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


Banco Sabadell joins the celebration on Wednesday, 22 September, on the occasion of the second anniversary of the birth of the Principles of Responsible Banking promoted by the United Nations Environment Programme Finance Initiative, UNEP (UNEP FI). These principles are 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 a founding signatory, signed the Principles for Responsible Banking in 2019, committing to strategically align the banking business with the Sustainable Development Goals (SDGs) and the Paris Climate Agreement. To this end, six common principles were established that commit the entities to act in a sustainable manner: Alignment, impact and goal setting, customers, stakeholders, governance and culture, and transparency and accountability.

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

In the words of Ana Ribalta, Director of Sustainability at Banco Sabadell: “Through this commitment at Banco Sabadell, along with the rest of the member financial institutions, we are taking a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes needed 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 made its sustainability strategy one of the central and priority pillars of its business plan in the short, medium and long term.

As part of the celebration of the second anniversary of this commitment, Banco Sabadell:

  1. Continues to make progress in aligning its strategy in line with the SDGs, the Paris Climate Agreement, as well as other frameworks of a national and international nature, such as adherence to the TCFD(Task Force on Climate-related Financial Disclosures). In this line, a framework of bonds 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 the new organisational foundations, as well as the new risk analysis and management models, incorporating ESG(Environmental, Social, and Governance) criteria and the fight against climate change.
  2. In relation to the management of social and environmental impact and the setting of targets, the bank has established an internal eligibility guide to define sustainable financing activities throughout the group. In addition, the bank has set group targets that include priority ESG aspects, including emission reduction commitments. In addition, the alignment of actions with the possible impacts derived from COVID-19 has also been strengthened, placing greater focus on the social sphere, which impacts both the needs of stakeholders and the bank’s activity.
  3. With regard to relations with the bank’s customers 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 organisation to the challenges and opportunities arising from sustainability.
  4. Also in the ongoing dialogue with its stakeholders, Banco Sabadell has identified the needs of its stakeholders and has reflected this in the ESG aspects of its sustainability plan, aligning its main focuses of action on accompanying economic agents, customers and companies in the transition towards a sustainable economy.
  5. In terms of governance, the governance structure has been strengthened with the creation of a Sustainability Department headed by Ana Ribalta, currently reporting to the CEO, as well as the creation 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 Delegate Committee of the Board of Directors, with the mission of defining, promoting and monitoring the actions and policies relating to the sustainability strategy.
  6. Lastly, in relation to transparency, the bank is reinforcing its communication in matters of sustainability with the launch of the “Sustainable Commitment” seal of approval, which applies to all communication and marketing of services and products with environmental and social content.

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

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