Since 2007, Ekos Brasil has assisted Banco Itaú in structuring, developing and coordinating the investment program in environmental projects of the Ecomudança Fund. According to Denise Hills, a Sustainability Superintendent at Itaú, “to increase the impact of Ecomudança, we will now have the option of financing at reduced interest rates as a way to support NGOs and small and medium-sized companies in the implementation of environmental projects… this will certainly increase the beneficiaries’ commitment with the development and continuity of the project… it is also important to say that donations will continue”.
Goal: To stimulate and instigate projects that aim to reduce greenhouse gas emissions and water footprints, in addition to promoting positive social impacts to the beneficiary communities.
Activities: Support the call for projects, as well as their selection and follow-up. The registered projects are evaluated according to their potential for Greenhouse Gas and/or Water Footprint reduction, potential for replication, generation of positive social impacts and execution risk.
Results: the Program has already contributed to the reduction of approximately 22,000 t/CO2 of greenhouse has concentrations in the atmosphere, and has generated investments of about R$ 5.3 million in a total of 46 projects around 19 Brazilian states.
To learn more, visit: www.itau.com.br/sustentabilidade/riscos-e-oportunidades-socioambientais/ecomudanca/