The American magazine's 'Sustainable Finance' awards highlight leading entities in sustainable financing initiatives to mitigate the negative effects of climate change and help build a more sustainable future
CaixaBank has been chosen'
Best Bank in Sustainable Financing in Spain 2022' by Global Finance magazine in its 'Sustainable Finance Awards'. These awards, which celebrate their second edition this year, highlight the leading entities in initiatives of
sustainable financing to mitigate the negative effects of climate change and help build a more sustainable future for humanity.
The jury of the awards, made up of the editors of the magazine, chose the winners who presented the best practices in sustainable financing according to multiple criteria such as governance policies, set objectives, and initiatives implemented in social and environmental financing during the year 2021.
According to the editorial director of the magazine,
Joseph Giarraputo«the pandemic and the disruptions suffered in the energy sector have highlighted the risks of climate change at a time when new technological innovations offer
new solutions to build a sustainable future for all». And adds; "These awards recognize financial institutions that stand out not only for their efforts to ensure adequate financing for all the initiatives that have arisen in this field, but also for their creativity when facing these global challenges."
CaixaBank, committed to sustainable financing
The award for 'Best Bank in Sustainable Financing in Spain 2022' is recognition of CaixaBank in a year in which the entity
has reaffirmed its commitment to sustainable financing.
In 2021, the bank mobilized
31,375 million euros in sustainable financing, from both loans and sustainable bonds, which meant an increase in
150% volume compared to the previous year.
In the section on sustainable loans, the entity broke its all-time record for sustainable loans, with
11,595 million euros, and ranked 6th in Europe in green and sustainable loans in the Top Tier League Tables by volume, according to Refinitiv, and was the best placed Spanish bank in this classification.
It was also a historic year for MicroBank, CaixaBank's social bank, which ended 2021 with a
record number both in the number of operations carried out and in the volume of financing, placing special emphasis on financing families with difficulties in accessing credit.
In this way, MicroBank allocated in 2021 a total of
€953 million to financing with social impact, which represents an increase of 5.8% compared to the previous year; and granted
107,222 loans, 1.74% compared to 2020.
In the field of sustainable bond issues, the entity mobilized
€19.78 billion during 2021, 164% more than the previous year. In this area, CaixaBank's leadership in terms of its own bonds should be highlighted, with the issuance of four bonds in green or social format for a value of 3,500 million euros, in addition to the three launched in 2019 and 2020, and the one launched in 2022. In this way, CaixaBank is the European bank with the largest volume of its own ESG bond issues in euros, for a total of around 7,500 million euros.
Benchmark in sustainability in Europe
In its new strategic plan, CaixaBank has set itself the priority of consolidating itself as a benchmark in sustainability in Europe by supporting the energy transition of companies and individuals. For this reason, CaixaBank wants to mobilize
€64 billion in sustainable financing in the period 2022-2024, through the promotion of several initiatives focused on the offer of products, ESG advice, awareness and training.
The initiatives in this area will focus on promoting the energy transition of companies and society as a whole, through, among others, the development of solutions for individuals with a focus on mobility and sustainable housing, and the promotion of investments with ESG criteria. .
In addition, the plan sets the objective of leading the positive social impact and favoring financial inclusion, promoting microfinance solutions, mainly through MicroBank, and maintaining the
commitment to the rural worldadapting service channels to the needs of different customer groups.
In the case of MicroBank, the objectives for 2024 entail reaching 3,500 million euros in new social financing concessions, which is 36% more than what was established in the 2019-2021 period, and being able to reach more than 413,300 beneficiaries of microcredits.
Other international recognitions
This award is a continuation of a trajectory of international recognition for CaixaBank's commitment to sustainable financing. In the first edition of the Global Finance magazine's 'Sustainable Finance Awards', CaixaBank was chosen 'Leader in social bonds in Western Europe 2021'. In addition, Environmental Finance magazine has honored the entity's bond issues with the awards for "Social Bond of the Year in the Banking Sector 2020" and "Green Bond of the Year in the Banking Sector 2021".