Banco Sabadell is positioned as one of the banks with the lowest CO2 emissions and Sustainable Development Goals (SDGs) focused not only on environmental sustainability, but also on the social. To achieve this, it has the Sabadell Sustainable Commitment, an ESG framework that focuses on creating opportunities and creating ESG solutions, minimizing environmental impacts or vulnerability, and focusing on both companies and people.
Struggles
One of Banco Sabadell’s key challenges is finding new technologies and financing formulas to support small and medium-sized companies in the decarbonisation process. Many of these companies are unaware of their current situation and need guidance to effectively reduce their emissions. However What are the measures taken to reduce environmental impact and encourage the transition to a low carbon economy?
Banco Sabadell has identified four main axes in its sustainability strategy:
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To progress as a sustainable asset, implementing actions that can serve as references, e.g. electricity consumption from renewable sources, Making Energy Purchase Agreements and investing in afforestation projects. And with the strengthening of alliances in the social sphere, ESG is important.
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Accompanying customers in the decarbonization processes, expert managers, setting specific targets that aid decarbonizationproviding consultancy and sustainable finance solutions.
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Offer savings and investment opportunities IS Gdistributing a wide range of bonds and sustainable funds and investing in the capital of renewable energy projects and new technologies such as biomethane and hydrogen, building alliances and promoting entrepreneurship.
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Working for a sustainable and cohesive society by supporting financial education and inclusion initiatives, collaborating with volunteers in social impact programs and together with the social management of the residence.
Engage with customers and promote sustainable practices
To involve its customers in the adoption of sustainable practices, Banco Sabadell trains its employees on specific sustainability solutions for each industry. It also organizes seminars, conferences and webinars with its own editions, such as Hub Empresa, and forges alliances with third parties to deliver sustainable solutions to customers. Sustainability training is provided to all employees, and especially managers and analysts receive sectoral training. That’s why, in the words of Elena Carrera Crespo, Banco Sabadell CEO and Director of Sustainability and Efficiency, “Advice to our customers is crucial on this journey to a sustainable future. As of today, Banco Sabadell assesses the impact of its investments and financing using financial and ESG criteria and It follows the sustainability framework with more than 60 targets to be achieved and currently being exceeded.”
Supplier and partner selection criteria
Bank sets sustainability targets for its suppliers, Evaluate ESG strategy on issues such as the environment, human rights and other social issues. The investment volume managed by the bank necessitates this approach in the selection of suppliers and business partners. It monitors the ESG rating of its suppliers, with a commitment to ensure it only works with those who have ratings that align with their objectives, through all data and a platform that manages the rating system.
Recent projects and initiatives
Banco Sabadell has led and participated in various sustainability-related projects and initiatives. Some examples include the creation of special investment products in renewable energy, biomethane and energy producers. Moreover, The Bank has developed entrepreneurship programs and, in collaboration with its Foundation, has presented the Sustainability at Sea Award to Dr. oyhane c. basurkanyoneTo promote and recognize the work of Spanish scientists in the field of sustainable use of resources and replenishment of natural capital.
long-term vision
Banco Sabadell aims to achieve carbon neutrality in all of its operations, including the portfolio funded by 2050, and will continue to publish specific decarbonisation targets. Its long-term vision focuses on accompanying SMEs in their processes. Banco Sabadell’s sustainability strategy, based on investment and private financing in sustainable and renewable solutions, demonstrates a firm commitment to decarbonisation and sustainable development.. By implementing sustainable practices and promoting cleaner technologies, the Bank is at the forefront of sustainability and reinforces its leading role in the transition to a low-carbon economy.
royal commitment
In 2022, Banco Sabadell planted 23,580 trees in collaboration with the CO2 Revolution to restore 20.6 hectares of forest affected by fires in Galicia, offsetting 5,542 tons of CO2.
Banks play a critical role in promoting sustainability and decarbonisation in the global economy. Some of its functions are:
- Financing sustainable projects: They provide loans to projects and initiatives related to renewable energy, energy efficiency, clean transportation and other low-carbon solutions.
- Integration of ESG criteria into investment and financing decisions: They prefer those who adopt sustainable practices by evaluating the performance of the companies they invest or lend to.
- Developing sustainable products and services: such as green bonds, sustainable loans and socially responsible mutual funds.
- Advice and support for clients in their transition to sustainability: They offer advice and support to their clients, both to companies and individuals.
- Commitment to transparency: It discloses information on sustainability and decarbonisation performances, allowing investors, regulators and the public to evaluate and compare their level of commitment.
- Collaboration with other stakeholders: Banks work with governments, regulators, international organizations and other financial industry players to develop and implement policies and regulations that promote sustainability.
- Adoption of internal sustainable practices: Banks can reduce their environmental impact by adopting sustainable practices such as using renewable energy in their operations, reducing CO2 emissions and promoting a corporate culture of environmental responsibility.