Monday, August 8

Banco Sabadell joins the second anniversary of the Principles of Responsible Banking

Banco Sabadell joins the celebration on Wednesday, September 22, on the occasion of the second anniversary of the birth of the Principles of Responsible Banking promoted by the Financial Initiative of the United Nations Environment Program, UNEP (UNEP FI). These bases represent the first global reference framework that defines the role and responsibilities of the financial sector for a sustainable future.

Around 130 banks around the world, including Banco Sabadell, as founding signatory, signed the Responsible Banking Principles in 2019, committing to strategically align the banking business with the Sustainable Development Goals (SDG) and the Paris Climate Agreement. For this, six common principles were established that commit the entities to act in a sustainable manner: Alignment, impact and setting of objectives, clients, stakeholders, governance and culture, and transparency and accountability.

The commitment acquired by the signatory financial entities is to integrate sustainability strategies into their business models in a real and responsible way. This involves a first phase of measuring the environmental and social impact resulting from its commercial activities, to later define, establish and implement the objectives in the aspects with the most significant impact. Thus, through this agreement, member banks are part of the world’s largest global banking community focused on sustainable finance, working and collectively sharing best practices.

In the words of Ana Ribalta, Director of Sustainability at Banco Sabadell: “Through this commitment at Banco Sabadell, together with the rest of the financial institutions that are adhered to, we are assuming a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, generating a positive impact on people and the planet ”.

The six principles in Banco Sabadell’s strategy

Aware that the financial sector is a key player in responding to the demands of society and the planet, Banco Sabadell has positioned its sustainability strategy as one of the central and priority pillars of its business plan in the short term. , medium and long term.

Within the framework of the celebration of the second anniversary of this commitment, Banco Sabadell:

  1. Continue to advance in the alignment of its online strategy to the SDGs, the Paris Climate Agreement, as well as other national and international frameworks, such as adherence to the TCFD (Task Force on Climate-related Financial Disclosures). Along these lines, a bond framework linked to the SDGs has also been created and several issues have been made. In addition, the Sustainable Finance Plan, in force since 2020, has established the goals and actions associated with these alignments and lays down the new organizational foundations, as well as the new risk analysis and management models, incorporating ESG criteria. (Environmental, Social, and Governance) and the fight against climate change.
  2. In relation to the management of impact social and environmental, and goal setting, the bank has established an internal eligibility guide to define sustainable financing activities across the group. In addition, the bank has set group targets that include priority ESG aspects, including emission reduction commitments. Additionally, the alignment of actions with the possible impacts derived from COVID-19 is also reinforced, placing greater focus on the social sphere, which impact both the needs of stakeholders and the bank’s activity.
  3. Regarding the relationship with customers of the bank and the promotion of responsible practices, a Sustainability Policy has been approved, through which the bank establishes a series of principles, with the aim of adapting the organization to the challenges and opportunities derived from sustainability.
  4. Also in the permanent dialogue with his interest groups, Banco Sabadell has identified the needs of its stakeholders and it reflects this in the ESG aspects of its sustainability plan, aligning its main focuses of action in accompanying economic agents, clients and companies in the transition towards a sustainable economy.
  5. Regarding governance, the governance structure has been strengthened with the creation of a Sustainability Directorate led by Ana Ribalta, currently reporting to the CEO, as well as the constitution of the Sustainability Committee as the body that monitors all initiatives in this area. In addition, the Strategy and Sustainability Committee has been set up, a new Executive Committee of the Board of Directors, with the mission of defining, promoting and monitoring the actions and policies related to the sustainability strategy.
  6. Finally, in relation to transparency, the bank reinforces its communication on sustainability with the launch of the “Sustainable Commitment” identification seal that applies to all communication and marketing of services and products with environmental and social content.

In this joint journey and within the framework of the firm commitment to sustainability, Banco Sabadell continues to advance in the Principles of Responsible Banking, adding with its contribution to the sustainable transition and the fight against climate change, at a time when such ambition to address major environmental and social challenges.