Information is assured by independent assurors (e.g., accounting or consulting firm) against recognized assurance standard (e.g., ISAE3000, AA1000AS, other national or industry-specific standard)

Other established or emerging best practices

The audit of our financial statements in International Financial Reporting Standards as adopted by the International Accounting Standards Board, or IASB, is carried out by PricewaterhouseCoopers Auditores Independentes, or PwC.

Applies the GRI Sustainability Reporting Guidelines or the GRI Standards

Is 'in accordance - core' with GRI Standards

Applies elements of the International Integrated Reporting Framework

Provides information on the company’s profile and context of operation

Place responsibility for execution of sustainability strategy in relevant corporate functions (procurement, government affairs, human resources, legal, etc) ensuring that no function is conflicting with company sustainability commitments and objectives

Align strategies, goals and incentive structures of all business units and subsidiaries with corporate sustainability strategy

Assign responsibility for corporate sustainability implementation to an individual or group within each business unit and subsidiary

Design corporate sustainability strategy to leverage synergies between and among issue areas and to deal adequately with trade-offs

Ensure that different corporate functions coordinate closely to maximize performance and avoid unintended negative impacts

Other established or emerging best practices

Our governance structure is integrated with our business, making environmental and social (E&S) issues part of our daily activities and processes, identifying areas capable of addressing them and periodically tracking performance and indicators for it.

Analyze each segment of the value chain carefully, both upstream and downstream, when mapping risks, opportunities and impacts

Communicate policies and expectations to suppliers and other relevant business partners

Implement monitoring and assurance mechanisms (e.g. audits/screenings) for compliance within the company’s sphere of influence

Undertake awareness-raising, training and other types of capacity building with suppliers and other business partners

Other established or emerging best practices

We finalized, in 2015, the deployment of the new ERP system for better management and control of hirings and payments, and we began using the telemetry cell responsible for the timely monitoring of the indicators of the operation.

Process to ensure that internationally recognized human rights are respected

On-going due diligence process that includes an assessment of actual and potential human rights impacts (BRE 2 + BRE 3 + ARE 2 + ARE 3)

Internal awareness-raising and training on human rights for management and employees

Operational-level grievance mechanisms for those potentially impacted by the company’s activities (BRE 4 + ARE 4)

Internal decision-making, budget and oversight for effective responses to human rights impacts

Processes to provide for or cooperate in the remediation of adverse human rights impacts that the company has caused or contributed to (BRE 3+ BRE 4 + ARE3 + ARE 4)

Process and programs in place to support human rights through: core business; strategic philanthropic/social investment; public policy engagement/advocacy; partnerships and/or other forms of collective action (BRE 6 + ARE 6)

Other established or emerging best practices

We seek to promote diversity of sexual orientation, gender, ethnicity, persons with disabilities, generation or beliefs through seminars, training, lectures, information posted on the intranet and videos to our employees and to our suppliers.

System to monitor the effectiveness of human rights policies and implementation with quantitative and qualitative metrics, including in the supply chain (BRE3 + ARE3)

Monitoring draws from internal and external feedback, including affected stakeholders

Leadership review of monitoring and improvement results

Process to deal with incidents the company has caused or contributed to for internal and external stakeholders (BRE 4 + ARE 4)

Grievance mechanisms that are legitimate, accessible, predictable, equitable, transparent, rights-compatible, a source of continuous learning, and based on engagement and dialogue (BRE4 + ARE4)

Outcomes of integration of the human rights principles

Other established or emerging best practices

In 2015, we started to report monitoring formal complaints on human rights and other issues in our formal channels. We had 6 cases classified as discrimination, of which 5 cases were resolved and classified as unfounded and 1 case is still being handled

Commitment to comply with all applicable laws and respect internationally recognized human rights, wherever the company operates (e.g., the Universal Declaration of Human Rights, Guiding Principles on Human Rights) (BRE1 + ARE1)

Integrated or stand-alone statement of policy expressing commitment to respect and support human rights approved at the most senior level of the company (BRE 1 + BRE5 + ARE 1 + ARE 5)

Statement of policy stipulating human rights expectations of personnel, business partners and other parties directly linked to operations, products or services (BRE 1)

Statement of policy publicly available and communicated internally and externally to all personnel, business partners and other relevant parties (BRE 1 + BRE 5 + ARE 1 + ARE 5)

Other established or emerging best practices

In 2015, in order to reinforce our respect for human rights in relations with employees, customers and suppliers, Itau Unibanco revised its Commitment to Human Rights launched in 2014.

System to track and measure performance based on standardized performance metrics

Dialogues with the representative organization of workers to regularly review progress made and jointly identify priorities for the future

Audits or other steps to monitor and improve the working conditions of companies in the supply chain, in line with principles of international labour standards

Process to positively engage with the suppliers to address the challenges (i.e., partnership approach instead of corrective approach) through schemes to improve workplace practices

Outcomes of integration of the Labour principles

Other established or emerging best practices

We seek to avoid potential impacts in our value chain, through the approval process. Highlighting environmental impacts, related to illegal labor practices (child labor, forced labor, slave labor, inadequate working conditions and impact of human righs

Reference to principles of relevant international labour standards (ILO Conventions) and other normative international instruments in company policies

Reflection on the relevance of the labour principles for the company

Written company policy to obey national labour law, respect principles of relevant international labour standards in worldwide company operations and engage in dialogue with representative organization of the workers (international, sectoral, national).

Inclusion of reference to the principles contained in the relevant international labour standards in contracts with suppliers and other relevant business partners

Specific commitments and Human Resources policies, in line with national development priorities or decent work priorities in the country of operation

Other established or emerging best practices

In the labour area, we promote the decent work through the “Corporate Charter on Human Rights and the Promotion of Decent Work” (http://www3.ethos.org.br/wp-content/uploads/2012/06/Carta-Empresarial-pelos-DH-VERS%C3%83O-FINAL1.pdf)

Risk and impact assessments in the area of labour

Dialogue mechanism with trade unions to regularly discuss and review company progress in addressing labour standards

Allocation of responsibilities and accountability within the organization

Internal awareness-raising and training on the labour principles for management and employees

Active engagement with suppliers to address labour-related challenges

Grievance mechanisms, communication channels and other procedures (e.g., whistleblower mechanisms) available for workers to report concerns, make suggestions or seek advice, designed and operated in line with the representative organization of workers

Other established or emerging best practices

We seek to retain local companies as contractors, focusing on small/medium businesses;Training, employing persons with disabilities, active involvement in their development agenda, practices to combat forced and child labor, corruption and prostitution

System to track and measure performance based on standardized performance metrics

Leadership review of monitoring and improvement results

Process to deal with incidents

Audits or other steps to monitor and improve the environmental performance of companies in the supply chain

Outcomes of integration of the environmental principles

Other established or emerging best practices

In 2015, we create a committee to enhance the execution of our sustainability strategy and integrate sustainable initiatives into business areas (Internal Management) and also established longterm ecoefficiency targets.

Environmental risk and impact assessments

Allocation of responsibilities and accountability within the organisation

Internal awareness-raising and training on environmental stewardship for management and employees

Grievance mechanisms, communication channels and other procedures (e.g. whistleblower mechanisms) for reporting concerns or seeking advice regarding environmental impacts

Other established or emerging best practices

In 2015, we developed an ESG methodology for sovereign bonds and continued to apply our ESG methodology to value corporate bonds. Currently, we have 70% of the corporate bonds in our portfolios covered.

Reference to relevant international conventions and other international instruments (e.g. Rio Declaration on Environment and Development)

Reflection on the relevance of environmental stewardship for the company

Written company policy on environmental stewardship

Inclusion of minimum environmental standards in contracts with suppliers and other relevant business partners

Specific commitments and goals for specified years

Other established or emerging best practices

In 2015, we published a paper with our Environmental and Social Risks and Opportunities strategy, showing our learning experiences, practices and challenges.

Support by the organization’s leadership for anti-corruption (B4)

Carrying out risk assessment of potential areas of corruption (D3)

Human Resources procedures supporting the anti-corruption commitment or policy, including communication to and training for all employees (B5 + D8)

Internal checks and balances to ensure consistency with the anti-corruption commitment (B6)

Actions taken to encourage business partners to implement anti-corruption commitments (D6)

Management responsibility and accountability for implementation of the anti-corruption commitment or policy (D7)

Communications (whistleblowing) channels and follow-up mechanisms for reporting concerns or seeking advice (D9)

Internal accounting and auditing procedures related to anticorruption (D10)

Other established or emerging best practices

All at-risk employees had attended corruption prevention modules as part of training programs, all employees and senior management in Brazil had been informed of the prevention of corruption policy and of the classroom or remote training on the subject.

Leadership review of monitoring and improvement results (D12)

Process to deal with incidents (D13)

Public legal cases regarding corruption (D14)

Outcomes of integration of the anti-corruption principle

Publicly stated formal policy of zero-tolerance of corruption (D1)

Commitment to be in compliance with all relevant anti-corruption laws, including the implementation of procedures to know the law and monitor changes (B2)

Statement of support for international and regional legal frameworks, such as the UN Convention against Corruption (D2)

Detailed policies for high-risk areas of corruption (D4)

Policy on anti-corruption regarding business partners (D5)

Other established or emerging best practices

We have a commitment on “Empresa Limpa” (Company Cleans) – for the integrity and against corruption, which aims to work with businesses to promote a more principled and ethical market.

Align core business strategy with one or more relevant UN goals/issues

Develop relevant products and services or design business models that contribute to UN goals/issues

Adopt and modify operating procedures to maximize contribution to UN goals/issues

Other established or emerging best practices

Itaú Fundo Ecomudança: fund that donate and lend 30% of their management fees to support GHG reduction projects in order to develop initiatives to: urban mobility, energy efficiency, renewable energy, waste management, sustainable agriculture and forests

Pursue social investments and philanthropic contributions that tie in with the core competencies or operating context of the company as an integrated part of its sustainability strategy

Coordinate efforts with other organizations and initiatives to amplify—and not negate or unnecessarily duplicate—the efforts of other contributors

Take responsibility for the intentional and unintentional effects of funding and have due regard for local customs, traditions, religions, and priorities of pertinent individuals and groups

Other established or emerging best practices

We set up Itau Social Foundation to organize and deploy its social investment nationally. The Foundation’s purpose is to develop, implement and disseminate social methodologies advancement of public education, while boosting the engagement.

Develop and implement partnership projects with public or private organizations (UN entities, government, NGOs, or other groups) on core business, social investments and/or advocacy

Join industry peers, UN entities and/or other stakeholders in initiatives contributing to solving common challenges and dilemmas at the global and/or local levels with an emphasis on initiatives extending the company’s positive impact on its value chain

Other established or emerging best practices

Itau Women Entrepreneur: the result of a partnership with the IFC – World Bank and the Inter-American Development Bank to offer financial and nonfinancial solutions to women entrepreneurs.

Publicly advocate the importance of action in relation to one or more UN goals/issues

Commit company leaders to participate in key summits, conferences, and other important public policy interactions in relation to one or more UN goals/issues

Other established or emerging best practices

in 2015 we released a document about Itau Unibanco’s Environmental and Social Risks and Opportunities, covering our past performance, our practices and our views of the future

CEO leads executive management team in development of corporate sustainability strategy, defining goals and overseeing implementation

CEO publicly delivers explicit statements and demonstrates personal leadership on sustainability and commitment to the UN Global Compact

CEO promotes initiatives to enhance sustainability of the company’s sector and leads development of industry standards

Make sustainability criteria and UN Global Compact principles part of goals and incentive schemes for CEO and executive management team

Other established or emerging best practices

Board of Directors discusses strategic and long-term sustainability decisions and approves policy guidelines. In 2015, the theme was discussed and addressed, among other issues, governance challenges and impacts of climate change in the financial system

Publicly recognize responsibility for the company’s impacts on internal and external stakeholders

Define sustainability strategies, goals and policies in consultation with key stakeholders

Consult stakeholders in dealing with implementation dilemmas and challenges and invite them to take active part in reviewing performance

Establish channels to engage with employees and other stakeholders to hear their ideas and address their concerns

Other established or emerging best practices

Ongoing dialogue with stakeholders: workshops, publications, talks, lectures, surveys, public meetings and social media. Contacts on our website, an External Ombudsman service and consumer protection agencies etc.

Board of Directors (or equivalent) assumes responsibility and oversight for long-term corporate sustainability strategy and performance

Board establishes, where permissible, a committee or assigns an individual board member with responsibility for corporate sustainability.

Board (or committee), where permissible, approves formal reporting on corporate sustainability (Communication on Progress)

Other established or emerging best practices

Changes in regulation of the committee of strategy in this year, now directors assigns responsibilities for sustainability issues in the Board of Directors.