Print pageWe protect the interests of our customers, shareholders and employees so as to contribute to financial stability, sustainable economic growth and job creation.
We strive to help maintain the financial stability and smooth functioning of the European banking sector. To this end, we participate in the regulatory and legislative processes of the financial and banking sector at national, European and global levels in order to promote a solid, consistent and coherent regulatory framework.
We work to ensure that the regulatory framework considers sustainable financing, in keeping with the goals of the 2030 Agenda and the Paris Agreement on climate change. We want to ensure a fair transition to a sustainable economy, which is why we also engage in initiatives related to promoting the digital transformation, improving transparency and protecting consumers.
CaixaBank has a rigorous process for assessing any proposal to join an association or commercial chamber. This process includes an internal reputational risk check to ensure that the association in question is recognised and has a proven reputation and conduct. In this way, CaixaBank ensures that its membership in any association is aligned with its values and objectives, also in terms of sustainability.
CaixaBank has a robust internal governance process to ensure that the positions and communications that reach associations and authorities are consistent with the bank's strategy. Where applicable, these positions can also be found publicly posted on the European Commission's website.
Under no circumstances do we contract services directly from lobbyists to define our position with government agencies. We generally share opinions through different industry associations to try to reach a common position, and we occasionally also directly send out our own messages.
A few examples of associations of which we are members and which share our objectives and whose activity is aligned with the Paris agreement include:
- ESBG (European Savings Banks Group), whose positions can be found on their website;
- CECA (Spanish Confederation of Savings Banks); and
- IIF (Institute of International Finance).
Participation in international climate-related initiatives
In terms of climate change advocacy, CaixaBank collaborates with organisations that share our vision and whose activity is aligned with our objectives. We actively participate in various global and regional initiatives that seek to promote the decarbonisation of the planet (including alignment with the Paris Agreement), the protection of the environment and natural capital, promoting inclusive growth and diversity, and therefore not promoting or supporting sectoral positions on climate issues that are not consistent with the bank's strategy.
We participate, where appropriate, in the development of regulatory proposals that take into account the economic, social and environmental aspects of the transition to a carbon-neutral economy. For example, CaixaBank is one of the founding members of the Net-Zero Banking Alliance; we are also a member of UNEP FI's sustainability working groups.
One example of our support for climate-change-related policies is the initiative Unlocking Private Investment in Energy Efficiency: guidance for Member States and market actors. Information available via the following link: Unlocking private investment in energy efficiency - guidance for Member States and market actors (europa.eu)
Among the main initiatives, we can highlight:
PCAF (Partnership for Carbon Accounting Financials)
- We are signatories of the PCAF initiative and actively participate in the meetings organised by PCAF Spain together with other financial sector companies.
- We attended regular meetings of PCAF Europe.
- We publish the financed issuances of our credit and investment portfolio, informing PCAF of their updating. This information is included on the PCAF website (carbonaccountingfinancials.com), specifically, under "Financial institutions taking action".
NZBA (Net Zero Banking Alliance)
- We are a founding member.
- We are part of the working group, actively participating in the regular meetings and giving direct or written feedback, when necessary, on the results reported in the meetings.
- We maintain contact with management or the coordinating group on specific issues.
- We provide information on our progress in our commitment to decarbonise our portfolio.
The Spanish Growth Group Green (Grupo Español de Crecimiento Verde - GECV)
This is an association comprised of more than 50 companies of various sizes and profiles that promotes economic growth linked to a low-carbon economy, through public-private collaboration.
- We have been a founding member since 2016.
- We participate in the assemblies and work meetings of the GECV, actively collaborating in two of the six working groups: “Sustainable Finance” and “Environmental Taxation”, with the aim of generating knowledge and consensus around common positions, and spreading these ideas to key public and private actors.
- "Sustainable Finances" working group: promotes debate on the role of finance in a green and socially just economy, and promotes the growth of finance that underpins the transition to a sustainable economic model.
- "Environmental Taxation" working group: highlights the crucial role of environmental taxation in addressing the challenges posed by the fight against the climate change.
At CaixaBank, we assess the alignment of the position of organisations with which we collaborate, as well as that of our advocacy activities, with objectives of the Paris Agreement and other core values of CaixaBank. In the event of misalignment, mitigating measures are defined and implemented.
Financial stability
We strive to help maintain the financial stability and smooth functioning of the European banking sector.
Legislative processes
We support the creation of a solid, consistent and coherent regulatory framework.
We are involved in various associations, working groups and forums in areas such as banking and finance, sustainability, research and security, innovation and digitisation, and others. We are guided by integrity, honesty and transparency and are listed in the Transparency Register of the European Commission. This register records our public policy representatives and the expenses associated with them.
