Acting model
“Society is demanding a more sustainable economic model and the financial sector must respond to this demand by channeling resources into businesses that include sustainability criteria in their governance and operations.”
Juan Carlos Escotet, Chairman of ABANCA.
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Policies, ethics and transparency
We have defined a model for action that makes sustainability one of the focal points of decision-making in order to create value, analyze, prevent, and mitigate the negative impacts that our actions could have on society and the environment.
Sustainability Policy
This policy seeks to link together ABANCA’s strategy and the basic principles underlying its actions and commitments in the area of sustainability to evaluate its strategic impact and to promote and manage initiatives that are designed to respond to the challenges posed by climate change from the perspective of the environment, society, and governance.
Its aim is to contribute to making this a high-performance organization that succeeds in being profitable while being sustainable, responsible, and innovative, by creating value, analyzing, preventing, and mitigating the negative impacts that our decisions and activities have on the environment and society. With this policy, we will ensure that our governance structures make a valuable contribution to sustainable, inclusive development by drawing on the actions of its people and being guided by the interests of society.
The ABANCA Responsible Investment and Integration of Sustainability Risks Policy
The Responsible Investment and Integration of Sustainability Risks Policy aims to bring together the strategy and the voluntary and aspirational basic principles of action in this area with the objective of obtaining a return on investment that is consistent with its customers’ objectives, while seeking to maximize the wellbeing of society. The sustainability risks or the environmental, social, and governance (ESG) risks of investments are therefore taken into consideration and specific financial metrics regarding these factors are included.
In addition, this policy is intended to meet the obligations of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector. In particular, the aim of the policy is to provide information on how sustainability risks are included in investment and advisement decision-making processes.
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Other Information Related to the Integration of Sustainability Risks
Engagement Policy
The engagement policy aims to establish the general principles and criteria required to guarantee adequate engagement by the ABANCA Group in the corporate governance of listed companies in which it invests, so as to ensure that: the interests of its customers and the various investment vehicles it manages take precedence over any other consideration; long-term value is created by investing in companies that share this approach and this commitment to sustainability; and ESG criteria are applied to ABANCA Group investments.
This policy was also drawn up in accordance with the current regulations for the sector, in particular Directive (EU) 2017/828 of the European Parliament and of the Council of May 17, 2017, amending Directive 2007/36/EC in relation to the promotion of long-term commitment by shareholders, institutional investors, and asset managers, who are frequently important shareholders in listed companies and can, therefore, play a prominent role in the corporate governance of these companies and, more generally, in their long-term strategy and performance.
SDG Bond Framework
ABANCA is establishing a Sustainable Development Goals Bond Framework, with the aim of reinforcing its commitment to sustainability, contributing to the transition towards a more sustainable society and towards an economy with low greenhouse gas (GHG) emissions as well as the increasing demand for investments with positive environmental and social impact from both the regulators and investors.
ABANCA’s Sustainable Development Goals Framework has been developed in line with ICMA’s Green Bond Principles, Social Bond Principles, Sustainability Bond Guidelines and EU Taxonomy.
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The framework has obtained an independent verification assessment from Sustainalytics. Acces the document.
Energy and Environmental Policy
The planet is facing great changes and it is the responsibility of each one of us to safeguard its welfare, since it is the only one we have and the one that gives us oxygen, water, and the resources we need to live. And its sustainability involves “caring for, protecting, and preserving it”.
This policy is intended to offer a common framework of reference for setting targets and undertaking actions, based on the ABANCA commitment to consume energy efficiently, reduce its greenhouse gas emissions, and set up appropriate environmental management mechanisms.
It is an example of our effort and involvement in confronting the climate emergency. See the complete document.
Fiscal Policy
ABANCA aligns itself with the best practices of listed companies in the area of corporate fiscal policy, reconciling its own interests with the legitimate interests of all other economic and social agents and all other stakeholders with which it interacts.
Code of Ethics and Conduct
This document formalizes the main rights and obligations regarding conduct, behaviors, procedures, attitudes, and aptitudes, which both the organization and everyone that forms part of it must adopt.
Human Rights Commitment
For ABANCA, respect for human rights is a minimum standard for action. Our commitment is understood to be one of the foundations of a sustainable path to progress, continuing well-being, and a more decent life for our stakeholders and the society of which we are part.
Anti-corruption Policy
For ABANCA, corruption is a form of criminal activity contrary to our values and basic principles for action. To combat this practice, it adopts a ZERO tolerance policy and it is understood to be an essential tool for preventing both the Organization and all others from engaging in this type of behavior.
Quality Policy
Our Quality Policy shows we are committed to the continuous improvement and excellent management of our processes and services as the basis of a quality service. We achive so by boosting best practices among our management systems, knowing the expectations from our clients both internal and external and driving improvement actions. Towards its development and revision the mission, the vision and strategic plan of the entity had been considered and it is based on the three abovementioned cornerstones.
Agreement of staff management
ABANCA has a staff management model that tries to guarantee the well-being of the workforce. Through different action plans, we work to implement good practices and improve the measures included, both in the regulations and in the sectoral agreements.
ABANCA’s 2021-2025 Equality Plan is made up of 10 areas of action with specific actions to be carried out in: gender training, selection and hiring, professional promotion, remuneration and salary audit, co-responsible exercise of the rights of personal, family and labour life, under-representation of women, non-sexist communication and language, prevention of occupational risks with a gender perspective, prevention of moral harassment, sexual and gender-based harassment and, finally, gender violence. The Plan improves the reconciliation measures compared to those included in the general regulations.
ABANCA has a Complementary Social Welfare System that allows the workforce to access effective benefits in the event of certain risk (death and disability) and savings contingencies, with a significant improvement compared to collective bargaining agreements in Spain.
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Commitments and Partnerships
Adherence to the following principles and commitments means we take part in workgroups that aim to draw up and implement a set of measures for combating climate change and developing a sustainable business model for banking.
Adherence to the following principles and commitments means we take part in workgroups that aim to draw up and implement a set of measures for combating climate change and developing a sustainable business model for banking.
UN Global Compact Network
Our greatest commitment continues to be complying with current fiscal regulations, based on good faith, ethics, and respect for the commonly accepted best practices. For this reason, in accordance with the strictest standards for transparency.
Principles for Responsible Banking
As founding signatories, our aim is to play an active role in the creation of a sustainable economy and, through innovation, to be leaders in the new ways of doing finance. For this reason, we align our bank’s strategies with the achievement of the United Nations Sustainable Development Goals and the Paris Agreement.
Collective Commitment to Climate Action
We joined this agreement by undertaking to align our business with the international climate goals. This initiative lists specific actions and deadlines that ABANCA will implement to increase our contribution to and bring our activities into line with the climate goals of the Paris Agreement.
Sectoral Engagement for Climate Action
On the occasion of the United Nations Conference on Climate Change (COP25), which was held in Madrid, the major Spanish banks, including ABANCA, presented a joint agreement to reduce the carbon footprint of their credit portfolios within a certain timeframe, in a manner that could be measured using internationally agreed criteria and in line with the targets set in the Paris Agreement.
Principles for Responsible Investment
ABANCA is the first Spanish bank to adhere to the principles promoted by the United Nations Environment Program Financial Initiative (UNEP FI) and the Global Compact. ABANCA signed up to the principles in two categories: banking, as ABANCA Corporación Bancaria, and insurance, as ABANCA Seguros, taking a step further in our sustainability strategy.
Sustainable Ocean Principles
By making these commitments, we recognize the urgency and importance of adopting measures worldwide to promote the well-being of the ocean and we undertake to work towards this within our own sphere of action.
Net-Zero Banking Alliance
Through this alliance, we joined this ambitious initiative by the banking sector in order to support the transition to a net zero economy by committing to bringing our loan and investment portfolios into line with the paths to Net Zero by 2050.
ABANCA sets the first decarbonisation targets for its loan portfolio as part of its plan to reach net zero emissions by 2050. More information
Galician Climate Alliance
ABANCA has joined this initiative promoted by the Ministry of the Environment, Territory and Housing of the Xunta de Galicia in order to involve the Galician business fabric in the fight against climate change.
PCAF (Partnership for Carbon Accounting Financials)
Adhesion to the PCAF (Partnership for Carbon Accounting Financials) global alliance, whose objective is to establish an international methodology for measuring and disclosing the greenhouse gas emissions financed by banks and investors.
Diversity Charter
The European Commission entrusted one institution in each country to develop and implement the Diversity Charter. In Spain, Fundación para la Diversidad has been in charge of this mission since 2009. The creation of the Diversity Charter in Spain is part of the EU’s equality and anti-discrimination policies.
ABANCA has signed the Diversity Charter, on a voluntary basis, and committed to promoting the fundamental principles of equality, diversity and inclusion.
CDP (Carbon Disclosure Project)
It is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
ABANCA participates in CDP's annual questionnaire on climate change, which is in turn aligned with the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures).
