CaixaBank has been recognised for its ‘Outstanding Leadership in ESG-Related Loans in the World 2023’ and its ‘Outstanding Financial Leadership in Sustaining Communities in Western Europe 2023’ at the Sustainable Finance Awards 2023 of American magazine Global Finance. This is the first time that CaixaBank has received two awards at this event, which were presented last night in London.
The Sustainable Finance Awards, now in their third year, honor organizations that are leading the way in sustainable finance. Sustainable finance is the funding of initiatives designed to mitigate the negative impacts of climate change and build a more sustainable future for humanity.The winners of these prizes were chosen by the editors of the magazine, based on entries which were required for consideration, as well as independent research. Criteria for evaluation included governance policies and goals as well as measurable achievements in environmental and social sustainability financing. This awards programme focuses on activities from January 2022 to December 2022.
Joseph Giarraputo, founder and editor director of the magazine Global Finance, has said “Global energy prices have waxed and waned during the past few years due to the pandemic and regional conflicts. Nonetheless, financial commitments to sustainability have not wavered. Global Finance’s Sustainable Finance Awards recognise the financial institutions that have initiated, maintained and grown their sustainable offerings and financing throughout 2022”.
Global leadership in sustainable financing
These prizes recognise CaixaBank's commitment to establish itself as Europe's leading bank in sustainability.
The award for 'Outstanding Leadership in ESG-Related Loans in the World 2023' rewards the bank's commitment in this field. As part of its Strategic Plan 2022-2024, CaixaBank has set a goal of mobilising €64 billion in sustainable finances by promoting several initiatives focused on its range of products, ESG guidance, awareness and training. In 2022, the company mobilized €23.583 billion, €20.633 billion of which was in sustainable financing, and €2.95 billion in sustainable intermediation.
Firm commitment to social action
Furthermore, the award for 'Outstanding Financial Leadership in Sustaining Communities in Western Europe 2023' reflects the bank's social calling through its commitment to financial inclusion, its support for the most vulnerable groups, and training and entrepreneurship programmes alongside other initiatives.
In this field, CaixaBank relies on MicroBank, Europe's largest micro-loans bank. Since its founding in 2007, CaixaBank's social bank has mobilised more than €8.7 billion through almost 1.3 million projects with a social impact. Of this amount, more than €7.9 billion has been for micro-loans, with a special emphasis on those intended to meet specific needs of families, and loans given to start up or consolidate businesses set up by entrepreneurs and micro-enterprises.
CaixaBank is strongly committed to the territory and its communities. For the company, backing social action initiatives and encouraging volunteering are a way to help meet the challenges posed by society, while also, through its financing activity, offering services and solutions to all kinds of people.
Also of note is the CaixaBank Volunteering programme, one of the largest volunteering initiatives in Spain. Having more than 18 years of experience, the association comprises employees and former employees of CaixaBank Group and "la Caixa" Foundation, as well as friends, family members, customers and all those who want to take part in charity activities.
In the past year, thanks to the combined efforts of 1,991 social entities, nearly 14,000 volunteers helped more than 482,000 vulnerable people all over Spain through activities involving education, digitisation, assistance for vulnerable individuals, the environment and more.
International accolades for its sustainability and social commitment
The Sustainable Finance Awards 2023 from Global Finance are in addition to those received in previous years, like 'Best Bank for Sustainable Finance in Spain 2022' and 'Outstanding Leadership in Social Bonds in Western Europe 2021'. In addition, in this year's The Innovators prizes, the American magazine rewarded the bank's innovation in sustainability through its carbon footprint calculator service for individuals. In 2022, the British magazine Euromoney named CaixaBank the ‘Best Bank for Corporate Responsibility in Western Europe’.
