17 September 2020
- Cecabank is thus reinforcing its environmental commitment after signing the agreement in COP25 and the Green Recovery Alliance
- The company is cementing the reduction of its CO2 emissions year after year
Cecabank is continuing to take steps to meet its firm commitment to a more sustainable, environmentally-friendly business.
During 2019, the bank has carried out specific measures that have reduced CO2 emissions. These notably include contracting guaranteed renewable energy for its data processing centres, which meant it stopped issuing 104.22 tonnes of CO2 in 2019.
Improvements have also been made in its climate control management by reducing gas and electricity consumption. It also affects teleworking, which leads to reduced fuel consumption, whether in private or public transport. With these last two measures, the bank has managed to reduce emissions by 71.88 tonnes of CO2 this year. This is equivalent to planting 3,994 trees. In 2019, Cecabank obtained AENOR ISO 14064-1:2012 verification of its carbon footprint for the second consecutive year.
The purpose of Cecabank's Sustainability Policy is to strengthen business and the long-term relationship with clients and partners. For this reason, we continue incorporating their social, environmental and good governance concerns into our activity. Under the environment, an efficiency plan is being developed with three lines of action: raising awareness, action and compensation.
Awareness-raising allows Cecabank to conduct various initiatives on its ability to achieve a more sustainable environment. The action seeks to implement solutions that can reduce the environmental impact as a company and as individuals. Lastly, thanks to offsetting, the reduction of its carbon footprint has come full circle.
By adapting its working methodologies and with the engagement of the entire company, Cecabank is continuing to consolidate the reduction of its CO2 emissions year after year.
Cecabank is continuing to strengthen its environmental and sustainable commitment, by reducing its carbon footprint
At the United Nations Climate Change Summit (COP25), held in Madrid in December 2019, the main Spanish banks, including Cecabank, presented a joint commitment. The goal was to proceed within a specific period to reduce the carbon footprint in their credit portfolios. This had to be conducted in a manner that could be measured with internationally approved criteria and in line with the objectives of the Paris Agreement.
Under this agreement, the signatory banks committed to developing the methodologies required to assess the activity's impact on their balance sheets, with the main goal being to maintain the average global temperature below 2 °C above pre-industrial levels, and to continue their efforts to limit the increase to 1.5 °C.
In addition to the commitment made at COP25, Cecabank has joined the Green Recovery Alliance initiative. This initiative, which is based on the European Green Deal, promotes economic and social reconstruction with sustainable principles after the crisis arising from COVID-19. Similarly, it advocates that stimulus policies need to be effective from an economic and social point of view, while being in line with sustainability and biodiversity policies. This initiative already has more than 1,000 signatories across Europe.
Cecabank, as a member of the Spanish Network of the UN Global Compact, is working to promote sustainability and achieve the Sustainable Development Goals (SDGs). The bank, which is involved in the ambitious challenges raised by the SDGs, is part of the Global Compact Network. It is a platform responsible for raising awareness and helping the business community contribute to this new development agenda, looking to 2030. In this way, companies have, for the first time, been positioned as key agents of sustainable development, at the same level as states.
