Western Europe's best bank for CSR 2016: CaixaBank
Awards for Excellence 2016
Like digital innovation, demonstrating a commitment to corporate social responsibility is a relatively recent obligation in banking. So when social involvement has been at the heart of an institution’s identity for more than 100 years, it is hard to take a cynical stance and brand its efforts in the area as little more than a belated effort to manage its public image.
Social involvement at CaixaBank – which wins the award for best bank for corporate social responsibility – goes back its origins as la Caixa in 1904. Then it was a vehicle to promote pensions savings among the poor and insure workers against disability before the existence of a state social safety net. Today it has a steadily rising annual budget of €500 million for initiatives to counter poverty and social exclusion, protect the environment, promote arts and culture and widen access to education. It is one of biggest charitable foundations in the world and by far the biggest in Spain.