The Sustainability Committee reports to this Committee, which is responsible for approving the main lines of action in the field of sustainability.
In view of the growing relevance of all elements of sustainability, and the creation of a new Sustainability Directorate in April 2021, the Management Committee approved the creation of the Sustainability Committee.
This high-level committee reports to the Management Committee. It developed from the Environmental Risk Management Committee, created in 2019, and takes over sustainability/CSR-related functions from the Corporate Responsibility and Reputation Committee of 2015.
Its mission is to help CaixaBank be recognised for its excellent sustainability management.
Meetings and composition
It meets monthly and is made up of managers from different areas of the bank: Sustainability; General Business Division; CIB and International Banking; Compliance and Control; General Risks Division; Communication and Institutional Relations; Finance; Accounting, Management Control and Capital; General Secretariat; Resources; Human Resources; Internal Audit; CaixaBank Asset Management; VidaCaixa; BPI and ImaginTech.
Functions and objectives
- Supervise the bank's sustainability strategy, monitor the projects and initiatives, and assess their degree of compliance.
- Foster the inclusion of sustainability criteria in the bank's business management.
- Be aware of and analyse the regulatory requirements, trends and best practices in the sector with regard to sustainability.
- Review and approve the information about sustainability to be disclosed to the market.
- Report the agreements reached to the Management Committee.
- Escalate to the Global Risk Committee all matters related to the policies for sustainability risk management, the reporting and monitoring of Risk Appetite Framework (RAF) metrics and the regular information about sustainability risks.
- Validate the fairness of the non-financial indicators in relation to the Environmental, Social and Governance (ESG) criteria.
- Sanction any exceptions covered by the Corporate Policy in relation to the Defence sector.
As part of the organisational restructuring resulting from the merger with Bankia, a new department was created within the bank's Management Committee, the Sustainability Department, overseeing four sub-departments. The functions of this department include overseeing the definition, updating and monitoring of the Group's sustainability strategy, as well as updating CaixaBank's Corporate Sustainability/Responsibility Policy. The latter applies to all employees, executives and members of the governing bodies, ensuring transparency, independence and good governance of the entity and safeguarding the interests of people and our territory.