Sustainability is considered a transversal framework for performance, maintaining the transparency and balance of the CSR strategy and alignment with the business.
This Sustainability Policy aims to gather the entity’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 the 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, analyzing, preventing and mitigating the negative impacts that our decisions and 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 their people involved therein and guided by social interest.
In order to guarantee the excellence of our business model and become a part of the solution to the challenges of climate change. we are guided by a set of national and international quality standards and seals:
Our adherence to the Principles for Responsible Banking represents another step in our social strategy 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 the new ways of doing finances. To do this 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, people and enterprises. 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 domestic reforms aimed to improve energy efficiency and the use of renewable energies.
In this link you may check all the information about 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 is a member, since its establishment in 2015, of the Global Compact Network. The commitment to the network of the Global Compact is mainly focused on involving companies and other bodies in sustainable development. ABANCA incorporates the ten universal principles of the compact launched in the year 2000 into its activity and value chain.
ABANCA has joined the UN Collective Commitment to Climate Action. The signing of the agreement is the first tangible step towards the commitment of aligning our business with the International climate objectives. The document establishes specific actions with precise timelines the signing Banks will set in to wide their contribution and align its activity with the objectives of the Paris Agreement on climate change.
Among other actions, the entities are committed to finance the low carbon economy; use its products, services and customer relationships to facilitate the economy transition needed to reach the climate neutrality and have a transparent communication about the climate impact of its activity and the progress towards this commitments.
Click here to consult all the information about the signing of the agreement.
To mark the annual measures to our Commitment to Climate Action, ABANCA is sharing its progress and experience in a progress report paper, as the bank has taken the first steps to far-reaching change.
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 footprint of carbon in their credit 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 that the activity carried out by their clients may have on their balance sheets from the point of view of preserving the environment Founding Signatory of: and fighting climate change.
ABANCA is the first Spanish bank to join these principles promoted by UNEP FI and the Global Compact.
ABANCA has subscribed to 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 ( “asset owner”).
ABANCA has also launched its Responsible Investment Policy, in which its ESG investment model, called Alpha360, is integrated with the aim of generating investment ideas aligned with ABANCA’s corporate values.
Click here to find the extended document.
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 the 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 wealth today and in the future.