Sustainability at ABANCA
- Decarbonization: Active commitment under the standards of the Net-Zero Banking Alliance to achieve the goal of net-zero emissions attributable to both our lending and investment portfolios by 2050.
- Mobilization of sustainable business: we promote a sustainable alternative applicable to business lines and families of financial products.
- Support for our clients: we foster dialogue with clients to understand their goals and plans in order to support them on their future transition journey.
- Mitigation of the impact of internal operations: maintain our operational footprint at net zero through emissions reduction and offsetting actions.
You can consult the corporate regulatory framework that guides our actions in detail.
Environmental
It addresses the bank's active contribution to the decarbonization of the economy and to reducing the impact of its own activity.
Sustainable business
- We drive the sustainable transition by offering loans focused on promoting renewable energy, hybrid or electric mobility, and energy-efficiency renovations for households and businesses. In the business sphere, we have specialized units — ABANCA Mar, Agro and Energy — dedicated to serving clients operating throughout the value chain of these sectors, enabling comprehensive management of financing and investment needs, also in the area of sustainability.
- In the investment area, ABANCA has a model that integrates ESG factors as a variable in the decision-making process. ABANCA funds and GDC strategies integrate ESG risks in accordance with the criteria of our responsible investment policy. In 2020, ABANCA became the first Spanish bank to join the Principles for Responsible Investment.
Environmental management and efficiency
We measure, manage and implement measures to reduce our own footprint through actions to consume energy efficiently, environmental management mechanisms and reduced resource consumption.
We hold the Calculate, Reduce and Offset seal from the Spanish Office for Climate Change and the Zero Waste seal from AENOR. For the CO2 emissions that we cannot reduce, we offset them through carbon sequestration credits. We support the planting of native species in degraded forest areas that need to be restored.
We promote good practices among our customers, such as the collection and recycling of their expired financial cards or ensuring that the cards are produced with recycled materials.
Social
The strategy incorporates social responsibility and gives priority attention to the expectations of customers, employees and other stakeholders, consolidating transparent management aligned with corporate values that goes beyond regulatory compliance. We pay special attention to vulnerable groups and rural populations within and outside Galicia, through initiatives related to financial accessibility, territorial cohesion, tailored services for senior customers and financial education.
Governance
This pillar ensures that sustainability is integrated into decision-making, a responsibility overseen by senior management, ensuring that the business strategy and the sustainability strategy converge.
ABANCA holds an AENOR Corporate Governance Good Practices Index (IBGC) certification with the highest possible rating for the effectiveness of its governance and internal control mechanisms.
Commitments
Maintaining and building alliances and relationships with stakeholders is a key element of the strategy and corporate culture, enabling us to provide solutions, actions, and forums that seek sustainable development and contribute to progress.
Committed from the outset to the United Nations Global Compact, founding signatories of the Principles for Responsible Banking, and committed to the Diversity Charter, actively promoting the protection of biodiversity and social development.
ESG ratings and certifications
Our sustainability performance is assessed by international ESG rating agencies, such as Sustainalytics, which ranks ABANCA as the leading Spanish banking institution and among the TOP 15 out of more than 1,000 institutions analysed worldwide.
We also hold various certifications in areas such as environmental management, people and talent management, and corporate governance, where we seek to promote best practices by encouraging the involvement of the entire workforce.