ABANCA works on a responsible and sustainable, transparent and innovative banking model, with a profitable economic business, a contribution to social development and environmental protection.
The Sustainability Policy and the Responsible Investment and Integration of Sustainability Risk Policy, together with the other internal policies, constitute the corporate framework that guides our actions in the field of Sustainability.
This Sustainability Policy aims to gather ABANCA’s strategy and basic principles of action and commitments in order to promote sustainability, evaluate its strategic impact and promote and manage initiatives designed to respond to the challenges put forward by climate change from an environmental, social and governance point of view.
Its objective is to contribute to being a high-performance organization that pursues to be profitable in a sustainable, responsible and innovative way, by creating value, analysing, preventing and mitigating the negative impacts that our decisions and business activities have on the environment and society, and also ensuring that our governance structures contribute in a valuable way to sustainable and inclusive development, which will be always supported by the actions of the people involved therein and guided by social interest.
The Responsible Investment and Integration of Sustainability Risk Policy aims to collect the strategy and basic principles of voluntary and aspirational action in this matter, in order to obtain a return on investment that is consistent with the objectives of its clients, while seeking maximize social welfare. For that purpose, the sustainability risks or ESG risks of the investments are taken into account and incorporated into the specific financial metrics on these factors.
In addition, this Policy aims to respond to the obligations of Regulation (EU) 2019/2088 of the European Parliament and of the Council, of November 27th, 2019, on sustainability related disclosures in the financial services sector. In particular, the Policy is intended to inform about how sustainability risks are integrated into investment decision-making and advisory processes.
ABANCA is firmly committed to making its business activity serves as an impetus for sustainable growth in a transparent manner, in line with the ten principles of the Global Compact, as well as with the Sustainable Development Goals (SDGs) launched by the United Nations and the Agreement on Paris.
The entity undertakes to act throughout its value chain and in its sphere of influence to achieve, as well as disseminate, these commitments.
In order to guarantee excellence in our business model and respond to the challenges arising from climate change from an environmental, social and governance point of view, we follow the most demanding quality standards and seals.
Our accession to the Principles for Responsible Banking represents another step in our social strategy taht is focused on good governance, equal opportunities, education, culture, and the environment.
ABANCA is a founding signatory of the Principles for Responsible Banking in order to play an active role in creating a sustainable economy and, based on innovation, leading new ways of doing finances. For this purpose, we align the strategies of our company towards the achievement of the Sustainable Development Goals of the United Nations and the Paris Agreement.
ABANCA considers that, as established on the Principles, people and enterprises can only flourish on an inclusive society based on human dignity, equality and the sustainable use of natural resources. On this basis, we are also going to reinforce our commercial strategy, so it is coherent with this commitment, making sure our products and services contribute to support and speed up the fundamental changes on the economy and lifestyle needed to reach the SDGs and comply with the Paris Agreement. Nowadays, the bank already has specific products to finance the purchasing of efficient vehicles and household renovations aimed to improve energy efficiency and the use of renewable energies. Click on this link to learn about the information on the launch of the Principles for Responsible Banking in the United Nations Headquarters in New York City.
The Principles for Responsible Banking have been developed by the United Nations Environment Programme – Finance Initiative (UNEP FI).
ABANCA has been a member of the Global Compact Network since its establishment in 2015. Our commitment as a member of the Global Compact Network is mainly focused on involving companies and other bodies in sustainable development. ABANCA incorporates the ten universal principles of the compact launched in 2000 into its business and value chain.
ABANCA has joined the UN Collective Commitment to Climate Action. The signing of the agreement is the first ABANCA's tangible step towards aligning our business with the International climate objectives. The document establishes specific actions with precise deadlines the signing Banks will set in their strategys in order to wide their contribution and align their businesses with the objectives of the Paris Agreement on climate change.
Among other actions, the entities are committed to finance the low carbon economy; use their products, services and customer relationships to facilitate the economic transition needed to reach the climate neutrality and have a transparent communication with regard the climate impact of their business activity and the progress achievements of these commitments.
Click here to learn about the information related to the signing of the agreement.
To mark the annual measures to our Commitment to Climate Action, ABANCA has prepared its first Report on Climate Action to inform on the annual progress of the measures related to the Commitments assured.
On the occasion of the United Nations Conference on Climate Change (COP25), which was held in December 2019 in Madrid, the main Spanish banks, including ABANCA, presented a joint commitment to proceed within a specified period to reduce the carbon footprint in their lending portfolios, in a way that can be measured with internationally approved criteria and in line with the objectives set in the Paris Agreement.
The signatory banks undertook to develop the necessary methodologies to assess the impact of their clients' business activities may have on their balance sheets from the point of view of preserving the environment and fighting climate change.
ABANCA is the first Spanish bank to join these principles promoted by UNEP FI and the Global Compact.
ABANCA has agreed on the Principles in two categories: ABANCA Corporación Bancaria, which carries out financial activity through its department of Capital Markets, Management and Distribution in the Investment Management Unit (“investment manager”), and ABANCA Seguro (insurance Company), through which the group operates in the insurance segment as an asset owner.
ABANCA has signed the Sustainable Ocean Principles, an initiative of the United Nations Global Compact Network that constitutes a framework of responsible commercial practices with oceans, common to all types of business sectors and geographies.
With this action, ABANCA recognizes the emergency and importance of adopting measures on a global scale that promote the well-being of the ocean, in order to conserve its richness today and in the future.