• The financial institution has been included in the World’s Most Sustainable Companies 2024 ranking, compiled by the American publication in association with Statista
  • Among the 500 companies featured in the ranking, the Bank positions itself as one of the 25 Spanish companies selected
  • Banco Sabadell has a robust sustainability strategy, reflected in its ESG framework ‘Sabadell’s Commitment to Sustainability’

1 July 2024

Banco Sabadell has been named one of the world’s most sustainable companies according to the World’s Most Sustainable Companies 2024 ranking, compiled by TIME magazine and Statista for the first time. The ranking, which aims to identify global leaders in sustainability and corporate social responsibility, includes 500 organisations from more than 30 countries. In Spain, the Bank ranks as one of the only 25 companies included in the ranking.

The ranking was developed following an initial assessment of over 5,000 companies and evaluated more than 20 key sustainability performance indicators. More specifically, factors such as revenue, market capitalisation, external ratings and sustainability commitments were taken into account. The quality and transparency of ESG reporting was also analysed, alongside a range of environmental and social performance indicators. Following a comprehensive process, an overall sustainability score was calculated, and the 500 highest-scoring companies were selected.

Elena Carrera, General Manager and Director of Sustainability & Efficiency at Banco Sabadell, commented: “We are very proud to be recognised as one of the global leaders in sustainability. Being included among Spain’s 25 most sustainable companies is a testament to our commitment to corporate responsibility and our ongoing efforts to embed ESG practices throughout all our operations. This distinction motivates us to continue innovating and developing initiatives that promote a more sustainable and inclusive future for us all”.

Sabadell’s Commitment to Sustainability

Banco Sabadell has implemented a robust sustainability strategy, reflected in ‘Sabadell’s Commitment to Sustainability’, its ESG framework of action, which sets out more than 60 environmental, social and governance commitments for 2021-2025. The Bank also aligns its business objectives with the Sustainable Development Goals (SDGs) and has established action levers to drive transformation.

With regard to the environment, the financial institution managed to significantly reduce its carbon footprint in Spain, achieving carbon neutrality for its own emissions and outperforming the targets set for 2025 by reducing its carbon footprint by 45.6% since 2019. In addition, the Bank has renewed its offsetting commitment with 7,669 tonnes of CO2 equivalent emissions across Scopes 1, 2 and 3 in Spain, Mexico and United States.

With regard to its business activity and contribution to climate action objectives, the Bank supports its customers through financial advice and financing solutions that promote the decarbonisation of carbon-intensive sectors such as electricity generation, oil and gas, cement, coal, iron and steel, automotive and aviation. It also offers sustainable financing products focused on energy efficiency, renewable energy projects, the circular economy, mobility and the green transition, serving retail customers, SMEs and large enterprises. The Bank has also set a target of mobilising 65 billion euros in sustainable finance solutions over a five-year period and has already channelled over 40 billion.

To contribute to sustainability through investment opportunities, the Institution has participated in the issuance of both its own and customers’ sustainability bonds, raising more than 12.1 billion euros since 2021. It also promotes programmes such as #BStartupGreen to support sustainable entrepreneurship.

Finally, the Institution’s commitment to a more sustainable and cohesive society is reflected not only in its support for financial education and participation in social-impact projects, but also in its commitment to research, talent and environmental development, as exemplified by the Marine Sustainability Award awarded by the Banco Sabadell Foundation.