On 22 April, we will participate in World Earth Day, a UN initiative that strives to address challenges such as overpopulation, pollution and biodiversity conservation. The current slogan focuses on “Planet vs. Plastics” to raise awareness of the need to reduce the production of plastics in order to ensure the conservation of ecosystems and, consequently, the well-being of people.
Globally, more than 80% of marine pollution is estimated to be plastic and less than 10% of discarded plastic is properly recycled. What’s more, some studies suggest that plastics make up more than 50% of urban waste. This highlights the need to reduce consumption and promote more sustainable waste management practices.
Given their role as catalysts in providing the necessary financing to respond to these global challenges, financial sector institutions play a key role in achieving these objectives from a number of perspectives:
- Financing sustainable projects and supporting ecosystem conservation and biodiversity goals by funding conservation projects.
- Investing in renewable energy and promoting responsible financial practices.
- Adopting environmental policies in lending and implementing internal sustainability policies.
- Adapting own processes with plastic reduction measures.
- Participating in programmes about environmental education, raising awareness of the importance of conservation and working with NGOs and government agencies on conservation projects.
Some examples of sustainable initiatives developed by Banco Sabadell
- Sustainable financing: We have a sustainable financing framework with activities that support climate change adaptation and mitigation. These include: renewable energy, energy efficiency, sustainable buildings, mobility and transport, circular economy, pollution prevention, water, sanitation and waste, agriculture, digital literacy, dissemination, research and development. To this end, €65 billion has been committed for the period 2021-2025, of which more than €38.6 billion has already been mobilised.
- Sustainable investment through Sinia Renovables and with initiatives such as the 4th edition of BStartup Green – BStartup Banco Sabadell (bancsabadell.com)
- Reduction of carbon footprint Adapting our internal processes. We have already achieved a 45% reduction in our footprint in Spain compared to 2019 (base year).
- Reducing plastic consumption by 95% through initiatives such as the elimination of plastics in certain stationery and/or common use materials.
- Collaborating with reforestation activities (see this link for more information).
- Encouraging the use of digital payment methods, such as virtual cards. And using biodegradable recycled PVC materials to manufacture the physical cards to avoid the generation of plastic.
- Organising dissemination activities on sustainability at Sabadell Hub Empresa.
- Supporting research through initiatives such as our Banco Sabadell Foundation’s Marine Sustainability Award. You can see the most recently awarded project by following this link.
All actions are in line with Sabadell’s Sustainable Commitment strategy, which prioritises climate action (SDG 13).
The health of the planet is closely linked to the well-being of people. Human health, the economy and quality of life are negatively affected by a polluted and degraded environment. Investing in sustainability is therefore not only a moral imperative, but also a necessity to ensure a prosperous future for all. A healthy planet is one where we can live and thrive sustainably.
With its capacity for innovation and technological development, the financial industry can play a key role in coming up with solutions to environmental challenges. Green finance, sustainable bonds and environmental crowdfunding platforms are some examples of how finance can contribute to the transition to a greener and more sustainable economy.
More information on this line of action can be found in our Non-Financial Disclosures Report 2023 and on social networks using the hashtag #SabadellSustainableCommitment.
