Wednesday, December 8

Banco Sabadell: commitment to the planet and to society

Sabadell Bank

As an important asset of the Spanish financial sector, Banco Sabadell reaffirms its commitment to the environment and society by taking care of the environmental footprint of its productive activity, adapting the organization to the demands of the new paradigm, and promoting sustainable finance.

In line with its alliances to fight climate change, Banco Sabadell has strengthened its commitment by joining the UN-convened Net-Zero Banking Alliance. The banks of this international alliance promoted by the Financial Initiative of the United Nations Environment Program, commit to make all their credit and investment portfolios neutral in net greenhouse gas emissions by 2050 as a deadline, online with the most ambitious goals of the Paris Agreement.

Also, in your effort to reduce your carbon footprint, the bank has adhered to the Collective Commitment to Climate Action and stands as a signatory signatory to the Principles of Responsible Banking. Regarding the respect for the adaptations that the company itself has made in its structure, Banco Sabadell has oriented its activity, organization and processes to firmly contribute to sustainability and the fight against climate change. For this, it has integrated the Sustainable Development Goals to its strategy and business model and has created the Sustainability Directorate, a committee and a commission in the board of directors in charge of maintaining the entity’s strategy in favor of sustainability.

In addition, the bank has an environmental management system which ensures the minimization of the environmental impact of its processes and facilities and has established emission reduction targets that are linked to its synthetic sustainability indicator. In its work to accompany the ecological transition and to promote the transformation towards low-emission development models, Banco Sabadell is working on fixing by 2022 the decarbonisation paths of the most carbon-intensive sectors.

Meanwhile in the commitment to energy efficiency and renewable energies, the bank has achieved a 99% reduction of CO2 emissions derived from electricity consumption in Spain, compared to 2014. The contracting of electricity of 100% renewable origin, with a consumption since 2016 close to 100%, as well as the new projects of self-generation of energy with photovoltaic panels in corporate centers are some of these milestones.

Company banking

The work of banks is essential to offer solutions to people and companies in exceptional moments like the present, in which the context combines the need to recover from covid-19 with the urgency of doing it with respect for the environment. For this reason, in terms of its business model, the bank works to accompany its clients in the ecological transition and the generation of solutions and capacities to facilitate their contribution to sustainability for clients and investors.

The challenge ahead for Banco Sabadell is even greater if its role as a business bank is taken into account: Through this role, it must channel resources towards sustainable, low-carbon and climate-resilient development. For this, it has the Sustainable Finance Plan, which, among others, makes it possible to distinguish between sustainable and unsustainable activities, and to develop products aimed at energy efficiency, mobility or savings and investment solutions.

In the financial products it offers, it has different types of business financing to generate and take advantage of opportunities related to sustainability. Among other products, it has a bond framework linked to the SDGs, issues green bonds, and has programs aimed at promoting sustainable companies, such as BStartupGreen.

It also offers an advisory service to its clients to promote the transition of their activities towards a sustainable model through specialization and proximity, and identifies the different opportunities that companies have to access aid from the European Recovery Fund. However, the efforts of the bank go beyond the financial sector. Banco Sabadell focuses on actions with a social focus with products, education and employability programs and advice to groups in vulnerable situations.

As an example, has developed new products such as the BSocial Impact Fund. This product has exceeded 50 million euros six months after its launch.

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