On International Climate Change Day, we reaffirm our commitment to this vital cause and share the key actions we are taking.
As a financial institution, we play a key role in climate change adaptation and mitigation and in achieving the goals of the Paris Agreement and the 2030 Agenda.
An example of this is the initiatives we are undertaking to advance the decarbonisation of the economy and our collaboration on global climate action commitments to develop common procedures and to promote sustainable practices, such as the Net-Zero Banking Alliance (NZBA), the goal of which is to achieve net zero CO2 emissions in investment and financing portfolios by 2050, the UN Finance Initiative Principles, as a framework to ensure a sustainable future, and the Task Force on Climate-related Financial Disclosures (TCFD), for the disclosure of climate change-related risks and opportunities.
To do so, we have an ESG (Environmental, Social, and Governance) action framework, Sabadell Sustainable Commitment, which is aligned with the SDGs (UN Sustainable Development Goals) and where climate action (SDG 13) is implemented in our strategy, business and systems.
How are we contributing to Climate Action?
Here are some of our initiatives.
1) We are working to become a more sustainable organisation
Since 2005, we have been committed to contracting electricity from renewable sources, making 100% of our consumption come from sustainable sources for years now.
We have reduced our total carbon footprint in Spain by 45.6% compared to 2019, exceeding our original target of 36.1% by between from 2019 to 2025.
We have renewed our commitment to offset our carbon footprint and since 2021 we have been promoting reforestation actions. Further information here.
We are continuing to work towards the net zero carbon footprint of our customers.
2) Supporting customers in the transition towards a sustainable economy
Mobilising €65 billion in sustainable finance solutions in the period 2021-2025, impacting with more than €51 billion cumulatively mobilised up to the first half of 2024.
Offering sustainable finance solutions aimed at energy savings, renewable energy projects, the circular economy, mobility and the environmental transition for private clients, SMEs and large businesses. Learn about our solutions here.
Providing assistance with sectoral advice on the transformation of CO2-intensive sectors, setting decarbonisation commitments for 2030.
Providing assessment and channelling public assistance (NFGEU), lending against grants, topping them up if they do not cover all the investment needed or providing guarantees demanded by government. Learn more here
Providing practical knowledge, sharing experience and giving a voice to companies with their own channels such as #SabadellHubEmpresa, a business connection centre with conferences on ‘Sustainable Business’. Learn about more conferences and activities here.
3) Providing investment opportunities that contribute to sustainability
We invest in technology that helps decarbonisation while fostering capital investment in sustainable and renewable energy projects through Sinia Renovables., our specialist subsidiary with over 25 years’ experience.
We contributed to the issuance of own and customer sustainable bonds, with more than €12.1 billion accumulated over the period 2021-2023
Supporting entrepreneurship programmes such as #BStartupGreen.
4) Working together for a sustainable, cohesive society
Supporting environmental research and development with initiatives such as the Banco Sabadell Foundation Award for Research into Marine Sustainability.
Through Sabadell Seguros with “Insurance with a cause”, linking each of its products to a specific cause, notably environmental conservation and habitat restoration.
