|Date joined:||31 July, 2019|
|Initiatives:||Principles for Responsible Banking|
Founding Signatory to the Principles for Responsible Banking
Sabadell is one of the largest banking groups in Spain’s financial system. The company was founded in 1881 and is listed in the IBEX35. Banco Sabadell operates in over 20 countries throughout the world and has commercial banks in Spain, Mexico and the United Kingdom.
Since its inception, Banco Sabadell has wanted to help people and companies make their projects become a reality, anticipating their needs and caring for them to help them make the best economic decisions. It does this through responsible management and an unwavering commitment to society.
Banco Sabadell’s business model focuses on customer service, digitalisation, solvency, the strength and geographical diversification of its balance sheet and on generating long-term value for our shareholders, our employees and society in general.
Summary of sustainability strategy
Banco Sabadell carries out its business in an ethical and responsible manner, managing its commitment to society in such a way as to ensure that its activity has a positive impact on people and the environment. Each and every person in the organisation has a part to play in applying the principles and policies of corporate social responsibility, thus also guaranteeing quality and transparency in customer service.
Banco Sabadell has defined sustainable objectives within its Corporate Social Responsibility (CSR) road map in four main areas of action: Responsible business and commitments to employees, to the environment and to society, specific actions plans are implemented within all areas of the bank.
Banco Sabadell has instruments in place to measure the outcome of these policies, the principal risks and the establishment of corrective measures, if necessary. The bank has a Corporate Ethics Committee, to which the matters relating to CSR are reported, as well as a cross-cutting CSR Committee, which covers matters related to corporate social responsibility throughout the organisation. It is formed of the various units responsible for such matters and coordinates related actions taken by the organisation.
Since 2003, Banco Sabadell has published a report indicating the actions, policies and initiatives which, aside from its core mission to be a provider of financial products and services, constitute the responsible performance of its business activities, its commitment to its various stakeholders, to the environment and to society in all of the regions in which it operates.
Banco Sabadell has a set of policies and codes of conduct that were approved by the Board of Directors which work towards ethical and responsible conduct at all levels of the organisation and in all Group operations.
- Code of Conduct
- Internal Code of Conduct in connection with the securities markets
- Code of conduct for suppliers
- Ethics and human rights policy
- Corporate Social Responsibility policy
- Group policy on restricting finance for and investment in, activities associated with the arms industry
- Shareholders and investors policy
- Customers policy
- Human Resources policy
- Environmental policy
- Suppliers policy
- Social and cultural action policy
- Group tax strategy and tax responsibility good practices.
Banco Sabadell has suscribed several national and international agreements which frame this commitment. The bank is a signatory of the Equator Principles, requiring it to take account of ESG issues in financing major projects and in large corporate loans. The bank supports the Carbon Disclosure Project (CDP) in connection with action against climate change and CDP Water Disclosure, and is party to an agreement between the Spanish Banking Association (AEB), the CNMV and the Bank of Spain to carry out a programme of activities as part of the National Financial Education Plan.
Is the bank a United Nations Global Compact signatory?
Is the bank a signatory to the UN-supported Principles for Responsible Investment?
Yes, the “investment manager” category.
Why did the bank join UNEP FI as a member?
Sustainability has become recently a major focus for the banks requiring a quick adaptation of the management system and processes to take into account risks and opportunities of sustainability. By joining the UNEP Fl and the Principles of Responsible Banking, Banco Sabadell shows its commitment to society in such a way as to ensure that its activity has a positive impact on people and the environment.