Commitment to Sustainability
At Banco Sabadell we continue to move forward in our activity and organisation in order to support and accelerate the important economic and social transformations that contribute to sustainable development and the fight against climate change. Firm in this commitment, we have established our Commitment to Sustainability, a framework for action that ensures the integration into our strategy of a forward-looking vision in relation to environmental, social and governance (ESG) commitments, that aligns our business objectives with the Sustainable Development Goals (SDGs), and that establishes action levers to generate transformation and promotion activities. To do this, we have brought on board all of the Institution’s corporate bodies and we have established four strategic pillars, which we are already working on:
- Commitment to Sustainability 1630.0 KB
- Commitment to Sustainability. Summary 476.0 KB
- Commitment to Sustainability (Animated version) 56163.0 KB
- The journey towards sustainability 131.0 KB
- Framework. Commitment to Sustainability 68.0 KB
- ESG strategy and objectives 60.0 KB
- Objectives 2025 131.0 KB
- Decarbonisation targets 1267.0 KB
Our commitments and objectives
Progress as a Sustainable Institution
As an Institution, we are making progress with the new challenge of sustainability, integrating social, environmental and good governance aspects in our management. The Bank has designed its governance model and organisational structure along these lines.
We are fostering responsible policies and practices among employees to promote the preservation of the environment and the development of a fairer, more respectful society.
Commitments:
1. Be neutral in greenhouse gas (GHG) emissions as an Institution
2. Continue reducing our own consumption
3. Move forward with diversity in the Institution
4. Ensure the recruitment and development of talent, as a leading company with an employee value proposition
5. Align the governance framework to the new sustainability context
6. Maintain active communication with stakeholders
7. Continue to ensure responsible and transparent taxation
8. Have a supply chain with critical suppliers that have undertaken a formal commitment to sustainability
9. Participate in global initiatives and partnerships related to sustainability
Download the chapter to see the progress, objectives and actions of each commitment
Support customers in the transition to a sustainable economy
At Banco Sabadell we support customers in the transition towards a sustainable economy. We provide them with the information, advice, products and services that they need We help customers overcome their challenges, by understanding their situation and aligning it with the regulatory environment, whilst also identifying both the physical and transition risks and their opportunities for transformation.
We advise our customers on the transition, by creating solutions for all segments through products and services specially designed for energy efficiency, renewable energies and mobility.
Commitments:
1. Decarbonise the balance sheet by reducing the carbon footprint of the portfolio
2. Ascertain the sustainability performance level of our business customers
3. Mitigate the impact of climate-related factors on credit risk
4. Raise awareness about the importance of the ecological transition
5. Offer sustainable finance solutions
6. Offer sustainable mobility solutions
7. Promote the energy transition
8. Offer social financing solutions
Download the chapter to see the progress, objectives and actions of each commitment
Offer investment opportunities that contribute to sustainability
We make it easier for investors to contribute to society by promoting sustainable finances and making them an essential part of the strategy and customer service offering.
We expanded ESG investment solutions by issuing bonds linked to the Sustainable Development Goals and we facilitate the placement of sustainability bonds in capital markets.
We contribute to responsible investment by supporting renewable energies, promoting entrepreneurship and boosting the ethical funds and the sustainable investment assets of the leading asset manager in the sector.
Commitments:
1. Issue bonds linked to the Sustainable Development Goals
2. Contribute to the issuance of customers’ sustainability bonds
3. Drive capital investment in renewable energy projects
4. Promote entrepreneurship actions and strengthen participation in ESG impact funds
5. Boost the sustainability fund offer
6. Disclose and report on ESG matters to the market
Download the chapter to see the progress, objectives and actions of each commitment
Work together for a sustainable and cohesive society
At Banco Sabadell, we contribute to the transition towards a more sustainable and cohesive society through ethical and responsible management. We are also committed to data privacy and cybersecurity.
We promote volunteering, education and financial inclusion, as well as charitable activities. We place special focus on supporting customers in vulnerable situations with social housing management initiatives and employability programmes.
Through the Banco Sabadell Foundation, we promote outreach, training and research activities in the fields of education, sciences and culture, and we support young talent to achieve a more prosperous and promising future.
Commitments:
1. Promote education and financial inclusion
2. Support customers in vulnerable situations
3. Encourage corporate volunteering and charitable actions
4. Foster culture and talent by promoting education and research activities through the Banco Sabadell Foundation
5. Ensure the privacy and security of personal data and of transactions
Download the chapter to see the progress, objectives and actions of each commitment
Objectives 2025
Some examples of the progress made in our commitments include:
More information can be found in Commitment to Sustainability (with details of progress, actions and objectives).
Decarbonisation targets
As a member of the of the Collective Commitment to Climate Action (CCCA) and the Net Zero Banking Alliance (NZBA), Banco Sabadell has established targets and support measures to reduce its carbon footprint and, to that end, it has prioritised setting interim targets for the most carbon-intensive sectors, such as Electricity, Oil & Gas, Cement and Coal.
The scope of the activities covered by these targets centres on the stage of the production chain in each sector where transition is most likely to reduce the overall volume of greenhouse gas emissions.
To reinforce its commitment to the decarbonisation of the economy and to the targets of the Paris Agreement and the Net Zero Banking Alliance (NZBA), Banco Sabadell plans to continue setting additional interim targets for other carbon-intensive sectors.
| Sector | Emissions scope | Metric | Base year 2020 | Target 2030 | % Reduction 2020 - 2030 |
|---|---|---|---|---|---|
| Electricity | 1 and 2 | Kg CO2e /MWh | 61 | 85-45 | - |
| Oil and gas | 1, 2 and 3 | Mt CO2e | 6.3 | 4.9 | -23% |
| Cement | 1 and 2 | Kg CO2e /ton. cement | 660 | 510 | -23% |
| Coal | n/a | Million euros (€) | 3 | ~0 | -100% |
Notes about methodology applied:
IEA Net Zero 2050 Reference Scenario. Base year and 2030 targets data are based on the large corporations segment. To determine sectoral commitments based on the reduction of emissions intensity (Electricity and Cement), average emissions intensity has been calculated based on emissions and output attributed according to the amount of financing granted. The commitments have been determined based on the methodology of the Science-Based Targets initiative (SBTi) and the pathway indicated in the reference scenario for the Oil & Gas, Cement and Coal sectors.