Itaú Allocates R$8.4 Billion from Eco Invest

Itaú Unibanco concluded the allocation of R$8.4 billion approved under the first auction of Eco Invest Brasil. The deployed capital financed projects in sanitation, energy transition, bioeconomy, circular economy, and sustainable infrastructure. On the first auction, Itaú secured the largest volume of funds among participating financial institutions, combining R$1.35 billion raised directly through the program and R$7.05 billion in mobilized private capital.

The bank structured 16 operations for this initial round. Circular economy financing included over R$2 billion for Sabesp and R$500 million for Aegea to modernize water and sewage systems. In energy transition, Itaú backed corn ethanol initiatives with R$400 million for Coamo and R$500 million for São Martinho. It also structured energy efficiency deals with Volkswagen in two tranches of R$531 million and R$469 million, along with R$400 million for EDP.

Bioeconomy investments featured R$802 million for Bracell and R$907 million for Suzano for sustainable forestry management. In green infrastructure, Grupo Boticário received R$375 million and Eurofarma secured R$419 million to boost climate resilience and resource efficiency.

Eco Invest Brasil was launched by the federal government in 2024. Across four completed auctions, the program has mobilized roughly R$140 billion, with a fifth auction launched in May. Itaú holds over R$41 billion in total awards under the program, including R$3.875 billion from the second auction and R$29.250 billion from the third. Luciana Nicola, institutional relations and sustainability director at Itaú Unibanco, noted that while the bank is progressing on these later allocations, their distinct financing instruments make it impossible to project a completion date at this stage.