- Over the past 5 years we have reduced our emissions by more than 90%, offsetting the remaining emissions through reforestation projects (2020 and 2021 financial years)
MADRID, 3 NOVEMBER 2022.- Cecabank is making firm progress in its objective of conducting its business taking into account environmental, social and governance criteria. This is why sustainability is one of the strategic axes of the bank, as well as one of its growth vectors. Over the past two years, Cecabank has taken a further step towards its goal of achieving a carbon-neutral model by calculating, reducing and offsetting its Scope 1, 2 and 3 emissions for the 2020 and 2021 financial years.
This model is part of Cecabank's commitment to the responsible and sustainable management of material resources both in its activity and in its sphere of influence. Demonstrating its commitment to reducing emissions, Cecabank purchases all its electricity with a Certificate of Origin (renewable), both for its data processing centres and corporate buildings, which entails a significant reduction in greenhouse gas emissions.
At the same time, since 2018 the bank has had an Energy Management System in place in its corporate buildings in Madrid, recognised with AENOR certification. In 2020 the company adopted the standard UNE/ISO 50001:2018, and in December 2021 it renewed the AENOR certification until 2024.
Cecabank has been engaged in calculating its carbon footprint since 2017 and has managed to reduce it since 2018 and offset it in 2020 and 2021.
Specifically, the amounts allocated to offsetting emissions were earmarked in 2021 for a reforestation project in the municipality of San Martín del Pimpollar (Ávila), and in 2022 Cecabank offset its emissions in two different areas: at national level, planting trees in the Sierra de Gredos (Ávila), in the Iruelas project for the reforestation of burnt areas; and internationally, through the Amazon Conservation project in Madre de Dios in Peru. With these actions, Cecabank has reinforced its commitment to SDG 13 (Climate action) and SDG 15 (Life on land).
Cecabank's partnerships and commitments to the environment
In response to SDG 17 (Partnerships for the goals), in recent years the bank has entered into various national and international partnerships that seek to drive the transformation of the financial sector towards an ESG model. In 2021, Cecabank was part of the Spanish Network of the Global Compact, Spainsif and Forética, committing to various initiatives in this area.
Additionally, in 2020 it joined the Green Recovery Alliance, which pursues a major global agreement to end the pandemic and foster a sustainable economic recovery. In December 2019, during the COP25 event held in Madrid, it joined the 'Collective Commitment to Climate Action' promoted by the UNEP FI and in line with the Paris Agreement, in which it undertook the commitment to reduce the carbon footprint of its portfolio. Through CECA, the bank also supports the UNEP FI Principles for Responsible Banking.
As a result, Cecabank works every day to advance in best practices and comply with the commitments undertaken in terms of climate-related risks and goals, as well as to achieve maximum efficiency in the management of direct environmental impacts. Through sustainability, the bank integrates social, environmental and good governance concerns into its business activities, reinforcing the business and the long-term relationship with customers.
Mónica Malo, Director of Communications-External Relations and Sustainability at Cecabank, has stated that "the bank has a strong and growing commitment to sustainability and we work every day to advance in best practices so that our activity has the least possible impact on the environment. To continue to make progress in efficiency and to reduce our CO2 emissions year by year is a source of pride for the entire team and a motivation to continue working on this responsible path that seeks to promote sustainable economic growth."
