"At Banco Sabadell, we have made a firm decision to support our customers in their transition towards a sustainable economy."
Firm commitment to sustainability
Sustainability has become part of Banco Sabadell’s purpose and business strategy. The transformation process carried out in recent years, based on digitalisation and new information technologies, has incorporated the changes entailed by the transition towards a sustainable economy and sustainable development.
Banco Sabadell’s commitment to society dates back to 1881, when the Bank was founded, and is an essential part of its DNA. Banco Sabadell has always conducted its business activities in an ethical and responsible manner in order to ensure a positive impact on people and the environment.
And now, based on the 2015 Paris Agreement and the United Nations Sustainable Development Goals, Banco Sabadell is taking another step forward in this commitment, focusing its activities, its organisation and its processes with the aim of making a solid contribution to sustainability and the fight against climate change.
Sustainability at the heart of Banco Sabadell’s corporate strategy
Banco Sabadell has a long track record of implementing initiatives that ensure its unwavering commitment to its stakeholders and the general public.
Sustainable Finance Plan
The Sustainable Finance Plan incorporates sustainability into the business model, risk management and the Bank’s relationships with its stakeholders.
Approved by the Board of Directors, the Sustainable Finance Plan places the Sustainable Development Goals (SDGs) at the core of the corporate strategy, setting relevant guidelines, as well as programmes and actions in the area of sustainability, aimed at achieving four main objectives.
Integration of the Sustainable Development Goals (SDGs) into the strategy
In keeping with its vision, Banco Sabadell continues to steer its activity, organisation and processes in order to make a firm contribution to sustainability and the fight against climate change. To this end, it aligns its sustainability strategy and business model with frameworks of reference, such as the Sustainable Development Goals (SDGs)1, which it revisits periodically so as to bring itself closer in line with, and expedite its achievement of, the Paris Agreement and the 2030 Agenda.
Although the ability to directly or indirectly influence the contribution of all SDGs is thought to be an important element of the Bank’s corporate purpose, given the nature of its business and its potential to make an impact, the Bank believes that its priority should be to focus on acting in pursuit of the following SDGs:
(1) In 2019, Banco Sabadell adopted the framework of Sustainable Development Goals (SDGs) and identified those that were relevant to the Institution, setting these as priority SDGs, in turn integrating them into its sustainability strategy.
Framework for the issuance of bonds linked to the Sustainable Development Goals
In July 2020, Banco Sabadell launched its framework for the issuance of bonds linked to the SDGs. It identifies sustainable goals that Banco Sabadell is currently promoting, as well as those that it aims to promote in the future.
In line with the voluntary guidelines of the ICMA’s Green Bond Principles (GBP), Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG), this framework defines the priority areas of action and identifies the criteria on the basis of which Banco Sabadell will promote its issuance of green, social and sustainability bonds.
Green bonds will target projects with environmental benefits, such as the reduction of greenhouse gas emissions, pollution prevention and climate change adaptation. The categories in this area prioritise renewable energy, pollution control and prevention, sustainable water management, clean transportation, energy efficiency and green buildings.
Social bonds focus on generating benefits that provide access to essential services, facilitate social inclusion and promote the generation and maintenance of employment.
Sustainability bonds finance a combination of green and social activities.
The Bank has adapted its governance model and organisational structure to focus on sustainability.
In March 2021, the General Shareholders’ Meeting approved the creation of the Strategy and Sustainability Committee, a new Delegated Board Committee with the aim of:
Monitoring the execution of the sustainability strategy.
Reporting regularly to the Board on matters related to the sustainability strategy.
Reviewing the sustainability and environmental policies.