Our model

At CaixaBank we take on the responsibility of driving a positive economy aimed at the well-being of people.

We understand the banking system as a catalyst for the flow of money in society (savings, financing, investment, and so on), and we are aware of the fact that it has an effect on a territory's economic and social development. However, we want to go beyond that function and, as the leading bank on the Spanish market, we take on the responsibility of driving a positive economy aimed at the well-being of people.

With this aim in mind, we have designed a new Sustainable Banking Plan with a 3-year time horizon that includes our proposal for solving challenges, such as inequality, climate change and boosting the real economy. All this while putting at the service of people what we know how to do: banking.

To that end, we are going to allocate more than €64 billion to financing mainly energy transition initiatives and providing microloans to students, self-employed workers, microenterprises, families and new companies that create employment. Via these sustainable financing mechanisms and other programmes and partnerships -social rent, financial culture, volunteer work...-, we want to generate a positive impact on society.

We are committed to demonstrating, through actions, the social value of banking and becoming the benchmark bank in sustainability. 

Learn about our model by accessing the presentation "CaixaBank, Sustainable Banking ".

2022-2024 Sustainable Banking Plan

To fulfil CaixaBank’s commitment to society, our plan is based on three ambitions:

  • To promote the sustainable transition of companies and society

  • To lead positive social impacts and promote financial inclusion

  • To foster a responsible culture as a benchmark in governance

Through active listening and dialogue, a rigorous methodology for measurement and data management, and an ESG communication strategy for raising external and internal awareness, we pursue our sustainability goals through eleven strategic lines:


Culture focusing on people


Integrating ESG in the bank


Transparency and accountability


Benchmark in regulatory standards


Transition

of companies of individuals

Decarbonisation


Integrating ESG risks


Social leadership and alliances to multiply people's opportunities


Leadership in microfinance


Promoting employment and entrepreneurship

Our commitments

With the Sustainable Banking Plan as a guide, we intend to achieve the following goals over the next three years:

Global:

  • 64,000 million euros made available in sustainable finance1
  • Maintain category "A" in the synthetic sustainability indicator 2

Enviromental:

  • Make progress in decarbonisation to reach net zero emissions by 2050
  • Reduce the emissions financed by 2030:
    • Electricity: -30% (1363 KgCO2e/MWh in 2020)
    • Oil and gas: -23% (26.93 MtCO2e in 2020)

Social:

  • 413,300 beneficiaries of MicroBank, the CaixaBank Group's social bank4

Good governance:

  • 42 % of women in managerial positions5


(1) Mobilisation of sustainable financing is the aggregate sum of the following items:

  • Sustainable Retail financing, as the sum of the arranged amount for the following: green mortgages (with energy performance certificate “A” or “B”), financing for home refurbishment, financing for hybrid/electric vehicles and microloans granted by MicroBank
  • Sustainable Business financing, as the sum of the arranged amount for the following: sustainable financing to customers of the Business, Developer and CIB (Corporate & Institutional Banking) segments
  • Amount of CaixaBank's share in the issuance and placement of sustainable bonds (green, social or mixed) by CaixaBank customers
  • Net increase of assets under management (AuM) in CaixaBank Asset Management, in products classified under Article 8 and Article 9 of SFDR. The change includes the market effect
  • Gross increase of assets under management (AuM) in VidaCaixa, in products classified under Article 8 and Article 9 of SFDR. The calculation includes gross contributions to Pension Funds, Voluntary Social Security Entities and Unit Linked products. The years 2023 and 2024 will include also contributions from dependency insurance


(2) Synthetic ESG index created by CaixaBank based on methodology developed by KPMG that provides aggregate information from the main ESG analysis institutions. The indicator objectively weights the results obtained by the company in the scores awarded by the main international ESG analysts (S & P Global, Sustainalytics, MSCI and ISS ESG).

(3)The value of 136 KgCO2e/MWh considers the scope-1 emissions of the customers and parts of the value chain within the perimeter for setting the targets. The value of 26.9 MtCO2e considers the scope-1, -2 and -3 emissions of the customers and parts of the value chain within the perimeter for setting the targets. More information in the Environmental and climate strategy.

(4) Number of holders and co-holders of microloans granted by MicroBank in the 2022-2024 period.

(5) % of women in managerial positions from large branch deputy management upward (A and B branches).


The Sustainable Banking Plan includes the Environmental Management Plan to reduce the direct impact of our activity, which also has specific objectives.

Through our activities and strategic alliances, we contribute to the achievement of the Sustainable Development Goals.

Priority SDGs

Learn about the SDGs to which CaixaBank contributed in 2021 in the publication on Sustainability and Socio-Economic Impact 2021 .