CaixaBank launches a plan to procure all of its electricity from renewable sources

Announced at the Business&Climate Summit, held this week in London

• The bank becomes the first Spanish organisation to be included on the RE100 list, comprised of global trailblazers in the commitment to harness green energy.
• It aims to procure 100% of electricity from renewable sources within three years, coinciding with the end of the CaixaBank 2015-18 strategic plan.

CaixaBank has launched a plan to procure 100% of the electricity used by the bank from renewable sources by 2018. The bank announced its commitment today in London at the Business & Climate Summit 2016, organised by the environmental organisations The Climate Group and We Mean Business, among others, as well as the International Chamber of Commerce and the World Economic Forum Global Project on Climate Change.

CaixaBank also joins the RE100 list, as announced at the Business & Climate Summit in London today by Steve Howard, Chief Sustainability Officer at IKEA, who also unveiled a new We Mean Business report showing that businesses will be a key driver of global climate action to 2030 and beyond.

The RE100 initiative was set up during the 2014 Climate Week in New York, and has seen some of the world's leading companies undertake to power 100% of operations using renewable electricity. It is the first time that a Spanish organization has been included in the index. From today, a total of 68 companies from all kinds of industries are involved in the RE100 project.

RE100 Campaign Director at The Climate Group Emily Farnworth, said: "It's fantastic to have a Spanish company join our global campaign – we hope it inspires many more to follow. CaixaBank is already leading by example by sourcing renewable electricity – today, it is going one step further. By joining RE100, the world's most influential companies are sending a strong market signal to investors and policy makers that renewables make business sense."

Measures to drive down electricity use

The bank's central services are currently powered by 100% renewably sourced energy. The aim is to extend this to the entire branch network, the largest of any financial institution in Spain with 5,183 branches, by 2018, coinciding with the end of the 2015-18 strategic plan.

To accomplish this, the bank is adopting a series of measures to curb electricity use, including deployment of Smart PCs. These devices provide managers and consultants with greater mobility and advanced features to offer optimal support to clients, while also using 25% less electricity than conventional computers.The use of LED lighting at CaixaBank branches also helps to drive energy savings.

Meanwhile, CaixaBank aspires to be a carbon neutral bank by 2018, compensating all CO2 emissions generated by the entire organization, based on the carbon footprint measurements identified in the bank's studies.

Environmental strategy is crucial for CaixaBank

Shrinking its environmental footprint and supporting sustainable and environmentally friendly activities are central to CaixaBank's operations, as enshrined in its corporate social responsibility strategy.

CaixaBank is among the companies at the forefront of environmental management: in 2015 it secured the top score (100A) in the CDP's "The Climate A list", a global index examining the current state of the corporate response to the causes of global warming. The bank also scored higher than 90 points in environmental policy, according to an analysts' report for the Dow Jones Sustainability Index (DJSI), the foremost global indicator for corporate responsibility.

AboutRE100

RE100 is a global, collaborative initiative of influential businesses committed to 100% renewable electricity, working to massively increase demand for – and delivery of – renewable energy. This will accelerate the transformation of the global energy market and aid the transition towards a low carbon economy. RE100 shares the compelling business case for renewables and showcases business action, while working with others to address barriers and develop transparent reporting mechanisms. RE100 is brought to you by The Climate Group in partnership with CDP, as part of the We Mean Business coalition.