<![CDATA[CaixaBank - Communication]]> https://www.caixabank.com/aplnr/comunicacion/buscador/servicio.noticiasRSS_en.html WordPress <![CDATA[¿Qué carrera estudiar? La vida después de la EVAU]]> https://blog.caixabank.es/?p=23645 2021-06-17T06:17:33.0Z 2021-06-17T06:17:33.0Z <![CDATA[¿Qué carrera estudiar? La vida después de la EVAU]]> 0 <![CDATA[Women make up just 27% of Spanish venture capital teams]]> https://blog.caixabank.es/?p=23645 2021-06-15T00:00:00.0Z 2021-06-15T00:00:00.0Z <![CDATA[Women make up just 27% of Spanish venture capital teams]]> Private capital investments in Spain reached a record volume in 2020, totalling €6.27 billion, a growth of 33% of the volume reached in 2019. However, in this booming sector, diversity does not move at the same pace: while many of the jobs that are not directly related to investment (administrative tasks, investor relations and platform) are held by women, gender parity is not the norm in the investment teams.

This is one of the findings of the first study that analyses diversity in Spanish investing firms, especially in venture capital. It was prepared by the international non-profit association Diversity VC, which is supported by CaixaBank through DayOne, its division specialising in technology and innovation companies and its investors. It is also backed by Osborne Clarke.

As part of the study, information  from 86 firms in Spain's investing ecosystem was analysed, including 58 venture capital firms, 11 corporate venture capital companies and a further 17 businesses, including venture builders, crowdfunding platforms and guarantee funds. This first report analyses the diversity of investment teams from different perspectives in order to establish a baseline. 

Diversity in Spanish venture capital

In Spain, more than half of all venture capital companies are made up of a maximum of 9 workers. These companies usually employ a small number of people (an average of 11 per company),that range from 2 to 53 people. The partners generally account for 36% of the staff, a similar percentage to that of the investment team, which accounts for 32.8%. 

The main industries in which these venture capital funds invest are Information and Communication Technologies (74%), Biotechnology (14%), Social Impact (2%) and Energy, Industry and Construction.

In decision-making positions, only 12% of general members of venture capital firms are held by women, while in corporate venture capital, this percentage rises to 25%. Furthermore, as the study shows, only 12.4% of partners are women, and if the entire staff is considered (including partners, investment team, operations and back office team), women make up 27%.

The sectors with the highest number of women in decision-making positions (partners or directors) are Social Impact (31.6%) and Biotechnology (24.4%). If  the percentage of women in all the teams across the different sectors is considered as a whole, the figures improve, although gender equality has not yet been achieved in any investment sector. 

Level of education and experience in the investment sector

If we analyse the level of education in the sector, 63.33% have a master's or graduate degree, and 26% have an undergraduate degree. If we look at the gender, the level of studies is very similar: 26% of men have at most an undergraduate degree, a percentage similar to that of women (25.4%). Meanwhile, 64.4% of men and 62.7% of women have a graduate degree. As for PhD degrees, the proportion of men with this qualification is higher.

In terms of experience, 38.7% have fewer than 2 years, and 24% have been working in the venture capital sector for more than 8 years. The study makes it clear that there are more professionals at either extreme, which can be positive since new hires can learn from veteran employees.

Venture capital is one of the main sources of financing for start-ups in their initial stages, when they are still growing and have already used other sources of financing, such as internal savings, funds from friends and family or business angels. Venture capital firms invest a certain amount in start-ups in exchange for a minority stake in the company.   

By type of operation, most involve the venture capital segment, with a volume of €833 million in a total of 672 investments. This record is partly due to the large number of investments in excess of €10 million (13 in 2020 compared to 8 in 2019), which helped finance the large rounds led by international funds, coinvesting with national funds.

Most of the sector's constituents had been entrepreneurs before stepping into the industry. Their professional backgrounds are diverse; for example, 18% were previously consultants. 

About Diversity VC 

Diversity VC is a non-profit association that promotes diversity in venture capital. Originally from the United Kingdom, it was created in 2017 by professionals from renowned Venture Capital funds. It currently operates in the United Kingdom and the United States, and has been active in Latin America and Spain since late 2020.

Its activity is focused on preparing reports, providing training, and promoting diversity and inclusion standards in the sector. Its goal is to make the VC community more diverse and inclusive through intellectual leadership and practical tools.

Diversity VC works to ensure that all the world's venture capital funds have the knowledge, tools and resources to promote diversity and inclusion in their companies and in the companies they finance. 

About CaixaBank DayOne 

One of CaixaBank DayOne's initiatives in the area of knowledge and the VC ecosystem has been the launch of the DayOne Observatory. This initiative arose from the Entrepreneurship XXI Awards in an effort to analyse and disseminate information on the situation of the sector, as well as the needs and trends related to the entrepreneurial ecosystem in Spain and Portugal, with a focus on DayOne's three customer types: start-ups, scale-ups and investors.

CaixaBank is the leading financial group in Spain and one of the largest in Portugal, where it controls 100% of BPI. The bank, chaired by Vizcaya-native José Ignacio Goirigolzarri and headed by Gonzalo Gortázar, has around 21 million customers in the Iberian market, and the largest commercial network in the peninsula, with c. 6,300 branches and c. 15,400 ATMs, and is the leader in digital banking with 10 million digital customers.

CaixaBank is committed to a socially-responsible model of universal banking that is based on quality, close relationships and specialisation, with products and services that are tailored to each sector. Its mission is to contribute to its customers' financial well-being while supporting the progress of the communities where it operates.

About Osborne Clarke

Osborne Clarke is a future focused international legal practice with over 270 Partners and more than 925 talented lawyers working across 25 global locations. We help our clients successfully tackle the issues they’re facing today and tomorrow by supporting them with a three-dimensional approach that combines outstanding legal expertise, in-depth sector knowledge and transformational insight. It reflects global drivers of change that are having the biggest impact on our clients' businesses: decarbonisationdigitalisation and urban dynamics. Our legal advice is also underpinned by shared technology, delivered by our digital innovations team: Osborne Clarke Solutions.

We are widely recognised for our award-winning culture that's committed to being an environmentally friendly and well-governed firm, which embraces diversity in all its forms.

Our core sectors include: Energy and Utilities; Financial Services; Life Sciences and Healthcare; Real Estate and InfrastructureRetail and ConsumerTech, Media and Comms; Transport and Automotive and Workforce Solutions.

Osborne Clarke is the business name for an international legal practice and its associated businesses.

]]>
Private capital investments in Spain reached a record volume in 2020, totalling €6.27 billion, a growth of 33% of the volume reached in 2019. However, in this booming sector, diversity does not move at the same pace: while many of the jobs that are not directly related to investment (administrative tasks, investor relations and platform) are held by women, gender parity is not the norm in the investment teams.

This is one of the findings of the first study that analyses diversity in Spanish investing firms, especially in venture capital. It was prepared by the international non-profit association Diversity VC, which is supported by CaixaBank through DayOne, its division specialising in technology and innovation companies and its investors. It is also backed by Osborne Clarke.

As part of the study, information  from 86 firms in Spain's investing ecosystem was analysed, including 58 venture capital firms, 11 corporate venture capital companies and a further 17 businesses, including venture builders, crowdfunding platforms and guarantee funds. This first report analyses the diversity of investment teams from different perspectives in order to establish a baseline. 

Diversity in Spanish venture capital

In Spain, more than half of all venture capital companies are made up of a maximum of 9 workers. These companies usually employ a small number of people (an average of 11 per company),that range from 2 to 53 people. The partners generally account for 36% of the staff, a similar percentage to that of the investment team, which accounts for 32.8%. 

The main industries in which these venture capital funds invest are Information and Communication Technologies (74%), Biotechnology (14%), Social Impact (2%) and Energy, Industry and Construction.

In decision-making positions, only 12% of general members of venture capital firms are held by women, while in corporate venture capital, this percentage rises to 25%. Furthermore, as the study shows, only 12.4% of partners are women, and if the entire staff is considered (including partners, investment team, operations and back office team), women make up 27%.

The sectors with the highest number of women in decision-making positions (partners or directors) are Social Impact (31.6%) and Biotechnology (24.4%). If  the percentage of women in all the teams across the different sectors is considered as a whole, the figures improve, although gender equality has not yet been achieved in any investment sector. 

Level of education and experience in the investment sector

If we analyse the level of education in the sector, 63.33% have a master's or graduate degree, and 26% have an undergraduate degree. If we look at the gender, the level of studies is very similar: 26% of men have at most an undergraduate degree, a percentage similar to that of women (25.4%). Meanwhile, 64.4% of men and 62.7% of women have a graduate degree. As for PhD degrees, the proportion of men with this qualification is higher.

In terms of experience, 38.7% have fewer than 2 years, and 24% have been working in the venture capital sector for more than 8 years. The study makes it clear that there are more professionals at either extreme, which can be positive since new hires can learn from veteran employees.

Venture capital is one of the main sources of financing for start-ups in their initial stages, when they are still growing and have already used other sources of financing, such as internal savings, funds from friends and family or business angels. Venture capital firms invest a certain amount in start-ups in exchange for a minority stake in the company.   

By type of operation, most involve the venture capital segment, with a volume of €833 million in a total of 672 investments. This record is partly due to the large number of investments in excess of €10 million (13 in 2020 compared to 8 in 2019), which helped finance the large rounds led by international funds, coinvesting with national funds.

Most of the sector's constituents had been entrepreneurs before stepping into the industry. Their professional backgrounds are diverse; for example, 18% were previously consultants. 

About Diversity VC 

Diversity VC is a non-profit association that promotes diversity in venture capital. Originally from the United Kingdom, it was created in 2017 by professionals from renowned Venture Capital funds. It currently operates in the United Kingdom and the United States, and has been active in Latin America and Spain since late 2020.

Its activity is focused on preparing reports, providing training, and promoting diversity and inclusion standards in the sector. Its goal is to make the VC community more diverse and inclusive through intellectual leadership and practical tools.

Diversity VC works to ensure that all the world's venture capital funds have the knowledge, tools and resources to promote diversity and inclusion in their companies and in the companies they finance. 

About CaixaBank DayOne 

One of CaixaBank DayOne's initiatives in the area of knowledge and the VC ecosystem has been the launch of the DayOne Observatory. This initiative arose from the Entrepreneurship XXI Awards in an effort to analyse and disseminate information on the situation of the sector, as well as the needs and trends related to the entrepreneurial ecosystem in Spain and Portugal, with a focus on DayOne's three customer types: start-ups, scale-ups and investors.

CaixaBank is the leading financial group in Spain and one of the largest in Portugal, where it controls 100% of BPI. The bank, chaired by Vizcaya-native José Ignacio Goirigolzarri and headed by Gonzalo Gortázar, has around 21 million customers in the Iberian market, and the largest commercial network in the peninsula, with c. 6,300 branches and c. 15,400 ATMs, and is the leader in digital banking with 10 million digital customers.

CaixaBank is committed to a socially-responsible model of universal banking that is based on quality, close relationships and specialisation, with products and services that are tailored to each sector. Its mission is to contribute to its customers' financial well-being while supporting the progress of the communities where it operates.

About Osborne Clarke

Osborne Clarke is a future focused international legal practice with over 270 Partners and more than 925 talented lawyers working across 25 global locations. We help our clients successfully tackle the issues they’re facing today and tomorrow by supporting them with a three-dimensional approach that combines outstanding legal expertise, in-depth sector knowledge and transformational insight. It reflects global drivers of change that are having the biggest impact on our clients' businesses: decarbonisationdigitalisation and urban dynamics. Our legal advice is also underpinned by shared technology, delivered by our digital innovations team: Osborne Clarke Solutions.

We are widely recognised for our award-winning culture that's committed to being an environmentally friendly and well-governed firm, which embraces diversity in all its forms.

Our core sectors include: Energy and Utilities; Financial Services; Life Sciences and Healthcare; Real Estate and InfrastructureRetail and ConsumerTech, Media and Comms; Transport and Automotive and Workforce Solutions.

Osborne Clarke is the business name for an international legal practice and its associated businesses.

]]>
0
<![CDATA[CaixaBank drives impact investing with a strategic partnership with BlackRock]]> https://blog.caixabank.es/?p=23645 2021-06-14T00:00:00.0Z 2021-06-14T00:00:00.0Z <![CDATA[CaixaBank drives impact investing with a strategic partnership with BlackRock]]> CaixaBank is seeking to be the most committed Spanish bank in implementing impact investing, adapted to the new EU Sustainable Finance Disclosure Regulation (SFDR). The bank will soon launch a range of sustainable investment funds and pension plans listed in the highest rank (article 9) of European regulations. This regulation is an important exercise in transparency in order to ensure that products presented as being sustainable have the necessary characteristics for such a designation. “As with many other regulatory changes, we want to take the lead and not only propose regulatory compliance, but be a transcendent agent of the asset management industry as a player committed to sustainability and its transformative impact”, says Víctor Allende, director of CaixaBank Private Banking.

With this goal in mind, CaixaBank Group has signed a strategic partnership with BlackRock, which has had a presence in Spain since 1994 and is the world’s leading asset management firm by volume of assets and one of the most committed to investment with sustainable criteria in recent years. This partnership applies to impact investment for the equity strategy, although the same philosophy will apply to all CaixaBank's impact investing. BlackRock’s Fundamental Equity Impact team will provide consultancy on impact investing in equity investment portfolios due to its differentiated methodology in selecting companies that have a true impact on society and the planet. 

“At CaixaBank, we are committed to driving a change in society through unique and sustainable financial advice, offering our customers products that positively and measurably impact people and the planet and allow them to create a better world in the long term without compromising profitability", adds Javier Valle, Insurance director of CaixaBank.

“Impact investment has become one of the key drivers of the industry’s transformation towards more sustainable models. We are very proud of this strategic partnership with CaixaBank, which will allow investors to generate a benefit for both the society and the environment, and because it is part of BlackRock’s firm commitment to making sustainability our investment standard and to building bridges of collaboration with industry firms that share this purpose”, points out Aitor Jauregui, BlackRock’s Country Head for Spain, Portugal and Andorra.

Sustainable Finances certification guaranteed by AENOR

CaixaBank Group has become the first bank in Spain to receive the Sustainable Finances Certification under ESG (Environmental, Social and Governance) criteria from AENOR. This new certification endorses the work and efforts undertaken by the Group's two management firms, CaixaBank AM and VidaCaixa, to integrate these criteria into the investment decision-making processes, as well as how these processes have afforded CaixaBank the necessary levers for improvement in the control and monitoring of management in this area.

This certification, promoted by CaixaBank and created in line with AENOR's new "Regulation for the certification of investment processes under ESG criteria for financial asset management entities", is the first on the market to endorse the entire investment process under ESG criteria. It is intended to become a recognised industry standard in order to promote sustainable finances and the standardisation of assessment criteria by all stakeholders. 

BlackRock

BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives, making investing easier and more affordable.

Sustainable investment in BlackRock

BlackRock is committed to helping its clients build resilient and well-constructed portfolios that are critical to achieving their long-term goals. Because sustainable investment options have the potential to offer clients better outcomes, BlackRock is making sustainability integral to the way it manages risk, builds portfolios, designs products and engages with companies.

BlackRock Fundamental Equities (FE) is committed to applying Expert Insight to power portfolios. FE are long-term investors who apply deep research, expert insight, and global reach to identify those companies that we believe can create sustainable wealth for shareholders, employees, and communities.

]]>
CaixaBank is seeking to be the most committed Spanish bank in implementing impact investing, adapted to the new EU Sustainable Finance Disclosure Regulation (SFDR). The bank will soon launch a range of sustainable investment funds and pension plans listed in the highest rank (article 9) of European regulations. This regulation is an important exercise in transparency in order to ensure that products presented as being sustainable have the necessary characteristics for such a designation. “As with many other regulatory changes, we want to take the lead and not only propose regulatory compliance, but be a transcendent agent of the asset management industry as a player committed to sustainability and its transformative impact”, says Víctor Allende, director of CaixaBank Private Banking.

With this goal in mind, CaixaBank Group has signed a strategic partnership with BlackRock, which has had a presence in Spain since 1994 and is the world’s leading asset management firm by volume of assets and one of the most committed to investment with sustainable criteria in recent years. This partnership applies to impact investment for the equity strategy, although the same philosophy will apply to all CaixaBank's impact investing. BlackRock’s Fundamental Equity Impact team will provide consultancy on impact investing in equity investment portfolios due to its differentiated methodology in selecting companies that have a true impact on society and the planet. 

“At CaixaBank, we are committed to driving a change in society through unique and sustainable financial advice, offering our customers products that positively and measurably impact people and the planet and allow them to create a better world in the long term without compromising profitability", adds Javier Valle, Insurance director of CaixaBank.

“Impact investment has become one of the key drivers of the industry’s transformation towards more sustainable models. We are very proud of this strategic partnership with CaixaBank, which will allow investors to generate a benefit for both the society and the environment, and because it is part of BlackRock’s firm commitment to making sustainability our investment standard and to building bridges of collaboration with industry firms that share this purpose”, points out Aitor Jauregui, BlackRock’s Country Head for Spain, Portugal and Andorra.

Sustainable Finances certification guaranteed by AENOR

CaixaBank Group has become the first bank in Spain to receive the Sustainable Finances Certification under ESG (Environmental, Social and Governance) criteria from AENOR. This new certification endorses the work and efforts undertaken by the Group's two management firms, CaixaBank AM and VidaCaixa, to integrate these criteria into the investment decision-making processes, as well as how these processes have afforded CaixaBank the necessary levers for improvement in the control and monitoring of management in this area.

This certification, promoted by CaixaBank and created in line with AENOR's new "Regulation for the certification of investment processes under ESG criteria for financial asset management entities", is the first on the market to endorse the entire investment process under ESG criteria. It is intended to become a recognised industry standard in order to promote sustainable finances and the standardisation of assessment criteria by all stakeholders. 

BlackRock

BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives, making investing easier and more affordable.

Sustainable investment in BlackRock

BlackRock is committed to helping its clients build resilient and well-constructed portfolios that are critical to achieving their long-term goals. Because sustainable investment options have the potential to offer clients better outcomes, BlackRock is making sustainability integral to the way it manages risk, builds portfolios, designs products and engages with companies.

BlackRock Fundamental Equities (FE) is committed to applying Expert Insight to power portfolios. FE are long-term investors who apply deep research, expert insight, and global reach to identify those companies that we believe can create sustainable wealth for shareholders, employees, and communities.

]]>
0
<![CDATA[Applus+ and CaixaBank sign a €100 million sustainability financing debt facility]]> https://blog.caixabank.es/?p=23645 2021-06-10T00:00:00.0Z 2021-06-10T00:00:00.0Z <![CDATA[Applus+ and CaixaBank sign a €100 million sustainability financing debt facility]]> The Applus+ Group and CaixaBank have signed a 2-year sustainability-linked loan agreement totalling €100 million, with an option to extend for an additional year. The transaction refinances a maturing debt facility and is a first for the Applus+ Group.

The loan agreement links the interest rate margin to an annual CO2 emissions reduction target, encouraging Applus+ to reduce them by at least 17% by 2023.

The conditions of the line of credit granted by CaixaBank are improved if the Applus+ Group meets its CO2 emission-reduction targets. This demonstrates the commitment of the Applus+ Group to environmentally-friendly initiatives and projects, which contribute to preventing, mitigating and responding to climate change.

The transaction has been externally reviewed by KPMG, who have evaluated the emissions reduction targets and its alignment with the Loan Market Association's Sustainability-linked Loan Principles 2019.

For CaixaBank, the operation represents further support provided to companies committed to sustainability and innovation with sustainable-financing solutions.

About APPLUS+

Applus+ is one of the world’s leaders in testing, inspection and certification (TIC). We are a trusted partner, recognised in the market for assisting clients to enhance the quality and safety of their assets, infrastructures and operations.

The company offers a broad portfolio of solutions and maintains a strong commitment to technological development, digitisation, innovation, and the constant updating of its knowledge of legislated standards and regulatory requirements.

The Group is committed to improving its ESG indicators. Applus+ assists its clients to reduce their environmental impact by improving the safety and sustainability of their products and assets.

The Group has been implementing measures to reduce its own environmental footprint and improve its social and corporate governance initiatives since 2014, setting specific targets for 2021. These actions have earned external recognition: an above-average "AA" rating from MSCI ESG Ratings; an above-average "B" rating from CDP; and the inclusion of Applus+ in the FTSE4Good Index Series of the Ibex.

CaixaBank: committed to sustainability

CaixaBank is one of the financial institutions most committed to sustainability, based on its Socially Responsible Banking Plan which includes five specific principles of action that make a direct contribution to the United Nations’ Sustainable Development Goals (SDGs).

Through its activities, the bank supports environmentally-friendly initiatives and projects that contribute to preventing and mitigating climate change, and promoting the transition to a low-carbon economy and social development.

The bank has mobilised more than €12,000 million in sustainable financing in 2020, with more than €2,000 million formalised in green financing and more than €3,000 million formalised in financing linked to ESG variables, where the objectives on environmental variables, such as the reduction of emissions or energy efficiency, stand out.

CaixaBank has also participated in the issuance of 13 green, sustainable or social bonds, with a value totalling €7,500 million. At the end of 2020, CaixaBank was ranked fifth in Europe and ninth worldwide for providing green and sustainable loans in the Top Tier League Tables by volume, according to Refinitiv, a financial-market data provider.

By March 2021, CaixaBank had issued six bonds in support of the United Nations’ SDGs, and it has the highest volume of ESG credit issues in euros for all European banks: three green bonds and three social bonds, for a total value of €6,000 million.

 

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The Applus+ Group and CaixaBank have signed a 2-year sustainability-linked loan agreement totalling €100 million, with an option to extend for an additional year. The transaction refinances a maturing debt facility and is a first for the Applus+ Group.

The loan agreement links the interest rate margin to an annual CO2 emissions reduction target, encouraging Applus+ to reduce them by at least 17% by 2023.

The conditions of the line of credit granted by CaixaBank are improved if the Applus+ Group meets its CO2 emission-reduction targets. This demonstrates the commitment of the Applus+ Group to environmentally-friendly initiatives and projects, which contribute to preventing, mitigating and responding to climate change.

The transaction has been externally reviewed by KPMG, who have evaluated the emissions reduction targets and its alignment with the Loan Market Association's Sustainability-linked Loan Principles 2019.

For CaixaBank, the operation represents further support provided to companies committed to sustainability and innovation with sustainable-financing solutions.

About APPLUS+

Applus+ is one of the world’s leaders in testing, inspection and certification (TIC). We are a trusted partner, recognised in the market for assisting clients to enhance the quality and safety of their assets, infrastructures and operations.

The company offers a broad portfolio of solutions and maintains a strong commitment to technological development, digitisation, innovation, and the constant updating of its knowledge of legislated standards and regulatory requirements.

The Group is committed to improving its ESG indicators. Applus+ assists its clients to reduce their environmental impact by improving the safety and sustainability of their products and assets.

The Group has been implementing measures to reduce its own environmental footprint and improve its social and corporate governance initiatives since 2014, setting specific targets for 2021. These actions have earned external recognition: an above-average "AA" rating from MSCI ESG Ratings; an above-average "B" rating from CDP; and the inclusion of Applus+ in the FTSE4Good Index Series of the Ibex.

CaixaBank: committed to sustainability

CaixaBank is one of the financial institutions most committed to sustainability, based on its Socially Responsible Banking Plan which includes five specific principles of action that make a direct contribution to the United Nations’ Sustainable Development Goals (SDGs).

Through its activities, the bank supports environmentally-friendly initiatives and projects that contribute to preventing and mitigating climate change, and promoting the transition to a low-carbon economy and social development.

The bank has mobilised more than €12,000 million in sustainable financing in 2020, with more than €2,000 million formalised in green financing and more than €3,000 million formalised in financing linked to ESG variables, where the objectives on environmental variables, such as the reduction of emissions or energy efficiency, stand out.

CaixaBank has also participated in the issuance of 13 green, sustainable or social bonds, with a value totalling €7,500 million. At the end of 2020, CaixaBank was ranked fifth in Europe and ninth worldwide for providing green and sustainable loans in the Top Tier League Tables by volume, according to Refinitiv, a financial-market data provider.

By March 2021, CaixaBank had issued six bonds in support of the United Nations’ SDGs, and it has the highest volume of ESG credit issues in euros for all European banks: three green bonds and three social bonds, for a total value of €6,000 million.

 

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<![CDATA[Atresmedia is Spain’s first media company to arrange sustainable financing.]]> https://blog.caixabank.es/?p=23645 2021-06-03T00:00:00.0Z 2021-06-03T00:00:00.0Z <![CDATA[Atresmedia is Spain’s first media company to arrange sustainable financing.]]> Yesterday Atresmedia completed the refinancing of its €250 million corporate syndicated loan, converting it into a green facility. It is the first sustainable financing transaction closed by a media group in Spain and one of the first in the sector in Europe.

This pioneering transaction evidences Atresmedia’s firm commitment to ESG management as the spread on the facility is tied to the social and environmental impacts of its business activities.

Atresmedia, Spain’s leading communication group, is the only audiovisual company meaningfully positioned all along the value chain - television, radio, internet, cinema, production for third parties and training - to have benchmarked its borrowing spread against its performance along three indicators to be revised annually: advertising space provided free of charge to non-profit organisations; television content accessibility via subtitles; and its score in the climate change report issued by the Carbon Disclosure Project (CDP), the world leader in the measurement, management and reporting of businesses’ efforts to stem global warming.

External consultant EY has provided an assurance report over the selected KPIs, confirming that the transaction is aligned with the Sustainability Linked Loan Principles 2019 on which transactions of this nature are based.

The loan was arranged by CaixaBank, BBVA and Santander, who acted as joint sustainability coordinators, while CaixaBank acted as agent, a role that involves administrative and account-related work and verification of the sustainability targets set.

Cuatrecasas acted Atresmedia’s legal counsel, while the banks were advised by Clifford Chance. 

Atresmedia

Atresmedia reaches out to millions of people every day through its television channels, radio broadcasters and digital platforms. Aware of the social responsibility implied by that level of influence, the Group has embedded environmental, social and governance (ESG) criteria at all levels of the organisation, framed its corporate responsibility strategy, under which, for over a decade now, it has been putting its most valuable asset and core business to work for society - its news, entertainment and advertising content - in order to create visibility and raise awareness about issues of concern to Spanish citizens, so helping to drive positive change.

Moreover, Atresmedia has committed, along with thousands of companies all around the world, to help deliver the United Nations Sustainable Development Goals (SDGs) and 2030 Agenda for shaping a global society that is more prosperous for everyone.

]]>
Yesterday Atresmedia completed the refinancing of its €250 million corporate syndicated loan, converting it into a green facility. It is the first sustainable financing transaction closed by a media group in Spain and one of the first in the sector in Europe.

This pioneering transaction evidences Atresmedia’s firm commitment to ESG management as the spread on the facility is tied to the social and environmental impacts of its business activities.

Atresmedia, Spain’s leading communication group, is the only audiovisual company meaningfully positioned all along the value chain - television, radio, internet, cinema, production for third parties and training - to have benchmarked its borrowing spread against its performance along three indicators to be revised annually: advertising space provided free of charge to non-profit organisations; television content accessibility via subtitles; and its score in the climate change report issued by the Carbon Disclosure Project (CDP), the world leader in the measurement, management and reporting of businesses’ efforts to stem global warming.

External consultant EY has provided an assurance report over the selected KPIs, confirming that the transaction is aligned with the Sustainability Linked Loan Principles 2019 on which transactions of this nature are based.

The loan was arranged by CaixaBank, BBVA and Santander, who acted as joint sustainability coordinators, while CaixaBank acted as agent, a role that involves administrative and account-related work and verification of the sustainability targets set.

Cuatrecasas acted Atresmedia’s legal counsel, while the banks were advised by Clifford Chance. 

Atresmedia

Atresmedia reaches out to millions of people every day through its television channels, radio broadcasters and digital platforms. Aware of the social responsibility implied by that level of influence, the Group has embedded environmental, social and governance (ESG) criteria at all levels of the organisation, framed its corporate responsibility strategy, under which, for over a decade now, it has been putting its most valuable asset and core business to work for society - its news, entertainment and advertising content - in order to create visibility and raise awareness about issues of concern to Spanish citizens, so helping to drive positive change.

Moreover, Atresmedia has committed, along with thousands of companies all around the world, to help deliver the United Nations Sustainable Development Goals (SDGs) and 2030 Agenda for shaping a global society that is more prosperous for everyone.

]]>
0
<![CDATA[CaixaBank Group, the first bank in Spain to receive the AENOR Sustainable Finances certification for asset management]]> https://blog.caixabank.es/?p=23645 2021-06-02T00:00:00.0Z 2021-06-02T00:00:00.0Z <![CDATA[CaixaBank Group, the first bank in Spain to receive the AENOR Sustainable Finances certification for asset management]]> CaixaBank Group, via VidaCaixa and CaixaBank Asset Management, has become the first bank in Spain to receive the Sustainable Finances Certification under ESG criteria (Environmental, Social and Governance) from AENOR. This new certification endorses the work and efforts undertaken by the Group's two management firms to integrate these criteria into the investment decision-making processes, as well as how these processes have afforded CaixaBank the necessary levers for improvement in the control and monitoring of management in this area.

This certification, promoted by CaixaBank and created in line with AENOR's new "Regulation for the certification of investment processes under ESG criteria for financial asset management entities", is the first on the market to endorse the entire investment process under ESG criteria. It is intended to become a recognised industry standard in order to promote sustainable finances and the standardisation of assessment criteria by all stakeholders.  

A rigorous assessment process

AENOR has awarded this recognition to CaixaBank following an exhaustive external audit and evaluation process to assess the Group's investment management processes. This involved almost all the teams within the management firms working transversally by subject area, from the general secretary and human resources, to compliance, SRI, risks, communication and marketing, quality and systems, among others.

The leading certification institution in Spain assessed, among other aspects, the various approaches to the incorporation of ESG criteria, and the main features of this process by asset class. Among the different significant aspects, AENOR highlighted the sensitivity and commitment of the management firms after years of analysing SRI criteria; the focus on transparency and responsibility in the Strategic Plan; the extensive development of ESG policies and regulatory analysis; the training efforts of managers; the adaptation and organisational adjustment of teams and governing bodies, and governance with monitoring of ESG matters; and an internal control management model based on three lines of defence.

With the new certification, CaixaBank highlights the efforts undertaken by the group in the integration of ESG criteria in investments, establishing a series of requirements and criteria to comprehensively integrate sustainability factors in investment analysis and decision-making processes for the construction of portfolios, as well in the advisory, design and management of products.

In addition, the certification guarantees transparency in the ESG investment process for customers and different stakeholders, and reinforces these processes, with an external audit and validation, by identifying the necessary levers for improvement in the control and monitoring of management in this area. The certification also enables the management teams to deepen their knowledge of the environment in which companies operate and identify potential risks they face. 

Committed to responsible investment

In line with its socially responsible banking model, CaixaBank is committed to sustainable investment, understood as investment that not only offers financial returns for investors, but also promotes management that is coherent with the creation of value for the whole of society, pursuing a social and environmental impact.

In 2020, there was a 176% increase in average balances of Private Banking customers held in socially responsible investment (SRI) funds.

In 2009, VidaCaixa became the first life insurer and pension fund manager in Spain to join the PRI initiative, an international network of investors working together to enact the six Principles for Responsible Investment, backed by the United Nations. Today, the company analyses 100% of its assets under management (96,467 million euros at year-end 2020) on the basis of sustainability criteria. In addition, in 2020, it became a signatory to the Principles for Sustainable Insurance (PSI), created by the UNEP FI.

Furthermore, CaixaBank AM has also adhered to the PRI since 2016, integrating into management the social, environmental and good governance aspects established by the United Nations with 88.2% of assets in Spanish funds managed under sustainability criteria.

About VidaCaixa

VidaCaixa, CaixaBank Group's pension fund manager, is the leading company in the Spanish insurance sector in terms of managed assets in life insurance and pensions funds, with 96,467 million euros in assets under management, and market shares at year-end 2020 of 29.3% in life insurance (28.1% in 2019) and 26.3% in pension plans (25.5% in 2019). With the incorporation of Bankia's assets following the merger, CaixaBank reinforces these shares, increasing them to 32.3% in life insurance provisions and 33.5% in pension plans, as at the end of March 2021.

About CaixaBank Asset Management

CaixaBank AM, CaixaBank Group's investment fund, UCITS and discretionary portfolio management firm, with a total of 53,336 million euros in assets under management at year-end 2020, is the leading management firm in Spain with a market share in investment funds of 17.50% as at March 2021 (17.07% in 2019). Discretionary portfolio management represents 57% of the assets under management, with 32,200 million euros as at the end of March 2021. With the incorporation of Bankia's assets following the merger, CaixaBank’s market share in mutual funds grows to 24.9% (end of March 2021).

Currently, CaixaBank AM operates in five locations: Madrid, Barcelona, Lisbon, Porto and Luxembourg, meaning it offers investment funds in different territories providing solutions to investors' needs.

About AENOR

AENOR is a professional services company that identifies and helps to remedy the shortcomings in the competitiveness of companies, sectors and the economic fabric in general. It contributes to the transformation of society by building trust between organisations and people through the assessment of conformity (certification, inspection and tests), training and information.

AENOR is the leading certification company in Spain, and it operates in 90 countries. More than 80,000 centres of work worldwide have an AENOR certification in areas such as Quality Management Sustainability, Non-Financial Information Verification, Animal Welfare, Occupational Health and Safety, Digitalisation and Compliance.

]]>
CaixaBank Group, via VidaCaixa and CaixaBank Asset Management, has become the first bank in Spain to receive the Sustainable Finances Certification under ESG criteria (Environmental, Social and Governance) from AENOR. This new certification endorses the work and efforts undertaken by the Group's two management firms to integrate these criteria into the investment decision-making processes, as well as how these processes have afforded CaixaBank the necessary levers for improvement in the control and monitoring of management in this area.

This certification, promoted by CaixaBank and created in line with AENOR's new "Regulation for the certification of investment processes under ESG criteria for financial asset management entities", is the first on the market to endorse the entire investment process under ESG criteria. It is intended to become a recognised industry standard in order to promote sustainable finances and the standardisation of assessment criteria by all stakeholders.  

A rigorous assessment process

AENOR has awarded this recognition to CaixaBank following an exhaustive external audit and evaluation process to assess the Group's investment management processes. This involved almost all the teams within the management firms working transversally by subject area, from the general secretary and human resources, to compliance, SRI, risks, communication and marketing, quality and systems, among others.

The leading certification institution in Spain assessed, among other aspects, the various approaches to the incorporation of ESG criteria, and the main features of this process by asset class. Among the different significant aspects, AENOR highlighted the sensitivity and commitment of the management firms after years of analysing SRI criteria; the focus on transparency and responsibility in the Strategic Plan; the extensive development of ESG policies and regulatory analysis; the training efforts of managers; the adaptation and organisational adjustment of teams and governing bodies, and governance with monitoring of ESG matters; and an internal control management model based on three lines of defence.

With the new certification, CaixaBank highlights the efforts undertaken by the group in the integration of ESG criteria in investments, establishing a series of requirements and criteria to comprehensively integrate sustainability factors in investment analysis and decision-making processes for the construction of portfolios, as well in the advisory, design and management of products.

In addition, the certification guarantees transparency in the ESG investment process for customers and different stakeholders, and reinforces these processes, with an external audit and validation, by identifying the necessary levers for improvement in the control and monitoring of management in this area. The certification also enables the management teams to deepen their knowledge of the environment in which companies operate and identify potential risks they face. 

Committed to responsible investment

In line with its socially responsible banking model, CaixaBank is committed to sustainable investment, understood as investment that not only offers financial returns for investors, but also promotes management that is coherent with the creation of value for the whole of society, pursuing a social and environmental impact.

In 2020, there was a 176% increase in average balances of Private Banking customers held in socially responsible investment (SRI) funds.

In 2009, VidaCaixa became the first life insurer and pension fund manager in Spain to join the PRI initiative, an international network of investors working together to enact the six Principles for Responsible Investment, backed by the United Nations. Today, the company analyses 100% of its assets under management (96,467 million euros at year-end 2020) on the basis of sustainability criteria. In addition, in 2020, it became a signatory to the Principles for Sustainable Insurance (PSI), created by the UNEP FI.

Furthermore, CaixaBank AM has also adhered to the PRI since 2016, integrating into management the social, environmental and good governance aspects established by the United Nations with 88.2% of assets in Spanish funds managed under sustainability criteria.

About VidaCaixa

VidaCaixa, CaixaBank Group's pension fund manager, is the leading company in the Spanish insurance sector in terms of managed assets in life insurance and pensions funds, with 96,467 million euros in assets under management, and market shares at year-end 2020 of 29.3% in life insurance (28.1% in 2019) and 26.3% in pension plans (25.5% in 2019). With the incorporation of Bankia's assets following the merger, CaixaBank reinforces these shares, increasing them to 32.3% in life insurance provisions and 33.5% in pension plans, as at the end of March 2021.

About CaixaBank Asset Management

CaixaBank AM, CaixaBank Group's investment fund, UCITS and discretionary portfolio management firm, with a total of 53,336 million euros in assets under management at year-end 2020, is the leading management firm in Spain with a market share in investment funds of 17.50% as at March 2021 (17.07% in 2019). Discretionary portfolio management represents 57% of the assets under management, with 32,200 million euros as at the end of March 2021. With the incorporation of Bankia's assets following the merger, CaixaBank’s market share in mutual funds grows to 24.9% (end of March 2021).

Currently, CaixaBank AM operates in five locations: Madrid, Barcelona, Lisbon, Porto and Luxembourg, meaning it offers investment funds in different territories providing solutions to investors' needs.

About AENOR

AENOR is a professional services company that identifies and helps to remedy the shortcomings in the competitiveness of companies, sectors and the economic fabric in general. It contributes to the transformation of society by building trust between organisations and people through the assessment of conformity (certification, inspection and tests), training and information.

AENOR is the leading certification company in Spain, and it operates in 90 countries. More than 80,000 centres of work worldwide have an AENOR certification in areas such as Quality Management Sustainability, Non-Financial Information Verification, Animal Welfare, Occupational Health and Safety, Digitalisation and Compliance.

]]>
0
<![CDATA[CaixaBank successfully completes the placement of its first issuance in Swiss francs amounting to CHF 200 million]]> https://blog.caixabank.es/?p=23645 2021-06-01T00:00:00.0Z 2021-06-01T00:00:00.0Z <![CDATA[CaixaBank successfully completes the placement of its first issuance in Swiss francs amounting to CHF 200 million]]> CaixaBank has carried out its second public issuance in a non-euro currency, placing 200 million Swiss francs maturing in 6 years with an early redemption period in the last year by the issuer. This is its fifth issuance in 2021 and its fourth in non-preferred senior format, following the social bond issuance in May and the green bond issuances in February and May, the latter in British pounds.

Through this new issuance, the bank seeks to diversify its funding sources in the capital markets, and to expand its investment base, as announced in its presentation of results in May, when it also announced plans for the issuance of around €2 billion in senior non-preferred debt for the remainder of the year. Since then, the amount issued has amounted to the equivalent of €1.76 billion in this debt format.

These deals represent a highly positive balance for the bank which, after the merger with Bankia, restates its excellent access to the institutional debt market. So far this year, the bank has secured funding totalling the equivalent to €3.76 billion.

The rapid development of the order book has improved the final conditions of the issuance, with CHF 200 million issued, up from the CHF 150 million reported in the announcement. The price has been set at 87 basis points on the reference swap rate in Swiss francs, 3 points below the 90 basis points at the outset, in line with the usual practice on the Swiss market. At this level, CaixaBank achieves funding in Swiss francs at a cost of 4 basis points below its equivalent level of issuance in euros. The coupon has been set at 0.477%.

The bank responsible for the placement was Credit Suisse.

]]>
CaixaBank has carried out its second public issuance in a non-euro currency, placing 200 million Swiss francs maturing in 6 years with an early redemption period in the last year by the issuer. This is its fifth issuance in 2021 and its fourth in non-preferred senior format, following the social bond issuance in May and the green bond issuances in February and May, the latter in British pounds.

Through this new issuance, the bank seeks to diversify its funding sources in the capital markets, and to expand its investment base, as announced in its presentation of results in May, when it also announced plans for the issuance of around €2 billion in senior non-preferred debt for the remainder of the year. Since then, the amount issued has amounted to the equivalent of €1.76 billion in this debt format.

These deals represent a highly positive balance for the bank which, after the merger with Bankia, restates its excellent access to the institutional debt market. So far this year, the bank has secured funding totalling the equivalent to €3.76 billion.

The rapid development of the order book has improved the final conditions of the issuance, with CHF 200 million issued, up from the CHF 150 million reported in the announcement. The price has been set at 87 basis points on the reference swap rate in Swiss francs, 3 points below the 90 basis points at the outset, in line with the usual practice on the Swiss market. At this level, CaixaBank achieves funding in Swiss francs at a cost of 4 basis points below its equivalent level of issuance in euros. The coupon has been set at 0.477%.

The bank responsible for the placement was Credit Suisse.

]]>
0
<![CDATA[CaixaBank implements a new technology platform in its ATMs to offer the same user experience as mobile and web online banking]]> https://blog.caixabank.es/?p=23645 2021-05-31T00:00:00.0Z 2021-05-31T00:00:00.0Z <![CDATA[CaixaBank implements a new technology platform in its ATMs to offer the same user experience as mobile and web online banking]]>
CaixaBank begins to deploy its new ATM technology platform, ATMNow, designed to overhaul the user experience and add new services and functions.

The new platform has been developed with the aim of offering the same banking and image services on ATMs as users experience on CaixaBankNow, the online banking channel accessible via the web and mobile app. Although the technological characteristics of the devices are completely different, ATMNow involves a comprehensive adaptation to the ATM environment of the user experience and service quality of CaixaBank's digital banking.

The project represents a technological milestone in digital services innovation, enabling the bank headed by Chairman José Ignacio Goirigolzarri and CEO Gonzalo Gortázar to become the world's first full omni-channel bank, able to deliver the same customer experience across all its digital channels.

The implementation of ATMNow began with the installation of the platform in 50 ATMs located in key points across Barcelona. The process will be extended over the coming days to the rest of Spain, seeking to complete deployment by the end of July with more than 9,000 ATMs  on the CaixaBank network adapted. Furthermore, in the second half of the year, all the Bankia-network ATMs will be integrated to the platform. 

New features added

In addition to standardising styles and browsing flows to unify the user experience with the web and mobile channels, ATMNow provides CaixaBank’s ATMs with new services and functions that offer a more user-friendly and seamless interaction. Among other innovations, it improves the cash withdrawal process, which is simplified to only two steps.

It also features the addition of option menu customisation technology, enabling each user to have direct access to their most used features and options on the home screen. This personalisation will be conducted by default, each time the customer uses the ATM with their card without the need to reconfigure settings. Furthermore, the ATM screens have been redesigned to allow for more spaces to provide information to help users.

Through ATMNow, CaixaBank's full omni-channel nature paves the way for the creation of new services. For example, users will be able to set up operations through the app or on the web that they want to execute later at an ATM, upon identifying themselves. These new functions are planned to be integrated gradually.

ATMNow is a project conceived with new agile and design thinking methodologies. The process was devised taking into account feedback from customers of different ages and profiles, as well as groups of employees from the financial institution.

New phase in the deployment of facial-recognition technology for ATMs

The implementation of ATMNow will be accompanied by a new surge of facial-recognition technology facilities, offering customers withdrawals with less physical contact, while strengthening security in the use of terminals.

Currently there are more than 700 ATMs throughout Spain that feature this service, in which CaixaBank has been a trailblazer on a global level. The bank expects to reach 1,250 ATMs with biometric identification by the end of July 2021, thus, all the branches of CaixaBank's new model in Spain, will have at least one ATM integrating this feature. To facilitate use, customers will be able to sign up and register their biometric data from their mobile phone using CaixaBankNow, without having to be assisted by an adviser.

CaixaBank, the digital banking leader

Offering the best user experience in all physical or online customer service channels is one of the pillars of CaixaBank's 2019-2021 Strategic Plan. Currently, the bank has the largest customer base in Spain with a total of over 10 million users of all digital service channels.

Thanks to its digital transformation strategy, the company has been ranked among the best banks in the world for the quality of its digital products and services, receiving accolades such as the “World's Best Consumer Bank 2020” and the “Best Bank in Spain 2020” from the North American magazine Global Finance. These awards are in addition to those obtained in the digital banking sector, such as “Best digital bank in consumer banking in Spain 2020”, and in the private banking sphere, in which CaixaBank has been named “Best Private Bank in Europe for its digital culture and vision 2020”.

In addition, the CaixaBankNow app has been ranked by Global Finance as the “Best Consumer Mobile Banking App in Western Europe” for the third year running. 

]]>

CaixaBank begins to deploy its new ATM technology platform, ATMNow, designed to overhaul the user experience and add new services and functions.

The new platform has been developed with the aim of offering the same banking and image services on ATMs as users experience on CaixaBankNow, the online banking channel accessible via the web and mobile app. Although the technological characteristics of the devices are completely different, ATMNow involves a comprehensive adaptation to the ATM environment of the user experience and service quality of CaixaBank's digital banking.

The project represents a technological milestone in digital services innovation, enabling the bank headed by Chairman José Ignacio Goirigolzarri and CEO Gonzalo Gortázar to become the world's first full omni-channel bank, able to deliver the same customer experience across all its digital channels.

The implementation of ATMNow began with the installation of the platform in 50 ATMs located in key points across Barcelona. The process will be extended over the coming days to the rest of Spain, seeking to complete deployment by the end of July with more than 9,000 ATMs  on the CaixaBank network adapted. Furthermore, in the second half of the year, all the Bankia-network ATMs will be integrated to the platform. 

New features added

In addition to standardising styles and browsing flows to unify the user experience with the web and mobile channels, ATMNow provides CaixaBank’s ATMs with new services and functions that offer a more user-friendly and seamless interaction. Among other innovations, it improves the cash withdrawal process, which is simplified to only two steps.

It also features the addition of option menu customisation technology, enabling each user to have direct access to their most used features and options on the home screen. This personalisation will be conducted by default, each time the customer uses the ATM with their card without the need to reconfigure settings. Furthermore, the ATM screens have been redesigned to allow for more spaces to provide information to help users.

Through ATMNow, CaixaBank's full omni-channel nature paves the way for the creation of new services. For example, users will be able to set up operations through the app or on the web that they want to execute later at an ATM, upon identifying themselves. These new functions are planned to be integrated gradually.

ATMNow is a project conceived with new agile and design thinking methodologies. The process was devised taking into account feedback from customers of different ages and profiles, as well as groups of employees from the financial institution.

New phase in the deployment of facial-recognition technology for ATMs

The implementation of ATMNow will be accompanied by a new surge of facial-recognition technology facilities, offering customers withdrawals with less physical contact, while strengthening security in the use of terminals.

Currently there are more than 700 ATMs throughout Spain that feature this service, in which CaixaBank has been a trailblazer on a global level. The bank expects to reach 1,250 ATMs with biometric identification by the end of July 2021, thus, all the branches of CaixaBank's new model in Spain, will have at least one ATM integrating this feature. To facilitate use, customers will be able to sign up and register their biometric data from their mobile phone using CaixaBankNow, without having to be assisted by an adviser.

CaixaBank, the digital banking leader

Offering the best user experience in all physical or online customer service channels is one of the pillars of CaixaBank's 2019-2021 Strategic Plan. Currently, the bank has the largest customer base in Spain with a total of over 10 million users of all digital service channels.

Thanks to its digital transformation strategy, the company has been ranked among the best banks in the world for the quality of its digital products and services, receiving accolades such as the “World's Best Consumer Bank 2020” and the “Best Bank in Spain 2020” from the North American magazine Global Finance. These awards are in addition to those obtained in the digital banking sector, such as “Best digital bank in consumer banking in Spain 2020”, and in the private banking sphere, in which CaixaBank has been named “Best Private Bank in Europe for its digital culture and vision 2020”.

In addition, the CaixaBankNow app has been ranked by Global Finance as the “Best Consumer Mobile Banking App in Western Europe” for the third year running. 

]]>
0
<![CDATA[CaixaBank advises Acciona on the biggest sustainable financing transaction in Spain]]> https://blog.caixabank.es/?p=23645 2021-05-28T00:00:00.0Z 2021-05-28T00:00:00.0Z <![CDATA[CaixaBank advises Acciona on the biggest sustainable financing transaction in Spain]]> Acciona has signed two corporate syndicated loans for a total amount of €3.3 billion, the largest sustainable financing transaction in Spain to date. The operation financed both Acciona SA and its subsidiary Acciona Energía, which is in an IPO process.

Within the framework of these transactions, CaixaBank has acted as the lead bank and sustainability agent for the €2.5 billion loan granted to Acciona Energía. In this role, CaixaBank has advised the company on the structure, design and incorporation of sustainability goals. In the second tranche of the financing granted to Acciona SA, totalling €800 million, CaixaBank acted as lender.

Both financing transactions have a pioneer dual-impact sustainability structure, where the spread is linked to the attainment of both local sustainability targets and corporate targets. It is a ground-breaking and innovative deal, featuring commitments to generate positive impact.

The financing granted to Acciona Energía includes the strategic objective of aligning 95% of capital expenditure (capex) to the EU’s green taxonomy. Meanwhile, for the Acciona SA financing, the target is a 60% reduction in greenhouse gas emissions by 2030.

As for the additional positive local impact to which the loan spread has been linked, targets for Acciona Energy include the absorption of emissions from business activities by planting and preserving trees, while Acciona SA will seek to deliver training to vulnerable groups and access to clean energy sources for isolated rural communities.

For these financing operations, Acciona has drawn up a Sustainable Financing Framework, where external advisor DNV has issued a Second Party Opinion  certifying the substantiality of the selected indicators and related targets, and confirming that the transaction is aligned with the Sustainability Linked Loan Principles released by the Loan Market Association in 2019 and on which this type of transaction is based.

This is a further testament of CaixaBank’s ongoing support for companies committed to sustainability through innovation by incorporating sustainable financing solutions. This transaction is particularly noteworthy due to the novelty and variety of the goals set and the commitment to achieving sustainable impact.

CaixaBank, committed to sustainable financing

CaixaBank is one of the financial institutions most committed to sustainability, given that its Socially Responsible Banking Plan envisions five key principles of action that contribute directly to the UN Sustainable Development Goals. Through its activities, the Bank supports environmentally friendly initiatives and projects that help prevent and mitigate climate change, champion the transition towards a low-carbon economy and foster social development.

In 2020, the Bank granted more than €12 billion in sustainable financing, with over €2 billion in green financing and more than €3 billion in financing linked to ESG variables, focusing on environmental targets, such as reducing emissions or energy efficiency.

In 2020, CaixaBank ranked 5th in Europe and 9th worldwide in green and sustainable lending by volume, according to the League Tables – Top Tier published by Refinitiv. As we move through 2021, CaixaBank is currently the leading bank in the issuance and placement of green, social, and sustainable bonds in the Spanish and Portuguese markets, according to the Dealogic and Refinitiv rankings.

As of May 2021, CaixaBank has issued seven bonds to support the UN’s Sustainable Development Goals, and is the European bank with the largest volume of ESG bond issues denominated in euros, with a total of four green bonds and three social bonds, with a combined value of €6 billion and £500 million. This makes it Europe’s largest bank when it comes to the volume of ESG bonds through euro-denominated financing.

]]>
Acciona has signed two corporate syndicated loans for a total amount of €3.3 billion, the largest sustainable financing transaction in Spain to date. The operation financed both Acciona SA and its subsidiary Acciona Energía, which is in an IPO process.

Within the framework of these transactions, CaixaBank has acted as the lead bank and sustainability agent for the €2.5 billion loan granted to Acciona Energía. In this role, CaixaBank has advised the company on the structure, design and incorporation of sustainability goals. In the second tranche of the financing granted to Acciona SA, totalling €800 million, CaixaBank acted as lender.

Both financing transactions have a pioneer dual-impact sustainability structure, where the spread is linked to the attainment of both local sustainability targets and corporate targets. It is a ground-breaking and innovative deal, featuring commitments to generate positive impact.

The financing granted to Acciona Energía includes the strategic objective of aligning 95% of capital expenditure (capex) to the EU’s green taxonomy. Meanwhile, for the Acciona SA financing, the target is a 60% reduction in greenhouse gas emissions by 2030.

As for the additional positive local impact to which the loan spread has been linked, targets for Acciona Energy include the absorption of emissions from business activities by planting and preserving trees, while Acciona SA will seek to deliver training to vulnerable groups and access to clean energy sources for isolated rural communities.

For these financing operations, Acciona has drawn up a Sustainable Financing Framework, where external advisor DNV has issued a Second Party Opinion  certifying the substantiality of the selected indicators and related targets, and confirming that the transaction is aligned with the Sustainability Linked Loan Principles released by the Loan Market Association in 2019 and on which this type of transaction is based.

This is a further testament of CaixaBank’s ongoing support for companies committed to sustainability through innovation by incorporating sustainable financing solutions. This transaction is particularly noteworthy due to the novelty and variety of the goals set and the commitment to achieving sustainable impact.

CaixaBank, committed to sustainable financing

CaixaBank is one of the financial institutions most committed to sustainability, given that its Socially Responsible Banking Plan envisions five key principles of action that contribute directly to the UN Sustainable Development Goals. Through its activities, the Bank supports environmentally friendly initiatives and projects that help prevent and mitigate climate change, champion the transition towards a low-carbon economy and foster social development.

In 2020, the Bank granted more than €12 billion in sustainable financing, with over €2 billion in green financing and more than €3 billion in financing linked to ESG variables, focusing on environmental targets, such as reducing emissions or energy efficiency.

In 2020, CaixaBank ranked 5th in Europe and 9th worldwide in green and sustainable lending by volume, according to the League Tables – Top Tier published by Refinitiv. As we move through 2021, CaixaBank is currently the leading bank in the issuance and placement of green, social, and sustainable bonds in the Spanish and Portuguese markets, according to the Dealogic and Refinitiv rankings.

As of May 2021, CaixaBank has issued seven bonds to support the UN’s Sustainable Development Goals, and is the European bank with the largest volume of ESG bond issues denominated in euros, with a total of four green bonds and three social bonds, with a combined value of €6 billion and £500 million. This makes it Europe’s largest bank when it comes to the volume of ESG bonds through euro-denominated financing.

]]>
0
<![CDATA[CaixaBank named \"Outstanding Financial Innovator in Western Europe 2021\" by Global Finance magazine]]> https://blog.caixabank.es/?p=23645 2021-05-28T00:00:00.0Z 2021-05-28T00:00:00.0Z <![CDATA[CaixaBank named \"Outstanding Financial Innovator in Western Europe 2021\" by Global Finance magazine]]> CaixaBank, Spain's leading bank, has been named “Outstanding Financial Innovator (Bank) in Western Europe 2021” at Global Finance’s annual The Innovators awards for 2021. In its ninth edition this year, the awards acknowledge financial institutions that not only excel in identifying new paths and designing new tools in finance, but that have also been able to leverage their technological leadership to continuously facilitate banking and  support to their customers during the pandemic.

The award winners this year were selected by a jury that comprised the magazine's editorial board with the input of reporters who are experts on the functions being served by these innovators. For Joseph Giarraputo, publisher and editorial director of Global Finance, “Finance innovations proved critical to speeding needed support to different stakeholders during the health care crisis. Fintech developments continue to ease corporate and retail customers’ decision making about what to do with their money as well as their ability to execute the necessary transactions. Our Innovators awards showcase the leading creative issues of the past year”.

Customer experience and digital transformation

The “Outstanding Financial Innovator (Bank) in Western Europe 2021" award is recognition of CaixaBank’s ongoing innovation and technological development conducted over decades and which has led to it being the leader of digital banking in Spain.

With 19.3 million customers in the country, CaixaBank provides a unique omnichannel distribution platform with multi-product capabilities that continuously evolves to anticipate customer needs and preferences.

CaixaBank has also continued to strengthen its leadership of the digital banking market. It now accounts for 70.5% of digital customers and is firmly committed to digital transformation and supporting innovative companies with growth potential.

Global Finance is a monthly magazine founded in 1987, headquartered in New York. It has a circulation of 50,000 and has readers in 191 countries.

The new CaixaBankNow Empresas y Negocios, innovation highlight of the year

Furthermore, the new online and mobile banking platform, CaixaBankNow Empresas y Negocios, launched in 2020, has been recognized for “Outstanding Innovation in Cash Management 2021”. 

CaixaBankNow Empresas y Negocios was created as an evolution of CaixaBankNow for individuals, adapted and customised to the needs and demands of professional customers, leveraging all the bank's know-how and experience in retail banking to ensure that business customers benefit from the same excellent user experience as individual customers.

The platform boasts a new native app and Noa, a chatbot that understands and answers specific business and professional questions, both spoken and in writing. It also features a dashboard with a comprehensive, aggregated view of the most relevant company information, as well as shortcuts to most-used features. The CaixaBankNow Empresas y Negocios dashboard can be customised according to the type of company and user, and adapts to the different types of profiles interacting within a company, such as financial, administrative, and audit and control professionals.

In the version for individuals, the mobile application CaixaBankNow has also received a special mention for its ongoing innovation in this edition of The Innovators and the app was named “Best Consumer Mobile Banking App in Western Europe 2020” by Global Finance.

International acknowledgement of CaixaBank

Further to The Innovators awards, Global Finance recognised CaixaBank with the award of "Best Bank in Spain" for the seventh consecutive year and "Best Bank in Western Europe" for the third time.

In addition, efforts to continue to accompany its customers at all times throughout the pandemic arising from COVID-19 have earned CaixaBank the recognition of “Outstanding Achievement in Treasury Operations during COVID-19 pandemic in Western Europe 2021” by Global Finance, which in 2020 named CaixaBank as the only European bank in its “Outstanding Crisis Leadership” recognitions.

The British magazine Euromoney acknowledged CaixaBank with the award "Excellence in Leadership in Western Europe 2020" for its social commitment in its response to the COVID-19 crisis.

In the field of innovation and digitalisation, CaixaBank has also received various awards in recent months, such as CaixaBank Pay’s award for the “Best Mobile Payments for Consumer Initiative”, granted by the Bank Administration Institute, and “Model Bank of the Year in Mortgage Lending” for the Mortgage Now project, awarded by Celent.

]]>
CaixaBank, Spain's leading bank, has been named “Outstanding Financial Innovator (Bank) in Western Europe 2021” at Global Finance’s annual The Innovators awards for 2021. In its ninth edition this year, the awards acknowledge financial institutions that not only excel in identifying new paths and designing new tools in finance, but that have also been able to leverage their technological leadership to continuously facilitate banking and  support to their customers during the pandemic.

The award winners this year were selected by a jury that comprised the magazine's editorial board with the input of reporters who are experts on the functions being served by these innovators. For Joseph Giarraputo, publisher and editorial director of Global Finance, “Finance innovations proved critical to speeding needed support to different stakeholders during the health care crisis. Fintech developments continue to ease corporate and retail customers’ decision making about what to do with their money as well as their ability to execute the necessary transactions. Our Innovators awards showcase the leading creative issues of the past year”.

Customer experience and digital transformation

The “Outstanding Financial Innovator (Bank) in Western Europe 2021" award is recognition of CaixaBank’s ongoing innovation and technological development conducted over decades and which has led to it being the leader of digital banking in Spain.

With 19.3 million customers in the country, CaixaBank provides a unique omnichannel distribution platform with multi-product capabilities that continuously evolves to anticipate customer needs and preferences.

CaixaBank has also continued to strengthen its leadership of the digital banking market. It now accounts for 70.5% of digital customers and is firmly committed to digital transformation and supporting innovative companies with growth potential.

Global Finance is a monthly magazine founded in 1987, headquartered in New York. It has a circulation of 50,000 and has readers in 191 countries.

The new CaixaBankNow Empresas y Negocios, innovation highlight of the year

Furthermore, the new online and mobile banking platform, CaixaBankNow Empresas y Negocios, launched in 2020, has been recognized for “Outstanding Innovation in Cash Management 2021”. 

CaixaBankNow Empresas y Negocios was created as an evolution of CaixaBankNow for individuals, adapted and customised to the needs and demands of professional customers, leveraging all the bank's know-how and experience in retail banking to ensure that business customers benefit from the same excellent user experience as individual customers.

The platform boasts a new native app and Noa, a chatbot that understands and answers specific business and professional questions, both spoken and in writing. It also features a dashboard with a comprehensive, aggregated view of the most relevant company information, as well as shortcuts to most-used features. The CaixaBankNow Empresas y Negocios dashboard can be customised according to the type of company and user, and adapts to the different types of profiles interacting within a company, such as financial, administrative, and audit and control professionals.

In the version for individuals, the mobile application CaixaBankNow has also received a special mention for its ongoing innovation in this edition of The Innovators and the app was named “Best Consumer Mobile Banking App in Western Europe 2020” by Global Finance.

International acknowledgement of CaixaBank

Further to The Innovators awards, Global Finance recognised CaixaBank with the award of "Best Bank in Spain" for the seventh consecutive year and "Best Bank in Western Europe" for the third time.

In addition, efforts to continue to accompany its customers at all times throughout the pandemic arising from COVID-19 have earned CaixaBank the recognition of “Outstanding Achievement in Treasury Operations during COVID-19 pandemic in Western Europe 2021” by Global Finance, which in 2020 named CaixaBank as the only European bank in its “Outstanding Crisis Leadership” recognitions.

The British magazine Euromoney acknowledged CaixaBank with the award "Excellence in Leadership in Western Europe 2020" for its social commitment in its response to the COVID-19 crisis.

In the field of innovation and digitalisation, CaixaBank has also received various awards in recent months, such as CaixaBank Pay’s award for the “Best Mobile Payments for Consumer Initiative”, granted by the Bank Administration Institute, and “Model Bank of the Year in Mortgage Lending” for the Mortgage Now project, awarded by Celent.

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