CaixaBank was recognized as the leading bank in sustainable financing in Europe in the first half of the year, according to the Refinitiv ranking, which positions CaixaBank in the top of its EMEA Top Tier Green & ESG-Linked Loans ranking.
In this ranking, Refinitiv assessed over $7.32 billion worth of green and ESG linked loans in 46 financing operations, those where CaixaBank was considered to have a top-tier lender role.
In the first half of 2022, the CIB&IB division financed more than €9.5 billion in sustainable financing, 28% more than in the same period last year.
In the sustainable loans (ESG-linked) category, focusing on financing where the interest rate is linked to sustainable objectives (KPIs or ESG Ratings, CaixaBank led some of the most notable financing operations in Spain and Europe. This included CaixaBank acting as the top provider of sustainable financing in the national maritime sector with Balearia, in the Spanish textile industry with Mango, as well as with international enterprises like Sonae Arauco, ASTM and A2A. In all these transactions, CaixaBank acted as the Sustainability Coordinator and Agent.
Leader in green financing in Europe
Meanwhile, CaixaBank was also recognized as the leader in green financing in Europe and as top two bank globally (only behind Sumitomo Mitsui Banking Corporation) in the first half of 2022, according to the League Table Green Use of Proceeds Top Tier Lender by Bloomberg, one of the most prestigious financial information agencies. According to Bloomberg’s ranking, CaixaBank provided $1.8 billion in financing for 10 operations.
In terms of the green financing operations in the first half of the year, of a particular note is one involving Aqualia, which had the highest volume in Spain this year, as well as the green and social loans provided to Avalon and Ares to help develop real estate in the first two tranches of the VIVE Plan for the Madrid regional government. In green and social financing, further funds have been earmarked for eligible projects with direct environmental and social impact. CaixaBank has continued to innovate in this type of financing by structuring transactional banking vehicles into green products, such as the Trade Financing Line or Green Guarantees with customers such as Greenergy, Opdenergy and FRV (Fotowatio).
Sustainability, a priority of the new Strategic Plan
As part of its new 2022-2024 Strategic Plan, CaixaBank has established becoming a sustainability leader in Europe as a strategic priority. To help achieve this, it will mobilise €64 billion to accelerate the transition to sustainability in companies and society as a whole.
CaixaBank also has other commitments that help achieve the ambitions of its 2022-2024 Sustainable Banking Plan. In the environmental area, the bank has committed to further decarbonization of its portfolio in order to reach zero emissions by 2050 and plans to publish its targets in October 2022. In the social area, it will allocate over €3.5 billion to new microloans, impacting more than 413,000 beneficiaries through its social bank, MicroBank. In the area of governance, CaixaBank targets having 42% of managerial positions staffed by women.
The €9.5 billion financed in sustainable financing in the first half of the year by the CIB&IB division are part of this commitment to mobilise €64 billion in sustainable financing between 2022 and 2024.
