In late September, Latin America's largest fintech, Nubank, announced that, as of August 2020, it has achieved net-zero carbon emissions. Additionally, by supporting projects which prevent the emission of carbon dioxide (CO2), the Brazilian startup has been able to offset its previous emissions.
Despite being a digital bank with most of its operations online, Nubank still had some direct and indirect environmental impacts, such as the manufacturing and delivery of credit cards to customers as well as the power used by the bank's employees at work.
With this in mind, the fintech partnered with projects which are also using energy innovation to render their operations more efficient and sustainable across different regions: Cerâmica Buenos Aires (Pernambuco, Brazil), Cerâmica Luara (São Paulo, Brazil), Cerâmica Maracá (Minas Gerais, Brazil) and Utsil Naj (Mexico). The selected projects are also making an impact within local communities, by investing in education, health, sports and employment project.
“Neutralizing our carbon emissions is another step which we took to build a more simple, human, and sustainable world – a more Nubank-like world." the organization stated in an official press release.