• The bank has reached new record levels in both sustainable loans, with 11,595 million euros, and ESG issuances, with more than 19,780 million euros.
• CaixaBank ended the 2021 financial year sixth on Refinitiv's ranking of sustainable financing in Europe and is the highest ranking Spanish bank in this Top Tier Lender classification.
CaixaBank has mobilised 31,375 million euros in sustainable financing in 2021. This figure, which includes both sustainable loans and bonds, is 150.8% higher than the previous year.
In the category of sustainable loans, CaixaBank closed 105 transactions worth 11,595 million euros in 2021. This figure represents an 131% increase on 2020 and marks a new record for the bank in this area of activity.
Sustainable loans fall into three categories: green loans, which have a direct positive environmental impact; social loans, when the use of the funds has an impact on social variables, such as health or education; and ESG-Linked loans, which aim to incentivise the company's achievement of sustainable goals.
In 2021, CaixaBank closed 68 ESG-Linked transactions worth 6,113 million euros. Among them stands out the participation in Acciona's sustainable syndicated loan for 3,300 million euros, which is the largest sustainable financing transaction in Spain to date, and Acciona Energía's inaugural project. The syndicated loans signed by Atresmedia, Applus and Europastry, all three pioneers in their respective sectors, are also noteworthy. The syndicated loans granted to Cementos Molins, Naturgy, Roca and Endesa also stood out for the implementation of innovative structures, which have contributed to driving activity in this market. In all these transactions, CaixaBank acted as Sustainability Coordinator and Agent, supporting customers in designing the transactions.
With regard to ESG-Linked financing within the scope of transactional banking, CaixaBank has introduced these environmental, social and governance variables into products such as factoring, reverse factoring, guarantees and credit facilities. In this category, it has completed 15 transactions worth 4,188 million euros, among which the transactions signed with Endesa, Arval, Siemens Gamesa and Gestamp are the most prominent.
Furthermore, CaixaBank issued 22 green loans for an amount of 1,294 million euros in 2021. Within this category, it is worth highlighting the financing granted in February to the Barcelona Metropolitan Area to finance its sustainable mobility programme; and the financing of renewable energy projects, such as Cúbico's initiative to refinance two solar energy projects in the south of Spain, and Dogger Bank, the world's largest offshore wind farm that is being built in the United Kingdom.
ESG bond issues
ESG bonds fall into four categories: green bonds, when they have a positive environmental impact; social bonds, if they have an impact on social improvements, such as health, education or public transportation; sustainable bonds, which combine green and social variables; and sustainability-linked bonds, which link the bond's conditions to the achievement of sustainable goals by the company.
In 2021, CaixaBank participated as bookrunner in the issuance of 18 ESG bonds, resulting in the placement of 16,200 million euros, excluding own issuances. With regard to green bonds, 8,030 million euros were issued, including those for Acciona Energía, Adif and Red Eléctrica.
In sustainable bonds, the issuances of the Community of Madrid, the Basque Government, Junta de Andalucía or Telefónica stand out. CaixaBank's participation in sustainable bonds has reached 4,500 million euros. In sustainability-linked bonds, those of Enel or ASTM are worth noting.
In 2021, CaixaBank issued four own bonds worth 3,500 million euros under the framework of green and social bonds to support the United Nations Sustainable Development Goals. These four bonds add to the three issued in 2019 and 2020, making CaixaBank the European bank with the largest volume of own ESG bonds issued in euros, with a total of seven issuances - four green and three social - standing at an aggregate value of 6,000 million euros and 500 million pounds sterling respectively.
Adding own and third-party ESG bonds, CaixaBank mobilised 19,780 million euros in 2021, an increase of 164% on the previous year.
Sixth position in sustainable financing in Europe
CaixaBank closed the 2021 financial year as the sixth bank in sustainable financing in Europe, according to the Refinitiv ranking, and is the highest ranking Spanish bank in the Top Tier Lender classification.
The bank has consolidated itself as the Spanish market leader and has become one of the benchmarks in sustainable financing worldwide. At an international level, CaixaBank has participated in transactions in 14 countries. These include the Transport Light Rail in Sydney, which represented the first sustainable financing transaction signed by the bank in Australia; the financing of Vineyard Wind, a wind project led by Avangrid and CIP in the United States; and the Fargo project, driven by Acciona and involving the construction of an innovative infrastructure designed for climate change adaptation in North Dakota and Minnesota. These two transactions were recently recognised as Deal of the Year Global and Deal of the Year Américas, respectively, by PFI (Project Finance International).