Awards for Excellence 2019
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Having its origins as a social foundation, western Europe’s best bank for corporate responsibility, CaixaBank, has integrated sustainability and social impact into every division in the last two years, from risk management to innovation.
“Our unique model allows us to remain true to our values, giving back to society what society gives to us,” says Gonzalo Gortázar, CaixaBank’s chief executive.
In terms of the environment, CaixaBank has doubled down on its long-term commitments. Some 99.4% of the energy consumed by the bank is from renewable sources. And to offset its CO2 emissions, CaixaBank has reforested 11 hectares of burnt forest in Montserrat in Spain and has collaborated with the installation of 30 wind turbines in India.
Last year, the bank signed an agreement with the European Investment Bank (EIB) to offer a line of credit for €30 million to fund investments in SMEs, individuals and the public sector to promote green business and to incentivize green and environmentally responsible behaviour.
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Gonzalo Gortázar |
To ensure it is having an impact on a micro level, of the 40% of the bank profits that go to la Caixa Foundation, €44 million is budgeted for branch managers to use for local proposals. Staff complement its local volunteering programmes.
The bank and the foundation lead a ‘solidarity crowdfunding’ platform for projects by social institutions. In 2018, 20 projects were financed, with more than €300,000 raised (out of which €194,000 was donated by the foundation).
Financial inclusion is a key theme for the bank. CaixaBank has the most extensive branch network in the country and the bank offers free basic accounts with access to internet banking and ATMs, as well as providing training in budgeting and saving.
CaixaBank has also worked hard to promote women to senior roles. Women represent 53.8% of the bank’s staff in Spain; 39.9% of them hold management positions at the bank.
