• CaixaBank's rating jumps 11 places, to Low Risk, and reaches 30th position in the world ranking of 406 banks analysed.
• The bank ranks first in Spain with 19 points, after receiving a better rating from analysts compared to 2020 thanks to its progress in ESG risk management.
• This recognition follows CaixaBank's recent inclusion, for the tenth consecutive year, in the Dow Jones Sustainability Index (DJSI), where the bank obtained the highest score (100 points) in the areas of risk management, financial inclusion and social and environmental reporting.
CaixaBank has improved its rating in the ESG Sustainalytics 2021 rating index and ranks first among Spanish banks. Sustainalytics, a Morningstar company that measures business performance in environmental, social and corporate governance matters, has upgraded CaixaBank's score from medium risk to low risk and the financial institution has jumped 11 positions to 30th in the global ranking of the 406 banks analysed.
In the 2021 assessment, CaixaBank has 19 points, 3.6 points up on the same analyst's assessment in 2020. Simultaneously, the bank has achieved an overall improvement of 16%.
This improvement is due to the 9.5-point increase in the ESG Risk Management score, reaching 64.3 points and a strong position in the index. The reason stated by the independent firm that runs this ranking is the “proper implementation of policies and controls on matters of governance.” Furthermore, CaixaBank has also increased risk exposure by one point due to risks related to product governance, data privacy and security, and business ethics.
CaixaBank, a socially responsible banking model
CaixaBank is a company with a social focus. Remaining true to its roots, the bank has pledged to serve society and its customers. Sustainability is one of the lines of the institution's 2019-2021 Strategic Plan, and the bank also has its own Socially Responsible Banking Plan.
One of the bank's key commitments is financial inclusion, facilitated with its expansive branch network. CaixaBank is the only institution present in 100% of towns with more than 10,000 inhabitants, and in 94% of those with more than 5,000. It is also the only bank that offers microloans to people with no guarantees or sureties, through MicroBank, to help them drive their personal and professional projects.
Meanwhile, it remains committed to financial culture though multiple initiatives, to help people make better decisions when managing their finances. Additionally, part of its workforce participates in volunteering activities during social weeks and it is one Spain's most highly rated companies in terms of corporate voluntary work.
CaixaBank has a Sustainability Committee, which reports to the Management Committee, responsible for monitoring sustainability strategy and practices. In fact, the bank has recently received various awards for its policy and good practices. In the Dow Jones Sustainability Index (DJSI) released a few days ago, CaixaBank remains among the world's most sustainable banks for the tenth consecutive year. The bank obtained the highest score (100 points) in the areas of risk management, financial inclusion and social and environmental reporting.
CaixaBank is also one of the leading financial institutions in the fight to combat climate change, with various commitments such as inclusion in the United Nations Collective Commitment to Climate Action; its inclusion in the RE100 list, where CaixaBank became the first Spanish company to be included in this initiative that seeks to increase the demand and supply of clean energies; accession to the Spanish Group for Green Growth; adherence to the recommendations of the Task Force on Climate-related Financial Disclosures, the core goal of which is to increase the measures taken in response to climate-related financial risks and the reporting quality. In addition to this, participation in the Principles for Responsible Banking, which are designed to guide banks in strategically aligning their business with development and sustainability goals at the international, regional and national levels; its recent incorporation in the Net Zero Banking Alliance, through which the banking sector commits to achieving zero net emissions by 2050 in line with the 1.5°C goal set out in the Paris Agreement and the most recent COP26 summit