Banco Sabadell launches products to contribute to a sustainable economy

Accompanying the client in his ecological transition

With regard to accompanying the client’s ecological transition, solutions for all segments through specialized products and services energy efficiency, renewable energies and mobility. In order to carry out this accompaniment, the bank needs to know which activities are considered sustainable and which are not, thanks to its own structure. Banco Sabadell’s Internal Compliance Guide It has been developed in accordance with the taxonomy of green activities of the European Union (EU). At the same time, the bank analyzes: Environmental Impact Incorporating physical and transit risk in credit acceptance processes.

The next step is to focus Consulting to help companies reach the current regulations in the most understandable and close way. One element of the conversation between the client and the commercial manager is an ESG survey (Essential, Social and Governance), which aims to know the client’s activities and their capacity to undertake them. ESG straight and, as a result, recommends solutions that best fit transition needs.

Then, if necessary, it accompanies in it. Getting help from European Recovery Fundsoffers a comprehensive service. For this, it determines the most appropriate subsidy, assists in its processing and estimates or co-finances the subsidy amount. The bank has a team specialized in this field. fondos New Generation from the EU. In addition, it is executed Training through Company Headquarters. The third step in the process of accompanying customers is the realization of sustainable finance through sustainability-related transactions.

Banco Sabadell launched in 2021 More than 11,000 million euros in financial products and services and in sustainable finance solutions, including financing. sustainable practicefinance linked to sustainability, capital markets and social finance.

sustainable products

On the way to a sustainable economy, Banco Sabadell has created a range of green products such as: green mortgage or sustainable lease (Eco real estate lease, self-consumption lease) financing of photovoltaic plants and Eco rental vehicles for those with the Eco or zero energy label) are intended for companies and individuals.

Without forgetting the Eco-reform Expansion Loan; Eco Fixed Amortization Loans (PAC); Loans Proprietary communities or Eco Agricultural Credit, products in line with opportunities created by the Government through financial incentives.

The bank also assists customers with placements. green and sustainable bonds For an amount of more than 3,500 million Euros and participation in public affairs. In addition, renewable energy projects (wind farms and photovoltaic plantsmainly), through its subsidiary Sinia Renovables, and participating in the equity of various companies that install and operate solar panels self-consumption in medium-sized companies.

Another sign that the bank’s strategy is sound and determined is this: 45.7% of corporate loans from large companies are related to sustainability. In fact, 30 structured finance projects have been signed, 97% of which include the Equator Principles corresponding to renewable energy projects.

There are many examples of Banco Sabadell’s commitment to sustainability and the fight against climate change and to passing it on to customers. Thus, there are opportunities sustainable investment through solutions like our own framework for publishing bonds tied to the SDGs, and the launch of three own green issues worth €1,120 million (500 million in 2021) over the past two years.

international alliances

Banco Sabadell has been building alliances with other industries for years and forms part of the most important international initiatives in the fight against climate change and in favor of social development. An example of this is the signing of the United Nations Global Compact’s corporate responsibility initiative and ten principles in the following areas since 2005. human rights, labour, environment and anti-corruption. Likewise, in 2011 Equator Principlesincluding social and environmental criteria in financing large projects and corporate loans.

this Adhering to the United Nations Principles for Responsible BankingOther examples include endorsement of the Collective Commitment to Climate Action, commitment to the Climate Financial Disclosure Task Force (TCFD) to disclose risks and opportunities related to climate change, or signing the Carbon Disclosure Project. her commitment to global climate issues.

Finally, in October of last year it is worth joining the Net-Zero Banking Alliance, an international alliance sponsored by the United Nations Environment Program Financial Initiative (UNEPFI) where the bank takes over all your loan and investment portfolios. Neutral in net greenhouse gas emissions by 2050 As a deadline for the most ambitious goals of the Paris Agreement.

Reducing carbon footprint and own consumption

Banco Sabadell reduces its carbon footprint by 50% compared to 2019. This is an important example that joins others as an important factor in the fight against climate change. By following this trail, 99.9% of the business’ energy consumption comes from renewable sources. And at the same time, compensation for more than 3,600 tonnes of CO2 corresponding to scope 1 and 2 emissions, as well as business trips corresponding to fiscal year 2021, through investment in forestry projects in Spain have been approved. It was approved by the Ministry of Ecological Transition and will enter into force in 2022.

will also follow reduce their consumption (paper, plastic, water are among the most prominent), with 93.7% less plastic consumption compared to 2019 and 42.2% less plastic consumption in the same period.

How is this strategy managed? through Sustainability Department Reporting to the CEO and decision-making bodies such as the Sustainability Committee and the Strategy and Sustainability Commission.