3 November 2021
Corresponsables interview with Juan Carlos López, our Head of Sustainability and Stakeholder Relations, to discuss our company's involvement in the 'Sumamos Plan' and how we value the importance of public-private partnerships
QUESTION: How important is it for your organisation to have adhered to the Sumamos Plan?
REPLY: For Cecabank, joining the Sumamos Salud+Economía Plan was of crucial importance in an unusual context.
Since the outbreak of the pandemic, we realised that we were facing a collective challenge and that joint efforts and cohesion were key to mitigating the adverse effects of Covid-19. The Sumamos Plan has this objective, for the public administration and the private sector to work together to overcome the crisis in a coordinated, firm and agile manner.
Q: Why is such a public-private partnership necessary in Spain?
R: COVID-19 has affected all layers of society (social, economic, business, political, etc.) and this reality forces companies and public administrations to reach out to each other in order to achieve effective collaboration.
The recovery measures adopted by the government must take into account the business perspective in the same way that business initiatives must be accompanied by public support. The Sumamos Plan reflects this public-private collaboration where each party contributes what it can to help overcome the pandemic, contributing to SDG 17 on fostering partnerships.
Q: How is your organisation committed to developing socially responsible good practices that contribute to the attainment of the SDGs? Can you briefly explain your evolution to date?
R: Sustainability, understood from a 360º perspective, is the backbone of all of Cecabank's activities, forming part of the DNA of our business and the management of our human capital, and determining our relationship with our stakeholders.
In addition, as a Global Compact partner, we actively contribute to the attainment of the Sustainable Development Goals through various activities that promote social welfare and the sustainable development of the economy, society and the environment. In particular, we are pleased to be able to state that we place special emphasis on goals 1 (End poverty), 3 (Good health and well-being), 4 (Quality education), 5 (Gender equality), 8 (Decent work and economic growth), 10 (Reducing inequalities) and 17 (Partnerships to achieve the goals).
Q: To what extent do you create social and environmental as well as economic value in your sector, and what are the main barriers and obstacles to doing so?
R: Companies are called upon to play a leading role in the fight against climate change and the promotion of sustainability. In particular, the financial sector has a fundamental role to play in promoting and fostering sustainable finance, constituting a key link in the contribution towards the new productive model.
We must put in place the means to channel funds towards activities that contribute to the green transition, while being aware of the potential financial risks associated with climate change itself. Cecabank's core business is therefore strongly committed to the sustainable regulation of markets and, in global terms, has a responsibility to promote sustainable finance.
In terms of barriers, and although we are gradually making progress, the lack of knowledge regarding the sustainable options available is the main obstacle we encounter. For this reason, we must all play a complementary role and work together in campaigns to raise awareness that it is possible to do things differently without having to forgo profitability.
Q: What are the other major challenges facing your company in terms of creating social and environmental impact?
R: Cecabank has included Environmental, Social and Governance (ESG) criteria in its sustainability policy. One of our main challenges is the continuous adaptation of our actions to the new needs and sensitivities of our environment, always trying to anticipate future more sustainable scenarios, in an increasingly accelerated and dynamic landscape. Therefore, our sustainability team is constantly identifying global trends and areas for improvement in order to adapt our strategy and initiatives to needs.
The social and environmental challenges are extraordinary, and while business contributions are increasingly substantial and commendable, there will always be scope to invest more effort, resources and knowledge. At Cecabank, we have a social action plan within the framework of our sustainability policy, where we provide society and our area of influence with financial and human resources to help the most vulnerable. Social taxonomy will bring all sectors into balance and address some of the shortcomings in order to help move efforts in the same direction towards a fairer and more caring society.
