CaixaBank reduces its greenhouse emissions by 75% in ten years

• It is the only company in the Ibex 35 that offsets 100% of its calculated emissions.
• This year, CaixaBank has offset is emissions through a project that works to generate clean energy using the waste from pig farms in a region of Mexico.
• CaixaBank solidifies its commitment to the climate by advocating for green lending and sustainable financing.

Our carbon footprint and climate change have a direct relationship that could be summarised like this: the greenhouse gases generated by our daily activities, most notably carbon dioxide (CO₂), get caught in the atmosphere and create a sort of screen that traps the heat given off by the earth. This is how global warming occurs, leading to large-scale changes in the patterns of the weather-related phenomena.

Each year, CaixaBank calculates the greenhouse gases that it has directly or indirectly emitted into the atmosphere: when turning on the lights in its offices or using its computers or heating and cooling systems, through consumption of paper or other materials, with transport or employee travel, etc. In 2018, the company's total emissions reached 27,334 tons, 21% less than the previous year. This reduction is fruit of an active emissions control policy that it has managed to reduce emissions by 75% since 2009.

Once its carbon footprint has been determined, CaixaBank offsets 100% of these emissions by supporting various projects chosen for their high social and environmental impact. This year, the company has compensated the 2018 emissions through a project based in Mexico that involves generating clean energy by using the waste from pig farms in the Sonora region. Furthermore, CaixaBank completes the CO₂ offsetting through the reforestation of two forests located in Montserrat (Barcelona) and Ejulve (Teruel), whose direct benefits to the land will be recorded over the next 40 years.

For CaixaBank, the calculation and offsetting of its carbon footprint is a key management tool that reflects its commitment to the environment and socially responsible banking. In addition, the company is the only one that purchases electricity produced entirely from renewable sources.

Promoting initiatives against climate change

CaixaBank is one of the leading financial institutions in the struggle against climate change on a global level. The organisation CDP has included CaixaBank in the index of global leaders in the struggle against climate change, for the fifth consecutive year.

Last year, CaixaBank registered 1.448 billion dollars worth of purchases on the green loan market, which included the financing of renewable energy projects (more than 645 million euros in 2018). Similarly, CaixaBank has several product lines aimed at financing environmentally-sound initiatives and collaborates with the European Investment Bank to finance projects fighting against climate change. Through this type of financing, CaixaBank contributes to United Nations Sustainable Development Goals, with a special emphasis on the SDG 13: Climate Action.

Since 2007, it is part of the group of financial institutions associated with the Equator Principles to guarantee that the projects to which it provides funding and consultancy are carried out in a socially responsible way. In addition, since 2016 it has been on the board of directors of the Spanish Green Growth Group, which fosters economic growth linked to a low-carbon economy.

CaixaBank has also joined the United Nations Environment Programme - Finance Initiative (UNEP FI), which has three main goals: commitment to sustainable development, sustainability management and public awareness. Furthermore, the company is a member of the Dow Jones Sustainability Index (DJSI), a global index that assesses the behaviour of companies according to social, environmental and corporate governance criteria.