We are a people-oriented bank, and we focus on building trust and security in our activities. With this vision, we actively participate in the regulatory and legislative processes of the national, European, and global financial and banking sectors. Our involvement seeks to shape a solid regulatory framework, as well as to promote consistency and harmonisation of regulation and supervisory culture.
The ultimate goal is to protect the interests of our customers, shareholders and employees, and by doing so, the bank seeks to contribute to financial stability, sustainable economic growth and job creation.
We share with the public authorities our vision on the regulatory processes, when requested or on our own initiative. In general, we share positions through different industry associations and thus agree on a common position. Sometimes, we also directly transmit our own messages. We never contract direct lobby or interest representation services when positioning ourselves before the authorities.
Our Public policy actions follow a broad approach ultimately aimed at encouraging the development and sustainable economic growth of the territories in which we are present.
In our activity we support the regulatory initiatives that pursue reinforcing financial stability and the proper functioning of the European banking sector. Especially, those which help complete the banking union, promoting the development of a framework of effective resolution and the establishment of a common deposit guarantee fund.
As a socially responsible bank, we also work towards promoting the development of a regulatory framework for sustainable finances, with the aim of complying with the 2030 Agenda and the Paris Agreement on climate change. Within this scope, we consider important to ensure a fair transition towards a more sustainable economy.
We also promote actions related to encouraging digital transformation, increased transparency and consumer protection.
The Regulation Committee decides on the regulatory strategy and makes sure that our proposals are aligned with the bank's vision. By conducting an internal analysis, it identifies possible undesired effects of regulation with the aim of channelling the best strategy through collaborating associations and teams.
The Committee is chaired by the head of Public Affairs and made up by senior executives in the areas most affected by the regulation, including the CEO. The Regulation Committee's decisions and deliberations are regularly reported to the Management Committee.
We act in a responsible and transparent way with all social agents and are strict in the fight against corruption. For this, we rely on two essential elements when participating in the regulatory processes: CaixaBank's anti-corruption policy and the Code of business conduct and ethics.
We apply them both in our relationship with political parties and public authorities, where Section 6 of the Anti-Corruption Policy strictly prohibits donations to political parties and associated foundations. Thus, under no circumstances does CaixaBank make donations to political parties or their associated foundations.
We are strict and thorough in applying the Codes and Policy. Through them, we ensure the fulfilment of the applicable law and reassert our commitment as signatories of the ethical principles of the United Nations Global Compact.