· The bank will soon launch a new range of investment funds and pension plans, the SI Impact Solutions Range, with the highest sustainability rating.
· The partnership with BlackRock is geared towards equity strategy, although the same philosophy will apply to all CaixaBank's impact investing.
· Through this launch, CaixaBank drives impact investing and fosters a culture of sustainable finance in our society.
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.
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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.